This is the 6th straight substantial rate hike by Turkey. The main interest rate was only 8.5% in May. But it’s been raised by 31.5% in 6 months.
Central Banks
Need I say more ?
That’s what you get for voting Erdogan back in.
US borrowing interest rate is only ~8%. I have this bright idea. I’ll mortgage my house and borrow 1 million, convert all of it to Turkey, put it in a savings account there at 40% for 1 year.
After 1 year I can get back 1400k (400k interest), then pay back 1080k. The remaining 320k $ is free money. Gonna go to the bank tomorrow.
Another country that spends more money on weapons that it does fixing the economy.
Wait, I don’t understand. Isn’t the whole concept of ‘Islamic economics’ not to charge any interest rates?
At least he got them s-400s that can’t shoot down a HIMARS.
Rest of NATO: Wow these f-35 are amazing America, thank you.
Oh you silly Keynesians you.
And just in time for Thanksgiving!
When you don’t employ economists to run economies.
Usury never been this high. How infidel and Western.
So if I invest there will I make massive returns?
Turkey is the next Argentina 🤷♂️
Wanna buy a home in Turkey? Just 40% interest on your mortgage. What a deal you guys.
21 comments
This is the 6th straight substantial rate hike by Turkey. The main interest rate was only 8.5% in May. But it’s been raised by 31.5% in 6 months.
Central Banks
Need I say more ?
That’s what you get for voting Erdogan back in.
US borrowing interest rate is only ~8%. I have this bright idea. I’ll mortgage my house and borrow 1 million, convert all of it to Turkey, put it in a savings account there at 40% for 1 year.
After 1 year I can get back 1400k (400k interest), then pay back 1080k. The remaining 320k $ is free money. Gonna go to the bank tomorrow.
Another country that spends more money on weapons that it does fixing the economy.
Wait, I don’t understand. Isn’t the whole concept of ‘Islamic economics’ not to charge any interest rates?
At least he got them s-400s that can’t shoot down a HIMARS.
Rest of NATO: Wow these f-35 are amazing America, thank you.
Oh you silly Keynesians you.
And just in time for Thanksgiving!
When you don’t employ economists to run economies.
Usury never been this high. How infidel and Western.
So if I invest there will I make massive returns?
Turkey is the next Argentina 🤷♂️
Wanna buy a home in Turkey? Just 40% interest on your mortgage. What a deal you guys.
And they’ve only got themselves to blame.
[deleted]
Say what?
Turkey isnt the name of their country
8% seems nice
Can I put money in a bank there?
How do you pay your bond ?