Posted on 05/27/2018 2:02:55 PM PDT by Texas Fossil
A Swiss news site has said that the Turkish treasury has moved 19 tons of gold to Switzerland from the United States in an attempt to dodge potential sanctions.
BZ Basel said the Bank for International Settlements in Basel, which is officially extraterritorial, with not even Swiss police being able to enter, had taken the shipment from Fort Knox.
The news site speculated that one reason for Turkey removing the reserves from the United States could be fear over possible economic sanctions on the country’s state owned bank Halkbank, which faces a likely fine following revelations that it allowed Iran to undermine U.S.-led economic sanctions.
The news follows reports in the Turkish press suggesting that Turkey was withdrawing its gold reserves from the United States.
No. They finished moving all that they wanted to back in February of 2017.
Yes!!
And Erdogan wonders why his currency is going south.
No F-35 for you.
5.56mm
No. The New York Fed doesn't charge for storage, just for moving.
The New York Fed stores gold for dozens of foreign countries and non-governmental orgnizations.
[It’s also a powerful indicator of Turkey’s intentions to do things that would cause sanctions]
Yes, they’ll be part of Ezekiel 38.
The Texas gold was held at commercial banks in New York City, and it was costing them a fair amount per bar every year. The Fed doesn't store gold for U.S. states or organizations.
It's safer in Switzerland. A successful coup can't get at it. It was safe in New York until talk of sanctions began.
After all, they ARE committed enemies of Western Civilization. Why should they enjoy the fruit of Western markets and capital?
Even the very construct of Western commerce?
No, they don’t get to play anymore.
What do the logistics look like to move 19 tons of gold? One large shipment? Several small ones? By air?
Germany moved almost 370 tons of gold between 2013 and 2017, roughly 2 or 3 years ahead of schedule.
The reason why Germany moved the gold in the first place is because of the same kind of internet rumors that run wild in the U.S. - people questioned whether the gold existed in the first place. The reason why it took as long as it did is because it's not safe or easy moving thousands of gold bars across the world and Germany had to have a place to store them once they were delivered.
Bundesbank Has Completed Gold Repatriation From New York Fed, Three Years Ahead Of Schedule
Did I say the Fed? OH, I get it, was from the article.
Ft Knox is the Fed Gold depository.
It looks like the author did not know that.
Well, if Turkey took 19 tons of gold from some US bank I bet the security was super tight.
Nineteen tons of gold are roughly 1500 gold bars. Not a huge number to ship but one that is likely done in several shipments rather than one. If it's going to Switzerland then I'm sure it went by air.
Significant?
BZ Basel said the Bank for International Settlements in Basel, which is officially extraterritorial, with not even Swiss police being able to enter, had taken the shipment from Fort Knox.
I just use several pallets and a fleet of C-17’s.
But that’s just me.
We’ll see. Erdogan being ... Erdogan ... who knows what is next?
Just when I’m getting over today’s assault by this a$$ole, William DeVane, you have to post his picture.
Fort Knox is the Treasury Gold Depository. The New York Fed stores over 5000 tons of gold belonging to foreign governments, foreign non-governmental organizations, and around 5 percent of the U.S. gold holdings.
It looks like the author did not know that.
I'm sure the author did.
Well, if Turkey took 19 tons of gold from some US bank I bet the security was super tight.
New York commercial banks hold gold for private individuals, commercial businesses, state and local entities but very little for foreign countries. From their standpoint why pay a bank to store gold when the Fed will do it for free?
Hey, at least it wasn’t Glenn Beck! ;)
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