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Marcus Curtis discusses Basel III

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Marcus Curtis discusses Basel III Empty Marcus Curtis discusses Basel III

Post by Ponee Thu Feb 27, 2014 4:51 pm

Posted by Marcus Curtis
 
February 27, 2014
 
 
I have looked into Basel III as well as other banking reforms. There is a restructuring going on and there is some truth that the U.S. dollar is losing reserve status. in part because of the 2008 meltdown and in part due to Q.E. which is about recovering from 2008. but when all is said and done I don’t believe in an overnight revalue that will make everyone millionaires. The Basel III initiatives are not even suppose to be fully implemented until 2018. These are basic banking reforms.
 
1999 Glass Steagall was replaced with Financial Services Modernization act. I think Basel III replaces some of the things lost in that as the Modernization act AKA Gram-Leach Bliley act which served to deregulate banks setting things up the 2008 meltdown. At least it is one thing that led to it.


Last edited by Ponee on Thu Feb 27, 2014 5:11 pm; edited 1 time in total

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Marcus Curtis discusses Basel III Empty Re: Marcus Curtis discusses Basel III

Post by Kevind53 Thu Feb 27, 2014 5:07 pm

Yes, Basil III is just basic banking reforms. On that much we agree. However, I doubt the USD will lose reserve status, with all it's difficulties, it is still the most stable currency in the world. Besides, the US is still THE engine that drives the world economy. I know, China, China ... but a guarantee you that if China stopped selling to us it would be an inconvenience, but if we stopped buying from China (or just about any other country,) it would ruin them. 

Our GDP is as large as the entire EU and more than twice the GDP of China and over 20% of the entire world's economy.

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