Thread: The Price of Money , talking Turkey

All part of Trump's global economic war on any state that doesn't do as the US wants. Expect more and more to come.

Originally Posted by Neverna

All part of Trump's global economic war on any state that doesn't do as the US wants. Expect more and more to come.

Seems as he's digging a deeper hole for the already fanciful American economy.

Will he win the second term against Alex Jones?

Trump is thinking like his predecessors, with a western mindset that's unsuited to rogue states with high strategic value. Erdogan controls the immigration tap and Russian access to the Med, neither of which the EU/NATO (should) want to compromise. In these respects he also knows the west have no effective response short of making a noise while they keep giving.

Fallout to the EU, hopefully help it crash sooner rather than later. Won't be pretty.

Some blame must lie with the Turkish despot Robert Mugabe for taking the economy off a cliff. High inflation low interest rates and his son in law running the finance ministry.

Turkish despot Robert Mugabe

The Japanese also have a lot of exposure to the TRY

Originally Posted by Begbie

Some blame must lie with the Turkish despot Robert Mugabe for taking the economy off a cliff. High inflation low interest rates and his son in law running the finance ministry.

ah a Rhodes Collar gag ?

I still don't get it

Originally Posted by Neo

According to the Bank for International Settlements, international banks had outstanding loans of $224 billion to Turkish borrowers, including $83 billion from banks in Spain, $35 billion from banks in France, $18 billion from banks in Italy, $17 billion each from banks in the United States and in the United Kingdom, and $13 billion from banks in Germany.

If those numbers are accurate, none of it suggests the intl community might wish to cripple or destabilise Turkey, a bit of threats and thumping for which everyone can laugh at in private but nothing that might risk pushing Erdogan further toward Putin's welcoming arms, esp since he's proven himself to be a loyal protector.

Fast forward to Erdogan's 'humanitarian' blanket citizenship which I predicted almost two years ago, turning 'refugees' among whom there may be a jihadist or two into Turk citizens for easy access into Europe when the EU wimps finally succumb to his demands, or at very least priority intake that quickly and legally fills any quota, which as everyone knows becomes 'flexible' whenever the Euros lose control, while the illegals continue invading their target from all sides. Add that to exchange of sensitive NATO data to which Erdogan has right of access, together with Russian warships scaring the shit out of southern Europe with war games or even totally innocent transit...no, open to discussion but imho it's Erdogan that calls the shots, not an EU whose leaders are paralysed into inaction.

Agree... too big to fail is the hope. I do wonder though how Spain, one of the more recently troubled EU economies, loans Turkey $83 billion.

Turkey is in trouble with an inflation rate of 16% and rising and may well hit 20% in 2019. Erdogan has not allowed the central bank to do its job and this is has exacerbated an already bad economic situation. The lack of foreign reserves makes it unlikely the central bank can rescue the currency from falling. Erdogan has picked a bad time to pick a fight with the U.S. as Trump ramps up tariff threats which Turkey can ill afford. Over 100 years ago,Teddy Roosevelt said, "speak softly but carry a big stick". In regard to the U.S. Erdogan is speaking loudly but carrying a daffodil. Trump is not Obama and not afraid to up the Anti. If Erdogan thinks he will get away with his tough anti EU type rhetoric with the U.S.he will find out it is Trump that carries the big stick, as he did when he tried it on Putin.

Originally Posted by david44

ah a Rhodes Collar gag ?

....or, Wasabi Wannabe?

Originally Posted by Hugh Cow

Turkey is in trouble with an inflation rate of 16% and rising and may well hit 20% in 2019. Erdogan has not allowed the central bank to do its job and this is has exacerbated an already bad economic situation. The lack of foreign reserves makes it unlikely the central bank can rescue the currency from falling. Erdogan has picked a bad time to pick a fight with the U.S. as Trump ramps up tariff threats which Turkey can ill afford. Over 100 years ago,Teddy Roosevelt said, "speak softly but carry a big stick". In regard to the U.S. Erdogan is speaking loudly but carrying a daffodil. Trump is not Obama and not afraid to up the Anti. If Erdogan thinks he will get away with his tough anti EU type rhetoric with the U.S.he will find out it is Trump that carries the big stick, as he did when he tried it on Putin.

Good points, though some experts have Turkey's inflation closing in on 100%. Erdogan can do more or less as he pleases against a timid, frightened and vulnerable EU, but should accept that his mate Obama went almost two years ago and posturing against a US under Trump will earn him a split lip or worse. He should be savvy enough to realise that his roost ends at the big sea.

Originally Posted by HuangLao

....or, Wasabi Wannabe?

SAucy but to be less of obtuse for those unfamiliar with Dominus illuminatio mea

https://en.wikipedia.org/wiki/List_of_Rhodes_Scholars

Inter alia such luminaries as

Walt Whitman
Nick Katzenbach
Stansfield Turner of the company fame
Jamaica's Stuart Hall
Lateral thinker Edward de Bono whose rellies I sojouned with in now cool London
David Souter of US supreme court
NAC's Jim Woolsey ex CIA
Matelot Dick Danzig of the senior service
Chris Laidlaw and David Kirk the legendary Kiwis
ICANN mentor Ira Magaziner
Ronan Farrow Activist ,American human rights activist, senior foreign policy official in the Obama administration, and U.S. State Department special adviser on global youth issues