Turkey is not unique in
Turkey is not unique in that hyperinflation is the common result of using fiat currencies. Turkey's central bank is struggling To convince the public that the currency is undervalued following a 27% collapse in value. We covered previously the desperate lengths people will go to to escape the Lira including taking out a new mortgage just to buy gold as the reports keep rolling in of Turkish citizens redeeming their savings to avoid the rapid deterioration of purchasing power. This is the critical weakness with using money that is backed by nothing, it requires faith and once the people's faith in a fiat currency fails there's little left that can be done to reverse course. The more people rush out of the currency into gold or other inflation protected assets the lower the currency falls and it becomes a self reinforcing system. The main objective on everyone's mind is how do I stem the losses now which has been the driver behind the climb to record high gold prices in the Turkish Lira.
Maybe if Turkey had not spent the last 9 years at war with Syria, they could have avoided this mayhem. It costs money to war. Investing in technology to uplift the economy instead of war (like U. S.) is a more sensible solution.
The curse of ottoman empire has begun ?
These things happen ?.
Despite the economic crisis and the rate of unemployment now is the best time to invest
Whatever government agency or group of Elites NEED TO STOP MANIPULATING the price of US silver & gold!
Further weakening of the
Further weakening of the currency could hinder Turkey’s efforts to generate foreign capital and strain the ability to repay debt. Insights via @CME Group: https://openmarkets.cmegroup.com/quicktake?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_evergreen&utm_content=more_insights
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Again this SOB Erdogan???
Aug.06 -- Turkey’s
Aug.06 -- Turkey’s lira tumbled to its lowest level against the dollar as interventions by state banks failed to keep a lid on the currency’s depreciation. Piotr Matys, a strategist at Rabobank in London, says Turkey is close to facing a currency crisis. He appears on "Bloomberg Surveillance."
Berat redflag faking turkish economy
Turkey is the next Syria of this world. I am very happy to see that Turkish people are returning to their medieval way of life.
beter olalım inşallah
Well done Erdogan !!!
do not give up !!! ???
Turkey is turning quick a sh*thole country. But they can only blame themselves for support this lunatic called Erdogan