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Turkey finance minister,"TURN YOUR PRECIOUS GOLD OVER" for worthless lira (paper)

ANKARA, Turkey, February 8, 2022

Turkey and Venezuela are 1 and 2 in the World for the debasement of currency. According to some reports, the Turkish lira has lost half of it's value in the past 90 days.

Meanwhile the ECB has pledged no increase in European interest rates while TheFed still has to reduce buying 120 Billion in assets per month before they even start going down the rate hike road.

Turkey's infamous president Erdogan believes that lower interest rates actually reduce inflation — a view that's the exact opposite of what most economists would ever recommend. "How do these ivory tower academic economists know better for Turkey than I know is better for Turkey?"

Turkey will announce a new scheme on the weekend to encourage households to convert their gold holdings into liras.

Turkey asks citizens for Gold. Rhymes with the 1933 Gold confiscation executive order.

Follow the dots:

  • Mismanage the economy by printing more paper.

  • Throw gasoline on the fire by cutting rates.

  • Then confiscate everyone's gold.