Thursday, March 22, 2012

The Mediterranean raping of gold continues as Turkey enters the scene

The one thing that is almost always confirmed when the banking cartels take over a nation by military, political, or economic means is that shortly after, the nation's physical gold reserves will be plundered and moved to secret locations outside the hands of the citizens who own it.

We saw this occur in Libya after the revolution that took place last year, and more recently in Greece, where the Troika forced a central banker (Papademos) onto the people, and quickly instituted a takeover of their gold holdings.

Now it appears that Turkey may be joining the gold takeaway movement as government officials are asking their citizens to trade their physical gold in for worthless fiat currencies so the psuedo-EU nation can use it as collateral to the central banks to pay off growing debt obligations.

The WSJ reports that "The Turkish government, facing a bloated current-account deficit that threatens to derail the country's rapid expansion, is trying to persuade Turks to transfer their vast personal holdings of gold into the country's banking system." The reason: "The push to tap into the individual gold reserves—the traditional form of savings here—is part of Ankara's efforts to reduce a finance gap that is currently about 10% of gross domestic product." In other words, "sequester" the population's hard assets (politely of course), and convert these to paper to fund the country's creditors, both foreign and domestic. Mostly foreign. - Zerohedge

For a system that continues to tell the world that gold is a 'barbarous relic', they sure are doing their utmost to rid nations of their yellow metal for their own benefit and accumulation.


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