Brandon White: Gold is getting top bank asset status in Canada

Brandon White: Gold is getting top bank asset status in Canada from GATA

TDC Note – Why would Canada do make this request or be concerned about this situation when they sold all but a few ounces of the nations gold? What does Canada care about gold or it’s “bank asset status” – unless there’s a lot more to this story than meets the eye. Facts are facts and Canada has almost zero gold so it makes zero sense that Canada would make a public announcement of this type. Tell me your thoughts below in the comment section.

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Dear Friend of GATA and Gold:

In his weekly “This Week in 3 Minutes” commentary, Bullion Management Group’s Brandon White reports that Canada’s banking supervisor, the Office of the Superintendent of Financial Institutions, says that the “Basel III” rules for banking stability will be fully applied to Canadian banks by 2019 and give gold bullion the highest status as a risk-free asset. This, White suggests, may encourage purchases of gold as the everything bubble pops. White’s commentary can be viewed at BMG’s internet site here:

http://bmg-group.com/this-week-in-3-minutes/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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Chris Powell

The Gold Anti-Trust Action Committee was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments. The committee arose from essays by Bill Murphy, a financial commentator on the Internet (LeMetropoleCafe.com), and by Chris Powell, a newspaper editor in Connecticut. Murphy's essays reported evidence of collusion among financial institutions to suppress the price of gold. Powell, whose newspaper had been involved in antitrust litigation, replied with an essay proposing that gold mining and investor interests should act on Murphy's essays by bringing antitrust lawsuits against financial institutions involved in the collusion against gold. The response to these essays was so favorable that the committee was formed and formally incorporated in Delaware in January 1999. Murphy became chairman and Powell secretary and treasurer.