Turkish habit of stashing gold "under the pillow' hurts economy, government says - NPR
Turkish habit of stashing gold "under the pillow' hurts economy, government says - NPR
Source: NPR
―
DW NOTE
Turkey holds over 5,000 tonnes of gold in private hands — the world's fourth-largest hoard after central banks in the US, Germany, and Italy. Ankara wants it deposited so banks can lend against it. But when your currency has lost 93% against the dollar since 2008 and inflation spent most of the 2020s above 50%, calling thrift a drag on the economy is an impressive redefinition of the problem.