The US Treasury, Federal Reserve and the FDIC Mulling New Gold Regulation; ‘May be biggest event in gold market since US dropped gold standard’

The US Treasury, Federal Reserve and the FDIC Mulling New Gold Regulation; ‘May be biggest event in gold market since US dropped gold standard’.(SR).See also: Bank of International Settlements: Gold Becomes a Tier 1 Asset Class for Banks, A Stabilizing Mechanism‎
Is gold safe or dangerous now?
US authorities have recently called for comment on a rule change that may impact the gold market.
The US Treasury, Federal Reserve and the FDIC have jointly sought comment on changing some capital adequacy rules for when an institution holds gold in its own vaults or in another’s vaults.
According to the draft documents released, when gold is currently held as an asset, it is risk weighted at 15% – that is, a 15% haircut is taken on its current value for capital adequacy calculations. (See page 86 of the attached Federal Reserve document.)
However, in this same document, they are proposing that there be no (zero) discount.
That would then put gold on the same basis as cash.Fans of gold are taking an interest in this potential development. As Greene notes: “It may be one of the most important events in the gold market since the US abandoned the gold standard.”Read the full story here.

Related? Societe Generale: Gold Could Surge Over 500%


Related - Buyer beware ! MFS - The Other News : 

This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic. The bar was supplied with the original certificate. The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten.

The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].
This was apparently all highly orchestrated by an extremely well financed criminal operation.

Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.
And here’s what the Chinese allegedly uncovered:
Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.Read the full story here.