Turkey's president urges people to favor lira and gold to end 'tyranny of the dollar'


Turks Urged to Trust in Lira to Defeat 'Ttyranny of Dollar'

By Mehul Srivastava and Jonathan Wheatley
Financial Times, London
Wednesday, December 7, 2016

Emerging markets across the globe are already suffering because of an expected rise in US interest rates -- and few are feeling the pain more than Turkey. The country's currency has been plunging in the wake of the election of Donald Trump, who favors fiscal stimulus rather than ultra-low interest rates, and ahead of a Federal Reserve meeting next week that could raise benchmark rates for only the second time since the financial crisis.

In response, President Recep Tayyip Erdogan has called on citizens' patriotism to foil the effect on the lira. He has exhorted them to break what he describes as the "tyranny of the dollar," asking people to stock up on the lira and gold instead and so defeat the "economic sabotage" perpetrated by the country's enemies.

Some businessmen have already responded to the leader's call by offering free bus rides or haircuts to those who have sold dollars. Turkish officials add that capital controls have been discussed -- but up to now rejected -- as a means of arresting the slide of the lira, down more than 10 percent against the dollar since Mr. Trump's election. ...

... For the remainder of the report:



Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:


Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:


To contribute to GATA, please visit: