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This is the correct answer. Turkey's ruling elite are converting assets and Turkish lira into EUR, USD, gold, etc., and will be leaving the general population,
by Whatboard 4y ago
This is the correct answer. Turkey's ruling elite are converting assets and Turkish lira into EUR, USD, gold, etc., and will be leaving the general population, those without access to foreign currency, holding an empty bag. Turkey recorded a capital and financial account deficit of 7357 USD Million in January of 2022, and I'm certain its much worse now.
- agumonkey 4y agoI've read that a few times, there are economic incentives to keep money weak to accumulate pricey assets.
- johnthewise 4y agoIt has risen to over 12B recently[1] and they are covering it all with 'net error omissions' aka money of unknown origins[2]. 1: https://twitter.com/ali_hakan_kara/status/1575759533053313024 https://twitter.com/ali_hakan_kara/status/157575953305331302..., orange is import and blue is export. 2: https://twitter.com/ali_hakan_kara/status/1569227497467699200 https://twitter.com/ali_hakan_kara/status/156922749746769920...