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Erdogan: Let's turn the money into gold

: 2016-11-24

Erdogan: Let's turn the money into gold
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Summary: Erdogan: I am a person with a negative attitude towards the interest in banks, and we have to promote gold stock exchange under the financial crisis from which the whole world is crying out due to the heavy weight of the debts and interests; gold is better for building a financial system that takes endeavor and sweat as its foundation, not a system that makes money from money, as the controllers of dollar do.

The Turkish president, Recep Tayyip Erdogan, on Wednesday, called to promote his country's gold stocks in the financial dealings during his participation in the ceremony, placed in Istanbul, for signing the memorandum of understanding for strategic cooperation between the Istanbul Stock Exchange and the Islamic Development Bank.

Erdogan also stressed that, "finance market is one of the most important ways to increase investment in Turkey and it is essential to transform Istanbul into a center for money which is important for Turkey and for all its friends, too."

The Turkish President pointed to the need for a joint action to promote Islamic finance, which is substitute to replace the conventional financial system prevailing in the world now.

Adding that: "While the world is burdened with debts and interests, we, in Turkey, seek to implement our projects on the one hand, and continue to take measures on the other hand. For that, I recommend the joint cooperation between the countries and institutions that look at this subject from this perspective."

Erdogan, moreover, assured on "the importance of not keeping Turkey under the pressure of the dollar in the global currency transactions."

Mr. President added: "Those who control the dollars earn huge profits without making any efforts, and today I say: Let us take a new step, namely, the promotion of the gold stock exchange, and let us develop our relations through the gold which is more suitable and appropriate in this regard."

He also indicated that "the banking system based on the interest is in a big trouble, and the balances that have deteriorated because of the global financial crisis in 2008 did not return to the basic set yet, and there are no indications of returning in the present time."

The Turkish President concluded saying "I am a person with a negative attitude towards interests and let me tell you, I was not surprised by this crisis. We have to head towards a financial system that takes efforts, sweat, and trade a basis for it, not a system that make money from money."

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