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Turkey's Financial Crisis

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Re: Turkey's Financial Crisis

#31

Post by 1cvmask »

forvelin wrote: post #14
1cvmask wrote: post #5

I looked up the core values of Turkey. And their debt to gdp ratio is 40%. Neighboring Greece is 200%. The Turkish economy was the second fastest growing economy last year in the G20 and is on pace to be the one of the fastest growing economies this year. Turkey has had record exports and been one of the most successful in tourism both last year and this year helping the current account deficit. Yet bankrupt Greece c…

is this unexpected ? erdogan literally buys weapons from russia as a nato member, allies with putin at every occassion and disregards any civilized values. he'd like to squeeze minorities as he wants, oppress the opposition as he wants and ally with whoever he wants. at that point, people might not want to cooperate with you, a bit of diplomacy eh ?

The US has always put arms embargoes and blockades on Turkey, even having formal ones in the 1960s and 1970s. The US also arms the terrorists in Turkeys south to attack and terrorize the country. According to CIA agent John Stockwell and others they have been arming those terrorists since the 1970s on Kissingers orders to attack Turkey. The US also refused to sell defensive systems to Turkey under the Obama blockade. The Turks bought it then instead from the Russians. Other NATO countries also have both Russian weaponry and the S-class defensive system like Greece, Bulgaria and Hungary. Turkey is clearly not competent enough to build it itself which is why it bought it.

Re: Turkey's Financial Crisis

#32

Post by latchkey »

mertd wrote: post #21
baxtr wrote: post #6

Just a question: would it have been a good idea for a Turkish person, say, a year ago, to invest in stable coins to prevent suffering from Lira depreciation? PS: This is a sincere question… EDIT: some are asking why not real Euros or Dollars? I was thinking convenience and availability. I’m not sure if you could just easily get dollars in Turkey.

What extra advantages do they get from stable coins over simply walking to an exchange kiosk and buying Euro or USD?

In $100 bills, the weight of $1 million is about 22 pounds.

Re: Turkey's Financial Crisis

#33

Post by mghfreud »

1cvmask wrote: post #5

I looked up the core values of Turkey. And their debt to gdp ratio is 40%. Neighboring Greece is 200%. The Turkish economy was the second fastest growing economy last year in the G20 and is on pace to be the one of the fastest growing economies this year. Turkey has had record exports and been one of the most successful in tourism both last year and this year helping the current account deficit. Yet bankrupt Greece c…

Dept to gdp of Turkey is 40%, if you believe official numbers. But they are not publishing numbers for dollar denominated guarantees to PPPs.

This is only one of the many unpublished “dept”s.

The more the Turkish lira devaluates, the more the public has to pay for the PPPs. Hence, when considering for creditworthiness, you need to account for all, not a single number.

Re: Turkey's Financial Crisis

#34

Post by costac »

forvelin wrote: post #11
hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

It has nothing to do with religious beliefs, its all about gathering capital on his side. He is just abusing peoples' religious beliefs. Everybody knows the new savings scheme he introduced is essentially increasing interest rates. Contrary to popular belief, I do not think that Erdogan will continue to mold Turkey's future. So far Turkey always had 40-50% opposition which could not unit, but now they are all united…

> Everybody knows the new savings scheme he introduced is essentially increasing interest rates.

This is not true. Raising interest rates would mean raising the cost of funding for the banking system. Under the new saving scheme, since the Treasury pays depositors the extra yield, the cost for banks remains unchanged. As does the marginal cost of borrowing from the central bank.

The new saving scheme is a free dollar call sold by the country's Treasury to depositors. And it will pay it out by printing money.

Re: Turkey's Financial Crisis

#35

Post by csomar »

hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

Erdoğan is a Ottoman and not an Islamic leader. He is using Islam to reach his goals but he is not married to it. He'll move away from Islam as soon as it no longer serves his purposes.

Re: Turkey's Financial Crisis

#36

Post by wheelerof4te »

DSingularity wrote: post #9
hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

Throats were slit? I never read that. If you believe in democracy you would celebrate the failure of a coup. Even if you hate the surviving leader, you ought to prefer defeating him within the frameworks of democracy. You seem to really dislike Muslim culture. If the people of Turkey want their culture to closer to that of Syria instead of Germany, what’s the problem?

Westerners think that their culture is the greatest of all time, how could you not accept it? They are even exporting it together with their bombs and missiles in case you don't comply /s

But seriously, if their "culture" consists of gender theories, Holywood movies, superhero novels and the like, they can keep their culture.

Re: Turkey's Financial Crisis

#37

Post by justicezyx »

wheelerof4te wrote: post #30
hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

Syria was a prosperous and deeply secular country, with many cultural sites dating back to the ancient world. At least it was until imported wahabbi terrorists from you know where started to split the country up, turning parts of it into a Islamic State caliphate. Today, Syria is being plundered by the same countries that helped the terrorists sell the stolen oil. We all know which country smuggled truckloads worth o…

That country is Russian, right? Or Saudi Arabia?

I am not very familiar with Syria situation. Purely a honest question.

Re: Turkey's Financial Crisis

#38

Post by ardacinar »

DSingularity wrote: post #9
hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

Throats were slit? I never read that. If you believe in democracy you would celebrate the failure of a coup. Even if you hate the surviving leader, you ought to prefer defeating him within the frameworks of democracy. You seem to really dislike Muslim culture. If the people of Turkey want their culture to closer to that of Syria instead of Germany, what’s the problem?

I remember there was an instance of a soldier being beheaded on the Bosphorus bridge. Not sure about the plural though

Re: Turkey's Financial Crisis

#40

Post by justicezyx »

csomar wrote: post #35
hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

Erdoğan is a Ottoman and not an Islamic leader. He is using Islam to reach his goals but he is not married to it. He'll move away from Islam as soon as it no longer serves his purposes.

Even a fictional character, Paul Atriades, knows that religious zeal is a beast that cannot be contained. I am more inclined to believe that as a skilled politician erdogan should be well versed in history and politics to see that danger. And I believe that he indeed is a believer of Islamic religion.
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