The dwindling credit of Turkey and significant decline in its currency, has led to the new clever idea of confiscating gold with a smile.
The Turkish Central Bank has come up with an idea of how to confiscate private gold while pretending they are helping you earn more money. Their objective is to make the private gold stocks of the citizens available to the financial system for themselves, but how to sell that to the people?
The Turkish central bank is launching two new investment opportunities for physical gold, according to reports in the Daily Sabah.
They are issuing a gold bond on one hand and on the other an instrument for the loan of gold and gold jewelry.
The scheme is that the Turkish government is really seeking to use the precious metal in the private sector making it available to the financial industry.
This is being marketed as broadening the financial system allowing citizens to earn additional income with their gold reserves under their mattresses by turning it over to the government.