Oops, that's to the Euro. It is currently 16.48 Turkish Lira to the $USD. Going to need a good parachute for this freefall. To use a poker analogy, Erdogan is going all in. After the Turkish Lira (TRY) had sunk as low as 18 to the dollar, it rose to 11 and then slid back to 13. Erdogan is making big promises and if the Lira begins to slide again, he'll likely be done. Unless, he starts a war? Turkey Halts All Stock Trading As Currency Disintegrates, Central Bank Powerless To Halt Collapse: Another day, another collapse in the Turkish lira, only this time there was a twist: as the hyperinflating currency implodes, Erdogan has finally had enough of the relentless pummeling, and is starting to shut down Turkey's markets. Erdogan then responded to the economic pain caused by rising prices by ordering a 50% increase in the minimum wage next year, guaranteeing even more inflation as it will increase production costs that will see inflation accelerate by a further 2% to 8% next year, Erkin Isik, chief economist at QNB Finansbank, wrote in a note to clients. And then, a stunning new development: as Bloomberg reports, all trades on Turkey’s benchmark stock index Borsa Istanbul 100 were halted after a sudden plunge in stocks - which until now were trading gingerly higher as one would expect in a time of runaway inflation - triggering a market-wide circuit breaker. Trading of equities, equity derivatives, and debt repo transactions were “halted temporarily” at 4:24 p.m. in Istanbul after the index reversed gains and fell as much as 5%, according to a public filing. Trading was scheduled to restart at 4:54 p.m, however, we are confident it will only lead to more selling. Sorry, I forgot the source: https://www.zerohedge.com/markets/turkey-halts-all-stock-trading-currency-disintegrates-central-bank-powerless-halt-collapse Also, in the article I found this: For what it's worth, our view is clear and what is happening is very much charted: it is our view that Erdogan is purposefully hoping to spark economic collapse and hyperinflation...... to deflect from the historic pillaging he and his cronies have done over the years. And the only way to do that is with a broad economic collapse that he can pin on "foreign intervention" and in the ensuing chaos, quietly sneak out of the country. A few coup or two should help. Its all coming together beautifully. He and Putin are no spring chickens … they are gonna have to make their move soon! We are in the … “its now or never scenario in their quest to power grab and invade …”
