{"id":33760,"date":"2018-04-26T06:43:13","date_gmt":"2018-04-26T11:43:13","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33760"},"modified":"2018-04-26T06:43:13","modified_gmt":"2018-04-26T11:43:13","slug":"gold-leaving-us-vaults-signs-of-upcoming-currency-war-and-armed-conflict","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33760","title":{"rendered":"Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict"},"content":{"rendered":"
\"Gold<\/p>\n

Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict<\/a><\/h3>\n<\/header>\n

The Turkish government has made the decision to repatriate all of its gold reserves that are currently housed in the US Federal Reserve System (FRS). Overall Turkey was storing\u00a0220 tonnes<\/a>, valued at $25.3 billion, in the US, which it repossessed on April 19, 2018.<\/p>\n

Turkey\u2019s President Recep Tayyip Erdogan\u00a0has toughened his stance<\/a>\u00a0against the US dollar (USD), declaring that international loans should be made in gold instead of the American currency. Ankara is seeking to reduce dependence on the US financial system. The gold\u2019s homecoming was partly prompted by the US threats to impose sanctions if Turkey goes through with the signed deal to purchase Russian\u00a0S-400 missile defense systems<\/a>.<\/p>\n

This is a dramatic move reflecting an international trend. Venezuela\u00a0repatriated<\/a>\u00a0its gold from the US in 2012. In 2014, the Netherlands also retrieved its 122.5 tonnes of gold that were stored in US vaults. Germany\u00a0brought home<\/a>\u00a0300 metric tonnes of gold stashed in the United States in 2017. It took Berlin four years to complete the transfers.\u00a0Austria<\/a>\u00a0and\u00a0Belgium<\/a>\u00a0have reviewed<\/a>\u00a0the possibility of taking similar measures.<\/p>\n

Few people believe the US Treasury\u2019s assurances that the 261 million ounces (roughly 8,100 tonnes) in official gold reserves that are stored in Fort Knox and other places are fully audited and accounted for. The Federal Reserve\u00a0has never been fully and independently audited<\/a>. The pressure for a full, independent audit of all US gold reserves has always been resisted by the government and in Congress.\u00a0Nobody knows<\/a>\u00a0if the gold is really there. What if the vaults\u00a0turn out to be empty<\/a>? It\u2019s wiser to bring your gold home while you can, rather than to just keep on wondering.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict The Turkish government has made the decision to repatriate all of its gold reserves that are currently housed in the US Federal Reserve System (FRS). Overall Turkey was storing\u00a0220 tonnes, valued at $25.3 billion, in the US, which it repossessed on April 19, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[19935,1098,303,374,1865,16490,8203,818,839,3650,862],"class_list":["post-33760","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-armed-conflict","tag-currency-wars","tag-fed","tag-gold","tag-gold-reserves","tag-peter-korzun","tag-strategic-culture-foundation","tag-turkey","tag-us-dollar","tag-us-federal-reserve","tag-war"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33760"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33760\/revisions"}],"predecessor-version":[{"id":33761,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33760\/revisions\/33761"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}