World Blog by humble servant.CESAR ANALYSIS: The Bank Trilemma (2026)
CESAR ANALYSIS , examines the structural "trilemma" facing global bullion banks in early 2026. Following the full implementation of Basel III Endgame rules and the subsequent market volatility in January and February 2026, banks must choose one of three paths to resolve their massive "paper" liabilities. CESAR ANALYSIS: The Bank Trilemma (2026) Subject: Structural Liquidation vs. Physical Settlement in Precious Metals Market Context: Post-January Breakout & February Re-test (Gold: ~$5,000 | Silver: ~$80) The Executive Insight The "Paper-to-Physical" disconnect has reached a terminal phase. For decades, the price was dictated by the Paper Market (unallocated contracts). In 2026, the Physical Market has taken over. Basel III has removed the "cheap leverage" loophole, forcing banks into a corner where they can no longer suppress prices with "digits on a screen." They must now back their play with metal or capital. The Three Optio...