Gold is soon to be Money in Euroland

Here is the further confirmation of our guess that Euroland is now absolutely forced to recognize gold as a ‘Store of Value’ after the on-going destruction of the real values (as valued by the market) of certain of the GIIPS  ‘Sovereign’ debt instruments has decimated the Balance Sheets of all the European Banksters (and their Real Estate denominated Loan Portfolios are in a more viscious and continual free-fall), as we guessed in the last Blog.

The Bank of International Settlements (BIS) is, without any public fanfare in the MSM, moving toward the reclassification of gold as a risk-free asset class in the Basel III framework.

This is confirmed by the following quotes from the BIS progress report on Basal III implementation of April 2012 provided below.
 

When all these things are fully implemented in a couple years, there will exist a huge new source of demand for gold bullion since gold bullion is the one thing that Banksters can hold as money THAT THEY KNOW CAN NOT BE DEPRECIATED by government profligacy and insane monetary and fiscal policies. 

All gold Bulls and Bears should take clear notice of these things and that is especially so for the poor 'Sheeple' who still have a great opportunity to get in the Gold Mining Stocks and save their financial lives from the total worldwide economic devastation of the Second Wave of the Super Tsunami "Kondratieff" Long-Wave that will engulf all the world's economies in Winter of 2014/15!  

Yet, of this most momentous economic event of the last eighty years, NOTHING IS SAID IN THE MSM!

Can anyone guess why this is NOT being reported at all?

Stay tuned, because 2012 is a ‘Turning Point’ in many things ‘economic,’ i.e. KEYNES and his economic Balderdash IS NOW OFFICIALLY DEAD!  

Following quotes are from the BIS document found at:  http://www.bis.org/publ/bcbs128b.pdf

From footnotes on page 26

"....32 However, at national discretion, gold bullion held in own vaults or on an allocated basis to the extent backed by bullion liabilities can be treated as cash and therefore risk-weighted at 0%. In addition, cash items in the process of collection can be risk-weighted at 20%...."

And from page 36

"... Collateral

(i) Eligible financial collateral

145. The following collateral instruments are eligible for recognition in the simple

approach:

36

(a) Cash (as well as certificates of deposit or comparable instruments issued by the

lending bank) on deposit with the bank which is incurring the counterparty

exposure.43, 44

(b) Gold.

(c) Debt securities rated by a recognised external credit assessment institution where

these are either:

• at least BB- when issued by sovereigns or PSEs that are treated as sovereigns

by the national supervisor; or

• at least BBB- when issued by other entities (including banks and securities firms);

or

• at least A-3/P-3 for short-term debt instruments.

(d) Debt securities not rated by a recognised external credit assessment institution

where these are:

• issued by a bank; and

• listed on a recognised exchange; and ..."