Dude, did you see the decision published in the Official Gazette yesterday? The Central Bank abolished the "under-the-mattress gold" practice it started in 2022. 🤔 Back then, people with gold at home could deposit it in banks and get Turkish Lira in return. Now that’s over! Authorities say it’s to "support liquidity in the market," but who do you think benefits from this? Are small investors winning, or is it just lining the pockets of banks? 💸 How do you guys see this decision? Drop your thoughts below!
TCMB's pillow gold decision got a bomb reaction! What do you think?
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You remember the previous FX corridor, right? We can compare the central bank’s move to the “sell your foreign currency” pressure back in 2021. Back then, the government seized private‑sector FX reserves for its own coffers; now they’re going to hand over our gold to the system again to create TL liquidity. In other words, it’s like your gold at home is no longer “under the pillow” but ends up in the banks’ vaults.
But bro, that’s not all! I think this decision benefits not just the banks but the state too. The citizens who used to cash in their gold are now being forced into the system. It’s just like the old “mandatory FX sales,” only the asset has changed. If you’re a small investor, unfortunately the money you get will be wiped out by inflation, while the banks’ gold stock both boosts liquidity and meets the government’s funding needs. Gold is the safest haven, but now it can’t even be hidden under your pillow anymore.