The Emperor Has No Gold: Basel III Hits European Banks on January 1st, 2022 with Alasdair MacLeod

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by Kerry Lutz, Financial Survival Network:

Alasdair MacLeod writes, “Basel 3 is on course to regulate the LBMA out of existence. And with it will go all the associated arbitrage business and position-taking on Comex, because most bullion bank trading desks will cease to exist. The only supply to buy-side speculators of gold and silver contracts will be producer hedging.” In other words the gig is up and the Emperor has no Gold. You heard it here first.

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