For all who know Ratatap
Basel 3 update from the Bank of International Settlements – October 2011.
Note – I believe Basel 3 implementation and compliance are important issues here as it relates to transparency in banking (as he states below). From my previous research – institutions were supposed to be Basel 3 compliant by 12/31/11; thus implementation was to be complete by the end of 2011. However, if you review the BIS update on Basel 3 (link above) it now appears that deadline was extended. I believe this entire process leading up to the RV is far larger than any of us can imagine and we are perhaps waiting on pieces of the puzzle we have not yet considered. The link below is from December 2010 but is a good overview of what Basel 3 is all about.
Ratatap on Lagarde Speech I listened to the call tonight and I hope they were not referring to me and my post yesterday about it will be a little bit longer. My thread is posted here: http://peoplestalkra….ust-being-real
I tried to explain it in layman terms in my thread but to expound upon that with today’s events, here is another example of accounting not being ready yet. In IMF’s Christine LaGardes speech that can be listened to here: http://www.imf.org/e….=1161614051001 at the 18:50 mark you will hear her talk about Basel 3. She is saying while Basel 2 took 8 years to put together, Basel 3 is COMING (Key word) together much faster.
So again I will say, floor 6 is not seeing 3 do justice yet and other departments are getting their houses in order. It can all change with an agreement of terms or should I say agreeing to the new terms of Basel 3.
People, do not lose heart, we are so close and it can happen very shortly. Again, watch the boards and see what is said about the US Treasury and see what is said about banks being made aware – these are all good signs that things are coming together. What Dan and Tony and Gary (at PTR) are saying (‘All is done’)- well, I believe that on certain levels and departments, all is done and they/we are waiting. But accounting is not cleaned up yet – that is all.
Now something to ponder, when we do the reset if it goes the way of total compliance, Treasury will be taking over our money again. Not the Reserve as it is. So imagine having to write software that WAS NEVER IN PLACE AT THE US TREASURY because they never had to do that part since the age of computers or since the Federal Reserve took over printing our money. It sure makes sense to me that programmers are at the US Treasury writing code and it is sensitive code – it is our financial future.
I do not claim to have the highest IQ but backing away from the boards and a little observation and tidbits from here and there would certainly lend credibility to my theory if you didn’t want to believe in the 6th floor scenario.
Hope this helps a little more if people need to know why a little longer….