It is all because of that horrible intrest guy that goat lover keeps talking about!
When will Erdogan realize his macroeconomics views are retarded and actually let competent people do their job in peace.
Hungarian Forint be like: *amateurs*
Turkey on the road of bankruptcy. It’s a mess.
That didn’t take long. I guess people didn’t believe Erdoğan and Nebati, and did not sell their personal foreign currencies for liras. Rather than that, last week’s lira heights were probably caused by institutional selling of foreign currency reserves amounting to 6-8 billion USD. And now, for the final act, Erdoğan’s government has to stand behind their promises and somehow finance their non-rate hike but rate hike-like isomorph with money neither they nor the Turks have. Good job.
it goes up there on the right, doesn’t it ?
Buy the Dip?
I heard that the “recovery” of the lira after the introduction of the personal savings protection was secretly aided by the Turkish gov buying lira with the last of their foreign reserves.
They should be out of firepower now. Shit’s fucked.
Sort of expected when the retard tries to wrestle the economy to follow Quran.
Sultan ran out of inshallah juice?
This looks like an uptick for today?
They run out of funds trying to prop it up. Economics do not care about religion…
Ok, so wat currency will lira be tied? EUR or Dollaroos? Cause they can’t do this for very long but have to de facto change their currency to something more stable. Hyperinflation is coming next.. Although, my bet is that Erdogan will not do it and there will be civil unrest when a loaf of bread costs 34 billion..
Do you actually hold any real money in Liras these days? As far as I know, foreign exchange and services like revolut and cryptocurrency exchanges are available in Turkey unlike in some other countries with shit economies. Isn’t it relatively easy to instantly convert any money you have into dollars/euro?
Not stonks
This is going to hit with twice the force now that he has said that the Turkish government will back any private losses that anyone has due to their savings lossing value.
And I hard their foreign currency reserve is in the negative so a big yikes moment is on its way.
Time to fire on the money printer, that should fix the problem… right!??
But why is this happening? Are there some sanctions imposed on Turkey?
Is it safe to go on vacation in turkey atm ? Feel like it could be very good with only a few thousand euro.
27 comments
How could Angela Merkel do this to Turkey
It is all because of that horrible intrest guy that goat lover keeps talking about!
When will Erdogan realize his macroeconomics views are retarded and actually let competent people do their job in peace.
Hungarian Forint be like: *amateurs*
Turkey on the road of bankruptcy. It’s a mess.
That didn’t take long. I guess people didn’t believe Erdoğan and Nebati, and did not sell their personal foreign currencies for liras. Rather than that, last week’s lira heights were probably caused by institutional selling of foreign currency reserves amounting to 6-8 billion USD. And now, for the final act, Erdoğan’s government has to stand behind their promises and somehow finance their non-rate hike but rate hike-like isomorph with money neither they nor the Turks have. Good job.
it goes up there on the right, doesn’t it ?
Buy the Dip?
I heard that the “recovery” of the lira after the introduction of the personal savings protection was secretly aided by the Turkish gov buying lira with the last of their foreign reserves.
They should be out of firepower now. Shit’s fucked.
Sort of expected when the retard tries to wrestle the economy to follow Quran.
Sultan ran out of inshallah juice?
This looks like an uptick for today?
They run out of funds trying to prop it up. Economics do not care about religion…
Ok, so wat currency will lira be tied? EUR or Dollaroos? Cause they can’t do this for very long but have to de facto change their currency to something more stable. Hyperinflation is coming next.. Although, my bet is that Erdogan will not do it and there will be civil unrest when a loaf of bread costs 34 billion..
He will somehow blame it on [the west](https://en.wikipedia.org/wiki/S%C3%A8vres_Syndrome) and their evil plan to weaken Turkey.
So what did he do exactly that week ago or so?
dropping? the line goes up!
Question for the Turkish users.
Do you actually hold any real money in Liras these days? As far as I know, foreign exchange and services like revolut and cryptocurrency exchanges are available in Turkey unlike in some other countries with shit economies. Isn’t it relatively easy to instantly convert any money you have into dollars/euro?
Not stonks
This is going to hit with twice the force now that he has said that the Turkish government will back any private losses that anyone has due to their savings lossing value.
And I hard their foreign currency reserve is in the negative so a big yikes moment is on its way.
Time to fire on the money printer, that should fix the problem… right!??
But why is this happening? Are there some sanctions imposed on Turkey?
Is it safe to go on vacation in turkey atm ? Feel like it could be very good with only a few thousand euro.
https://twitter.com/Istanbultelaviv/status/1476315607826157574
That’s the finance minister LMAO.
Turkey is not european.
I hope it keeps dropping. Its great getting cheap PS games from the Turkey store