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Old 11-13-2018, 08:57 AM   #1
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Banque de France wants Paris to compete with London for gold trade

Quote :
Paris has vaulting ambitions to capture a share of the world gold trade from London, reviving its historic role as a top-tier power in the international bullion market.

The Banque de France has teamed up with JP Morgan to offer a full range of swaps, leases, and gold deposits for global central banks and sovereign wealth funds. Global reserve managers will be able to pledge bullion as collateral for deposits or for raising foreign currency on the Paris market.
...
One aim is to muscle in on the swap business as gold becomes eligible collateral under the Basel III framework for banks. ...
More: http://gata.org/node/18607

I am interested to know more about that eligible collateral / Basel III comment. Last I had heard, they had declined to move gold to Tier 1.
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Old 11-13-2018, 09:24 AM   #2
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Good luck with that frog boys!!

The gold market is a very old and stubborn one, and I dare say they would be hard to convince to make any big, new, bold moves. Trust is hard to earn ion a business like that, and even harder to keep once you build it. Yanking up long growing roots and moving to an entirely new nation would be a disaster I believe.

Leave well enough alone I say.
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Old 11-14-2018, 12:37 PM   #3
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.

As one of my former squad leaders said so eloquently once upon a time "Fuck france!" His dad was stationed there when france left NATO & kicked out the U.S. military.

Excerpt from the end of the article;

"In 1966, upon being told that Charles de Gaulle had taken France out of NATO and that all U.S. troops must be evacuated from French soil, President Lyndon Johnson told Secretary of State Dean Rusk: 'Ask him about the cemeteries, Dean!'

So, at end of the meeting, Dean asked de Gaulle if his order to remove all U.S. troops from French soil also included the 60,000 plus soldiers buried in France from World War I and World War II. De Gaulle never answered. "



https://www.dailymail.co.uk/news/art...ssed-them.html

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Old Today, 09:00 AM   #4
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Interesting take on the story:
Quote :
...
As to whether Paris will “gradually re-emerge as a key marketplace for gold” as Sylvie Goulard claims, is unclear. But more importantly, it seems that if bullion banks (including JP Morgan) are engaging with the Banque de France on expanding gold lending out of Paris, then this is a sign that the bullion banks are having to look further afield for physical gold with which to continue to supply gold centres such as the Far East.
...
More (long): https://www.bullionstar.com/blogs/ro...-gold-lending/
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