So, it's well known that Turkey is under extreme pressure with it's currency, the Turkish Lira.
The Lira has traded as high as 7 to 1 to the dollar over the past few weeks causing a bank meltdown in Turkey.
BUT.
Here's the problem.
TURKEY ISN'T ALONE WITH IT'S CURRENCY PROBLEMS.
WHO'S NEXT?
Well... let's see.. China? Italy? Argentina? Venezuela.
EM markets the world over are experiencing HUGE currency devaluations as the United States Federal Reserve reels in it's Quantitative Easing AND continues to raise interest rates.
THE MORAL OF THE STORY?
GET THE FUCK OUT OF GOLD.
EVENTUALLY THE MARKET WILL BE FLOODED WITH CHEAP GOLD AS COUNTRIES RUSH TO LIQUIDATE IT IN SUPPORT OF THEIR RESPECTIVE CURRENCIES.
PAY ATTENTION.
DO NOT BUY GOLD.
DON'T BE A GOLD TURKEY.