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Turkey is bankrupt

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Re: Turkey is bankrupt

Postby Lordo » Sun Jun 05, 2022 12:26 pm

First he knocked off six zeros off the currency exchange rate and change the name to New Turkish Lira and just a few years later went back to Turkish Lira and that worked and now he has got UN to accept the name Turkiye to be used in English too.

But of course I accept that the peasent sheeptiots will refer to Turkiye as Dourgiya. We have to make allowances for the pezzengopeasents.
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Re: Turkey is bankrupt

Postby Maximus » Sun Jun 05, 2022 12:52 pm

Its not Turkey or Turkish anymore, its Turkiye, but only in English.

In other parts of the world, the pronunciation, or the phonetic is "Dour-ki-ya" or "Dourk-eeya". :roll:

In Punjabi its Taraki,

In Afrikaans its Turkye,

In Somali its Turkiga,

In Serbian its Турска,

All are valid.

Now go count your Dourkiyean Lira and tell us if you are a millionaire yet,

You Terggish tramp.
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Re: Turkey is bankrupt

Postby Maximus » Mon Jun 06, 2022 8:14 pm

Support for Erdogans AKP has sunk to a record low of 27.7% according to a June survey.

And still the opposition can't garner enough support to win an election. The major opposition party, the CHP, only has 23.8% support. They must be really crap.

With all Erdogs blustering and BS and distortions of reality to pick fights and create distractions with neighbors, he still isn't doing what the electorate want.

Which is the fix the economy.

His puppet in the central bank has also gone so far to say that markets shouldnt expect any interest rate hikes, at least for the rest of the year.

Brace yourselves Dourkiyeans, life is going to squeeze you much harder.
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Re: Turkey is bankrupt

Postby repulsewarrior » Wed Jun 08, 2022 3:06 am

...read this.

"CHP leader outlines five problems of Turkey"
https://www.hurriyetdailynews.com/chp-l ... key-174347

...a very reasoned Platform.
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Re: Turkey is bankrupt

Postby Maximus » Thu Jun 09, 2022 6:59 pm

The lira is back sliding some more.

At its lowest point today, we saw it was just one Dourkiyean Lira away from its all time low against the US Dollar.

Erdolf, the master of disaster, must be thinking of reinstating his son-in-law as the governor of the central bank by now. He is running out of ideas, (other than raising interest rates) to get himself out of this mess.

The country's FX's reserves are also depleted from trying to support the lira during the last sell off. External debt denominated in foreign currency is soon to be due too.

It wont be long now before the banks start to fold, a run on the banks will likely ensue and capital controls will be introduced.

The inflation figures over the next quarter will probably see more than 100%.
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Re: Turkey is bankrupt

Postby Maximus » Thu Jun 09, 2022 7:20 pm

Union members protesting inaccurate inflation figures outside of the Statistical institute have been beaten with batons and arrested.

The genius cant have these terrorists spreading false information can he.
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Re: Turkey is bankrupt

Postby Maximus » Wed Jun 15, 2022 9:42 pm

Opposition DEVA Party Chair Ali Babacan on Wednesday said that Turkey is on the verge of a total bankruptcy,

“I am worried because the default risk of our country, namely the risk of bankruptcy, has reached to an unprecedented level. The future of our children is at stake. We are faced with a matter of economic and financial survival. Turkey's credit rating has dropped to the worst level in history,” Babacan added.

“What is default for Turkey, what is bankruptcy? It means that the Republic of Turkey cannot pay for the natural gas and oil it imports. Bankruptcy means that basic needs such as gas and diesel cannot be met even with money. You have money, you can't get more than half a gas tank, or you wait in a queue for 3 hours. That is bankruptcy,”

“Bankruptcy means widespread and long-lasting power cuts throughout the country. Imagine that the electricity is out for 6 hours, 10 hours per day. That's the danger. They don't know. Bankruptcy means total economic and financial collapse. Bankruptcy means chaos.”

https://ahvalnews.com/ali-babacan/turke ... er-babacan
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Re: Turkey is bankrupt

Postby Maximus » Thu Jun 16, 2022 12:17 pm

Maximus wrote:
It wont be long now before the banks start to fold, a run on the banks will likely ensue and capital controls will be introduced.



S&P saying it a week after I did.

Turkey, along with Tunisia, is among the most exposed to changing global liquidity conditions, said international credit ratings agency S&P Global in a report on emerging market banks.

“As such, under a hypothetical extreme scenario, the central bank could restrict access to these assets given its already weak foreign exchange reserves, and push banks to default,” S&P said.

“Clearly, a significant increase in foreign exchange demands by depositors would add pressure on the local currency and, in turn, on already low central bank foreign exchange reserves, increasing the risk of capital controls.”

https://ahvalnews.com/turkey-economy/tu ... ditions-sp
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Re: Turkey is bankrupt

Postby Lordo » Fri Jun 17, 2022 11:58 am

And I get accused of responding to myself. No shit man.

As to all time low for TL. I remember it being 6,000,000 to the pound and it was not that long ago. Some people have the attention span of a fish.
Last edited by Lordo on Fri Jun 17, 2022 12:07 pm, edited 1 time in total.
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Re: Turkey is bankrupt

Postby Maximus » Fri Jun 17, 2022 12:03 pm

Lordo wrote:And I get accused of responding to myself. No shit man.

As to all time low for TL. I remember it being 6,000,000 to the pound and it was not that long ago. Some people have the concentration of a fish.


You might as well have said;

I remember once, not too long ago when we lived like impoverished tramps, some people have a short memory.

:lol:

I suppose this soothes things and makes it alright to live like an impoverished tramp again.
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