GOLDILOCKS
The London Bullion Market Association and the World Gold Council have recently been advocating for gold to become a High Quality Liquid Asset.
The LBMA has done their research, and they gave to the Bank of International Settlements a "working paper" that provides the benefits of reclassifying gold from a Tier 1 asset to a Sound Money regimen. If accepted, gold would be seen as money.
From what we are seeing inside a Basel 3 banking system that is about to come into play, this is certainly the next moves. In order for money to have a Level Playing Field with Tokenized Assets that are backed by gold, this is just simply the next step.
Reclassifying gold as a High-Quality Liquid Asset (HQLA) improves liquidity, enhances market stability, creates trust and confidence in the financial system, provides overall economic and financial stability, and regulatory compliance benefits.
The LBMA and WGC believe that gold meets the criteria of an HQLA under Basel III regulations. They list several reasons that support gold's classification as an HQLA such as:
*Gold's “high credit standing”
*Gold's “low legal risk”
*Gold's “denomination in USD”
*Gold's “low volatility”
*Gold's “negative correlation with risky assets”
*Gold's “active and sizable market”
On April 11, 2023, Arkansas moved to recognize gold and silver as legal tender, with the “Arkansas Legal Tender Act”. This act allows the use of all forms of gold and silver bullion to pay off debts.
"Following the lead of the Utah Legal Tender Act of 2011, already 43 US States have adopted legislation that simplifies the use of gold and silver coins as money. This comes straight from Article I Section 10 of the Constitution, which states: “No State shall ... make any thing but gold and silver coin a tender in payment of debts.”
Take a close look at the new digital asset based trading system often referred to as the Quantum Financial System. Everything turns to gold and the use of it is just simply Sound Money.
Gold will set us free.
© Goldilocks
https://gjepc.org/solitaire/lbma-wgc-advocate-for-reclassifying-gold-as-high-quality-liquid-asset-under-basel-iii/
https://www.11onze.cat/en/magazine/impact-basel-gold-market/
https://www.11onze.cat/en/magazine/central-banks-get-ready-new-gold-standard/
https://www.arkleg.state.ar.us/Bills/Detail?id=HB1718&ddBienniumSession=2023%2F2023R
https://www.forbes.com/sites/nathanlewis/2023/11/07/us-states-leading-the-move-to-a-golden-dollar/
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