Military Coup in Turkey Announced - Gainesville Coins News
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Military Coup in Turkey Announced

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Military Coup in Turkey Announced

The world news were rocked on Friday afternoon when reports came flooding in that a group within the Turkish military had declared it was staging a coup and taking control of the country.

The attempt at a coup d'etat by the Turkish military is in response to the increasingly unpopular and unilateral rule of President Recep Tayyip Erdogan. Although he has only been in power since 2014, Erdogan has angered many of Turkey's allies by undermining the country's historical commitment to secularism by pushing increasingly theocratic, nativist policies.

Gateway to the Middle East

Turkey is one of the United States' (and the West's, for that matter) foremost allies in the tumultuous region of the Middle East. Across the Bosporus Strait, it straddles both Europe and Asia, creating a strategic land link between the West and the Middle East that has been important since antiquity.

Many Europeans have worried about refugees and terrorists flowing into their continent if Erdogan's increasingly volatile rule were to continue. Nonetheless, the news that the military has taken matters into its own hands is rather shocking. Reports are that the citizens of the country are even surprised by the news.

It would seem that the writing is on the wall for the unstable Turkish regime: President Erdogan was "Facetiming" or Skypeing with news outlets from his phone from what appeared to be a hotel bathroom. That's usually not a very good sign that your reign will continue.

Turkish History

It's very interesting that the modern Turkish state, although certainly a predominantly Muslim country, was founded on a commitment to secularism and plurality.

https://twitter.com/rcolvile/status/754056074999857152

The tweet above refers to Mustafa Ataturk, the "founding father" of the state of Turkey in the 1920s following the fall of the Ottoman Empire. It's telling that his grave site is emblazoned with a call for the military to protect against the country falling into Islamic rule. That seems to be the current situation.

Turkish gold coin featuring image of Mustafa Ataturk Turkish gold coin featuring image of Mustafa Ataturk

Ataturk appears on many of Turkey's coins throughout the 20th century, including its modern 22-karat gold bullion coins known as Meskuks and Ziynets.

These gold bullion coins actually make Turkey the world's leader in annual gold coin mintages, though the general public is scarcely aware of this fact because so many of these Turkish gold coins are bought domestically.

 

The opinions and forecasts herein are provided solely for informational purposes, and should not be used or construed as an offer, solicitation, or recommendation to buy or sell any product.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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