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Turkey moves gold to Switzerland – local news
Ahval (Events) ^ | May 24 2018 | none stated

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.


TOPICS: Crime/Corruption; Egypt; Foreign Affairs; Germany; Israel; News/Current Events; Russia; Syria; United Kingdom; War on Terror
KEYWORDS: egypt; erdogan; europeanunion; gaza; germany; gold; hamas; hassannasrallah; hezbollah; iran; isis; jordan; kurdistan; lebanon; nato; receptayyiperdogan; russia; sanctions; saudiarabia; sinai; switzerland; syria; turkey; unitedkingdom; yemen
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To: SeeSharp
Is Germany still trying to get their gold back?

No. They finished moving all that they wanted to back in February of 2017.

21 posted on 05/27/2018 2:30:42 PM PDT by DoodleDawg
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To: Larry Lucido

Yes!!


22 posted on 05/27/2018 2:31:11 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Texas Fossil

And Erdogan wonders why his currency is going south.

No F-35 for you.

5.56mm


23 posted on 05/27/2018 2:31:20 PM PDT by M Kehoe
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To: StormEye
I hope they were paying a fee for the storage and protection

No. The New York Fed doesn't charge for storage, just for moving.

24 posted on 05/27/2018 2:31:35 PM PDT by DoodleDawg
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To: StormEye
And why were they using a Fed. Gov. vault in the first place?

The New York Fed stores gold for dozens of foreign countries and non-governmental orgnizations.

25 posted on 05/27/2018 2:32:27 PM PDT by DoodleDawg
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To: DannyTN; SunkenCiv; RushIsMyTeddyBear; metmom; CynicalBear; SkyPilot; tuffydoodle; tang-soo; ...

[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.


26 posted on 05/27/2018 2:33:06 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Texas Fossil
I’ve not heard anything about it, but Texas did. I think they actually sold it in NY and arranged to take it from somewhere delivered in Texas. Anyway, Texas has their own Gold depository.

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.

27 posted on 05/27/2018 2:33:57 PM PDT by DoodleDawg
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To: Mariner
If they actually OWNED that gold they’d move it home to their own country.

It's safer in Switzerland. A successful coup can't get at it. It was safe in New York until talk of sanctions began.

28 posted on 05/27/2018 2:35:28 PM PDT by DoodleDawg
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To: Texas Fossil

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.


29 posted on 05/27/2018 2:38:16 PM PDT by Mariner (War Criminal #18)
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To: SaveFerris

What do the logistics look like to move 19 tons of gold? One large shipment? Several small ones? By air?


30 posted on 05/27/2018 2:42:41 PM PDT by Tea Party Terrorist (A bad peace is better than a good war.)
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To: Ronaldus Magnus
Not our country's finest moment.

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

31 posted on 05/27/2018 2:43:12 PM PDT by DoodleDawg
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To: DoodleDawg

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.


32 posted on 05/27/2018 2:45:14 PM PDT by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: Tea Party Terrorist
What do the logistics look like to move 19 tons of gold? One large shipment? Several small ones? By air?

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.

33 posted on 05/27/2018 2:48:51 PM PDT by DoodleDawg
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To: Texas Fossil; SaveFerris; Lera; SkyPilot

Significant?


34 posted on 05/27/2018 2:48:53 PM PDT by metmom ( ...fixing our eyes on Jesus, the Author and Perfecter of our faith..)
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To: DoodleDawg
I re-read the article. It is confusing.

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.

35 posted on 05/27/2018 2:49:31 PM PDT by Texas Fossil ((Texas is not where you were born, but a Free State of Heart, Mind & Attitude!))
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To: Tea Party Terrorist

I just use several pallets and a fleet of C-17’s.

But that’s just me.


36 posted on 05/27/2018 2:50:33 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: metmom

We’ll see. Erdogan being ... Erdogan ... who knows what is next?


37 posted on 05/27/2018 2:51:44 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Larry Lucido

Just when I’m getting over today’s assault by this a$$ole, William DeVane, you have to post his picture.


38 posted on 05/27/2018 2:54:36 PM PDT by vette6387
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To: Texas Fossil
Ft Knox is the Fed Gold depository.

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?

39 posted on 05/27/2018 2:55:33 PM PDT by DoodleDawg
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To: vette6387; Larry Lucido

Hey, at least it wasn’t Glenn Beck! ;)


40 posted on 05/27/2018 2:58:19 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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