Economist Muratoğlu agrees with Central Bank Governor's 'under-the-mattress' remarks: 'Because they don't trust you'

Economist Muratoğlu stated that he agrees with Central Bank Governor Fatih Karahan's remarks that "one of the biggest reasons for the poor state of the Turkish economy is the gold kept under the mattress," and explained why citizens do not deposit their money in banks. Muratoğlu made his assessments regarding the economic agenda on TELE1's Forum Hafta Sonu.

Muratoğlu said he agrees with Central Bank Governor Fatih Karahan's 'under-the-mattress' remarks.

Murat Muratoğlu spoke as follows:

"Fatih Karahan said, 'One of the biggest reasons for the poor state of the Turkish economy,' he said, 'is the gold under the mattress.' Financially, he is so right that I am putting my big signature right under it. Why?

Look, if the gram price goes up to 5,200 liras. It's not about the 5,200 liras, brother. It's approximately under the mattress. Look, it's not known exactly because it's under the mattress. Half of these are bracelets, earrings, this and that. Half is truly gold. There isn't just gold under the mattress.

There is Turkish currency, dollars, euros, silver, whatever you can think of under the mattress. So why are these under the mattress instead of in the banking system where they could earn interest? Because they don't trust the state.

If they do this to Fatih Altaylı two days later, they will seize my assets two days later. We don't even know if Turgay Ciner is guilty two days later. Because there is no evidence. The case hasn't been heard. They seize a man's billion-dollar company, and my Turgay-supporters can't do anything about it. Would they not seize my 500 liras worth of gold in the bank? They would seize it and say, 'I'm not giving it back.'

What am I going to do as a citizen? I'll say 'to hell with this' and put it under the mattress. This is a trust issue, and as long as this trust issue exists, nothing will come of the Turkish economy, just as the Central Bank Governor said. Because as money exists, it becomes something. The people pull it under the mattress. Because they don't trust you. Who are you? You are the state. That is, you are the institution that should be trusted."