Turkey joins Venezuela, Germany, the Netherlands, Austria and Belgium in an increasing effort to repatriate all of its gold currently housed in the US Federal Reserve. This article argues that this is in response to the US’s aggressive economic behavior:
The quest to reduce dependence on the dollar was provoked by the ongoing use of sanctions as a political weapon, a kind of foreign-policy tool of choice. Even America’s closest allies are threatened by these restrictive measures. The recent attack on the Nord Stream 2 gas project is a good example. It’s only natural for other countries to be looking for ways to resist the US policy of twisting arms. Using alternative currencies and bringing gold home are ways to do that.
Unfortunately, Libya was punished brutally for bucking this system (no pun intended):
America has always opposed such efforts. Any methods would do. Muammar Gaddafi, the Libyan leader, was toppled and killed after he came up with the idea to introduce a golden dinar to be used as an international currency in the Middle East and Africa. Iran has recently banned the use of the USD in trade. It refuses to sell its oil for the US currency. President Trump is likely to kill the Iran deal in May, provoking Tehran into reviving its nuclear program.
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