“Amid the brouhaha over Germany’s gold reserves at the Bundesbank, there’s another central bank using gold actively to bolster its currency and financial stability. The strategy looks the same – sitting on big stockpiles of the stuff. But the aim differs, because gold is much closer to the everyday financial system. Starting in October 2011, the central bank began allowing commercial banks to hold a portion of their ‘required reserves’ – needed to reassure depositors and other creditors they had plenty of money to hand – in physical gold bullion. Starting at 10%, that proportion was then raised to 30%.”
http://www.businessinsider.com/how-the-central-bank-of-turkey-uses-gold-2013-1
Related posts:
Housing Prices Starting to Melt Up
The Little Known Law That Lets Hospitals Shut Down Competition
Police Department Planted Drugs on Young Black Men For Years; D.A. Complicit
Epic investor debate featuring faceoff between Peter Schiff and John Mauldin
Maybe the Most Orwellian Text Message a Government's Ever Sent
Why Roger Stone’s JFK book has to be taken seriously
Demand A Real Plan
International 'war' on illegal drugs is failing to curb supply
Who’s Hiring in the U.S. and What They Pay
You’re Much More Likely to Be Killed By Lightning than by a Terrorist
Germany begs Sweden for more coal as renewable energy plan falters
Swiss Government to Write Report on Dangers of Bitcoin
Judge's Handyman Cops Plea in Georgia Sex, Drugs, Frame-Up
Facebook yields to remove Hezbollah page under CIA pressure
'Florida's Dirtiest Cop' Charged With Kidnapping Man Who Wanted To File Brutality Complaint