VIDEO Turkey Asks Citizens For Gold

China Connection

China Connection

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TURKEY Asks Citizens For GOLD. Jewelry to be MELTED DOWN for BULLION as RESERVES DANGEROUSLY LOW

About 15 minutes long

View: https://www.youtube.com/watch?v=GPIIp5DM5ok


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The Turkish Authorities have announced a scheme asking its citizens to hand over their GOLD. This gold will then be MELTED DOWN to create GOLD BULLION to boost the State's RESERVES. The Turkise Economy is currently under immense pressure with INFLATION at 50%, the Turkish Lira at an all time low and Gas supplies running out. The Foreign Currency Reserves have almost run out and this GOLD GRAB is a DESPERATE attempt to prevent the economy afloat. For more details check out the list of Chapters below. Thanks for watching and please LIKE and SUBSCRIBE.
 
Doc1

Doc1

Has No Life - Lives on TB
In 1933, FDR - by executive order - demanded that US citizens turn in their gold. In truth, there were a lot of loopholes which allowed people to keep a significant amount of gold, but the average citizen was unaware of these and turned in all of their gold. Those who turned in their gold were given Federal Reserve Notes in compensation. Six months later, gold was revalued upwards by about a third, costing those trusting souls who turned in their gold a third of the value of their newly-acquired FRNs.

In 1933, most American citizens trusted the government and felt it was their patriotic duty to hand over their gold and help the economy (as they had been told). In 2022 the dynamic is very different. Far fewer people trust government and gold holders tend to be among the least trustful.

It's not inconceivable that a future US Government will again call in the citizen's gold. I would expect extremely low compliance.

Best
Doc
 
Hfcomms

Hfcomms

EN66iq
Doc1 said:
It's not inconceivable that a future US Government will again call in the citizen's gold. I would expect extremely low compliance.

Best
Doc
Click to expand...


That is something a lot of people worry about and I really don't. Back in 33 gold was circulating as money in the system so there was a lot of it to be had and not so today. The most gold that the average person owns if any is their jewelry. Back during 2011 a lot of cash for gold shops sprang up and vacuumed a lot more of the gold up. So in reality there is very little of it around today compared to way back then.

One of the reasons why some go for collectibles is that gold bullion was confiscated back then whereas collectibles were immune. I only have collectibles myself as the premiums were so low that it really didn't cost a whole lot more than gold eagles and they do tend to fetch a larger price when you sell them even though the gold content is the same.

IIRC under the 33 rule was that every person could still own 5 ounces so if you have a family of four you could of kept 20 ounces of gold.

It is very possible that during a banking 'holiday' that safety deposit box contents might be confiscated so I wouldn't keep gold in a bank. Also possible that physical gold in self directed IRA's might fall under confiscation as only bullion gold is authorized to be in them.

But basically I think they would probably offer people a big premium over spot price to get you to turn in your gold voluntarily thinking your getting a great deal with all those dollars they give you [and prices are so high people need a lot of money to survive] and then a few months later they will turn around and revalue the gold several X over what they gave you for it.

And I figure that most of the gold coins/bars in private hands are owned by the 1% and these people either write the laws or influence those who write the laws and the kind of gold they hold will be safe. And lastly as was said back in 33 a lot of people trusted the government and were willing to do their civic duty. I think it would be a different story today.
 
Babs

Babs

Veteran Member
Doc1 said:
In 1933, FDR - by executive order - demanded that US citizens turn in their gold. In truth, there were a lot of loopholes which allowed people to keep a significant amount of gold, but the average citizen was unaware of these and turned in all of their gold. Those who turned in their gold were given Federal Reserve Notes in compensation. Six months later, gold was revalued upwards by about a third, costing those trusting souls who turned in their gold a third of the value of their newly-acquired FRNs.

In 1933, most American citizens trusted the government and felt it was their patriotic duty to hand over their gold and help the economy (as they had been told). In 2022 the dynamic is very different. Far fewer people trust government and gold holders tend to be among the least trustful.

It's not inconceivable that a future US Government will again call in the citizen's gold. I would expect extremely low compliance.

Best
Doc
Click to expand...

IIRC the gold wasn't even turned into the government. It was turned into the FEDERAL RESERVE.
 
W

wab54

Veteran Member
Hfcomms said:
It is very possible that during a banking 'holiday' that safety deposit box contents might be confiscated so I wouldn't keep gold in a bank. Also possible that physical gold in self directed IRA's might fall under confiscation as only bullion gold is authorized to be in them.
Click to expand...

I expect that to happen here as well. When the banks in Cyprus took all the customers money and robbed the safety deposit boxes, I went to my bank and took everything out of mine and closed it. Don't trust them at all.

WAB
 
West

West

Senior
Babs said:
IIRC the gold wasn't even turned into the government. It was turned into the FEDERAL RESERVE.
Click to expand...

Probably then giving to the IMF as seed capital. 187 banksters in 187 countries all with the same mindset. IMO, to suppress real gold being used as currency by citizens.
 
Melodi

Melodi

Disaster Cat
Many years ago (like in the 1970s) I was friends with a Turkish couple at my university - while they were not wealthy the wife had quite a bit of stunning gold jewelry. They were able to sell some of it when she had a difficult birth and had to pay the hospital bill - not all of it, just one piece. It was such high quality they had to go to New Orleans to sell it because the local places wouldn't touch it.

Anyway, she told once, "In Turkey, brides expert their husbands to give them gold jewelry, otherwise often they will refuse to marry them. That is a wife's security should anything happen to her husband or if there is an emergency. Even a poor man will try to give his wife at least one piece of gold."

If the government tries to take this stuff, the "New Ottoman Emperor" may likely find himself shot in the street, and/or his goons will be. Especially in the villages, and the women may help.

For many poorer women, this is their only security if their husband dies and it is saved to feed themselves and their kids.

Outside of India (where the custom is similar for both Hindus and Moslems), Turkey has some of the highest levels of personal gold ownership in the world or they did last time I looked.

This could get ugly...
 
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