I just saw this change to be able to value it at market value, I didn’t realize that it had a 50 percent reduction in value as an asset, does anyone see this as a move to leave fiat currency? Also will this drive the value of the dollar down?

Not quite sure what you are talking about.

There was talk a few months ago about revaluing the gold that that held by the US Govt. On the books the value of the gold is not pegged to the spot price of gold and is undervalued.

I dont think it will have any effect on the USD.

I doubt fiat will ever be replaced. Might someday change from what we have, but that will be just another fiat.

https://www.forbes.com/sites/greats...-basel-iii-elevates-it-to-tier-1-status/

Sorry I forgot to post the article that explain my questions.

I thought maybe foreign countries may for go the dollar and utilize gold because of the increase in the value of gold they’re holding,and with BRICS preferring gold to the dollar, but I do realize BRICS has trouble functioning as a cohesive unit.

Banks are allowed to borrow from the fed but only up to a certain percentage of their cash holdings. That percentage has varied. If it is 90% they have to have a billion in cash to borrow 900 million. In the past if you had 100 million in gold in the bank you could only count 50% of the gold value as cash holdings. Now that has increased to 100%. It makes it much more likely that banks will buy and store gold, which makes it more likely gold will continue to increase in value. It has nothing to do with leaving fiat currency.

It's not like I am going to sell my PMs, but it's been nice seeing them appreciate.

Kids can hold it for SHTF after I'm dead.

Interesting article. Thank you for posting.

Magical accounting at its finest,,,


The worlds gold supply increases around 2% a year,,,,thus doubling every 36 years

Not a great hedge against currency debasement

Bitcoin fixes this

^^^^
Realistically though, how is bitcoin any different that other fiat currencies?

Limited/fixed supply

21 million

^^^^^
Says who? We have no idea who the man behind the curtain is; probably someone like Putin....wouldn't that be sort of funny.

So, is Ft Know gold getting audited or not.....