Thread by @LordVXrp

THREAD 🚨
Basel III could be a game changer, As of June 28, 2021, Europe will stop considering unallocated paper gold as a Tier 1 asset. There must be a 100% physical backing, which should lead to a gold market that is more dependent on the physical metal. #GoldStandard
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This should simply be considered bullish for gold and all other precious metals. #XRP has been the cryptocurrency most correlated to gold and Bitcoin follows in second place.
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Specifically, #Ripple enables the following cost efficiencies:
- Basel III : With no in-flight period for the cross-border leg, associated Basel III costs
can be reduced by as much as 99 percent.
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Employing #Ripple and #XRP can help banks eliminate or lower these costs:
- Basel III : The opportunity cost to the sending institution of holding lower-yielding, high-quality liquid assets against credit exposure during the in-flight period.
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From @ripple 🧐 Is Your Bank Basel III Compliant? ripple.com/insights/is-yo…
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Nice words lol 🧐Basel III and the global level playing field bis.org/speeches/sp210…
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In March 2009, China formally requested a reform of the international monetary system and defined the system that was desired. They suggested setting up the #BANCOR that Keynes had proposed during Bretton Woods,
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that is to say a basket of national currencies, which would be guaranteed by a reserve of real assets in the form of commodities. The #BANCOR was a supranational currency that John Maynard Keynes conceptualised in the years 1940–1942 and which
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the United Kingdom proposed to introduce after World War II. The name was inspired by the French banque. This newly created supranational currency would then be used in international trade as a unit of account
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within a multilateral clearing system the International Clearing Union which would also have to be founded.
A Supra National currency was then part of the Keynes plan. Now, here is something additional that also caught my attention.
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#XRP was labelled a Supra National currency in an official document discussing Digital Fiat Currencies (DFC). The problem with the #SDR approach is that it could make the economic situation even worse than it is today.
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So #XRP in the new system will back CBDCs and #XRP will be backed by gold MAYBE. It will be stable, liquid and it will offer liquidity instead of basket of national currencies.
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I think soemthing really interesting is preparing with the BASEL III & GOLD and it's connect to #XRP.
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