Tag Archives: Turkey

Most of the "analysis" of Turkey being offered is nonsense. Speculators following it will be taking the losing side of the trade. Alan Longbon nails it. This post is the best available that I am aware of.   The title is too limited. The article comprehensive.  Does President Erdogan understand MMT? And maybe President Putin, too? Is the world waking up? To early to tell but the signs are encouraging. President Erdogan realizes that that the international institutions like...

Turkish President Recep Tayyip Erdogan said on Saturday that his country is ready to trade with partner nations using national currencies. “We are preparing to carry out trade in national currencies with China, Russia, Iran, and Ukraine, which account for the bulk of bilateral trade. If European countries want to get rid of the pressure of the dollar, we are ready to create a similar system with them,” said the Turkish leader during a meeting in the Turkish city of Rize. Fort RussTurkey to...

Turkey joins Russia in declaring it is under US attack. Erdogan said those who plotted against Turkey in a failed coup attempt in July 2016 were now trying to target the country through its economy, and pledged to fight back. He did not name any countries. This is how WWIII starts. Leaders don't choose such words lightly.The US now engaged in hybrid war with China, Cuba, Iran, North Korea, Russia, Turkey, and Venezuela. Did I forget anyone?ReutersTurkey is a 'target of economic war',...

How can Erdogan get out of this currency crash? The capitalist solution is to hike interest rates to an astronomical height so that further borrowing is stopped. Then the government should dramatically cut government spending and raise taxes (ie fiscal austerity) and use the ‘savings’ to bolster the banks and meet foreign debt repayments. Turkey should also turn to the IMF for a loan – Greek style. Under IMF rules, it could borrow up to $28bn to fund future debt repayments but then be...

Turkey’s President Recep Tayyip Erdogan has spoken about the primary objectives during the first 100 days of his new administration. Speaking of western financial speculation against the Turkish Lira, Erdogan reiterated that the country is “facing an economic war, but we will win it”. As part of his strategy to win the western war against Turkey’s monetary policies and existing economic growth model, Erdogan announced that for the first time in history Ankara will issue state bonds in...

The prosecution of Mehmet Hakan Atilla has further strained relations between US and Turkey.… A US judge sentenced Mehmet Hakan Atilla, a banker at Turkey's state-controlled Halkbank, to 32 months in prison on Wednesday after he was convicted earlier this year of taking part in a scheme to help Iran evade US sanctions.... The case has further strained diplomatic relations between the United States and Turkey, and Turkish President Recep Tayyip Erdogan has condemned it as a political...

Important backgrounder. Asia Times From Ankara to Moscow, Eurasia integration is on the move Pepe Escobar

Any push by Turkish forces toward Manbij, part of a Kurdish-held territory some 100 km (60 miles) east of Afrin, could threaten U.S. plans to stabilize northeast Syria and bring them into direct confrontation with U.S. troops deployed there.“Those who support the terrorist organization will become a target in this battle,” Deputy Prime Minister Bekir Bozdag said.“The United States needs to review its solders and elements giving support to terrorists on the ground in such a way as to avoid a...

News synopsis. Short.Moon of AlabamaSundry - Shutdown, Ukraine, Omidyar And Syria b

A television interview of a top Qatari official confessing the truth behind the origins of the war in Syria is going viral across Arabic social media during the same week a leaked top secret NSA document was published which confirms that the armed opposition in Syria was under the direct command of foreign governments from the early years of the conflict. And according to a well-known Syria analyst and economic adviser with close contacts in the Syrian government, the explosive interview...