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foreign currencies reserves
gold reserves

Gaddafi Kiss of Death
Al monitor | Why are Turkey's gold reserves on the rise? April 2018

In a sign that Turkey will continue to stock up on gold, President Recep Tayyip Erdogan on April 17 argued that international loans should be based on gold rather than dollars. Speaking at an economic gathering in Istanbul, he remarked, "Why do you have to make the loans in dollars? Let's base the loans on gold. We need to rid states and nations of exchange rate pressure. Throughout history, gold has never been a means of pressure." Erdogan also said that he had made the suggestion to International Monetary Fund officials at a G-20 meeting.
Bloomberg | "Authoritarian Gold Bugs" June 2018


Diversity is the key to economic and political evolution.
by Cat on Wed Aug 15th, 2018 at 02:46:33 AM EST
[ Parent ]
USD:TRY:RMB


Bloomberg rallies FX speculators, "Turkey Just a Test Case as Quantitative Tightening Era Nears"

uh huh.

That's new.

NEXT WEEK: Trump [SANCTIONS VANUATU CURRENCY MANIPULATION]

Diversity is the key to economic and political evolution.

by Cat on Wed Aug 15th, 2018 at 03:52:40 PM EST
[ Parent ]
Qatar Comes to [$15B] Rescue as Turkey Moves to Avert Financial Crisis
re: "synergies," wind down, BONUS: commercial paper notes
It total, companies have $217 billion in net foreign-exchange debt, equal to about a quarter [25% of 52%] of gross domestic product, according to central bank data. While officially the bad debt [NONPERFORMING LOAN] ratio at Turkey's banks is just 3 percent, lenders are in the process of renegotiating upwards of $20 billion of loans to try to prevent them from going into default.

Against this backdrop, the nation's banking regulator said late Tuesday that lenders can now extend maturities on or refinance loans, issue new debt to help troubled companies, and seek new collateral [BWAH!] to protect themselves. They can also demand debtors sell assets to repay loans.

familiar territory

Diversity is the key to economic and political evolution.
by Cat on Wed Aug 15th, 2018 at 10:30:43 PM EST
[ Parent ]
AHA!
U.S. stocks moved lower in the last 10 minutes of the session after Trump, in an interview with Reuters, said he was "not thrilled" with Fed Chairman Jerome Powell and accused China and Europe of manipulating their respective currencies.
I tell you wut, ooo boy howdy, you gotta wake up pretty early in the morning to slip one by this guy!

archived
The EU List of non-cooperative tax jurisdictions. 5 Dec 2017

Diversity is the key to economic and political evolution.

by Cat on Tue Aug 21st, 2018 at 03:25:49 AM EST
[ Parent ]

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