Steve Saretsky

They sell their treasuries.

That gives them U.S.

dollars, which they then use to buy Turkish lira to support the Turkish lira.

So they're trying to slow the decline or depreciation in local currency.

What's been happening in blue sky and X is that people are saying, hey, Turkey is selling their treasuries.

It means the U.S.

is doomed.

Here's an example of a smart country and so forth.

That's not why they're selling their treasuries at all.

It's because they're desperate for US dollars to protect their local currency.

And if you really think they're selling treasuries because they think the US is doomed, they've also been selling their gold.

So if you think the U.S.

is doomed, okay, sell your treasuries and your dollars.

You can do that.

But you're not selling your gold at the same time.

So, again, Turkey is one of these.

Turkey is probably one of the most –

important and critical countries, pivotal countries in the geopolitical world, by the way, if you go a bit deeper into that world.

But here they are.

Again, they're selling their treasuries because they need U.S.