KWN reports that the Bank of International Settlements (BIS) is considering making gold a Tier 1 Asset. This would give gold the same status as US Dollars, the international currency for now.
This raises a number of issues. Just what would be the value of gold? The outstanding US Dollars is about $8T, while the value of gold producers is not even $1T.
I will post on this as I can see more data.
Monday, June 4, 2012
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