Turkish Government "Goes For Gold"; Seeks To "Transfer" Private Gold Holdings Into Bank System

Zero Hedge (WSJ originally) ^ | 3-22-12 | Tyler Durden

[dynachrome]

Government officials say the banking regulator will soon publish a plan to boost incentives for consumers to park their household wealth inside the financial system. Banking executives said they are considering new interest-yielding gold-deposit accounts that would allow savers to withdraw gold bars from specially designed automated teller machines.

The moves come after the central bank in November announced that lenders could hold up to 10% of their local-currency reserves in gold, in part to tempt Turkey's gold hoarders to deposit their jewelry, coins or bullion at banks.

[dynachrome]

Be good little sheep and put your gold stash in the banks! (original article from Wall Street Journal is a subscribe only, Zero Hedge puts more of it in his take on this)

[Yo-Yo]

Banking executives said they are considering new interest-yielding gold-deposit accounts that would allow savers to withdraw gold bars from specially designed automated teller machines.

That turn into "roach motels"^* any time the government chooses.

^*(Gold checks in, but it doesn't check out...)

[muir_redwoods]

Sure, let us hold your gold for you. We’ll take extra special care of it and you can even visit if you like.

[Lurker]

that would allow savers to withdraw gold bars from specially designed automated teller machines.

Sure they will......

[STD]

Welcome to Golden California,
you can checkout anytime you like,
but your gold can never leave!