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Failures of an Economic Hitman in Turkey: Erdogan Re-elected
Failures of an Economic Hitman in Turkey: Erdogan Re-elected President Erdogan’s re-election in Turkey is a monumental failure of Western pressure. Because of it, it’s time to take our eyes off Ukraine and look at a different theater of World War III with equal if not bigger implications. Turkey is another in a now long […]
Greece To Help Tripoli ‘Block Turkish Ships’ As Libyan War Spills Into Mediterranean
Greece To Help Tripoli ‘Block Turkish Ships’ As Libyan War Spills Into Mediterranean The years-long war for post-Gaddafi Libya now threatens to spill over into the Mediterranean as Turkey and Greece line up on either side of the conflict. Each side is now threatening the others’ allied ships in southern waters after a controversial maritime deal expanded Turkish claims off […]
Turkey: Alarming Crackdown on Journalists, Desperate Appeal to UN
Turkey: Alarming Crackdown on Journalists, Desperate Appeal to UN The Working Group on Arbitrary Detention was held on September 13. Sadly, no one at the meeting addressed the persecution of journalists in Turkey — not José Guevara Bermúdez, Chair-Rapporteur of the Working Group, nor Béla Szombati, who represented the European Union, nor any other participant. […]
Turkey Exposes Central Bank Incompetence
Turkey Exposes Central Bank Incompetence Last year I asked whether Turkey would be “City Zero in Global Contagion.” That question was based on the crisis unfolding in the Turkish lira which materially threatened a number of major European banks, especially those in Italy. This week highlighted something really interesting for me that, I think, sets […]
Turkey’s Erdogan Vows To “Significantly” Cut Rates As Trump Set To Roll Out Sanctions Over S-400 Purchase
Turkey’s Erdogan Vows To “Significantly” Cut Rates As Trump Set To Roll Out Sanctions Over S-400 Purchase Lately not a week passes without some dismal news involving Turkey hitting the tape, and yet the lira continues to levitate, blissfully ignorant of the storm clouds headed for Ankara, levitating on hopes the Fed will cut rates […]
The Perfect Financial Storm
The Perfect Financial Storm COMMENT: Martin, Have read the two blogs on the Emerging Markets. Hit like a cold bucket of ice water. Knew something was coming from all your writings and the EMC, but Wow. Right in front of us. Here is an observation, a thought:Emerging Markets could turn out to be the Sub-Prime of […]
Turkey’s Debt Crisis Deepens, Erdogan Bails out Banks His Way
Turkey’s Debt Crisis Deepens, Erdogan Bails out Banks His Way Shifting bad consumer & business debts from banks to the public, but the way this bank bailout got packaged is pretty nifty. Turkish President Recep Tayyip Erdoğan has launched a raft of measures ostensibly designed to reanimate the economy, including offering direct financial support for […]
Turkish Lira Tumbles As Tanks Amass Along Syrian Border
Turkish Lira Tumbles As Tanks Amass Along Syrian Border After an already painful start for the Turkish lira this year, shedding more than 3.5% of its value against the dollar during the first three days of 2019 when it flash crashed after Mrs Watanabe puked on the carry trade after Apple shockingly guided lower, and after […]
Russian South Stream 2.0 Comes Out of the Shadows
Russian South Stream 2.0 Comes Out of the Shadows Russia and Turkey have announced that the two countries have reached significant progress in reviving the November 2014-shut down South Stream gas pipeline intended to land Russian gas across the Black Sea. The project is the part of the already secured open tender contracts for purchases […]
Forget Nordstream 2, Turkstream is the Prize
Forget Nordstream 2, Turkstream is the Prize While the Trump Administration still thinks it can play enough games to derail the Nordstream 2 pipeline via sanctions and threats, the impotence of its position geopolitically was on display the other day as the final pipe of the first train of the Turkstream pipeline entered the waters […]
The Khashoggi Extortion Fiasco:
The Khashoggi Extortion Fiasco: A mystifying diplomatic escalation ensued following the disappearance of Saudi Washington Post columnist, Jamal Khashoggi, after visiting the Saudi Consulate in Istanbul, Turkey. Why would the United States of America make such a fuss over the disappearance of a non-American citizen? Why would America turn a blind eye to the Saudi […]
US-Saudi Relations Enter Unchartered Waters
US-Saudi Relations Enter Unchartered Waters The disappearance of the Saudi dissident Jamal Khashoggi in mysterious circumstances while on a visit to his country’s consulate in Istanbul last Tuesday still remains unexplained. The plot is thickening by the day. The latest reports suggest that he may not even be alive. The Istanbul Prosecutor has ordered an […]
Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles
Erdogan Vows To Abandon Dollar, “Doesn’t Need Permission” To Buy Russian Missiles Another day, another angry rant by Turkish President Recep Tayyip Erdogan aimed at the US, who on Sunday vowed Ankara would abandon the dollar in transactions with Russia and other countries, accusing the US of behaving like “wild wolves.” “America behaves like wild […]
Lira Plummets After Turkish Central Bank Deputy Governor Quits
Lira Plummets After Turkish Central Bank Deputy Governor Quits It was already an ugly day for the Turkish Lira, which earlier in the day accelerated its drop for the 4th consecutive session, sending the USDTRY to the highest level since August 14 when the currency crashed over the weekend to the lowest level on record. […]
The Rumors are that Turkey Will Default
The Rumors are that Turkey Will Default The rumors running around is that Turkey will default as Erdogan decides to move to align with Iran and Russia and leave the West behind. While there have been speculative attacks on the Turkish economy and US tariffs and sanctions have been detrimental, the initial causes of this growing monetary […]
