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Turkey’s Lira Currency Crumbles as Trump Turns the Screws After Erdogan Double-Cross
Breitbart ^ | August 12,2018 | John J. Xenakis

Posted on 08/13/2018 6:16:56 AM PDT by Hojczyk

Trump met Erdogan at a Nato meeting early in June. Their discussions were very friendly, and after they ended, Trump thought they had made a deal: Trump would ask Israel’s prime minister Benjamin Netanyahu to release a Turkish citizen, Ebru Ozkan, arrested because of alleged terrorist links to Hamas, and then Turkey would release pastor Andrew Brunson, who was arrested in Turkey on October 2016 on charges of espionage, which the US considers are bogus charges.

So on July 14, Trump called Netanyahu and requested that Ozkan be released, and she was released the next day. But Brunson was not released, and Turkish officials said that no such deal had ever been made. Instead, they began piling more demands that would have to be met in exchange for the release of Brunson, including the extradition of Fethullah Gülen, whom Erdogan blames for the attempted coup in Turkey in 2016, but without any evidence.

Needless to say, Trump was infuriated, and this led to a first round of sanctions in July, and then Friday’s announcement of more sanctions. The Trump administration is now saying that Brunson must be released, to resolve this situation. Furthermore, reports indicate that because Trump believes he was double-crossed, the administration is also requiring that all further conditions and demands from Turkey be put into writing, to avoid future misunderstandings.

Trump is now involved in highly contentious sanctions disputes with Turkey, Russia, Iran and China. Any one of these situations could spiral into something much larger, including an actual war. Also, since the global financial system is currently one huge Ponzi scheme, one of these situations could also trigger a chain reaction leading to a global financial crisis. Washington Post and Hurriyet News (Ankara) and Ynet News (Israel) and Middle East eye

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Government; Israel; News/Current Events; War on Terror
KEYWORDS: andrewbrunson; bitcoin; brunson; china; cryptocurrency; ebruozkan; erdogan; fethullahgulen; gazprom; iran; israel; jerusalem; kurdistan; letshavejerusalem; lira; petro; receptayyiperdogan; reservecurrency; russia; sanctions; turkey; waronterror
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1 posted on 08/13/2018 6:16:56 AM PDT by Hojczyk
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To: Hojczyk

They don’t need their lira, they have allah.


2 posted on 08/13/2018 6:21:28 AM PDT by JPJones (More tariffs, less income tax.)
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To: Hojczyk

What do you want to bet that he asked for a pallet of cash.

The damage 0bama’s weakness did to US stature will persist for decades. If it takes a war to get it back, it will not be Trump’s fault; the fault will lie at 0bama’s feet.


3 posted on 08/13/2018 6:22:48 AM PDT by logi_cal869 (-cynicus-)
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To: Hojczyk
Also, since the global financial system is currently one huge Ponzi scheme, one of these situations could also trigger a chain reaction leading to a global financial crisis.

What better time to start unraveling that hairball than now?

4 posted on 08/13/2018 6:23:05 AM PDT by glorgau
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To: JPJones

allah eva wanted was a ham sammich.


5 posted on 08/13/2018 6:23:29 AM PDT by teeman8r (Armageddon won't be pretty, but it's not like it's the end of the world.)
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To: Hojczyk

This is Exhibit A of why many Trump supporters love him and his critics don’t get it.

You SHOULD be playing hardball against these horrible people. Hit them where it hurts (and when they’re vulnerable) until they cry uncle and you get them to back down.

How many administrations in a row have we had people who just go along to get along? Stop putting up with nonsense from tinpot retrograde weirdos. Too many people are fed up with that.


6 posted on 08/13/2018 6:25:34 AM PDT by StoneRainbow68
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To: Hojczyk

So Ozkan was released, but not Brunson. Next time do it like how they exchanged spies during the Cold War: simultaneously.


7 posted on 08/13/2018 6:27:52 AM PDT by Leaning Right (I have already previewed or do not wish to preview this composition.)
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To: Hojczyk

Turkey is still (nominally) in NATO. But why? This kind of crap ought to be plenty of grounds for expulsion.


8 posted on 08/13/2018 6:30:28 AM PDT by Little Pig
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To: logi_cal869

Erdogan once threatened to flood Europe with 500,000 Turkish males. He might get desperate and seize the rest of Cyprus, unless the Russians or Israelis warn him not to.

He’s unhinged and thinks he’s the Sultan, Caliph, & Mahdi rolled into one.


9 posted on 08/13/2018 6:33:38 AM PDT by elcid1970 ("The Second Amendment is more important than Islam. Buy ammo.")
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To: Hojczyk

Erdogan is getting more like Sadam Hussein everyday. I wonder if he has a well hidden hide-hole already for the big day...


10 posted on 08/13/2018 6:36:18 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: Hojczyk

Erdogan still has this notion that he can restore the Ottoman Empire, and as such he may exercise every sort of “diplomacy” that the Ottoman Empire was famous for.

Double-dealing and sleight of hand were their trade marks and their best face to the world. The sultans of the Ottoman Empire were sometimes fortunate in their selection of enemies, and the empire lasted from the fall of Constantinople into the early 20th Century. But the internal politics eventually so weakened the control of the last of the sultans, that it was rapidly dismantled after the First World War, which the Ottomans had entered on the side of the Habsburgs and Austria-Hungary, resulting in the balkanizaton into dozens of small countries, many of which retained their factional differences.


11 posted on 08/13/2018 6:44:15 AM PDT by alloysteel ("No" is a complete sentence. On so many levels.)
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To: glorgau
I find it hard to believe the collapse of the Turkish lira could ignite a global financial crisis.
12 posted on 08/13/2018 6:48:20 AM PDT by Rummyfan (In any war between the civilized man and the savage, support the civilized man. Support Israel.)
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To: Hojczyk

Hey Erdogan, it was easy. All you had to do was release the pastor.

It might be too late now, but it’s still worth a try.


13 posted on 08/13/2018 6:54:49 AM PDT by FroggyTheGremlim (A woman's right to choose: except for rape, she can choose NOT to have sex.)
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To: Hojczyk

“In July he appointed his son-in-law, Berat Albayrak, to run the central bank, and said, “We will see inflation and interest rates decline in the coming period.””

Erdogan is all about accumulating wealth and power for himself. Now that he has become effectively a dictator, it looks like he plans a money printing spree.

He is going to break Turkey’s economy big time, with inflation and devaluation. They are heading the way of the Weimar Republic, Venezuela and Zimbabwe - and Turkey itself in decades past.

A lot of Turkey’s rapid development in the last decade was achieved with foreign loans - their businesses are in debt at a higher rate than the global average, and payments must be made in Euros and Dollars. Loan payments already costs them twice as much Lira as it did at the beginning of the year, and the Lira is dropping faster and faster.

A wave of bankruptcies is already baked in because of this increased cost. A further big drop in the Lira will make it into a tsunami.

I don’t think that anyone can talk to him anymore, even at the top of his own political party. He makes his son and son-in-laws ministers in the Government, where they can skim the most money for him (oil). He built himself the largest palace on Earth. His mania to grab more and more is coming to the end of the line.

He has stolen the whole country, but does not know how to run a business - only how to skim from them.


14 posted on 08/13/2018 7:03:31 AM PDT by BeauBo
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To: Hojczyk

I believe Erdogan failed to recognize Trump’s capacity to follow through with his intentions before he pulled the double cross his kind are noted for. Why do so many underestimate this President’s determination? He is VERY different in every way than other Presidents.


15 posted on 08/13/2018 7:12:53 AM PDT by Blue Collar Christian (Socialism is for losers.)
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To: Rummyfan

“I find it hard to believe the collapse of the Turkish lira could ignite a global financial crisis.”

Its kind of like the Greek financial crisis, in that European banks could go under, if a bunch of their loans default at the same time. Euro Governments will likely just send the bill to their taxpayers again.

Turkey is a bigger economy than Greece (triple), but the Turkish problem will be more private businesses going bankrupt, than the Government defaulting on bonds.

Bottom Line though: I also think the world will go on if Turkey’s economy collapses again.


16 posted on 08/13/2018 7:19:51 AM PDT by BeauBo
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To: Hojczyk

Turkey is not our ally, contrary to popular belief. It is a muzz country, and its allies are muzz countries. Do not trust anything they promise.

The head muzz is angry. They are always angry. Their religion teaches them to be angry.


17 posted on 08/13/2018 7:22:47 AM PDT by I want the USA back (If free speech is taken away, dumb and silent we are led, like sheep to the slaughter: G Washington)
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To: Hojczyk

Trump kicks ass.

This won’t end well for Erdogan.


18 posted on 08/13/2018 7:29:34 AM PDT by karnage
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To: Blue Collar Christian

Erdogan figured he had another chump on his hands; there’ve been so many.

“Good cop and bad cop have left the building. I’m a different kind of cop.”


19 posted on 08/13/2018 7:32:09 AM PDT by karnage
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To: karnage

“...figured he had another chump on his hands...”

He didn’t do his homework.


20 posted on 08/13/2018 7:39:04 AM PDT by Blue Collar Christian (Socialism is for losers.)
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