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Out Of Mind » DINARIAN SCAMTASTIC NEWS » RV/GCR, GURU CHATTER & NESARA INFO » Is the RV / GCR ready to be announced? This just happened and the media is keeping this quiet.

Is the RV / GCR ready to be announced? This just happened and the media is keeping this quiet.

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ANENRO

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Turkey Takes Possession of 220 Tons of Gold Repatriated from Federal Reserve
 
By Rory Hall
This is about as underreported as it gets. A tiny, almost nonexistent report appeared in Trend.az news service on Thursday April 19 announcing that Turkey’s Central Bank had moved 220 tons of gold out of the Federal Reserve System to take possession in Turkey. Trend is also reporting that an additional 95 tons of gold is being moved out of the Federal Reserve and back to Turkey.
Remember, gold is not money and more akin to a barbarous relic that is only held by Central Banks as a tradition. Right. Then why are some central banks repatriating their gold out of the Federal Reserve as Turkey just did?
In an article by Rufiz Hafizoglu and published at Trend.az, a news service located in Azerbaijan, the Turkish government has reportedly taken possession of 220 tons gold that was repatriated from the Federal Reserve. Trend did not specify a government official nor a government agency simply reporting Turkey’s Central Bank has transferred its gold reserves stored in the US Federal Reserve System to Turkey. Turkey’s total gold reserves was the entire 220 tons Turkey reported to have taken possession of on April 19, 2018. The total current value represents approximately $25.3 billion.
In the report Trend cited an additional 95 tons of gold that two different Turkish banks acquired, Ziraat and Vakifbank, but it is unclear to us wether this 95 tons is in addition to the reported 220 tons or is included in the overall.
Sputnik News is reporting slightly different amounts of gold being repatriated and citing different sources.
Local media cited government sources as saying that the Central Bank of the Republic of Turkey (CBRT) has transferred its gold reserves from the US Federal Reserve System to Ankara.
In March 2018, the CBRT’s gold reserves were worth 25.3 billion dollars; 220 tons of Turkish gold was stored in the US, according to the sources.
The largest private Turkish banks also withdrew their gold reserves from abroad, responding to President Recep Tayyip Erdogan’s call “to get rid of exchange rate’s pressure and to use gold against the dollar.”
In particular, the Halk Bankasi bank transferred 29 tons of gold to Turkey, according to the Turkish newspaper MilliyetSource
It seems nations making request to have their gold returned is being treated much differently these days and only being reported AFTER the gold has been shipped and accepted at the final destination.
Back in 2012 Venezuelan was one of the first nations to step up and make a lot of noise about wanting their gold repatriated. Several mainstream news articles and lots of fanfare from Venezuela ensured the world was watching.
The Bloomberg News story appended here reports on the arrival in Caracas on January 30, 2012, of the final shipment of Venezuela’s gold, 14 tonnes carried on a single flight. Bloomberg quotes the president of Venezuela’s central bank, Nelson Merentes, as saying: “In two months we’ve brought 160 tons of gold valued at around $9 billion back to Venezuela.”
By contrast, the Bundesbank first planned to take seven years to recover 300 tonnes from the New York Fed. If Venezuela’s pace had been adopted, the Bundesbank could have recovered those 300 tonnes in four months, and, if it has been so inclined, could have recovered its remaining 1,200 tonnes at the New York Fed in another 15 months or so. Source
After Venezuela, Germany’s repatriation story went off the rails and the news stories brought into question the Federal Reserve having any gold at all and brought into question why the Federal Reserve has not conducted a full audit since 1954. Germany had requested 300 tons – of Germany’s gold – be returned and the Federal Reserve explained it would take 7 years to return Germany’s gold back to Germany. There are, to this day, serious questions surrounding the German gold repatriation. Peter Boehringer has his doubts and he is the chief architect of the entire German gold repatriation movement.

PurpleSkyz

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Admin

Turkey Will Repatriate All Gold From The US In Attempt To Ditch The Dollar

Posted by Lou on April 21, 2018


Source link



http://www.zerohedge.com

by Tyler Durden
04/20/2018

After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, this morning Turkey also announced that it has decided to repatriate all its gold stored in the US Federal Reserve and deliver it to the Istanbul Stock Exchange, according to reports in Turkey’s Yeni Safak. It won’t be the first time Turkey has asked the NY Fed to ship the country’s gold back: in recent years, Turkey repatriated 220 tons of gold from abroad, of which 28.7 tons was brought back from the US last year.
According to the latest IMF data, Turkey’s gold reserves are estimated at 591 tons, worth just over $23 billion. This makes Ankara the 11th largest gold holder, behind the Netherlands and ahead of India.
[url=https://www.zerohedge.com/sites/default/files/inline-images/turkey gold holdings.jpg?itok=pRzwNxBr][/url]
Turkey’s gold repatriation come at a sensitive time for Turkey’s currency, the lira, which has been pounded, and plunged to all time lows against both the dollar and the euro despite runaway, double-digit inflation in Turkey, as the central bank is seemingly afraid of President Recep Tayyip Erdogan, and refuses to raise rates.
Meanwhile, Erdogan has taken a tough stance against the US currency, criticized dollar loans and saying that international loans should be given in gold instead.
“Why do we make all loans in dollars? Let’s use another currency. I suggest that the loans should be made based on gold,” Erdoğan said during a speech at the Global Entrepreneurship Congress in Istanbul on April 16, according to Hurriyet.
In what some saw an appeal for a gold standard by the Turkish president, Erdogan added that “with the dollar the world is always under exchange rate pressure. We should save states and nations from this exchange rate pressure. Gold has never been a tool of oppression throughout history.”
Well, now that Turkey will soon have all of its gold on the ground, Erdogan will be able to launch a gold-backed currency if he so desires. Unfortunately, all signs point to the gold being repatriated only so it can be raided, pillaged and promptly deposited in offshore vaults by members of the ruling oligarchy.
As noted above, Turkey has been one of several countries which have moved their gold from the world’s biggest, and most secure gold vault, that located 95 feet below sea level at 33 Liberty Street in Manhattan, also known as the New York Fed.
The repatriation wave began in 2012, when Venezuela announced it was withdrawing all of its 160 tons of gold at the NY Fed, valued at around $9 billion. Germany’s Bundesbank then demanded 300 tons be returned, with the Fed saying it would take seven years to do so; a scrambling Germany was able to complete the process 3 years ahead of schedule. The Netherlands has also repatriated 122.5 tons of gold.
As a result, according to the latest Fed data, the amount of physical gold stored at the NY Fed has dropped to the lowest on record, or 7.819 thousand tons, following a withdrawal scramble that started in 2014 and continued until the end of 2016. After a 15 month hiatus, withdrawals resumed in 2018, with 15.5 tons of gold repatriated in January and February.
[url=https://www.zerohedge.com/sites/default/files/inline-images/Gold NY Fed Feb 2018.jpg?itok=qTItlQjk][/url]
“The central banks started the repatriation already a few years ago, meaning before we had Brexit, Catalonia, Trump, AFD or the rising tensions between the Politburo in Brussels and the nations of Eastern Europe,” said Claudio Grass of Precious Metal Advisory in Switzerland.
According to him, the world is becoming less centralized. “If we follow this trend, it should be obvious that the next step should be an even bigger break up into smaller units than the nation state. With such geopolitical fragmentation comes also the decentralization of power.”


Thanks to Lou at: https://talesfromtheloublog.wordpress.com



  

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