The world sent a clear signal to the US Federal Reserve and began to take its gold
The Central Bank of Turkey withdrew its gold reserves from the US Federal Reserve. According to data for 2016, it amounted to 28,689 tons of gold. The example of the Turkish Central Bank was followed by the largest private banks in the country. For example, Halk Bankası (People’s Bank) withdrew 29 tons of gold from other countries. Turkish financial organizations made such decisions after the call of President Recep Tayyip Erdogan to free himself from the pressure of the dollar and use gold against it.
This position of the Turkish authorities is quite understandable against the background of growing deterioration in relations between the US and Turkey. Washington’s key NATO partner, Ankara cannot forgive the US for supporting Syrian and Iraqi Kurds. After all, Erdogan considers the activities of Kurdish rebels as a direct threat to the territorial integrity of Turkey. Well, in addition, the deputy general director of the Turkish Halkbank, Mehmet Hakan Atilla, was recently arrested in the United States. He is suspected of trying to make multi-million dollar transactions in favor of Iran, bypassing US sanctions.
But if everything is clear with Turkey, then how to explain policies other states? Indeed, not only Turkey has recently withdrawn its gold from the USA. For example, the German Bundesbank also withdrew its gold reserves from the United States. 300 tons of precious metal returned to their homeland and were housed in Frankfurt am Main. Another 100 tons of gold were exported from the United States to the Netherlands. Both countries, like Turkey, are US allies in NATO.
Experts note that the outflow of gold from the US Federal Reserve began in 2014 and only increases over time. The explanation is quite simple. Political and economic The situation in the world has escalated. The United States unleashed trade wars against China, Russia, Europe, put pressure on the euro, the war in Syria lasts for years, to which Washington has a direct relationship. In such an environment, the countries of the world are trying to reduce their dependence on the dollar and ensure their economic security with their own gold.
It is known that in the modern world there is practically no alternative to gold. The presence of large gold reserves allows you not to be afraid of either economic sanctions or currency jumps. The dollar will collapse, the euro will collapse, and gold will remain at the same price as thousands of years ago. Therefore, countries not only withdraw gold reserves from the USA at their disposal, but also strive to increase their gold reserves in every way.
Russia took fifth place in the world in terms of gold reserves, first overtaking China. Russia's international gold and foreign exchange reserves now amount to $ 462,4 billion, with 18% accounted for by gold. Turkey is also trying to keep up - in 2017, it became the largest global buyer of gold after Russia, having acquired 187 tons of precious metal.
For the US, the withdrawal of gold from the Fed is a bad signal. The world is rapidly changing, and no one trusts Washington anymore. Both Russia, and China, and Turkey, and the EU countries are counting on their gold reserves, as they will help maintain economic positions even in the event of a total dollar fall.
This position of the Turkish authorities is quite understandable against the background of growing deterioration in relations between the US and Turkey. Washington’s key NATO partner, Ankara cannot forgive the US for supporting Syrian and Iraqi Kurds. After all, Erdogan considers the activities of Kurdish rebels as a direct threat to the territorial integrity of Turkey. Well, in addition, the deputy general director of the Turkish Halkbank, Mehmet Hakan Atilla, was recently arrested in the United States. He is suspected of trying to make multi-million dollar transactions in favor of Iran, bypassing US sanctions.
But if everything is clear with Turkey, then how to explain policies other states? Indeed, not only Turkey has recently withdrawn its gold from the USA. For example, the German Bundesbank also withdrew its gold reserves from the United States. 300 tons of precious metal returned to their homeland and were housed in Frankfurt am Main. Another 100 tons of gold were exported from the United States to the Netherlands. Both countries, like Turkey, are US allies in NATO.
Experts note that the outflow of gold from the US Federal Reserve began in 2014 and only increases over time. The explanation is quite simple. Political and economic The situation in the world has escalated. The United States unleashed trade wars against China, Russia, Europe, put pressure on the euro, the war in Syria lasts for years, to which Washington has a direct relationship. In such an environment, the countries of the world are trying to reduce their dependence on the dollar and ensure their economic security with their own gold.
It is known that in the modern world there is practically no alternative to gold. The presence of large gold reserves allows you not to be afraid of either economic sanctions or currency jumps. The dollar will collapse, the euro will collapse, and gold will remain at the same price as thousands of years ago. Therefore, countries not only withdraw gold reserves from the USA at their disposal, but also strive to increase their gold reserves in every way.
Russia took fifth place in the world in terms of gold reserves, first overtaking China. Russia's international gold and foreign exchange reserves now amount to $ 462,4 billion, with 18% accounted for by gold. Turkey is also trying to keep up - in 2017, it became the largest global buyer of gold after Russia, having acquired 187 tons of precious metal.
For the US, the withdrawal of gold from the Fed is a bad signal. The world is rapidly changing, and no one trusts Washington anymore. Both Russia, and China, and Turkey, and the EU countries are counting on their gold reserves, as they will help maintain economic positions even in the event of a total dollar fall.
Information