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Turkey boasts the fourteenth largest economy and they’ve had easy access to global debt markets. If that debt were issued in terms of lira, no problem, it could be paid off with cheaper lira. Unfortunately, roughly $450bn of that debt was issued in terms of other fiat currencies, with USD denominated bonds making up a full third of that debt! Therefore, as the lira dies, that debt becomes impossible to repay. In terms of the USDs, spot gold has been hammered. In terms of lira, gold is at all-time highs. In reality, physical gold is simply providing its most important function, protecting wealth. If you want to know what to actually DO about all of this, that’s what we specialize in at ITM Trading. How do you protect your wealth for the next collapse and financial reset? Yes Gold and Silver, but what types? How much of each? What strategy? And what long term plan? If you’re asking these questions you’re already ahead of the game… We’re here to assist you, as it is our mission to safeguard the public from the inevitable downfall of the dollar.
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https://socioecohistory.wordpress.com/2018/08/16/contagion-why-turkey-could-gobble-up-the-world-by-lynette-zang/