Iran's President Hassan Rouhani, Russia's Vladimir Putin and Turkey's Tayyip Erdogan meet in Sochi, Russia November 22, 2017. (photo credit: SPUTNIK/MIKHAIL METZEL/KREMLIN VIA REUTERS) The Three Amigos
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.
Islam, with dreams of a neo Ottoman Empire.
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They already have it: Europe.
If Turkey experiences a financial collapse, where would the be able to secure it?
Turkey has been making war noises for a long time. Qatar has been the financier. Is Qatar wavering on that from Saudi and US pressure?
Lots of moving pieces here.
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>> “Why wouldn’t the gold be safe in Ankara or Istanbul?” <<
Israel’s nukes will melt any gold in Turkey. Nobody touches Switzerland.
If Ankara gets nuked, the gold becomes irrelevant.
Maybe the answer has to do with acceptable custody to borrow against.
Erdogan’s Neo Ottoman wet dream will not happen.
It was a horror in the beginning, that is why it was dismembered in 1918.
Most of the Middle East now understand it is insanity to try an live in 700 AD. All except the Islamist, like Erdogan and the Iranian Mullahs.
Yes, that is true.
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Hard to maintain a credit score in Hell.
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Why did Constantinople get the works?
The vault of the New York Federal Reserve Bank.
Or do you doubt that the gold was ever moved?
It could well have been moved. The IBS makes sense since both the Fed and the Turkish central bank are both members. It's a logical intermediary. Like I said, nineteen tons isn't a huge amount to move.
Wind up in the wrong hands. Erdogan just put down a military coup attempt a year or two ago.
Great Pic!
I’d hope we were clever enough to ship 19 tons of gold-plated tungsten. (Keeping a few “trump” cards up our sleeve)
It is not going to Turkey, but from what I read through the International bank of Settlements. Which may mean no physical movement of gold.
The consensus of some here seemed to question the accuracy of the mechanism mentioned in the article.
I plead ignorance about those details. Banker stuff.
Ok, tungsten-plated gold certificates, then
Could it be done with a paper transfer from one Reserve Bank to another? I assume it could.
But you know, the Banks insist on projecting a lot of illusions about the banking system’s actual mechanics.
Who knows?
No. Foreign entities own the physical gold bars that are deposited at the New York Fed. They number it, put their identifications on it, and it's not interchangeable with another nation's bullion. If Turkey wants its gold then they physically move it.
But you know, the Banks insist on projecting a lot of illusions about the banking system’s actual mechanics.
This is a bit different.
...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.
Thanks SaveFerris.
Iran's President Hassan Rouhani, Russia's Vladimir Putin and Turkey's Tayyip Erdogan meet in Sochi, Russia November 22, 2017. (photo credit: SPUTNIK/MIKHAIL METZEL/KREMLIN VIA REUTERS) The Three Amigos
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