Currency Crisis in Turkey: Erdogan Calls on Citizens to Sell Dollars and Buy Lira Amidst Collapse in Currency
Aug 10, 2018
This has become a big deal, seemingly overnight. Let’s not over analyze it or delve into hyperbole and simply observe facts. The Turkish Lira is cratering and crashing in Wagnerian Opera fashion, off by 13% for the day on news that Erdogan is telling citizens to sell dollars and take the gold from under their mattresses and buy Lira. The fuck.
“Change the euros, the dollars and the gold that you are keeping beneath your pillows into lira at our banks. This is a domestic and national struggle,” Erdogan said, according to an Associated Press translation.
Read more at https://ibankcoin.com/flyblog/2018/08/10
Trump takes aim at Turkey, announcing doubling of steel and aluminum tariffs in effort to punish country
Turkish President Recep Tayyip Erdogan warned Friday against those who try to “bully” his country, as an announcement by President Trump imposing new tariffs on Turkey sent its currency into free fall.
“The language of threats and blackmail cannot be used against this nation,” Erdogan said in apparent response to Trump’s early-morning tweet saying he was doubling existing U.S. import levies on Turkish steel and aluminum. “Those who assume they can bring us to our knees through economic manipulations don’t know our nation at all,” he said, without directly mentioning Trump or the tariffs.
Read more atwww.washingtonpost.com/business/economy
Trump doubles steel & aluminum tariffs on Turkey
10 Aug, 2018
US President Donald Trump is doubling tariffs imposed on Turkish steel and aluminum, insisting that the relationship between the two countries is ‘not good.’
Washington and Ankara are at odds over the detention of US evangelical pastor Andrew Brunson on terrorism charges in Turkey. He is facing up to 35 years in prison if found guilty of supporting the unsuccessful coup to overthrow President Recep Tayyip Erdogan in 2016.
Read more at https://www.rt.com/business/435624-trump-doubles-steel-aluminium-tariffs-turkey/
China will buy Turkey on the cheap
With help from Beijing, Erdogan is hoping to find an alternative to IMF loans, one that could turn Turkey into ‘an economic satrapy of China’
August 10, 2018
Like the fall of the Ottoman Empire after World War I, Turkey’s present financial collapse has been expected for years. The sloth of credit rating agencies and the laziness of bank credit committees allowed Turkey to struggle on a year or two longer than it should have, but the collapse of the Turkish lira this week after a long, sickening decline surprised no-one.
Turkey’s volatile president Recep Tayyip Erdogan might have put off the crisis, but instead decided to butt heads with US President Trump over the arrest of an American Protestant minister for alleged terrorism
Read more at http://www.atimes.com/article/china-will-buy-turkey-on-the-cheap/
A Coup Foretold (Turkey and the Neocons)
By Dimitris Konstantakopoulos
Some hours before the Brussels terror attacks, on the other side of the Atlantic, a rather astonishing article was posted on the website of the ultra-hawkish and pro-Israeli American Enterprise Institute. It was written by a known neocon activist with strong ties (at least in the past, but probably also now) with Turkish Kemalists, Michael Rubin. Τhe article was entitled “Could there be a coup in Turkey?” In it, Turkish military are all but strongly advised to overthrow President Erdogan. The author assures them that they have nothing to fear from USA, NATO or Europe if they do it. He is also “describing”, for Erdogan and his closest advisors, a fate not so different than the fate of the overthrown Egyptian President Morsi.
Read more at http://www.defenddemocracy.press/turkey-military-coup-possible/