On Friday, Turkey unveiled its latest unorthodox financial surprise, when a local newspaper reported that Ankara will repatriate all of its gold held at the NY Fed. The stated reason: an attempt to circumvent the dollar. "Why do we make all loans in dollars? Let’s use another currency" said Turkey's president Recep Tayyip Erdogan during a speech at the Global Entrepreneurship Congress in Istanbul on April 16, according to Hurriyet.
" I suggest that the loans should be made based on gold."Venezuela's Gold Liquidation Accelerates; Will Be Out Of Gold In One Year
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