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Welcome to hate jews /news/
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Turkish lira plummets to new low after central bank slashes rates Reader 12/16/2021 (Thu) 04:16:03 Id: e91528 [Preview] No. 17974
>Turkey’s lira crashed to a record low of 13.44 to the dollar on Tuesday, a level once unfathomable and well past what was just last week deemed the “psychological” barrier of 11 to the dollar.

>“Insane where the lira is, but it’s a reflection of the insane monetary policy settings Turkey is currently operating under,” Tim Ash, senior emerging markets strategist at Bluebay Asset Management, said in a note in response to the news.

>The lira was trading at 12.7272 to the greenback at 4 p.m. local time on Tuesday, and was down around 15% on the day at one point, according to Reuters.

>The sell-off was triggered after Turkish President Recep Tayyip Erdogan defended his central bank’s continued contentious interest rate cuts amid rising double-digit inflation. He labeled the move as part of an “economic war of independence,” rejecting calls from investors and analysts to change course.

>Inflation in Turkey is now near 20%, meaning basic goods for Turks — a population of roughly 85 million — have soared in price and their local currency salaries are severely devalued.


Reader 12/16/2021 (Thu) 04:17:25 Id: e91528 [Preview] No.17975 del
>>17974
>For perspective, at this time in 2019, the lira was trading at roughly 5.6 to the dollar. And that was already making news, as it was a dramatic drop in value from the mid-2017 level of 3.5 to the dollar.

>Turkey’s currency has been in a downward slide since early 2018, thanks to a combination of geopolitical tensions with the West, current account deficits, shrinking currency reserves, and mounting debt — but most importantly, a refusal to raise interest rates to cool inflation.

>Erdogan has long described interest rates as “the enemy,” rejecting economic orthodoxy to insist that raising rates actually worsens inflation, rather than the other way around.

>Investors fear the lack of independence of Turkey’s central bank, whose monetary policies are seen as being largely controlled by Erdogan. He has fired three central bank chiefs in roughly two years over policy differences.


Reader 12/16/2021 (Thu) 04:18:30 Id: e91528 [Preview] No.17976 del
>>17975
Semih Tumen, a former central bank deputy governor who Erdogan dismissed in October, sharply criticized the president’s moves.

“We need to abandon this irrational experiment, which has no chance of success, and return to quality policies that will protect the value of the Turkish lira and protect the welfare of the Turkish people,” Tumen wrote on Twitter, according to a translation.

The latest sharp downturn began last Thursday when the central bank cut rates by 100 basis points to 15%. It’s cut rates by 400 basis points since September alone.

According to ratings agency Fitch, in August 57% of Turkey’s central government debt was foreign currency linked or denominated, meaning paying that debt becomes more painful as the lira continues to drop in value.


Reader 12/16/2021 (Thu) 04:19:28 Id: e91528 [Preview] No.17977 del
>>17976
“The move is consistent with President Tayyip Erdogan’s view, but his monetary policy is simply wrong and now we are running the risk of entering a territory where the real economy will get seriously hurt by the currency.”

The central bank cut rates to 18% last month, despite inflation reaching nearly 20% in Turkey. The cut was seen as an extension of Erdogan’s opposition to high rates, which has seen him replace three central bank governors in the past two years.

Data from the Institute of International Finance showed that foreign investors have been consistently pulling out of Turkey since the rate cut last month.

Turkish stocks dipped 0.2%, as data showed consumer confidence in October touched its lowest level since February 2009.


Reader 12/16/2021 (Thu) 04:22:46 Id: e91528 [Preview] No.17978 del
>>17977

>Inflation in Turkey is now near 20%, meaning basic goods for Turks — a population of roughly 85 million — have soared in price and their local currency salaries are severely devalued.


>“Insane where the lira is, but it’s a reflection of the insane monetary policy settings Turkey is currently operating under,” one analyst said.


Reader 12/16/2021 (Thu) 05:31:56 Id: 983037 [Preview] No.17981 del
Turkey. One of the four and Gog of Magog. You know what happens, right? History has proven when a nation's currency fails, more militant nationalist parties rise to replace failing leaders. I hope I get to live through the destruction of modern Israel on international television with weeping media shills.


Reader 12/19/2021 (Sun) 02:21:48 Id: f4bcf1 [Preview] No.17983 del
>>17974

>The sell-off was triggered after Turkish President Recep Tayyip Erdogan defended his central bank’s continued contentious interest rate cuts amid rising double-digit inflation.

I don't see how raising interest rates will help them control inflation since the cause seems to be them printing money like mad to pay for debts. It is a good look into the future for all the countries printing to pay for covid shit.

Buy gold is the take away I guess?


Reader 12/21/2021 (Tue) 00:57:40 Id: 6c26f3 [Preview] No.17985 del
>to cool inflation.
I guess stopping the money printing machines is out of the question?
Don't know if they finished that big airport north of Istanbul but I bet it wasn't cheap.
>>17981
It would be funny to see the former Otoman Empire nations to gang up against the jews.


Reader 12/21/2021 (Tue) 06:10:30 Id: 09f824 [Preview] No.17989 del
>>17983
>I don't see how raising interest rates will help them control inflation since the cause seems to be them printing money like mad to pay for debts.

I don't think Erdogan has a long term strategy at this point.

>Buy gold is the take away I guess?

Everyone's buying Turkish instead. People from Southern Europe and the Balkans are flooding Turkey right now to buy everything up since it's so cheap


Reader 12/21/2021 (Tue) 06:11:37 Id: 09f824 [Preview] No.17990 del
>>17981
>more militant nationalist parties rise to replace failing leaders.

I don't know. Turkey has a slew of problems.

They already attempted a coup a few years ago. It got squashed by Erdogan. That was pretty crazy


Reader 12/21/2021 (Tue) 06:13:13 Id: 09f824 [Preview] No.17991 del
>>17985
>Don't know if they finished that big airport north of Istanbul but I bet it wasn't cheap.

Those type of projects are good for the economy no? It employs a lot of people at least

>It would be funny to see the former Otoman Empire nations to gang up against the jews.

Most Muslims countries have their set of problems. Time will tell I suppose.


Reader 12/21/2021 (Tue) 06:14:10 Id: 09f824 [Preview] No.17992 del
>>17974
Also, the Turkish Lira dropped even more in value today. I wonder how low it will keep going? Reminds me of Russia with their unstable Rubles.


Reader 12/22/2021 (Wed) 08:25:58 Id: f168b3 [Preview] No.17995 del
I remember seeing something about Bulgarians crossing the border to buy a bunch of food and shit.


Reader 12/23/2021 (Thu) 00:18:09 Id: aa8e23 [Preview] No.17996 del
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>>17995
Yeah they're doing that.

Here's a historical graph of Turkish Lira over 3 months.


Also, not sure if I'm getting this translated well, but Turkey just passed a new law that states that Turks can't talk badly about the Lira anymore. Or else they'll get fined.

This is so crazy lolololol


Reader 12/26/2021 (Sun) 01:54:25 Id: ef600c [Preview] No.18001 del
>Turkey buys weapons from Russia
>currency collapses

Just a coincidence I’m sure


Reader 12/26/2021 (Sun) 06:50:04 Id: 8654db [Preview] No.18002 del
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>>18001
That's not how national currency or inflation works.


sage sage 12/29/2021 (Wed) 18:24:24 Id: a21c91 [Preview] No.18004 del
>18001
low tier troll post
-1/10



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