The Turkish lira just hit a fresh all-time low, down over 99.995% from its peak.

Turkey has spent nearly $26 billion in gold and Treasury bills this year trying to defend itself. None of it worked.
Here's the part that actually matters. Turkey didn't start with gold; it started liquidating its most liquid asset first. Treasury holdings collapsed from $16.9 billion in January to $1.78 billion by March, an 89% drawdown in a single month, before the central bank ever touched gold reserves. Only after that ran out did it move to gold, selling and swapping over 100 tonnes since February.
When a country burns through its most liquid dollar asset, then its gold, and the currency still can't find a floor, that's not a liquidity problem anymore. That's the market saying it doesn't believe the defense.