Turkey Liquidated Almost All Of Its US Treasuries In March To Defend Crashing Lira

Turkey Liquidated Almost All Of Its US Treasuries In March To Defend Crashing Lira Two months ago, at the end of March, we reported that Turkey was aggressively dumping its gold reserves in a panic scramble to obtain dollar funding, which Erdogan's regime was using to keep the Turkish lira from crashing, and to also pay for energy imports which had suddenly soared in price as a result of the Iran war. The violent selling by Turkey (and other emerging markets) was behind the brutal plunge in gold prices, which tumbled...