barn Posted August 12, 2018 Posted August 12, 2018 From here (Businessinsider) I guess the European Union shouldn't worry about that application paper for a (long) while. How is this going to affect its politics regarding borders and immigration?
J.L.W Posted August 13, 2018 Posted August 13, 2018 19 hours ago, barn said: From here (Businessinsider) I guess the European Union shouldn't worry about that application paper for a (long) while. How is this going to affect its politics regarding borders and immigration? It is a very interesting area. The financial system has been undergoing a shift pushed mostly from China for a long time that now everyone is jumping on. Which is de dollarisation. China plans a gold backed Yuan. If the dollar became a less relevant currency and countries no longer had to hold their foreign reserves in dollars. US banks would not be able to print money and expect real wealth in return. Thus, they would not be able to finance multiple wars for every country they feel like invading... I love that American Eagle meme... Not selling your oil in dollars? I always knew you needed some "democracy". (Russia is also dropping trade in the dollar!) In the sense of what is actually going on with Turkey. 90% of the time these so called financial crises blow over. There is no contagion, there is no change. There is loads of media hyperventilating that everything is going to change. That there is a possiblity something could change. Good example -> Greece. The 10% chance this does change something... Well, it's going to be messy. The DOW and other markets are being held up by buybacks and reliance on FAANGs and a ton of inflation. PE ratios are not good. If it were to reset to true value it would go down to about a third. It's not the only big thing happening in politics. If the Deep State fends off this threat to their empire we have the Swedish vote, a likely challenge to Theresa May, more from Italy and whatever Trump randomly comes out with. He really is the antidote to a stale political life! This whole started with Trump apparently just randomly sanctioning Turkey BUT, he does not have complete control over his administration in relation to Russian sanctions so, it may be they were de dollarising or growing closer to Russia anyway so the Deep state was the one that tried to sanction Turkey.
barn Posted August 15, 2018 Author Posted August 15, 2018 Hi @J.L.W As you and I had discussed our ideas in pm, I won't repeat them here again. Unless of course if you thought it was necessary, in which case feel free to quote, copy&paste, I trust your decision on that.
J.L.W Posted August 15, 2018 Posted August 15, 2018 Yes, during that conversation your points were very interesting and did change my original statements a little. Plus this is a fast developing story and news events have changed some of what was said.
J.L.W Posted August 19, 2018 Posted August 19, 2018 This to me is what it might really be about. This is being framed as something that is a response to Americas behaviour so far but something like this would have been in the works for a while. It was not just stated on impulse Zerohedge: Sanctions, Sanctions, Sanctions – The Final Demise Of The Dollar Hegemony? [Link] Quote President Erdogan has just declared he would look out for new friends, including new trading partners in the east – Russia, China, Iran, Ukraine, even the unviable EU, and that his country is planning issuing Yuan-denominated bonds to diversify Turkey’s economy, foremost the country’s reserves and gradually moving away from the dollar hegemony.
J.L.W Posted August 27, 2018 Posted August 27, 2018 Wow, this area only died down because of that fucking evil ceremony of cruel animal slaughter the Muslims have. It's back with a vengeance now! Quote Turkey has only addressed the symptoms, not the cause, of its currency crisis. Efforts to shore it up notwithstanding, the lira is likely to see renewed pressure. Aggressive rate hikes are needed to attract inflows to fund the Turkish current-account deficit, estimated at 6.35% of GDP. And those don’t seem to be on the table right now. [link] And: Quote Erdogan will go to Iran on September 7 for a three-way summit with Russian Iranian leaders. It is unclear what is on the agenda, but Turkey’s looming economy could be a priority of the talks. [Link]
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