Turkish prime minister says gold should replace dollar

Section:

By Zubeyde Yalcın
Sabah, Istanbul
(A morning newspaper)
Sunday, November 11, 2012

http://english.sabah.com.tr/economy/2012/11/10/erdogan-suggests-shift-fr...

During his stay in Indonesia, Prime Minister Recep Tayyip Erdogan brought up an interesting suggestion for the International Monetary Fund.

Stating that although IMF assistance may appear to be a prescription for some nations, in fact it is quite the opposite, as the fund has often caused serious problems for countries in trouble. So Erdogan asks why it is that the fund uses dollars instead of gold.

Saying that he doesn't feel it is right for the IMF to act according to one nation's currency, Erdogan states, "The IMF extends aid on a 'who, where, how, and on what conditions' basis. For example, if the IMF is under the influence of any single currency, then they are going to rule the world based on the exchange rates of that particular currency.

... Dispatch continues below ...


ADVERTISEMENT

Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet
at Wellgreen Project in Yukon Territory: 5.36 g/t

Company Press Release
Tuesday, September 11, 2012

VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel.

The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace.

Prophecy Chairman John Lee commented: “Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly.”

Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs.

For the complete company statement with full tabulation of the drilling results, please visit:

http://prophecyplat.com/news_2012_sep11_prophecy_platinum_drill_results....



"Why do we not switch then to a monetary unit such as gold, which is at the very least an international constant and indicator that has maintained its honor throughout history? This is something to think about."

Explaining that Turkey had to pay a heavy price for the agreement it made with the IMF, Erdogan stated, "We have not made a standby agreement for the past three periods. In April we will have zeroed out our debt completely and we have no intentions of working with the IMF again."

Prime Minister Erdogan went on to state: "One would hope that the IMF would help countries in trouble. But at present this is not the case. This is what we need to achieve."

Erdogan also said he believed that the United Nations, the International Monetary Fund, the Organization for Security and Co-operation in Europe, and the Organization for Co-operation and Development all need to undergo reform.

* * *

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 20 and 21, 2013
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
http://www.cambridgehouse.com/event/vancouver-resource-investment-confer...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16



ADVERTISEMENT

GoldMoney adds Toronto vaulting option


In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada.

GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold.

Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order.

GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults.

It's easy to open an account, add funds, and liquidate your investment. For more information, visit:

http://www.goldmoney.com/?gmrefcode=gata