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‘Goldfinger’ 2021 plot twist could be villainous for banks

Under the new Basel III banking framework, not all gold assets will be considered equal, making it a challenge for bank balance sheets

©The Financial Times Limited 2020 Aug 20, 2021 / 01:08 PM IST
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‘Goldfinger’ 2021 plot twist could be villainous for banks

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Izabella Kaminska In the plot to the 1964 James Bond classic, international gold smuggler Auric Goldfinger hatches a dastardly plan to enrich himself and his outsized gold holdings by setting off a Chinese-made atomic bomb at Fort Knox, the home of the US gold reserve. Goldfinger’s rationale is that the nuclear fallout will render the US bullion unusable for many decades, impeding its mobility through the international financial system, and in so doing lift the value of his own unaffected supplies,...

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