The European Banking Saga has to do with two things that are very interconnected. Those two things are - 1) The sovereignty of the States and 2) the gold reserves of the States. These two are connected because the gold is the money supply, and without it, the States would be broke and at the will of any bank that has gold.
This is not necessarily true. Money is not needed to achieve given rights and abilities. There is likely a parallel universe where no one cares about gold and silver and everyone works for the benefit of society. But here, now, money is important to the people of earth. We spend 40, maybe 50 hours a week at jobs doing things to create enough wealth to meet our goals. It may seem silly from afar, but this is what we do.
The wealth that people have is often stored in a cashe. Most people have chosen to keep their hoard in the form of stock cerificates, bonds, and cash. People also enjoy having deeds on structured land. Not many people own gold anymore, but there is one entity that does - the Central Banks.
It is the greatest misnomer in finance and economics right now: that we are no longer on a gold standard. The Central Banks of the world use gold as collateral for their loans; the use it to balance their liabilities by spinning it from a reserve to an asset. Gold very much backs the financial system, thus why it increases in price while fiat is printed.
The gold is held as a certificate at the Central Banks, essentially on loan from their Treasuries, who have the gold held at Forts like the Citedel and Knox. The custodians have not been audited for decades, by the way. The certificates may one day leave the hands of the Central Banks, but for now, the Banks act as the owner of the reserves.
Europe's case is similar, as to join the Euro reserves were pledged as collateral. As the banking crisis worsens, it is my thought that the European Central Bank is asking for more and more gold in exchange for all of these bailouts. This way they have something to balance their books.
One must ask, 'Is this crisis purposeful?' Was this crisis started with intent? This could be the case. It may be that The Central Banks, hoping to create a New World Order, have suckered in the States of the world to give up their gold. If the States give up their gold they have given up their money supply. If they have done this, the States have ultimately given up their power to govern themselves as sovereigns, because they will become reliant on the Central Banks for all things 'money'.