testing the ban waters
not banned, got on ok, just logged in after reading it all, just in case
missed it all on qr, including the ban I guess
Turkey was running guns for the C_A and Bam state dept and wreaking havoc in Syria and Libya and getting paid for it, when Trump won Erdy got rid of his Fed Bank chief and put a new one as the money there collapsed, just another knock with this firing, can't stop what's coming, he must still be getting money for war but it's a much smaller theatre and he didn't find Putin to be his partner either
Turkey’s central bank has accumulated an additional 400 metric tonnes of gold since 2011 (Image via Wikimedia)
Turkey’s economy has been in a tailspin with an inflationary currency, but the country is using something rare to help stabilise itself: gold.
In late 2011, Turkey started to allow commercial banks to use gold instead of the Turkish lira for their required deposits at the central bank. These deposits are known as reserve requirements and help ensure that the banks are capitalised.
Over the past six-or-so years, Turkey’s central bank has accumulated an additional 400 metric tonnes of gold. That’s a lot of yellow bricks – more than what Britain has – and the sizeable stash has the possibility to take the edge off the crisis.
To put the Turkish gold haul in perspective, there are 10 million ounces of gold – roughly 311 tonnes – at the Bank of England, according to the New York-based financial consulting firm CPM Group.
The burgeoning balance of bullion comes as the result of a change in banking rules made earlier this decade.
“I thought the Turkish thing was pure genius,” says Jeff Christian, founder of CPM Group. “It was using gold in the way that you should use it.”
In the simplest terms, the tweak to the rules allows gold to be used as a financial asset by the banks. In addition, the new regulation helped flush out a lot of gold that was previously held privately.
“This change allowed the government to get hold of the under-the-mattress gold to help stabilise the banks and the underlying economy,” says Ivo Pezzuto, professor of global economics, entrepreneurship, and disruptive innovation at the International School of Management, Paris, France.
The result of the policy change has been that Turkey’s central bank has seen a huge jump in its apparent gold holdings.
There are now more than 18 million troy ounces of bullion deposited at Turkey’s central bank, up from less than four million before the rule change was introduced in 2011, according to the latest data from CPM Group. There are 32,150.7 troy ounces in a metric tonne.
Private gold deposits into Turkey’s central bank
Almost all of the increase came from commercial bank deposits of the metal at the central bank, rather than government purchases to bolster national reserves.
The Turkish gold, which previously would have languished under the proverbial mattresses, or in private safety deposit boxes, now serves a more useful economic purpose in allowing the banks to make more lira-based loans.
It also helps the banks during times of high inflation.
With inflation running at a 40 percent annualised rate, the value of the gold grows as well when measured in terms of lira. In short, the commercial banks’ deposits of gold become worth more and more in terms of the local currency as inflation rages onward and upwards.
Although the purchasing power of the local currency dwindles with each passing day of double-digit inflation, the gold’s value does not. For instance, while one dollar fetched 4.10 lira a month ago, it will now buy 4.53 lira, meaning the lira has fallen in value. Whereas, gold prices in dollars have remained roughly static versus the beginning of the same period.
So what does this all mean? It means that managers at commercial banks don’t have to worry as much about continually sending more deposits to the central bank to maintain the required reserves.
The value of the gold naturally adjusts upwards, meaning if the bank is growing its loan book, it doesn’t need to worry as much about stashing more cash with the central bank. Put another way, it automatically can help stabilise the banks’ finances – at least in theory.
However, it is also worth remembering that the government does not own these additional gold reserves. They are the assets of the commercial banks and/or those of the investors who deposited their bullion with the financial institution.
That in turn means that private investors have the choice to get their gold returned to them. It’s basically the same as someone taking cash out of a deposit account. It is also true that everyone taking their cash out would likely cripple a bank.
Similarly, although not identical, it is true with the gold that the investors deposited. If everyone took out their gold then the banks would need to immediately send a slew of Turkish lira to the central bank, which is theoretically possible.
Turkey’s economic problems
However, Turkey’s implementation of gold deposits may not offset its economic problems in the long run.
Turkey has a credit problem, which Middle East Eye reported last September. The economy grew too rapidly and sparked high inflation.
Ballooning inflation has led to the dwindling value of the lira. One dollar would fetch 4.48 Turkish lira recently versus 3.52 lira on 1 June 2017, according to data from Bloomberg.
While the official rate of inflation was an annualised 10.85 percent in April, which seems relatively measured for the economy, it may not reflect reality.
A more realistic rate is likely 40 percent, according to estimates from Steve Hanke, professor of applied economics at Johns Hopkins University, and also an expert on inflation. He uses a technique known by economists as purchasing-power-parity, which looks at the actual cost of goods and services inside Turkey.
The plunging currency has come hand-in-glove with a scramble for the exits by investors who wish to save their capital from the wealth-withering surge in the cost of living. In other words, they have sold their lira-denominated investments in favour of US dollars and other major currencies that aren’t suffering from high inflation.
“Basically the problem is that inflation is very high and they don’t want to slow the economy in order to crush the inflation,” Pezzuto says.
Those two policies tend not to go hand in hand, so observers are anticipating more inflation for the time being.
Courtesy of Middle East Eye
https://news.goldcore.com/uk/gold-blog/turkey-gold-bullion-currency/
https://www.iccwales.com/
wrong pic,correct pic linked
Never have statisticians, mathematical biologists, psychologists, anthropologists, behavioural scientists and a few epidemiologists dictated government policy to such an extreme degree as over the past year.
This article was originally published by ‘The Conservative Woman’ in three parts – Part 1, Part 2, Part 3, authored by Sonia Elijah and has been republished on ‘The Daily Expose’ at the request of the original publishers and author.
On March 25, 2020, the Coronavirus Act received Royal Assent having been fast-tracked through Parliament in four working days. The Act contained emergency powers to enable public bodies to respond to the Covid-19 pandemic. The Government’s Scientific Advisory Group for Emergencies, or Sage, and its subcommittees became the de facto leader of the operation. This was the point at which the UK ceased to be governed by elected representatives.
To this day, Sage do not answer to the public – they don’t even answer to the government. They ‘advise’ the government on all things Covid, and the government is then led by the ‘data’ to implement the most draconian restrictions on freedom in our nation’s history. Sage are accountable to no one. In my opinion, Sage have staged a covert coup and hardly anybody has taken notice, let alone the mainstream media.
https://dailyexpose.co.uk/2021/03/18/how-sage-stole-the-keys-to-the-united-kingdom/
https://paper.li/JudahsTrumpets/1561066795#/
https://twitter.com/JudahsTrumpets/status/1373389721599098882
https://t.me/s/georgenews
With some Americans feeling hesitant about getting a COVID-19 shot, evangelist Franklin Graham is urging pastors to encourage their congregations to trust in the vaccines.
Graham, the president and CEO of the Billy Graham Evangelistic Association (BGEA) and Samaritan's Purse, told ABC News that there could be harmful consequences if pastors discourage church members from receiving the shot.
"I would hope that the pastors in the pulpit would tell people how they can be saved from God's judgment," Graham said. "I think for a pastor to tell someone not to take the vaccine is problematic because what would happen if that person got coronavirus and died?"
"I think if there were vaccines available in the time of Christ, Jesus would have made reference to them and used them," he added.
In a Facebook post earlier this month, Graham praised God for positive achievements that have occurred over the past year.
"I'm thankful to God that we are seeing a decline in COVID-19 cases, and that steps are being taken to open our economy back up, get people back to work, and get children back to school. We thank God for these steps forward. Continue to pray for our nation."
As certain voices are censored and free speech platforms shut down, be sure to sign up for CBN News emails and the CBN News app to ensure you keep receiving news from a Christian Perspective.
Additionally, Pastor John Hagee with Cornerstone Church in San Antonio, Texas stands by the connection between scripture and science.
Hagee, who tested positive for COVID last October, "believes in both the power of prayer and modern medicine. These are not mutually exclusive," said a Hagee Ministries spokesperson on his behalf.
Most importantly, these evangelists are reminding Americans that God is the Creator of science and medicine and vaccines can have a positive impact on our lives.
Romans 1:20 explains that the work of God's hand is unmistakable and the evidence proving this is irrefutable: "For since the creation of the world, His invisible attributes, His eternal nature, have been clearly seen, being understood through what has been made, so that they are without excuse."
https://8kun.top/midnightriders/res/71963.html#72058
https://newscoup.com/
https://www.washingtonpost.com/national/migrant-families-flights-canadian-border/2021/03/19/7885433c-88da-11eb-8a67-f314e5fcf88d_story.html
A new spike in the number of families and children crossing the Rio Grande into South Texas over the past several hours is forcing U.S. Customs and Border Protection to request airplanes that will allow the Biden administration to transport migrants to states near the Canadian border for processing, according to two Department of Homeland Security officials and an email reviewed by The Washington Post.
Border officials requested the air support from U.S. Immigration and Customs Enforcement because 1,000 members of families and unaccompanied minors crossed the Rio Grande on Friday morning, and border agents have another 1,000 migrants they have been unable to process since last night, the communications show.
Hundreds of minors are crossing the border each day without their parents. Who are they?
The air transport plan is the latest measure in the Biden administration’s scramble to contend with a widening emergency that officials say they do not view as a “crisis” but a “stressful challenge.”
The extraordinary volume of unauthorized border crossings in recent days has left the families and minors waiting hours outdoors, many under a bridge next to the river where CBP is operating a large outdoor processing station. The backups have been exacerbated by the more than 4,500 unaccompanied teenagers and children held in detention cells and border tent sites, a record number.
past the quarter, not quite half
>>72001 Planefag GOLD
>>72060 Biden considers processing/flying migrants at Canadian border
>>72059 Christianity used to push the narrative
>>72054, >>72055, >>72058 George News-Save America-PDJT
>>72052 Arizona State Senate Orders HAND RECOUNT of 2.1 Million Ballots from 2020 Presidential Election…
>>72051 Patriot
>>72050 How SAGE stole the keys to the UK
>>72048 @USMC Then and now, ready to fight tonight if needed.
>>72040 Quarterly Report on Bank Trading and Derivatives Activities-Dec 2020
>>72037 Pelosi Said She Will Not Entertain Removing Greene From Congress
>>72036 Google describes Richard Grenell, ex-intelligence chief and possible candidate for California governor, as ‘president since 2021’
>>72035 Digital Trails: How The FBI Is Identifying, Tracking, & Rounding-Up Dissidents
>>72011, >>72013, >>72015, >>72019 Get ready for Trump 2021/22
>>72004, >>71905, >>71907, >>71908 WILLIAM VANDERBILT (Gloria Vanderbilt's Great Great Grandfather) paid to have 1 of 2 Egyptian Obelisks brought to NY, Puts it in Central Park
>>72003, >>72024, >>72032 Erdogan sacks another central bank chief after sharp rate hike
#322
lemme know
I ate, kekkin hard, just one slice pizza though, had some leftovers, still cravin pizza, next week I guess
kek
not sure what is up, if you didn't get a random ban I'd say you guud
seems there was another round of botspam next door
imma sittin on the kill switch now
imma old, Tom, it's qool, I earned muh greys
LMAO
no, it wasn't that long ago but I am privileged in muh lifetime to see all the BS come to an end, the hippies got lost in making money and fighting establishment to make new, more fucked up establishment, my generation said fuck it all and we have, every chance we got, being respectable and responsible and mostly drug free
kek
sex and rock n roll, well……………………………
watched many of those when he was in Nam, pretty qool to ride with him though