In my opinion, Basel III will be insufficient to offset the losses that are already imbedded in the system. Back in the 1980’s during the last major banking crisis, the most capitalized large bank in Oklahoma had a capital structure of 10%, superior to the Basel III requirements. It did not matter. Real estate and commercial loan losses ate up that capital base quickly. Regulators were not as lenient then as they appear to be now. Ask Dr. William Black, former regulator during the S&L crisis. He claims that “felons” are running the financial institutions now, thus the system is primed for a meltdown. He may be right. Protect yourself if possible. The current system is extremely vulnerable to any unforeseen event that could cause the population to exit the banking system. That would be a “black swan” event. It is time to be vigilant and listen closely to Our Heavenly Father. Last week’s takedown of gold and silver may still be in play. Remember, gold will keep its value long after paper currency drops to zero.