The depreciation of the national currency in the Republic of Turkey has been progressing for 4 years. In 2014, the price of the US dollar equaled to 2,25 Turkish liras. Within three years, the monetary unit of Turkey has gradually fallen in price, and by January 2018, the dollar cost 3,7 liras, and in early August — 7. The inflation rate in the country reached 20%. Experts predict that the decline of the Turkish lira will carry on, and the economic situation will worsen.
Financial crisis. Consequence
Turkish money has lost half of its purchasing power with a risk of losing even more. Suffering tourist business: prices for vacation in popular hotels may decline. Six power plants, which purchased fuel abroad, temporarily ceased their work. Food prices are on the rise.
The President of Turkey, fearing for the national currency’s further fall, publicly asked the people to exchange personal savings in dollars, euros and gold for Turkish liras. The majority of the population did not follow this advice, but continued to buy hard currency, heating up a new wave of lira’s fall.
In the photo: Queue to the currency exchange point in the center of Istanbul.
Turkish citizens caught the LFS virus
During the financial crisis, the pressure on the psyche of an ordinary person gets enormous. The overarching negativity that is in the air can be compared with an epidemic. The virus spreads quickly and affects society. We call it the Lack of Financial Security virus, or the LFS virus.
In this situation, people commit rash acts. They break away and try to migrate to countries with a better standard of living. This puts them under more stress. Or, on the contrary, they stay inactive, in the hope that the situation will improve itself. In this way they bring financial collapse closer.
Symptoms of the LFS virus, which affect the citizens of Turkey:
1.Inability to repay debts and protect personal interests
2.Difficulties in saving real estate, work, property
3.There is a high risk of potential relationship breakup in a family
Gold saves from a disaster
The average income-based and the largest part of the population of the Republic of Turkey is at the risk of losing their savings.
This is what Elizabeth Brieger, a journalist who has lived in Turkey for 8 years, says:
"There is a common rule in the country: money and savings are stored in gold under a pillow. Nobody saves money in Turkish liras."
Based on their personal experience, people choose the only right direction — investing money in gold. This precious metal has a lot of advantages in comparison to both dollar and euro or another paper currency.
In the photo: A stall of gold jewelry at the Turkish market.
ADVANTAGES OF GOLD
- It never depreciates
- Accepted for exchange everywhere
- Lasts forever
- A high liquidity
Turkish citizens make the right choice, but there are three key points that need to be considered in order to keep the accumulation of gold with a minimum level of losses and risks.
1. What kind of gold to buy?
People usually buy jewelry gold. Then they sell it like a metal, losing 20 to 40% of the true value. It is more profitable to buy gold bars straightaway.
2. Who to buy gold from?
Jewelry has a different percentage of gold content. Investment gold bars are pure gold (fineness of 999.) Buying gold of the guaranteed quality and from the reliable manufacturer — is the better end of the deal.
3. Where to store gold?
If you store the precious yellow metal "under the pillow", then you risk losing it. With the rise in the unemployment rate, the number of disadvantaged people increases, and the level of crime goes up as well. Gold can be stolen. Experts recommend to store gold savings in specially equipped depositories and storages.
In the photo: Investment gold bars of Global InterGold.
Gold stands on guard of financial security.
There’s an ongoing fight for gold in the world, and this is not the Olympic Games. For the sake of the precious yellow metal, people go down in the mines, climb mountains and sink to the bottom of the ocean. States are increasing their gold reserves.
Gold is the foundation of financial security. And this is its major quality.
Strengthen your financial security right now!
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