STEEMIT Gold / Silver Report: Turkish consumers buying more gold in response to lira plunging, looming elections |


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Reminder that the Government of #Canadastan sold off all reserves of our gold not long ago, in early March of 2016.

Our money, like most, is literally backed by NOTHING and that is addressed in part in the COMER.org lawsuit against the government, to return the monetary policy to the hands of the PEOPLE.

COMER is the Canadian version of END THE FED in the USSA.

https://globalnews.ca/news/2557900/canada-sells-off-remaining-gold-reserves-has-just-77-ounces-left/?sf21979544=1


Resource Today:


Turkish consumers are buying more #gold in response to the lira plunging and the looming elections coming up in about a month.

  • Experts say this behaviour is in response to rising inflation and growing current account deficit.

  • In the first four months of 2018, the country imported 118 metric tons of bullion, worth ~$5 billion at today’s prices, the most over that period.

  • Gold priced in Turkish lira is now at the highest point in history.

  • Merchants at the Grand Bazaar say that the coin / gold demand is on the rise.

“Turkish people have an interesting behavior -- they buy gold when the prices are rising, they think it’s gonna rise more,” said Gokhan Karakan, 32, who runs a gold exchange office in the heart of Istanbul’s Grand Bazaar.

... “People think there is a trend here and choose to buy gold until uncertainty is out of the way.”

Source:

https://www.bloomberg.com/news/articles/2018-05-25/turkey-s-election-angst-is-driving-up-demand-for-gold-coins

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Other related news // Some silver news.


From Mike Maloney:

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