Posted on 01/10/2026 11:12:30 AM PST by delta7
Türkiye will introduce a comprehensive digital tracking system for precious metals in April, effectively ending cash transactions in gold trading and requiring all purchases and sales at jewelry shops to be conducted through banks, credit cards or bank transfers
Called the Precious Metal Tracking System (KMTS), the new framework has been developed by the Turkish State Mint within the Treasury and Finance Ministry.
Under the new system, all gold sold in Türkiye, from one gram to one kilogram, will be required to carry an official Mint-issued banderol and certificate.
Each banderol will include a unique serial number, allowing authorities to track the gold’s origin, producer and entry into the market in real time.
Authorities say the system aims to curb the informal economy, combat counterfeit gold and strengthen oversight of the gold market.
With the new system, buyers will have to pay via bank transfer, credit card or debit card.
When individuals sell gold to a jeweler, an invoice will be issued in their name and the payment will be transferred directly to their bank account.
The system will also extend to high-value purchases made using proceeds from gold sales.
Banks will require documentation showing how the gold was acquired when customers attempt to deposit large sums obtained from selling gold, such as for buying property.
Funds that cannot be properly documented will not be accepted.
According to Jewelry Exporters’ Association President Burak Yakın, that is the primary challenge within the system.
“When you take that gold to the bank, they will demand a declaration form, asking, ‘Where did these funds come from?’ Only if you can provide proof — showing that you sold a house, a car or had registered gold — will the bank accept the deposit,” he explained. “Otherwise, they simply won't."
Yakın underlined that the system would fundamentally change how the sector operates.
"Every gold sale at a jeweler will now be formally invoiced, with payments processed directly through bank accounts. Similarly, when citizens purchase gold or bracelets, they will transfer the funds via bank wire — ensuring every transaction is fully documented,” he said. “The transition to this system will be implemented in phases.”
He added that the new rules would operate under the supervision of Türkiye’s Financial Crimes Investigation Board (MASAK) and represent a key step in efforts to prevent money laundering.
Participation in the system will be mandatory for all jewelers once it takes effect in April.
Keep stacking....those who hold the Gold ( not paper or electrons) will make the rules. Exciting times....as forecasted.
Register the guns.
Then seize the guns.
Register the gold.
Then… ?
“Keep stacking....those who hold the Gold ( not paper or electrons) will make the rules. Exciting times....as forecasted.”
Where’s our Ft. Knox audit?
Silver Reserves.
1. 🇵🇪 Peru 140k 21.9%
2. 🇦🇺 Australia 94k 14.7%
3. 🇷🇺 Russia 92k 14.4%
4. 🇨🇳 China 70k 10.9%
5. 🇵🇱 Poland 61k 9.5%
6. 🇲🇽 Mexico 37k 5.8%
7. 🇨🇱 Chile 26k 4.1%
8. 🇺🇸 United S 23k 3.6%
9. 🇧🇴 Bolivia 22k 3.4%
10. 🇮🇳 India 8k 1.3%
11. 🇦🇷 Argentina 6.5k 1.0%
12. 🇨🇦 Canada 4.9k 0.8%
Gold important, but Silver will ultimately decide who wins in the manufacturing sector, among others. The U.S. sold off their Strategic Silver supply in the early 80’s....you can still find 10 and 100 oz bars stating they are from our Reserves.
Trump has ALOT of catching up to do. He did nothing when the bankers continuously shorted and manipulated Silver down, enabling China and India to take massive deliveries at very low prices. If he doesn’t audit our Gold reserves ( as promised) it will be another huge mistake.
Footnote: Five Central Banks are now buying and stock piling Silver. Saudi Arabia, Russia, Singapore, China,....historic.
The English word for Turkey is Turkey, not some unpronounceable thing with dots over the letters.
AI:
“Central banks are increasingly buying silver to diversify their reserves, a shift from their traditional focus on gold. This trend is driven by factors such as economic uncertainty and the rising demand for silver in industrial applications.
El Pais BBC
Central Banks Purchasing Silver
Current Buyers
Several central banks have recently begun to diversify their reserves by purchasing silver:
Russia: The Russian central bank has increased its silver holdings as part of a strategy to diversify away from traditional gold reserves.
India: The Reserve Bank of India has also added physical silver to its reserves, marking a significant shift in its asset management strategy.
Saudi Arabia: The Saudi central bank has made notable purchases, including shares in silver ETFs, indicating a new interest in silver as a reserve asset.
Historical Context
For many years, central banks primarily focused on gold as their main reserve asset, largely ignoring silver. This trend has changed recently, with these three countries leading the way in recognizing silver’s potential as both an industrial metal and a monetary asset.
Implications for the Market
The actions of these central banks signal a growing recognition of silver’s value, which could influence market dynamics and investor behavior. As more central banks consider silver as a viable reserve asset, demand may increase, potentially impacting silver prices”
Pronounced “Turkia”..
“AI:
“Central banks are increasingly buying silver to diversify their reserves, a shift from their traditional focus on gold. “
Is that why Russia sold their gold reserves?
You were GOLD, GOLD GOLD till AFTER silver took off!
As usual, you try to jump on the train after it leaves the station.
The English word for Deutschland is “Germany”. The English word for Mumbai is “Bombay”. The English word for España is “Spain”.
Using foreign words for some but not all foreign countries is an affectation.
Poland is Polska. Warsaw is Warszawa.
I lost all my gold in a tragic goldfishing accident.
“The English word for Turkey is Turkey, not some unpronounceable thing with dots over the letters.”
LOL!
You expect a Turkish site to NOT use their own spelling?
It is a Turkish site ...
“I lost all my gold in a tragic goldfishing accident.”
Wiki
Hidden rare coins cache
In 2014, a day laborer sold a box of 58 rare coins to a Philadelphia thrift shop for $6,000, which he said he had found while clearing out the basement of a house in New Jersey. In 2017, when the thrift shop announced they were to auction the coins and they actually valued at $2.5 million, Armstrong came forward to declare himself the rightful owner. He claimed that he had hidden the coins in his mother’s old house to take them “off the books” in anticipation of the public offering of his firm. The thrift shop sued Armstrong, asking the court to declare the thrift shop as rightful owners while Armstrong counter-sued, also seeking ownership. In 2019, the U.S. government learned about the coins and claimed them as part of the treasure hoard Armstrong had refused to hand over in 1999, and for which he had served seven years in jail for contempt. In addition to rare coins, the treasure hoard, valued at $12.9 million, included 102 gold bars, 699 gold coins, and an ancient bust of Julius Caesar.[20][21] Armstrong was deposed. According to Receiver Alan M. Cohen, Armstrong admitted hiding the coins. Armstrong’s attorneys said in a court filing that Armstrong did not make this admission. The auction house now possesses the coins and the U.S. government filed suit to take possession.
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