Silver Report Uncut, Pimpy and Charles Ward Monday Morning 8-24-2020
Currency Collapse In Turkey Sets Off Bank Runs And People Begin Selling Homes & Cars For Gold
Silver Report Uncut: Aug 22, 2020
People are selling their homes and cars to buy gold in Turkey, anything to escape the falling value of their currency.
Vendors that sell gold at the Grand Bazaar are saying that there are no sellers right now coming into selling their jewelry or other gold products there are only buyers.
There are even reports of people going out and selling their homes selling their cars moving all of their savings into gold despite the record high gold price.
When you're stuck between the record-high gold price and a plunging fiat currency the true safe haven becomes gold bullion.
I don't blame them the Lira has lost around half of its value in the past few years and despite the constant stream of information telling everyone to keep their money in the banks and that their currency is perfectly stable people are still afraid.
They've created an insanely High-interest rate attempting to pay people to keep their money in the bank keep their money in the lira but it's not working.
Gold has been used as money for thousands of years it's no surprise to see it coming back to the Forefront as all of these countries seem to be noticed at once that Fiat currencies have no real value.
When the entire world began using the dollar it was pegged to a fixed weight of gold since then we've moved on to an all fiat currency and the value has collapsed
A reason to use the u.s. dollar back then was that it was as good as gold that's just not the case today and people use the dollar because they have no other choice.
These kinds of events have a way of leading people to take chances and whether we want to entertain the conversation or not the US dollar is heading for its own Day of Reckoning.
There have been currency controls set to reduce the Turkish holding of the dollar so it only leaves people with one real solution which is gold.
The citizens have been rushing out to withdraw their life savings and buy gold to preserve their purchasing power during fiat hyperinflation.
Darren in Plymouth has Questions for Charlie Ward
Charles Ward: Premiered 76 minutes ago