I know others have posted on this story, but I wanted to write on it as well. As reported by Zerohedge, Turkey, the 11th largest gold holder, wants to repatriate its gold stored in the US Federal Reserve.
Why would a country like Turkey want their pet rocks back?
Hmm maybe no everyone thinks of them as pet rocks. Erdoğan said, "Why do we make all loans in dollars? Let’s use another currency. I suggest that the loans should be made based on gold”.
Ahh so another country questioning the use of the dollar and going back to the time-tested store of wealth in gold.
Another thing to note, "the amount of physical gold stored at the NY Fed has dropped to the lowest on record."
We sure live in interesting times. I hope we don't all of a sudden have of some "conflicts" with Turkey, and if we do, we likely know the reason why.
The full article can be read here
Keep on Steemin and stackin on :)
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And they aren’t alone! Frankly the USA should of kept the gold they gave back to Germany (I don’t mean morally I mean knowing how corrupt things are) they should of said it’s a fee for WW2. The world reserve currency isn’t going to hold more then another decade or so.
Haha! Best of luck to them! :)
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Erdogan is afraid that if he starts more wars the country gold will be seized like happened with other similar (how to say) "Leaders"