The New Gold Standard by Cruiser
Last Thursday Night there was a report on CNBC that talked of the “Gold Standard”. Since then we have read articles and watched the media go back and forth over can it be done or should it be done. Now after looking back over the last few months and here are some articles that show, this is not some “hot air” being discussed. http://blogs.wsj.com...to-buying-gold/ and http://seekingalpha....-like-it-s-1965
Talk about how the central banks are buying up gold and a lot of it. Why? What did they know or need it for? Not just the United States (FED or Treasury) but Central Banks throughout the world purchasing large amounts to store for security. At the time of the articles, yes. Then on June 18, 2012, we had the FDIC come out with this http://www.fdic.gov/...2/fil12027.html This link (article) may be a little concussing, so I found this, which is a little easier to read. http://www.washingto...ces-higher.html
Now if you look at this document from Department of the Treasury, office of the Comptroller, June 7th 2012, http://www.federalre...g20120607a1.pdf on page 152 it talks of gold bullion as “Finical Collateral”. Along with Cash and Long term Securities (Treasury Bonds).
There is some history on the fact that currencies around the world will be going to a Gold/ Asset backed currency. I know that some of you will ask, what other assets. There are some being discussed and in time will be defined by the Basel III. Such as oil, diamonds, gems, silver and platinum to name a few.