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Apple stopped sales in Turkey after the lira crashed 15% in a day

reuters.com

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Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#141

Post by can16358p »

pas wrote: post #117
can16358p wrote: post #95

Earlier quoted context omitted.

> while locally produced goods and services should remain more or less unchanged. This is not true for Turkish Lira because EVERYTHING is dependent on foreign currencies at some point. For example local agricultural goods shouldn't be affected, but all the machines in production line are imported, all their servicing equipment are imported. If one simply goes unofficial (e.g. Finding someone to service their machines…

Sure, but the added value is local, which helps exports.

Yup, it helps with exports but it simply can't outweigh the losses from devaluation and foreign dependency.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#142

Post by tsimionescu »

AdrianB1 wrote: post #127
Keyframe wrote: post #96

Earlier quoted context omitted.

Same reason you cannot pay in euros in US. Lira is a legal tender. Company can peg prices internally to a spot rate to whatever, but if exchange turns to fast volatility, what else can you do?

There is no law preventing one to sell in Euro in US and there is no law mandating a seller to accept USD as payment. "Legal tender" does not mean what most people think.

A supermarket could refuse to sell you something unless you pay in Mario coins, but I beleive a restaurant is forced to accept your dollars to settle the bill you incurred for the food, and can't insist you pay your bill in Fallout Bottlecaps. Is this right?

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#143

Post by tsimionescu »

lostlogin wrote: post #85
bserge wrote: post #3

Why don't they just sell in Euro/USD? That's what people did a few decades ago a bit further north, when the local currency wasn't trusted (even if it was rather stable). But yeah, inflation in Eastern Europe is pretty bad, and if you voted for a bunch of dumb assholes who don't care about you or the nation, you're multifucked.

> pretty bad, and if you voted for a bunch of dumb assholes who don't care about you or the nation, you're multifucked. The vote tally and the resulting leader are not necessarily related in these places.

Where in Eastern Europe do you think elections were stolen by invalid vote counting?

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#144

Post by Keyframe »

haneefmubarak wrote: post #140
Keyframe wrote: post #135

Earlier quoted context omitted.

That's quite a fantasy there.

You have to ultimately pay taxes in USD and have to accept settlement for debts in USD, but otherwise you're free to accept anything else you'd like, really.

That's quite a difference than compared to most, if not all, european countries. There are certain exceptions for outside.of borders payments, but even then local and legal currency has to be accounted. Retail no way.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#145

Post by lotsofpulp »

aunty_helen wrote: post #138
simonh wrote: post #114

Earlier quoted context omitted.

Freezing, not stealing, because the chances those assets would be used for the actual benefit of Venezuelans is pretty much zero. They will be returned when Venezuela has a legitimate government.

Very rightous of the US. Getting to decide who does and doesn't get to self govern.

Opposing parties choose to come to the US for that very reason. They trust the US courts to uphold contracts more justly relative to other jurisdictions. The US’s trust is it’s most important asset.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#146

Post by azth »

Jensson wrote: post #133
samstave wrote: post #35

Earlier quoted context omitted.

what do you think btc's 'black swan' will be?

Next downturn when everyone wants to cash out all their investments at once so they can pay rent and such. BTC has yet to experience a downturn, I don't think it will be pretty.

The large investors will buy even more.

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#149

Post by mrighele »

pjc50 wrote: post #136
mrtksn wrote: post #40

Earlier quoted context omitted.

Actually, it was fairly stable between 2003-2013. Then the hardcore political stuff began happening, Erdogan won the political fight to become a popular autocrat assuming all power in 2017 by changing the constitution through a referandum then winning the elections - all fairly. When he got free from any checks and balances he was free to implement his unorthodox ideas on economics. He put his son in law in charge of…

The dinosaur statues made me go wtf as well: https://www.bbc.co.uk/news/blogs-news-from-elsewhere-3253591...

The parent was probably talking about not that single statue, but a whole theme park dedicated to dinosaurs, which costed 750M dollars, and opened only for a few months (1). But a bigger (albeit cheaper) wtf in my opinion is a village entirely made of castle-like houses (2)

(1) https://www.duvarenglish.com/domestic/2020/06/25/ankara-them... (2) https://www.insider.com/turkey-abandoned-disney-castles-vill...

Re: Apple stopped sales in Turkey after the lira crashed 15% in a day

#150

Post by mrtksn »

mrighele wrote: post #149
pjc50 wrote: post #136

Earlier quoted context omitted.

The dinosaur statues made me go wtf as well: https://www.bbc.co.uk/news/blogs-news-from-elsewhere-3253591...

The parent was probably talking about not that single statue, but a whole theme park dedicated to dinosaurs, which costed 750M dollars, and opened only for a few months (1). But a bigger (albeit cheaper) wtf in my opinion is a village entirely made of castle-like houses (2) (1) https://www.duvarenglish.com/domestic/2020/06/25/ankara-them... (2) https://www.insider.com/turkey-abandoned-disney-castles-vill...

To be fair, the hilarious castle-like houses village is a private investment :)
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