Ankara has decided to bring back all its gold stored in the US Federal Reserve, according to Turkish media. In recent years, Turkey repatriated 220 tons of gold from abroad, and 28.7 tons was brought back from the US last year.
Turkey’s gold reserves are estimated at 564 tons and are worth about $20 billion, Turkish newspaper Yeni Safak reported. This makes Ankara the 11th largest gold holder, behind the Netherlands and ahead of India. The reports come at a time when Turkish President Recep Tayyip Erdogan has taken a tough stance against the US currency.
This week he criticized dollar loans and said that international loans should be given in gold instead. "Why do we make all loans in dollars? Let’s use another currency. I suggest that the loans should be made based on gold,” Erdoğan said during a speech at the Global Entrepreneurship Congress in Istanbul on April 16, according to Hurriyet.
“With the dollar the world is always under exchange rate pressure. We should save states and nations from this exchange rate pressure. Gold has never been a tool of oppression throughout history,” he added.
more:
https://www.rt.com/business/424670-gold-turkey-repatriation-dollar/
And Americans should realize what kind of shitstorm is heading their way. Most think everything will stay the same but besides the crisis that will come, the way the government will crack down on it's citizens will be horrific.
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