20190327-EOS has big announcement in June-Basel III and Gold
EOS – June will be the biggest news since EOSIO announcement.
-On Monday (25th March), Larimer was interacting with users of the EOS Telegram group when he let it slip that there is a big announcement on the way for EOS which is going to be officially revealed in June.
“June will be biggest news since EOSIO announcement,” said the EOS CEO.
-Currently the fifth biggest cryptocurrency in the market, EOS is one of the direct competitors of Ethereum, TRON and Cardano in terms of its smart contracts and dApp development capabilities. The project has been quiet recently and there haven’t been any major announcements since the launch of EOSIO version 1.6 back in January.
-Responding to one of the questions which compared the number of developers on EOS to Ethereum, where Ethereum is a clear winner, he said:
“Quality over quantity. ETH has many devs because their solutions are overly complicated by poor initial design […] No amount of Devs can fix what is wrong with ETH unless they pitchfork to something like EOSIO.”
Basel III and Gold by Bruce Pile:
-Basel III is an internationally agreed set of measures developed by the Basel Committee.
-Basel Committee is the central bank of the central banks in the world.
- The New York Times has called them "the secretive panel that establishes global banking rules"
- They meet four times a year in a little town called Basel in Switzerland. Edward Jay Epstein did an article on them for Harper's Magazine back in 1983 where he describes their shyness about publicity and the sophistication of their clubhouse. They have a nuclear bomb shelter in the basement, an entire hospital, as well as some 20 miles of subterranean archives. They make the Fed look like a lemonade stand.
-When did Basel Committee speak and what did it say? Well, they have spoken, with comprehensive new rule sets, "frameworks" they call them, only three times since their inception in 1974. In 1988, they issued Basel I and in 2004 it was Basel II. And now in 2012, they are issuing Basel III.
-They are men of few words. They issue no binding legislation, but in the banking world, what they say goes.
-Both Basel I and II took the then fashionable view of what money is - government bonds, mortgage backed securities, cash, etc. Gold was included in what they allow as capital, but as a "tier 3 asset" (not real money), and thus was only allowed to be reserves for loans at just 50% of its market value, much like, say an art collection would be.
-The most significant change is moving gold from its tier 3 status to tier 1 capital as 100% loan-backing reserves, the same as cash and bonds.
-For the first time in 42 years, gold is being brought back into our financial system as money. All the world's banks are now storing this metal, not as some 3rd rate "asset," but as all the world's working capital - its money.
-Brian Hicks to call it "The Secret Return to the Gold Standard." Brian Hicks is the managing editor and chief investment analyst of The Wealth Advisory.
- John Butler, managing director of Deutsche Bank of London, saying "In what might be the most under-reported financial story of the year" we are seeing an "important step in the re-monetization of gold." Reuters, he says, has quietly reported that "Banks are already preparing for the full implementation of gold's dominance as the new first class security for banking."
-Wendy: the above article was written in 2013. So the implementation of Basel III was delayed for 6 years until now.
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