Post
Topic
Board Economics
Re: Turkey Will Repatriate All Gold From The US To Ditch The Dollar
by
audaciousbeing
on 21/04/2018, 09:40:07 UTC
Reading through the article gave me an understanding of what I have been ignorant about before on this gold issue being the bedrock of currency. There was this movie I watched in the past that was directed at moving gold from the community thereby making their currency worthless. But why on heart would a country go ahead and put its own gold in the custodian of another country?

The significance of this decision would make a lot in increasing the value of Turkey's currency but I don't see so much effect on the dollar because first is that they are at number 11th largest owner, they own 591 tons compared to US holding above 8000 couple with the cushioning effect that would have been put in play by the managers of the economy of the United States.