I have long heard the conspiracy theory on central banks trying to depress gold price so to promote their fiat-currency, reserve banking system. It was all talks and hypotheses, but I was shocked today to see that RSF (Required Stable Funding) factor for gold is 50% in BIS's consultant paper on liquidity management. What does it mean? RSF is basically the haircut to asset value at one-year liquidation horizon.
As a reference, RSF for cash is 0%, for HG corporate bonds is 20%. It is however as high as 50% for equities and gold. Wouldn't gold be more valuable and easier to sell at times of stress?
The message: should this be adopted by worldwide regulators, from a liquidity perspective, banks will be severely penalized for hoarding gold instead of cash. I am very intrigued and I hope someone can enlighten me why this is not a conspiracy.

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