How Did Erodgan Save the Turkish Lira? Or Did He Save it?

in #newslast year

The Turkish Lira was having its free slide down in its exchange price with other currencies, most notably with the US dollar, despite the dollar itself not having its best time yet it was going up fast against the Turkish Lira to reach an unprecedented record of 18.4 Liras for 1 US dollar in the last 10 days of last year.


Keep in mind that in the year 2010, just before the Turkish madman Erdogan became the regional leader of the war of terror and attrition against Syria, the Turkish Lira was doing fairly good: 1.54 Turkish Liras for 1 US dollar. All the credit is given to Syria for saving the Turkish economy between 2002 and 2010 after the EU blocked its doors in the face of Turkey, through Syria the Arab world was opened for Turkey and its economy boomed.

The nature of the anti-Islamic Muslim Brotherhood especially the Turkish branch led by the madman Erdogan is a treacherous and backstabbing one, Erdogan accepted an assignment by George W. Bush the boy with a task to lead the region in the so-called 'Greater Middle East Project' known as 'Greater Israel' on the account of the peoples of the region. Since then, he turned his country, Turkey, which started with the slogan of zero problems with all neighbors when his party took over in 2002 into a country with no good relations with any neighbor throughout the past decade. Turkey's criminal role under Erdogan against Syria earned it some billions of dollars but the aspirations of the madman were much higher and this was dearly costly for his country's economy.

In order to finance his military adventures abroad and because Syria closed the gates of transit to the Arab world, the Turkish economy started bleeding and the Turkish Lira started its free fall, despite the massive amounts of money poured into Turkey from the main financiers of Al Qaeda and ISIS in Syria: Saudi Arabia and Qatar, and the large funding from Europe under the disguise of humanitarian aid for the refugees, not to mention the billions stolen from Syria's factories, wheat, other produce, and even the personal belongings of Syrians displaced by Erdogan's thugs, added to them the Russian multi-billion investments in the Turkish economy, one nuclear reactor for generating electric power alone came with 5 billion Euros funding from Russia.

Suddenly and after all indicators showed the Turkish Lira non-stop deteriorating, the price jumps up to 10.5 Liras for one dollar from 18.4 Turkish Liras for a dollar overnight. So what happened that night of December 23th? What Erdogan and his ministers claim a 'miracle' is no other than wasting billions of the Central Bank's reserves to support the Liras for the benefits of Erdogan's inner circle on the account of the Turkish citizens. The 'Erdogan miracle' is the recipe for the falling off the abyss for the Turkish economy by Erdogan, unless a real miracle happens and there's no sign of such a thing.

Husni Mahali, a Turkish career journalist explains what happened that night based on the statements of Turkish party leaders and economic experts in his latest article: The Signs of 2022… Erdogan’s War with the Dollar, Again!

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