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Basel 3 shows big powers want gold to replace dollar, Naylor-Leyland says
9:21p ET Wednesday, July 21, 2021
Dear Friend of GATA and Gold:
British gold fund manager Ned Naylor-Leyland is the guest on Sprott Money's "Ask the Expert" program this month, and interviewed by host Craig Hemke, Naylor-Leyland says the new "Basel 3" protocols for gold derivatives held by banks suggest that the G-20 powers and the Bank for International Settlements want gold to replace the U.S. dollar as the world's "risk-free instrument."
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Central bank demands for repatriation of their gold from foreign depositories jumped when the "Basel 3" protocols were first devised, Naylor-Leyland says. So, he adds, the protocols eventually will have an affect on the gold price.
Hemke's interview with Naylor-Leyland is 21 minutes long and can be heard at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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