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Russia, Iran, and Turkey Gold bloc...

Fatrat

Silver Miner
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Apr 15, 2018
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#1

andial

((( member )))
Midas Member
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#2
Like it but what Turkey has decided to do for now is tax US dollar accounts higher than Lira accounts i think it is a great move.

Turkey has lowered the level of withholding tax on lira bank deposits of more than one year to zero from 10 percent, while raising the tax level on foreign currency deposits of up to one year, the Official Gazette said on Aug. 31.
It said the withholding tax on deposits of up to one year was cut to 3 percent from 12 percent and the tax on deposits of up to six months was cut to 5 percent from 15 percent.
The tax on forex deposits of up to one year was raised to 16 percent from 15 percent. The changes will be in effect for three months, it said.
The lira strengthened by some 2.1 percent following the move, trading at 6.51 against the dollar.
https://www.google.com/amp/www.hurr...-deposits-raises-tax-on-forex-deposits-136332
 

Peter52

New Member
Joined
Nov 1, 2018
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#3
A gold backed currency implies the convertibility of that currency with gold.
As of today, if one of those countries declare this convertibility, its currency would crash immediately (everybody would sell the currency and exchange it for gold).
The journey to a gold-backed currency is (sadly) very long... :D