The LBMA vs the BIS on Gold – Who Will Win?
- GoldSilver Pros
The ongoing serial drama between the LBMA, and it’s four participating member banks, and the Bank for International Settlements (BIS) is heating up. The LBMA has published a paper that explains very well why gold should be the currency of last resort. However, the NSFR regulations in Basel III threaten to derail, and even destroy, the London OTC gold market. And take with it the silver, palladium, and platinum OTC markets as well. The real question is not whether the LBMA’s days are numbered. It is what system will the BIS promulgate once the OTC market is taken down, and whom will benefit the most? This appears to be a power struggle for control of the world precious metal markets with no clear answers on what comes next. We ask these intriguing questions on today’s Cowboy Metals live stream. WSS article link: https://www.reddit.com/r/Wallstreetsi…
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