The House of Rothschild has received a major kick in the teeth as Turkish citizens and banks have begun to drop the US dollar in favor of gold. Turkey has sharply ramped up gold buying, with both ordinary people and the central bank joining in on the rush.
another kick in the teeth for rothschild as turkey drop the dollar in favor of gold

The latest World Gold Council report shows that Turks have revolted against their dependency on the US dollar and the International Monetary Fund.The report states that investments in precious metals have reached a record high as the people rise up against the Rothschild-controlled IMF. “Bar and coin purchases, a measure of investment demand, were 47 metric tons so far in 2017, compared with 14.8 tons in the same period a year ago,” RT reports: The Turkish central bank has bought almost 30.4 tons of gold this year.

The surge in buying is reportedly triggered by state measures aimed at diversifying international reserves in light of rising tensions between Turkey and its traditional Western allies the US and Europe. 
A year ago, President Recep Tayyip Erdogan called on the Turkish public to keep savings in gold and avoid the US dollar, urging the central bank to back that policy.At the same time, the exchange value of the Turkish lira has dropped 15 percent since the beginning of October.The plunge inevitably makes the national currency increasingly unattractive as a savings vehicle.

Most emerging market currencies have been under pressure, but the US-Turkey row, escalated by tit-for-tat travel and visa restrictions, has boosted speculation.Meanwhile, global demand for gold continues to slump.It dropped nine percent to 915 metric tons in the third quarter of this year, the lowest level since 2009.The decline was reportedly caused by a softer quarter in the jewelry industry, and lower inflows into exchange-traded funds.

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© Neon Nettle

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