Ecuador Demands Repatriation Of One Third Of Its Gold Holdings

[pmbug]

... From Bloomberg:

Ecuador’s government wants the nation’s banks to repatriate about one third of their foreign holdings to support national growth, the head of the country’s tax agency said.

Carlos Carrasco, director of the tax agency known as the SRI, said today that Ecuador’s lenders could repatriate about $1.7 billion and still fulfill obligations to international clients. Carrasco spoke at a congressional hearing in Quito on a government proposal to raise taxes on banks to finance cash subsidies to the South American nation’s poor.

So yesterday: Germany... today: Ecuador... tomorrow: the World?
...

http://www.zerohedge.com/news/2012-...ands-repatriation-one-third-its-gold-holdings

Are we going to see the rehypothecation ponzi unwind?

 

[benjamen]

Add a few more countries to that list:
http://freedom4um.com/cgi-bin/readart.cgi?ArtNum=151095

"THE LIST HAS GROWN: SWITZERLAND, THE NETHERLANDS, AND ECUADOR JOIN GERMANY IN CALLS FOR AUDITS OF THEIR GOLD"