Dear Jim: Simon Parkes' End of Petrodollar Announcement.
Is Simon referring to new BIS Basel 3 regulations? Basel 3 adjusts banking reserve requirements, adds gold as Tier 1 asset, reduces fractional reserve practices, etc. We've been waiting for the top level banksters to get their minion bankers in line for a very long time. They always tell us what they are going to do...
"Although the voluntary implementation deadline for the new rules was originally 2015, the date has been repeatedly pushed back and currently stands at January 1, 2022."
What Is Basel III?
Basel III is a 2009 international regulatory accord that introduced a set of reforms designed to mitigate risk within the international banking sector, by requiring banks to maintain proper leverage ratios and keep certain levels of reserve capital on hand.
Basel III was rolled out by the Basel Committee on Banking Supervision—then a consortium of central banks from 28 countries, shortly after the credit crisis of 2008. Although the voluntary implementation deadline for the new rules was originally 2015, the date has been repeatedly pushed back and currently stands at January 1, 2022.
Web search for more: https://duckduckgo.com/?t=ffsb&q=basel+3+tier+1+asset&ia=web
Response: Very Interesting questions. So what Basil III suggests is the Banksters want gold protection over the US Petrodollar, right? They are starting the shift away from the Dollar. Thanks Jeff.