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RE: New Gold Standard is Coming?
It's just the Basil III agreement, that gives gold the status of a Tier 1 Asset, basically a no-risk asset class. I feel it is just another bankster trick to have people use gold as collateral, against fiat loans, when the collapse comes, they will just confiscate the gold.......Opinions?
Thanks for pointing that out. IMO the main reason behind that move is the debasement of the world economy from the US dollar. Whether they can use that to confiscate gold, not sure, they would certainly know who owns gold if you use it as collateral. Most of the gold is privately owned as far as I know ~roughly 75%.
But it wouldn't make a lot of sense for governments to confiscate gold. Governments and central banks are still the largest single holders of gold. No other single person owns as much gold. Given an economic collapse, the government would be most interested in getting streams of revenue back. Read taxes. If gold at that point is immensely valuable, they will shoot themselves in their own foot if they confiscated it. Taking capital away from the people would result in stunted growth. Given that most governments already own massive gold reserves, I don't see why they would need more gold.
On the other hand, the government could be interested in controlling the growth in such a scenario. Then confiscation might make sense.