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DECEMBER 2021

Erdogan’s Turkey Stays On Track To Regional Dominance Despite Media Hype Over ‘Lira Fall’

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Erdogan's Turkey Stays On Track To Regional Dominance Despite Media Hype Over 'Lira Fall'

On March 22, Turkey’s lira started plunging against the US dollar after President Recep Tayyip Erdogan fired the head of the country’s central bank.

The currency weakened about 12% from March 19 to around 8.12 per US dollar. It had slipped even further against the greenback earlier in the morning.

The lira’s decrease came after Erdogan dismissed central bank governor Naci Agbal by a presidential decree on March 20. Agbal, who served less than five months, was replaced by Sahap Kavcioglu, a banking professor and former parliamentarian for Erdogan’s ruling Justice and Development Party, known as AKP.

Erdogan-promoted approach to monetary policy based on keeping interest rates low to avoid inflation finds little understanding in MSM as mainstream outlets are now full of headlines promoting the ‘collapse’ of lira and the Turkish economy itself.

These claims contradict the reality as despite the received criticism, the Erdogan government has been so far successful in dealing with negative economic trends and strengthening Turkey’s national economy and position in the region.

According to reports, Kavcioglu, the newly appointed head of the central bank, is set to promote similar approaches. Kavcioglu was a member of parliament in AKP from 2015 until 2018, and wrote columns for the pro-government Yeni Safak newspaper. Therefore, Turkey is set to keep its current track and push forward to expand its national economy and regional position in the way that it considers the best despite ‘wise advises’ globalist economists and ‘NATO partners’.

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johnny rotten

Everyone knows that the economic situation in Turkey is flourishing, it is becoming a case study among economists all over the world, they are amazed by that genius of Erdoghan and they want to steal his secrets, yes how not.

Ahson

he’s so fukked its not funny! His debts exceed his GDP……lol

Jens Holm

Yes, a lot is pee in the pants. You get warm for a while and then not. It was needed to give those money to his portential AKP electors. He won.

But next is not possible for loans as solution.

Thats BAD DEPT.

HiaNd

That was ironic right?
Borrowed LOTS of money from Chinese…Being part of the Chinese “Silk Road”. That is their “secret”

Voldemort

you mean sarcastic? but if you meant ironic then yeah seems ironic geopolitically.

Jens Holm

Yes, that must be sarcastic. China buyes influence but too often also waste a lot of money.

I will remind many here, that the soccalled Silk road actually are many roads and the ones by Caucasus is a new and better string for many things, which also wil devellop the newly made countries.

Its very visible for Turks and others see only both ends of the string. But if those might be named as A and Z, You have to see those many trainstations in the middle devellop by transporting from C to H and K to B as well.

It has potential and it can reduce transport. By that it seemes to be a good idea and invenstment.

China then also can be the robber :)

Ahson

Regional dominance my ass! Russia/ China/ Iran need to tell this guy to pack up and go home, before he loses his country to hillbilly and shyster machinations. Hard to believe Iran and Russia are talking to these mongol people and tolerating their outrageous behavior.

Jens Holm

Turkerky is not like that. The 40% non AKP mainly are sober people. The moderate Kurds has to be responsible too and are no Hill Bilies as well.

Those Turks also are non mongols at all. In genetics they even are 80% Europea/Indoeuropean.

The only think You do here is making lies about people, so You add good reasosns for killing each other.

Ahson

yeah but he’s a jihadist this turdo……don’t fukkin go into denial. He loses that facade of jihadism, and he loses the plot. All the colored sunni muzlim worship him, cuz they got no one else to look up to after the camel jockey publicly started sucking the shysters off. You gettin it Jensi?

Jens Holm

I cant admit things I never denied.

Mustafa Mehmet

that’s what you want dirty filthy Cockroaches://media3.giphy.com/media/kGdT4EeURjRQ1Othu0/giphy.gif

Ahson

lol……I get under your skin don’t I?…..lol…..you asiatic guppu need to be gulag’d to Xinjiang. Putin, Xi and Khamenei are watching you. Any wrong move…..and you go back out east, right where you started.

Mustafa Mehmet

🖕 💩 🖕 ben senin sülaleni . orospu çocuk amcik 👈

Ahson

You are looked down at as an asiatic race in Iran. You think we don’t know?….lol. Jew and mongol below the Aryan.

The Objective

Putin is no longer an ally of Iran in Syria. I think you know this already. but for the Iranians who don’t know yet, they’ll soon find. Things can’t remain hidden for too long.

Ahson

Iran and Russia renewed a 20 year strategic agreement very recently, in case you didn’t know. We are lock step against the west and its sunni muzlim jihadi toady drama. You getting the drift? And China is totally with us on the agenda. You got no way out bro…….you poor in pakestan, fukkin bankrupt! China uses you like an anti India wahabbi jihadi proxy, because it suits their agenda. You owe them $90 billion (and rising) and another $109 billion to the IMF/ WB. There ain’t no way out for you. Your debt higher than your GDP. God damn Parsi run Bombay’s GDP higher than your entire country’s GDP. In turkey’s case its half a trillion debt to the ECB and the IMF. You know this? read porc halal’s recent comment here. That’s higher than turkeys GDP. The West got you two sunni muzlim toady cornered in a kill box. I’m in favor of Iran going heartless, cruel, conceited and genocidal and dismantling both of you weak sunni muzlim Al-Qaeda toady. You deserve it for being losers and western satraps. You have no respect in Russia, China or Iran…..Zero!

The Objective

Can we just stop talking about economies and focus on the Russian-Iran alliance for a while? I’m trying to find out if you are really an Iranian. So here we go:
Iran and Russia signed a 20-year strategic alliance? I’d like you to tell me more about the nature of this alliance, and please, provide links where I can read for more details. this is not a challenge. I’m only asking a favor.
Secondly, I would like to make some things clear to you here, why Russia and Iran must break up in Syria:
1) the Arab League are ready to work with Assad – No conditions attached. The only obstacle in their way is U.S/European sanctions.
2) Israel, Europe, and America are ready to work with Assad – But there are conditions attached (Assad must ditch Iran). They can handle Turkey after that. Sanctions alone is enough to force Turkey to leave Syria.
3) Russia wants to reunite Syria fully under Assad’s dictatorship (America and Israel agree provided Iran is out)
4) Russia wants sanctions lifted on Syria.
5) Russia wants reconstruction aid from the E.U., Arab League, and America.
6) Russia wants to be the dominant power in Syria without having to compete with Iran. Iran is the biggest competitor to Russia over Assad.

Some important hints:
1) Iranian militias are no longer fighting the rebels – only forces allied to Assad are doing that.
2) Assad is not the decision maker in Syria – Putin is.
3) There are still many Iranian forces in Syria, but the are concentrated in government controlled areas and refuse to go to the front lines with ISIS and other rebels.
4) The Syrian Arab Army is divided: some loyal to Russia, others to Iran.
5) Russia is not stopping Israeli attacks on Iranian forces. Israel does not attack Syrian forces loyal to Assad.

This division is pretty clear to anyone who’s been following events in Syria.

Now what do you think?

Ahson

I’m goin let Garga, Ali and Blue in Green answer this for you…..You got me tired with your juvenile, irrelevant, turkish guppu mainstream media influenced and over active imagination…..lol……you need to worry about your pindostan more than turkey……..don’t let Iran and India smash yous like a fukkin puss filled wahabbi zit between the two of us……lol

The Objective

Forget them. I can only see Turkey getting stronger in economy and military.

cechas vodobenikov

uneducated night porter now confusing dildo with moderate

The Objective

A Turkish-Iranian alliance in Syria is inevitable. Russia, Israel, America and the Arab League want both Iran and Turkey out. Russia would cut any deal to get the U.S out of Syria and reinstate Assad’s dictatorship. I suspect very strongly that this deal has already been reached by Russia and America. Both Iran and Turkey have also realized this, that’s why their forces are no longer fighting. Only Assad’s forces are fighting Idlib and other Sunni rebels right now. Iran has pulled its forces back but not out of Syria.

cechas vodobenikov

pervertive lying again–Iran has entirely different interests in Syria; perverts are not prophets

Ahson

He knows the gig is up……there is no way out anymore……he’s putting on a brave face, but we know the truth, don’t we……lol

The Objective

No, the gig just begun. There’s a realignment in the Syrian war. Check my profile to read more detailed comments I made about Iran and Turkey becoming allies in Syria. I forecast that in the future, they’ll fight mercenaries funded by the Arab League, Russia, America and Israel. This war will get more ugly and destabilize other regimes in the Middle East.
I think Syria is the spark that will bring down the hypocritical rulers of the Arab world, starting with Saudi Arabia and the U.A.E.
I’m very happy to realize this, and will keep talking about it until all Iranians visiting this forum realize what’s happening between their country and Russia.
You claim to be Iranian, but I think you’re not. The real Iranians seems to be avoiding SouthFront lately. This forum is now crawling with Russians.

Ahson

you need to quit having delusions about turkey or pakestan. Both are castrated countries. A stroke of a pen and the West can dismantle both of them. Get real man.

The Objective

Please stop avoiding my statements about Russia’s clear intent for Iran. You keep deflecting the topic. If you are truly Iranian as you claim, you’ll be interested in discussing this topic and even researching it further. Please read my other comments and reply accordingly. I’m interested to know what you think about the Russian-Iranian alliance in Syria.

Ahson

Russian/ Iranian alliance is very strong as we speak…..there is no daylight between us. The objective is crystal clear…..and we know what that is now, don’t we?……lol. Jihadi/ wahabbi/ Al-Qaeda terrorism must be countered. No matter what. And mind you, China totally agrees too on this. That leaves you jihadists hanging high and dry don’t it?……lol

The Objective

Whenever you Russians mention the word “lie”, I know automatically that I’ve told a truth you don’t want revealed.

Voldemort

Turkey exports a lot of goods specially to EU with which it is in customs union. Weaker the lira more competitive the products are.

Jens Holm

Thats right as long as the lira is kept in value inside Turkey and prices dont go up by inflation. Unfortunatly they seemes to have inflation, so its a plus added a minus and we will see the netto before we eat.

Ahson

He exports tomato sauce, pasta, olives and canned pickles….fukkin hell, I make it an effort to not buy his products, or to go to doner kebab shop, because we know he funds jihadists. Do your part and defund jihadists. Least you can do.

Jens Holm

We danes agree, but we also has many Turks here being nice and normal people.

https://www.istanbulimpex.com/blog/detay/turkey-s-top-10-exports

cechas vodobenikov

night porter believes he speaks for all Danes—your rehab failed

Jens Holm

Being a nightporteri n those days was a very good job for me. People from many countries came there and I learned english and partly german and french well.

Things wasnt digitalized. By that they used porters a lot for tourisme as well as just knowing Our country and ceratinly the other way too.

I moved from home and it also was a good thing I got a almost free meal when I arrived in the evening and breakfst nexr morning. For at start I only had a very small room with a zink.

Ahson

you just pick up younger migrant boyz on da road no?……come on brah……lol. It’s ok……to each his own no?

Jens Holm

It seemes Your hotels are different from Ours.

Jens Holm

And correct. In this I speak for almost all danes.

Ahson

lol…..truck driver, who like younger migrant boyz no…..lol

Voldemort

Drop of Lira is reinforced with the printing and though economy is trying to catch up with the volume, printers are way faster, hence we got an inflation. But they seem to be printing non stop considering the lift of EU sanctions and getting into recovery mode after the pandemic.

Porc Halal

To be competitive you must also provide good quality products which is not the case here with turdistan …it’s not enough for a product to be cheap … you know, EU has some standards after all … It seems to me that SF is not that well financially and turkey saw the opportunity here and , you know, for the right price … after the deal done , everyone is happy!

Voldemort

i have no evidence to claim high or low quality for Turkish products. All i can see is the exports in numbers, and those numbers are not small.

Porc Halal

Turdistan has a negative balance … this is not good for an economy…

“ Turkey had a total export of 168,023,390.68 in thousands of US$ and total imports of 223,039,038.05 in thousands of US$ leading to a negative trade balance of -55,015,647.37 in thousands of US$ ”

Voldemort

That is precisely why they are printing hence value is dropping. Look at the what they export and what they import, that will give you an idea what kind of economy they have. The secret is in the ingredients.

Porc Halal

Hahaha! That was a good one .. the one with the ingredients 👍

cechas vodobenikov

also important–unstable turk economy now disincentives foreign investment

Ahson

you totally hit the jackpot with that comment big time…….most here are blissfully unaware of turdo’s reality. He’s upto his eyeballs in debt. And I’m seriously getting sick and tired of Russia and Iran keeping this mongol alive, when pretty much everyone wants him dead, like right now. Stupid Russia and Iran have some humanity left in them…….they are both fools! if you ask me.as soon as he gets a chance, this fukkin turk will bite us like a snake…….you know it…….

Porc Halal

Yes, I know … many times I feel like people don’t realize that … sadlly

farbat

its all fine and good but what happens when around 1 million turks die because of he planned iraq invasion i wonder how well things will work after such an event

Jens Holm

There is no planned Iraq invasion. I think its enough they have given PKK and others there a bad time.

The Osman job is to keep most of the taken land in Syria.

cechas vodobenikov

jens planning hookup w tratz

RD-180

The war with Egypt will come before the war with Iraq.

The Objective

I find this statement full of wisdom. Can you explain further what you mean?

Ahson

Come on brah….lol….Egypt an African outfit on US/ Israeli/ Sawdi/ UAE largess, and on the other end you got turkish guppu moghal on IMF and WB largess no? How will these two muppets fight? unless prodded on by the west no? Any shortage of lower caste muzlims these days? shit, even we here in Iran wondering, what in the hell we’re surrounded by human garbage no? Just junk!

The Objective

You are not Iranian.
Iran and Turkey are now allies in Syria because they understand that the U.S, Russia, Israel, Arab League want them out of Syria.
Russia thinks it’s smart. Putin is trying to get cheap Shiite foot-soldiers through Iran to fight off the Turkish-backed forces. Then later, America and Israel will fight Iran-backed forces to leave Syria. Then the U.S will pull out of Syria and let Russia reunite Syria under Assad. Then sanctions will be lifted, relations normalized, and reconstruction aid provided. What a strong incentive for both Russia and Assad to betray Iran.
Meanwhile, Israel gets to cut off Hezbollah from Iran and launches a war to destroy Hezbollah. The Russians will prevent any Iranian use of Syria to ship weapons, fighters, and supplies to Hezbollah in Lebanon.

LOL. If I can see this, then the Turkish and Iranian strategists must see it too, probably long before I did. Now Iran is no longer fighting the Sunni rebels. It’s more concentrated in government-controlled areas to ensure that Assad cannot stab it in the back.

I foresee a Turkish-Iranian alliance in Syria getting very strong. If you are Iranian, you’ll agree with me on this. But if you’re a pretender like I think you are, then you’ll oppose this.
So what’s your position?

Jens Holm

He just has displaced womens rights, so we should forget. They are too streched.

Maybee they can join with Lebanon, Syria and Iraq and take over the American dollar:)

I dont know the real reason for people being fired there for that. Its difficult jobs.

farbat
tzatz

You’re a Canadian ? WTF

The $C was 1.04 in 1959 … hello?

No trick …

RD-180

Erdogan got it right where all western professors got it wrong. It is true that when you increase interest rates, inflation goes down, but this is temporary. Erdogan is going for the long game. I hope Turkey becomes stronger and stronger. It is a pity they will inevitably go into a war with Egypt.

The Objective

“It is true that when you increase interest rates, inflation goes down”
You’re wrong pal. the West promotes that idea so that their money lenders can enslave countries in crushing debts while making exorbitant gains.
If I borrow money on high interest to invest in my business, I must increase the price of my commodity or services to be able to pay that high interest rate. somebody who borrows capital a 20% interest cannot charge the same price as someone who borrows capital at 5% interest or less.
Erdogan is following the winning model. He’s trying to immune the Turkish Lira from external manipulations of the U.S – similar to what China did.

The Objective

“It is a pity they will inevitably go into a war with Egypt”
Would you care to share your thoughts on why you think Turkey and Egypt will inevitably go to war?

farbat

turkey will be in war with pretty much the whole region so what is suprising about egypt in fact its a reasonable assumption to consider a turkey vs gcc war

farbat

erdogan is forgetting that turkey is a western controlled state so no the western professors dont have wrong what they do about the state they control and erdogan is wrong thinking that what he does is going to end well considering how pathetic turkey in truth is

farbat

of course islamic banking is sustainable but turkey isnt malaysia or iran and its membership in nato should say enough about how much it is in fact owned

tzatz

The value of the lira is NOT SET by Turkey but by World markets … therefore the fact it’s value is dropping means just that … to boost or stabilize its value Turkey MUST raise interest rates which Erdogan is loathe to do … eh?

Am I going too fast for you louts?

Whenever Turkey needs to repurchase goods from abroad the suppliers will be demanding MORE AND MORE TURKISH LIRA or $USD as payment! Thereby depleting Turkish foreign capital reserves …

Erdogan is f/kd … as are the turkeys …

Erdogan’s an OSTRICH with his head in the sand … the turkeys are f/kd

The Objective

“to boost or stabilize its value Turkey MUST raise interest rates which Erdogan is loathe to do … eh?”
Please read my comment above. I know you are a money-lender or at least once worked as a money-lender. You made a comment on MiddleEastMonitor that you worked as a money lender.

The losers will be the money-lenders and banks. the winners will be the consumers, businesses, and government. High interest rates almost always destroys economies, especially those in recovery mode.

tzatz

I was a money lender … in a world where money is the drug of choice … hello?

The money lenders to Turkey? Let them lose … the turkeys will suffer along with them … no free rides … tell Erdogan

The Objective

the Turkish government has more than enough to lend its citizens. Money lenders are thieves. They can go to hell. But there are the good not too greedy ones who’ll still be willing to lend. Low profit is better than no profit.

Ahson

No they don’t…….all the money has gradually trickled out of turkey over the last 5 years. Qarar can only do so much. And Iran and Russia/ China keep the asiatic guppu on a tight leash, knowing he’s sunni jihadi by nature. You gettin the drift?

The Objective

Sorry, but Iran is no longer in the Russian camp. Hint: they stopped fighting Syrian Sunni rebels. Only Russia and the SAA are now doing the fighting.

The Objective

All the money tricked out of Turkey? I’ll ask you to read the recent foreign investments that went to Turkey. You’ll be surprised.
Actually, global companies like Samsung, Huawei, and many others decided to enter or expand their businesses in Turkey. Billions of foreign investment in 2020.
Foreign manufacturing industries also like low interest rates. It means more people can buy their products, they get to pay less tax and employee wages due to zero inflation. And many other benefits.
We love Erdogan.

tzatz

‘We love Erdogan’ ?

So … a turkey thinks that borrowing money at 0.8% and only returning the principal is ‘great’ ?

And there’s no inflation?

Wake up sleepyhead … Weimar Germany is just ahead … eh?

YOU deserve all the ‘troubles’ coming your way … f/kn Erdogan is / was a scumbag … he’ll be yesterday’s man when the inflation starts getting out of control …

next

tzatz

Turkish government lending to its citizens = inflation

I was a godsend to those in need … eh? lol

The Objective

In my country, the Federal government is lending money to us at a 0.8% interest rate. In fact, most businesses just pay back the exact amount they borrowed. This hasn’t cause any inflation. In fact the reverse is the case. It has become very easy to start a business – especially agro business. Most businesses no longer have a problem of capital. Startup cost is extremely low. You don’t even need a collateral. All you need is a good business plan that convinces the evaluators, and passing their interview.

So how can Turkey’s case be different? Please explain how governments lending to the citizens causes inflation.

tzatz

Turkey has NO ability to print the MONEY without the World accepting whether Turkey can repay …

cechas vodobenikov

tratz learns economics in eskimo village—farcical

The Objective

“These claims contradict the reality as despite the received criticism, the Erdogan government has been so far successful in dealing with negative economic trends and strengthening Turkey’s national economy”
I am glad that the writer realizes this. I was going to point it out to readers. However, I’ll still something.
The West is furious over Erdogan’s objections to high interest rates. Because the West seeks to further enslave Turkey financially even as Erdogan is trying to wriggle Turkey out of their financial grip.
If Turkey increases interest rates like the West is advocating, many foreign investors will flock to Turkey (most likely investors acting as monetary agents of Western governments to enslave Turkey). They will not flock to Turkey to help its economy. They will flock to Turkey to LEND money to Turkish businesses on high interest rates – thus saddling them with huge debts. As a result, Turkish businesses will raise prices of their products and services due to the high interest rates they pay on their borrowed capitals. The result is “high inflation” and lower demands for goods and services (as consumers can’t afford to spend much due to the high prices). This will further lead to negative economic growth. So the consequences is severe: (1) the purchasing power of Turkey’s Lira will drop due to inflation. (2) Turkey’s consumers will suffer and find it more difficult to meet their needs (3) Turkey’s business men will be saddled with crushing debts (4) The economy will contract (5) Foreign investors will run away.

On the other hand, low interest rates will ultimately lead to an economic boom, though slowly. Here is how it works: First, more businesses and people will be willing to borrow and invest in their businesses. Due to the high level of borrowing (owing to lower interest rates) there’ll be a massive growth in domestic investment as new businesses open and existing ones expand production due to the increase in cheap financing. These businesses will reduce their prices because they pay low interest rates on their borrowed capitals. As a result, inflation will end. Turks can buy with their Lira and the Lira’s purchasing value will increase, forcing it to increase over the dollar. Foreign investors will be attracted to the stable Turkish economy.
the only disadvantage to low interest rates is that “money lender and banks” won’t earn much profit in interest charges. Foreign money lenders will run away because they can’t make the exorbitant gains of high interest rates.

I’m glad Erdogan fired that Western agent that is trying to destroy the Turkish economy. Erdogan’s recent economic reform package is also designed to support low interest rate economy. The Turkish government will borrow its citizens money to invest in Turkey even if private lenders refuse to. Erdogan also aims to end Turkish dependence on importing some goods. He’s creating a two separate presidencies similar to the presidency of defense. Domestic investment, production, jobs, and low prices is the ultimate aim of Erdogan’s new economy.

The Lira’s depreciation is artificial. But this new economic reform will address it in the near future.
May Allah help them succeed.

cechas vodobenikov

short term delusions—turkis economy in the mid term is failing. poverty increasing, unemployment worse. turkic unable to pay mercenaries, address internal chaos, increasing debt except through divesture of paltry gold reserves, and begging from al Thani in Qatar….when Qatari otter deprived of fish –new baklava pseudo empire

Helen4Yemen

Turkey is part of the region but we want the International Jews who
are totally alien to the region to get out of the region.

cechas vodobenikov

I care less what inferior racists want!

Helen4Yemen

1. If you are a white Jew, why do you not want to go home?
2. If you are a white Christian, you must invite your Jews home
closer to you away from the Arab region where they are hated
by 98% of the people of the region.

tzatz

Give it to ‘her’ hard / rough … she’s a glutton for punishment

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