Why Turkey Jumped from 20th to #7
In terms of the data overall, among 163 countries Turkey was ranked seventh-best for expats, after Switzerland, Singapore, Canada, Spain, New Zealand, and Australia.
The European Union wouldn’t let Turkey in ‘elhamdulillah’ meaning we ruled out Euro Greek Cyprus for the cheap seats in Turkish Lira Antalya. Until 2018 a dollar would buy 7/8ths of a Euro or 3.67 Liras,
Europeans are flocking to Turkey not just for the cheapest tomatoes in the Eastern Mediterranean.
The Gold Denominator
Turkey’s 2018 44% currency devaluation has brought investors from Europe, Russia and Mideast to own more than half of the real estate in Antalya. However, the coming financial Apocalypse has encouraged the locals as well as resident expats to open gold bank accounts.
The country’s commercial banks are pouring their technical expertise and marketing resources into offering their customers gold deposit accounts. Customers hand their gold to a bank and can make withdrawals from their accounts in gold bars or the lira currency; the accounts offer interest rates that are substantially lower than those on normal time deposits.
Gold deposit accounts have been growing around the world, but Turkey’s boom has made it a leader in the trend.
Global Currency Debasement
The Expat Conundrum
We have no problem with Centigrade or Fahrenheit as a measure of the temperature. Real money is calculated in the price of gold in ounces or grams.