Turkey's former foreign minister, Yasar Yakis, admitted last week that Turkey never believed that the Americans had a fallback position.

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It is hard to know whether this ambition was in earnest at the time or simply the fallback position of a hyper-urbane young person with a mild case of disaffection.

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He has announced his fallback position.

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What's the fallback position?

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This position makes gold a fallback currency, not an investment.

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