Turkey's Currency Collapsing

Discussion in 'Money & Finances' started by Frank Sanoica, Aug 11, 2018.

  1. Frank Sanoica

    Frank Sanoica Supreme Member
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    Fell 20% yesterday alone. Of course, the reporter took advantage of the opportunity to blame President Trump for saying he will increase sanctions against Turkey. Then in the next breath, the reporter stated sanctions have proven effective. The U.S. Dollar climbed strongly as conditions abroad deteriorated.

    Most "wizards" blame Turkish President Erdogan as being mostly responsible for Turkey's plight, rating him exceedingly poorly as a leader.

    Frank
     
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  2. Don Alaska

    Don Alaska Supreme Member
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    As I understand it, @Frank Sanoica, Trump is deliberately pressuring Erdogan and his government, and hoping that he can cause it to fall (in the parliamentary sense). Turkey has been a diplomatic pain since President Erdogan has starting trying to move Turkey from a secular state to an Islamic Republic and undoing everything constructed by Ataturk in the 1920s. Bring it all to a head was the imprisonment of that Presbyterian pastor who had not broken any laws other than being a Christian and promoting his faith. There are many other things involved here, among which is the stability of NATO, of which Turkey is a member. Trump hopes that as Turkish citizens watch their life savings inflated away, they will pressure the government to change its policies.
     
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