But German demands for penalties and holding ECB bailouts hostage is a game of chicken with worldwide implications.

FORBES: While Europe Slides, Germany Plays Hardball On Financial Transaction Tax

Meanwhile, with worldwide implications, Basel III, supported by the Federal Reserve and the FDIC, moves gold to a Tier I asset.

FORBES: Signs Of The Gold Standard Are Increasingly Emerging...Worldwide

Mr. FABIAN NUNEZ (California Assembly Speaker): California has had a history of taking leadership on environmental issues, but this, we believe, is going to have not just national but worldwide implications, with the goal of convincing the federal government that this country, who is the number one emitter of greenhouse gases, has to play a leadership role in curbing greenhouse gas emissions throughout the globe.

NPR: Calif. Diverges from U.S. with Greenhouse Gas Cuts