Turkish Lira Gets Slammed After Tariffs Slapped on Aluminum and Steel.
Turkish President Erdoğan Urges Turks to Sell Their Gold For Lira.
Erdoğan had recently exhorted Turks to buy gold.
NEW! The Smaulgld Store is Now Open – Click to Visit the Smaulgld Store
Smaulgld Super Classic Mug – $23.99 with Free Shipping in the Continental United States.
Smaulgld Classic Mug – $19.99 with Free Shipping in the Continental United States.
Take Smaulgld To Go!
Smaulgld Livestream – August 10, 2018
Last night’s live stream discussed the currency crisis in Turkey and the President of Turkey’s reaction.
Watch the video companion to “Turkey’s President Says Buy Gold/Sell Gold as Turkish Lira Craters”
Compare American Silver Eagles for sale at:
Golden Eagle Coins
SD Bullion
Money Metals Exchange
You can buy Bitcoin, Ethereum and Litecoin through Coinbase.
Click HERE to open a coin base account and get $10 of free Bitcoin.*
Resources
From 2017 – “Turkey Gets Serious About Gold”
Turkey
I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!
— Donald J. Trump (@realDonaldTrump) August 10, 2018
Turkish lira hits record low after U.S. says reviewing duty-free access https://t.co/VIQiuJa4El
— Smaulgld (@Smaulgld) August 6, 2018
But Turkey's Central Bank is "Buying Gold Hand Over Fist"
Turkish lira hits record low after U.S. reviews duty-free access https://t.co/ZPtrhJ9gi1
— Smaulgld (@Smaulgld) August 7, 2018
Turkey May Be Locked Out of Bond Market as U.S. Sanctions Bite https://t.co/KAKnY2WqQr
— Smaulgld (@Smaulgld) August 8, 2018
Increasing #gold reserves has not helped these countries’ currencies https://t.co/fVyU3zHCRB
— Smaulgld (@Smaulgld) August 9, 2018
Gold doesnt fix structural issues in an economy or massive debt
— Smaulgld (@Smaulgld) August 9, 2018
Turkey’s plummeting lira is sending ripples of fear through global markets today https://t.co/O1u4Cc3XaI pic.twitter.com/HF15vKR5rp
— National Post (@nationalpost) August 10, 2018
I'm sorry, but when I hear a country's leader pleading that citizens sell their gold and deposit the money, I say "Game Over."https://t.co/YtoJdqGJqP
— Eddie van der Walt (@EdVanDerWalt) August 10, 2018
Actually it is consistent-
1. buy gold instead of dollars – to support the lira,
2. now sell that gold for lira to create demand for lira and add capital to the Turkish banks
— Smaulgld (@Smaulgld) August 10, 2018
Turkish lira plunges 20% versus dollar after Trump authorizes doubling metals tariffs on Turkey https://t.co/Jr7cxLJrsm
— Smaulgld (@Smaulgld) August 10, 2018
I can’t remember the last time I saw FX depreciation of up to 20%.
Thanks to Lord Erdogan. https://t.co/WtoFbvKSXU
— Michael (@lampidicsparrow) August 10, 2018
usually "not allowed" to happen
Since US has little trade with Turkey and its an intentional act, they "let" it happen— Smaulgld (@Smaulgld) August 10, 2018
But Turkey has gold! https://t.co/Wet1WcN6sD
— Smaulgld (@Smaulgld) August 10, 2018
Famous Last Words: Turkey's Erdogan dismisses lira fears, says 'we have our God' https://t.co/nZ24NxwAjm
— Smaulgld (@Smaulgld) August 10, 2018
Euro tumbles as investors fear bank exposures to Turkey https://t.co/opFHYrRpzY
— Smaulgld (@Smaulgld) August 10, 2018
Euro clobbered on Turkey turmoil as investors scramble for safety https://t.co/QPVcKz3IDG
— Smaulgld (@Smaulgld) August 10, 2018
Turkey's Erdogan calls on Turks to buy lira for 'national battle' https://t.co/bvNoy80Uza
— Smaulgld (@Smaulgld) August 10, 2018
Foreign Bank exposure to Turkey (all amounts $USD at end Q4 2017)
– Spain $83bln
– France $37bln
– UK $18.7bln
– US $17.7bln
– Germany $17.5bln
– Italy $16.9bln
– Japan $14blnSource: BIS
— Lawrence McDonald (@Convertbond) August 10, 2018
Russia
Russia's ruble extended its steepest slide in almost two years and government bonds slumped as new U.S. sanctions bite https://t.co/7xE68kmfcH via @markets
— Smaulgld (@Smaulgld) August 9, 2018
Despite adding record amounts of gold in each of 2016, 2017 and adding record pace amounts of gold in 2018.
Rouble, caught in 'perfect storm', sinks to lowest since mid-2016 https://t.co/V71tOj4YrN
— Smaulgld (@Smaulgld) August 10, 2018
Kazakhstan
Despite 43% #gold reserves at the National Bank of Kazakhstan:
Kazakhstan is ready to intervene to slow the tenge’s slide a day after U.S. sanctions battered Russia's ruble https://t.co/ZIO2Cj9MVA via @markets— Smaulgld (@Smaulgld) August 10, 2018
NEW! The Smaulgld Store is Now Open – Click to Visit the Smaulgld Store
Reasons to Buy and Hoard Mugs
- 1. Mugs have been used for drinking for more than 5,000 years.
- 2. They are finding more uses for mugs every day.
- 3. We could not live our lives without mugs.
- 4. The Russians and Chinese are buying mugs hand over fist.
- 5. Mugs are made in China
- 6. Mugs are hard assets
- 7. Mugs are real wealth
- 8. Mugs can’t go to zero
- 9. Mugs are Portable
- 10.Mugs are drinking vessels, Period.
Wait there is more:
You can mix Mountain House in a mug.
You can carry your barter silver in a mug.
You can do many things with mugs that you can not do with fiat currencies.
Measure your wealth in mugs.
They have Mugs at the offices of JP Morgan and Central Banks -that is all you need to know.
When TSHTF you’ll want to have your Smaulgld mug close by.
Buy your Smaulgld Mug(s) today.
Browse other Smaulgld Essentials
Check out all the Smaulgld podcasts here.
Donate To Smaulgld.com via paypal
Compare Pricing and Shipping on American Gold Eagle Coins
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
SD Bullion
Golden Eagle Coins
Money Metals Exchange
Compare American Silver Eagles for sale at:
Golden Eagle Coins
SD Bullion
Money Metals Exchange
Please consider making a small donation to Smaulgld.com. Thanks!
If you have enjoyed this report, please consider buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.