Erdogan asks Turks to "trust new" economic model as Turkish Lira weakens

NEWSRAEL ^ | Dec 9, 2021 | NEWSRAEL

[JerusalemOne]

NEWSRAEL: In Israel, when somebody says "Trust me" - that is a sure sign that you are about to be screwed. We am not sure, and we will ask our contacts in Turkey about this, but we are willing to wager that it's the same in Turkey. In any case, we can expect a lot more opposition to Erdogan's AKP party, and Erdogan himself in the future.

President Tayyip Erdogan said on Wednesday Turks should be patient and trust his government's new economic model, under which he has prioritized economic growth driven by low interest rates, as the lira fell 2 percent towards record lows.

The lira's slide has been driven by aggressive monetary easing which economists and opposition politicians say is reckless. Inflation jumped to a three-year high of 21.3 percent last month.

Speaking after a cabinet meeting, Erdogan said price increases in Turkey were being caused by greed and import prices, adding that he would not allow what he called the “major crime” of stockpiling in any institution.

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[allendale]

The fact that Turkey is a member of NATO demonstrates how there no longer remains a rationale for the United States to remain a part of this outmoded and costly foreign entanglement.

[edwinland]

Speaking after a cabinet meeting, Erdogan said price increases in Turkey were being caused by greed and import prices, adding that he would not allow what he called the “major crime” of stockpiling in any institution.

He joins a long list of people who screwed up their economies and then blamed the mess on an evil conspiracy, including Hugo Chavez, Vladimir Lenin and Joe Biden.

[montag813]

He should just move to Bitcoin.

[jimmygrace]

Great! His new economic model is the old economic model...keep interest rates artificially low to hide the fact that you are printing money and screwing people who actually work for a living.

[Wayne07]

He is just trying to copy what the US is doing.

[Boogieman]

Lol, low interest rates and money printing in the face of rampant inflation... where have I heard that song and dance before?

[SunkenCiv]

Lira search results:

• Turks abandon the Lira for Dollars [11/29/2021]
• Turkish Lira Nose-Dives 15% as President Defies Critics [11/23/2021]
• Turkish lira plummets to "insane" historic low after President Erdogan sparks sell-off [11/23/2021]
• Turkish lira in freefall over Erdogan’s ‘unorthodox’ inflation theory -(16%/month) [04/25/2021]
• Turkish Lira Plunges After Erdogan Fires Central Bank Chief: Biggest single-day selloff in almost three years [03/22/2021]
• Turkish lira slips as U.S. moves closer to sanctions over S-400s [12/06/2020]
• Turkey Hit By Bank Runs, Currency Panic As Locals Sell Their Cars And Houses To Buy Gold While Lira Implodes [08/16/2020]
• Erdogan says those who buy FX expecting lira to fall will pay 'heavy price' [03/24/2019]
• Stocks rally hits pause, peso and lira tumble (Venezuela, Turkey) [08/31/2018]
• Turkey's lira weakens 6% more on threat of more U.S. sanctions; U.S. Pastor's Appeal Rejected [08/17/2018]
• THE Turkey lira meltdown is causing a global economic crisis [08/13/2018]
• Turkey’s Lira Currency Crumbles as Trump Turns the Screws After Erdogan Double-Cross [08/13/2018]
• Turkey's lira crisis: How bad can it get? [08/11/2018]
• Turkish lira plunges 15% versus dollar after Trump authorizes doubling..... [08/10/2018]
• Lira collapses as Erdogan tells Turks: They have 'their dollars,' we have 'our god' [08/10/2018]
• Erdogan says lira under attack as currency hits new low (Turkey) [05/08/2018]
• Turkish lira weakens beyond 4 against dollar as economy worries weigh [03/28/2018]
• Crumbling lira pressures Turkish retailers as economy slows [01/23/2017]

[SunkenCiv]

Yeah, that should work. Who does he think he is, Joe Biden?

• Erdogan asks Turks to "trust new" economic model as Turkish Lira weakens [12/09/2021]