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Market analyst
and fund manager Bruce Pile argues today that the Basel Committee on Banking
Supervision, a division of the Bank for International Settlements,
is, with its "Basel III" banking
rules, gradually returning gold to its role as international money and that
this will increase demand for gold among banks everywhere.
Pile seems to have been following
GATA's work, what with his
reference to the report written
about the BIS by Edward Jay Epstein in Harper's
magazine in 1983 and often
cited by GATA:
http://www.gata.org/search/node/Edward+Jay+Epstein
Pile's commentary
is headlined "Basel
III and Gold" and it's posted
at Seeking Alpha here:
http://seekingalpha.com/article/1016161-basel-iii-and-gold
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