The day before Basel III goes into effect, Mario Draghi slips in a ruling, under the radar that, "The European Central Bank needs to approve any operation in the foreign reserves of eurozone countries, including gold and large foreign currency holdings,"

Seems to me the EU is laying claim, ahead of time on any gold repatriated by any "sovereign" nations in the Eurozone? In case they might try to cut loose and run, they lay claim on that nation's gold reserves "legally"? Including Italy and the U.K. (Not that there is any, actual physical gold in the city of London any more, mind you! ;) )

Am I understanding this right???



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