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Mike Kosares: Volcker Rule starts April 1 and might push big banks out of gold
9:48a HKT Thursday, March 27, 2014
Dear Friend of GATA and Gold:
Speculative trading by banks is to end in the United States on April 1 upon implementation of the "Volcker Rule," Mike Kosares of Centennial Precious Metals in Denver notes today, with implications for the gold market.
"The big trading banks traditionally have occupied the short side of the paper gold market," Kosares writes. "Some analysts feel that those positions will be handed off to the hedge fund business so things won't change much. On the other hand, hedge funds are not considered too big to fail, so their bets could be placed more evenly on either side of the market."
Kosares' commentary is headlined "April Fools Drop-Dead Date for the Volcker Rule -- What It Might Mean for Gold" and it's posted at Centennial's Internet site, USAGold.com, here:
http://www.usagold.com/cpmforum/2014/03/26/volcker-rule-goes-into-effect...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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