After 80 years, Gold is now Money!

Hey Folks, June 18, 2012 will be the day that Gold was declared to be money, for the first time in 80 years!

The following MONUMENTAL change was promulgated by the FDIC on that day without any notice in the MSM, which move was made with the approval of Federal Reserve Board of Governors and the Office of the Comptroller of the Currency.

And I am sure that this ‘Sea Change’ will be followed by similar moves amongst other nation’s banking regulatory authorities soon and starting almost immediately in Euroland.

This means, quite simply, that the ‘store of value’ component of gold is now officially recognized, i.e. gold is (as of 6/18/2012) money.

All the ‘gold bears,’ and ‘Keynesian’ detractors and revilers and scoffers of gold as a ‘store of value’ should now take heed of the coming reality-check for all Fiat currencies that they do so reverently worship.

The Times They are A’Changin!

June 18, 2012, the FDIC distributed the following rule-making notice  to member banks, notifying them of changes of the FDIC collateral rules,
The following is drawn from: http://www.fdic.gov/news/news/financial/2012/fil12027.pdf.
The following will be classed with a  zero percent risk weighting:
1. Cash;
2. Gold bullion;
3. Direct and unconditional claims on the U.S. government, its central bank, or a U.S. government agency;
4. Exposures unconditionally guaranteed by the U.S. government, its central bank, or a U.S. government agency;
5. Claims on certain supranational entities (such as the International Monetary Fund) and certain multilateral development banking organizations
6. Claims on and exposures unconditionally guaranteed by sovereign entities that meet certain criteria, as listed in the notice.