gold, page-95426

Well put.
BASEL lll has to be enacted by each country within its' regulatory system and politics will almost certainly get in the way.
I think Europe bears a grudge over the GFC and Germany is probably fuming over the initial refusal to allow repatriation of their gold. Since the GFC, moves to repatriate gold have picked up but when Venezuela was blocked (rightly or wrongly) this would have sent shivers through the banking system.
The US want to maintain Dollar hegemony and have the rest of the world pay for their profligacy. Much of the world has been forced onto the SWIFT system that the US control under the guise of a never-ending war on terror. And of course, as you state, they export their inflation.
At the end of the day it comes down to trust and it appears the LBMA, COMEX (and lack of regulatory control) and US financial system have used it all up.
The end result will be a blockbuster movie.