Should Investors Have Faith and Confidence in the U.S. Treasury?
In this report, I cover the early market action from London on Monday, March 4th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I first look at the implementation of the BIS's Basel 3 rules and how it relates to gold as an asset. There has been a great deal of speculation about Basel 3 and gold but from my research, I find that a lot of the recent hype and talk is exaggerated.
The other subject I cover is FASAB 56 which is a U.S. governmental accounting standard implementation by the U.S. Treasury Secretary, the Office of Comptroller of the Currency and the Director of the Office of Management and Budget to basically hide a great deal that is going on at the U.S. Treasury.
I reference Catherine Austin-Fitts who has done a great deal of work with people like Professor Mark Skidmore about the missing $21 trillion from the DOD and HUD. I recommend people watch her latest interview with Greg Hunter on March 2, 2019.
Ms. Austin-Fitts basically say the U.S. Treasury has been subverted and is now under private or corporate control and lacks transparency.
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CAF Interview with Greg Hunter:
They are definitely smashing gold this past week , I’ve heard about the Basel 3 but don’t know to much about it at the moment. Cheers mike
Your pointing out about the implementation of BASEL Ⅲ is important. I have been disappointed by Jim Willie many times subscribing HAT TRICK LETTER which is basically an infotainment. Especially his writing about Asia is full of disinformation.