Tag Archives: money

How’s That Savings Account Doing?

My 60 year Boomer Bank account currently pays 0.15% APY on balances of $10,000 or more. Even if I switched to American Express at 1.7% I come up short.

The Individual Sovereignty Solution

The annual inflation rate for the United States is 2.1% for the 12 months ended November 2019, compared to 1.8% previously, according to U.S. Labor Department data published December 11, 2019.

The Doug Casey’s prophecy on the Phil Donahue Show 1980/1981

In 1980 Gold was $594.90 ; 1981 $400; the Dow Jones around 3,000; bank interest rate in 1970 7% after Nixon closed the Gold window August 1971 bank savings account interest rate jumped to 12% in 1980.

Doug Casey the ACE of Spades: The Card of AMBITION now 73 and living in Estancia de Cafayate in Salta ProvinceArgentina.[3 goes by the moniker “International Man” and continues to practice what he preached on the 1981 Phil Donahue Show. Here he talks about the financial path to Individual Sovereignty.

After four years of living here, I like Antalya, Turkey

The Turkey Gold Rush

ISTANBUL, July 4 (Reuters) – For centuries, Turks have flocked to the jewelry shops of Istanbul’s labyrinthine Grand Bazaar to trade their gold – ornaments handed down through their families over generations, or bars stashed under mattresses as savings. But in recent months the shops have a new and unexpected competitor: banks.

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,

Market in the upper town, Paphos, Cyprus Cyprus Tomato (1 lb) 0.84 € = $0.93 Antalya Tomato (1 lb) 2.00 TL = $0.34

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.

According to Jim Rickards, Turkey is the only country in the world to offer gold deposit accounts. Example: TRY- USD- GBP- EUR and XAU act like your standard bank account, only in multiple currencies, including Gold.

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.

The BIS (Bank for International Settlements) in October 2018 declared XAU Gold an accepted world currency. The BIS, the banks bank, financed both sides in WWII just to be fair.


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 chart is turned upside down because as the price of Gold goes up the purchasing power of the effective currency goes down. The AUD ‘Aussies’lost least while the Rupee and USD folks were the ‘bigly’ biggest losers.

The Expat Conundrum

The AGHOA in Dalaman, Turkey was established at 70 GBP/mth dues but the natives and YB’s (yabanci) residents pay in TRY lira. The brouhaha how to set the lira rate each fiscal year?

Currency Thermometer

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.

The Brits think in GBP, as Yanks we compare TRY purchases in terms of USD, the Turks check the exchange rate of the TRY versus the USD 1st and XAU 2nd.
The Gold temperature in Akkaya Gardens on 23 September was 473 TRY, 47 GBP, 60 USD, or 52 EUR.

The Dollar Milkshake Theory

Brent Johnson is a member of the Real Vision Finance guru cabal. Real Vision was started in 2014 by Raoul Pal (Argentinian). Grant Williams and Kyle Bass (all things China) are two other ‘don’t miss’ informants.

No sooner had I submitted this analysis than President Erdoğan of Turkey made the following remarks in response to a currency crisis in his country: “Those who keep dollar or euro currency under their mattresses should come and turn them into liras or gold.”  Jim Rickards 

First day back home I went to see my July 2nd HSBC Turkish banker. The last time I had a face to face conversation with an American banker was with Tommy Schilling at our weekly Follett Lions club luncheons, catered by Grandpa’s quick stop.

I have spent November and 3/4 ths of December telling everybody on two cruise ships, as well as friends & family in Houston, Monterey, Sonoma and Iowa City, that Turkey is the only country in the world with Gold bank accounts.

Ms July 2nd advised me that now was a good time to buy dollars with gold since $$ were going up against the Lira. Last year, her HSBC Istanbul HQ currency account transfer tip garnered $145 on the swap.

The Federal Reserve along with the other Central Banks have created a giant Fiat currency milk shake. The United States uses the straw to return the contents home in dollars.

You can play the FX market in Euros, Pounds, Dollars, Danish Krone, Gold or whatever fiat currency you want in your account. However, I used Toastmasters Speech 8: Get Comfortable with Visual Aids to share with Ms July 2nd “The Dollar MilkShake Theory.”