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Turkey is bankrupt

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Re: Turkey is bankrupt

Postby Kikapu » Sun Oct 18, 2020 4:08 pm

It is astonishing that all of a sudden Turkey starts finding Gas in the Black Sea one field after another in a short time, and yet, nothing in the Estern Mediterranean for the last two years, where it is flooded with Gas and Oil. :D

The first Gas find in the Black Sea was announced few weeks ago by Erdogan, about 320 bln/cm, first valued at 65B dollars and then within days it was valued at 80B dollars without any price shift in the cost of Gas. That was a nice trick. :D

Now, another Gas find of 85 bln/cm by Turkey in the same area in the Black Sea. Each time the announcement made by Erdogan himself, as if the say, I have found it for Turkey. :D

One would think that, if the Black Sea Is full of Gas fields just waiting to be tapped, why the fuck is Turkey wasting time in the EastMed looking for Gas illegally pissing everyone off when it could use all the resources to discover more Hydrocarbons in the Black Sea where it is legal in her own EEZ? :wink:

I have come to conclusion that if there was any gas found in the Black Sea by Turkey, it is very little, if anything. All these announcements are to try to stay stabilize the falling Turkish Lira and the failing economy by projecting future phantom income from the gas, but the market is not buying these projections as the Lira keeps on dropping. However, the main purpose for Turkey to portray itself as a major Gas discoverer, is to arm twist the major energy supplying countries to Turkey by demanding far better contracts than previously since Turkey now has it’s own Gas fields. That too is not going to work since if there is any Gas find, it will take few years to bring to the surface and to ashore. :D
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Re: Turkey is bankrupt

Postby Maximus » Thu Oct 22, 2020 2:59 pm

The lira made another record all time low against the dollar today,

The Turkish central bank kept interest rates on hold.

it reached around the $7.98 mark to the Lira.

Unemployment is currently around 17 million,

The HDP has called for a parliamentary inquiry about the risk of hunger and the threat of starvation to about 34 million people.

16 million citizens are classified as poor and a further 18 million are living on the verge of poverty.

Erdogan has given himself an 8% pay rise for 2021. An increase equivalent to three full time minimum wage salaries.

https://ahvalnews.com/turkish-economy/t ... sition-mps
https://ahvalnews.com/recep-tayyip-erdo ... boost-2021
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Re: Turkey is bankrupt

Postby repulsewarrior » Mon Oct 26, 2020 7:48 pm

...record lows,

https://www.thenationalnews.com/busines ... -1.1099852

"The lira has lost more than 25 per cent this year, the worst-performing currency in emerging markets after the Brazilian real. The Borsa Istanbul Banks Index was trading 1.9 per cent lower."
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Re: Turkey is bankrupt

Postby Maximus » Mon Oct 26, 2020 9:06 pm

It is kaput re RW,

Endorgan is now telling the citizenry to boycott french products.

most of them cant afford it anyway.

So no more Eau de toilette, instead it's going to have to be Koko bu bog.
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Re: Turkey is bankrupt

Postby Kikapu » Mon Oct 26, 2020 9:55 pm

Maximus wrote:It is kaput re RW,

Endorgan is now telling the citizenry to boycott french products.

most of them cant afford it anyway.

So no more Eau de toilette, instead it's going to have to be Koko bu bog.


Not even afford a “French letter”! :wink:
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Re: Turkey is bankrupt

Postby repulsewarrior » Tue Oct 27, 2020 1:49 am

...yet i cannot but find surprising the Arab support for Erdogan's criticism of Macron, given that many of them for other reasons are boycotting Turkish goods.

"religious" lines are being drawn, so says Erdogan; who is a "good" Muslim and who is an "other".

(It does not matter who Macron is because he is not more than a representation of a lone opposition, with "Greeks", while he goads much bigger forces to join together if they dare, to fight him; where are they this "Humankind"?)

...let's not forget that, in his mind, he, is the "Protector" of the faith; his faith. What he represents, representing his "Turkishness" as the true Faith of Muslims around the world: the return of the Caliphate to Istanbul.
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Re: Turkey is bankrupt

Postby Maximus » Wed Oct 28, 2020 1:58 pm

The Lira touched 8.30 to the USD today,

and 9.75 to the euro,

it has been devaluaing at a rate of about one dollar per month for the last 3 months.

damn.

At this rate and by the end of next year, it will be at like 15 to the USD. :roll:

But endorgan is diverting his peoples attention away from his disaster politics towards more of the same.

The man needs to go and probably be investigated and face justice.
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Re: Turkey is bankrupt

Postby Maximus » Tue Nov 03, 2020 2:55 pm

$8.52 to the Lira,

Which is new record low with no signs that it will stop.

Ali Babacan says that the central bank has two choices.

To increase interest rates sharply, which will sacrifice economic growth and bring the economy to a grinding halt.

Or let the Lira to continue to slide in to oblivion and anticipate huge waves of inflation.

https://ahvalnews.com/turkish-lira/turk ... bacan-says

Meanwhile nearly half the population is living in poverty or on the verge of poverty.

No action by the central bank will create the latter. Pushing nearly half of the Turkish population to live in poverty due to inflation.
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Re: Turkey is bankrupt

Postby Maximus » Tue Nov 03, 2020 5:40 pm

Endorgans government are drafting up plans for a wealth tax,

This is their answer to their economic mismanagement and failures.

It looks like the "wealthy" are going to get their assets fleeced to bolster the countries finances.

So everyone will become equally poor to continue to fund his megalomania.

https://ahvalnews.com/turkish-lira/turk ... icials-say
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Re: Turkey is bankrupt

Postby Kikapu » Tue Nov 03, 2020 6:09 pm

Maximus wrote:Endorgans government are drafting up plans for a wealth tax,

This is their answer to their economic mismanagement and failures.

It looks like the "wealthy" are going to get their assets fleeced to bolster the countries finances.

So everyone will become equally poor to continue to fund his megalomania.

https://ahvalnews.com/turkish-lira/turk ... icials-say

Erdogan and his gang of thieves have already moved their stolen wealth offshore long time ago. :D
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