The dollar is fiat money as is bitcoin. We need the gold standard.
aug 17 2018 The United States’ stated reason for this economic warfare is because Turkey is holding a US pastor captive. But as I have been detailing for over a year, the souring relationship between these two countries is far more complicated.
The real reason behind the dispute is Turkey’s move toward the Eastern powers (Russia and China) over the past few years. Turkey has recently finalized a deal to buy Russian weapons, instead of buying weapons from NATO countries.
Perhaps the most hostile act toward the Western alliance, however, is Turkey’s assistance in destroying the US dollar hegemony (Petrodollar). Turkey’s president, Erdogan, has gone on a gold-buying spree in recent years and is now suggesting that international loans should be made in gold instead of US dollars. Here are his exact words:
“I made a suggestion at a G20 meeting. I asked, ‘Why do we make all loans in dollars? Let’s use another currency.’ I suggest that the loans should be made based on gold… With the dollar, the world is always under exchange rate pressure. We should save states and nations from this exchange rate pressure. Gold has never been a tool of oppression throughout history.”