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Because Turkey


Stargrunt6

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  • 2 months later...

So the Halkbank case ( money laundering for Iran) in the US is proceeding now that political winds seem to change. And the Sultans son in law / finance minister resigns for health reasons and deletes his Twitter account.  Yesterday head of central bank sacked out of the blue 10 months after the last one was sacked by the sultan for raising interest rates.

lira lost 40% this year vs usd and more vs euro.  

I think come Monday we will have a bit of commotion in the markets. I wonder if those 100 billion USD borrowed from commercial banks to support the lira will ever be seen by their owners and some Spanish and Italian banks with big stakes in local banks.

https://www.courthousenews.com/second-circuit-advances-criminal-case-against-halkbank/?amp=1

https://www.bloomberg.com/amp/news/articles/2020-11-08/turkey-s-finance-minister-albayrak-resigns-citing-health-issues?__twitter_impression=true

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  • 11 months later...
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Turkey to declare 10 ambassadors 'persona non grata'

30m ago

The move means 10 ambassadors — including those of Germany and the United States — are now just one step from expulsion after calling for the release of activist Osman Kavala.

Ambassadors from 10 countries who appealed for the release of Turkish activist Osman Kavala are to be declared "persona non grata," President Recep Tayyip Erdogan said on Saturday.

The designation is a diplomatic term that signifies the first step before expulsion.

"I have ordered our foreign minister to declare these 10 ambassadors as persona non grata as soon as possible," Erdogan said.

The Turkish Foreign Ministry summoned the ambassadors on Tuesday for what it said was an "irresponsible" statement.

The envoys had issued a rare joint document that called for a speedy resolution to the case of the jailed civil society leader.

Kavala has been in prison since late 2017, charged with financing protests in 2013, and taking part in a failed coup in 2016, which he denies.

The ambassadors concerned are the Ankara representatives of the US, Germany, Canada, Denmark, Finland, France, the Netherlands, New Zealand, Norway, and Sweden.

[...] 

https://m.dw.com/en/turkey-to-declare-10-ambassadors-persona-non-grata/a-59604866

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1 hour ago, glenn239 said:

Unbelievable that they could lose Turkey.  Presumably, the Balkans could follow.

Turkey is gone for at least a decade, their politicians antiwestern rhetoric fully accepted by the people would make the Ayatolahs blush.  The Balkans are safe. The Russians have nothing they want.

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Will be fun to watch the lira exchange on Monday, a month ago it was 8.6 to the dollar, on Friday it was 9.6.

I can not see them keeping with their "economic policies" until the elections in 2023, something has to give up.  But who dares to say no to the Sultan.  He fired 3 or 4 central bankers in 3 years.  Official inflation is 20% and his is reducing interest rates to curb inflation...

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Oh well, never mind. 

Quote

Turkey: Erdogan walks back threat to expel Western diplomats

1h ago

After declaring 10 diplomats from Western countries "persona non grata" over their support of a civil society leader, it appears Turkish President Erdogan has changed his mind.

Turkish President Recep Tayyip Erdogan on Monday backed down from a threat he made two days ago to eject 10 diplomats from Western countries after they voiced support for activist Osman Kavala.

Kavala is a civil society leader and philanthropist who has been detained on charges of financing protests and involvement in an attempted coup in 2016.

Erdogan said the envoys had issued a new statement on the matter, which he said "shows they have taken a step back from the slander against our country."

"They will be more careful now," he added. 

Erdogan's change in attitude came after the United States and several other countries issued identical statements saying they respected a UN convention that says diplomats should not interfere in their host country's domestic affairs.

[...] 

https://m.dw.com/en/turkey-erdogan-walks-back-threat-to-expel-western-diplomats/a-59621772

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On 10/23/2021 at 1:08 PM, Mistral said:

Turkey is gone for at least a decade, their politicians antiwestern rhetoric fully accepted by the people would make the Ayatolahs blush.  The Balkans are safe. The Russians have nothing they want.

Anytime in the past that the Russians have been given the opportunity to meddle in the Balkans, they've done it.

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  • 4 weeks later...

The Turkish lira must be in phenomenal shape to outrun the USD in the Inflation Olympics.

Time to invest in wheelbarrow futures.

 

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On 10/26/2021 at 3:58 AM, Simon Tan said:

Meddle? The Russians are why the Balkans arent Albania. 

It is well forgotten now - ecactly as iot was predicted by Dostoyevsky back in 1877

https://russianuniverse.org/2015/02/25/dostoyevsky-on-slavs/Some Quite Special Remarks about the Slavs That I Intended to Make Long Ago.

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20 hours ago, Tim the Tank Nut said:

that is an interesting link.  I'm glad you posted it.

Some of the content may be a bit debatable but it's sort of prescient in it's own way.  Fyodor was quite the clever lad.

I now know that FD is up there in the clouds in the Thinkers Cafe with Orwell, Verne, Hayek etc. wearing their "I told you melonfarmers!" T-shirts.

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32 minutes ago, RETAC21 said:

Of course he does, he has big plans, half the Aegean islands are Turkish occupied territory...

I wonder if we will have a Galtieri moment soon.

Seems the Germans are dragging their feet with the U-214s and the Americans are flatly refusing to sell anything. 

There was a newsbit that they are now interested in the Danish F16As to replace the Block 30s and the F4s.

erdogan-takes-photograph-in-front-of-amp-8216-blue-homeland-amp-8217-map

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On 11/19/2021 at 8:04 PM, Mistral said:

 

I think time is running out for the Sultan.  It closed near 11.30 today, that 6 day record might not last long.

 

Yep, from 11 to 12 liras in 3 days. Record smashed.

Had a professor who used to say that it always amazed him how monetary crises are always so slow to get rolling even though all the signs are there for people to see, but how fast they move when they finally get started.

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On 11/20/2021 at 7:38 PM, Roman Alymov said:

It is well forgotten now - ecactly as iot was predicted by Dostoyevsky back in 1877

https://russianuniverse.org/2015/02/25/dostoyevsky-on-slavs/Some Quite Special Remarks about the Slavs That I Intended to Make Long Ago.

the last paragraph sums up exactly why we don´t want to be part of russia´s world . messianistic talk like this  prophesizes rivers of blood . one for the ´why we fight´ folder. 

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