Friday, September 23, 2022
Central Bank, Tayyip Erdogan “interest is the cause, inflation is the result” He continued his steps in line with his theory and lowered the general interest rate from 13 percent to 12 percent, while inflation was around 200 percent.
On the one hand, the power “currency protected deposit” While giving money to those who have money in foreign currency, it causes millions of people to flee from the national currency. In a country where inflation reaches 200 percent, who deposits their money in the bank for 13 percent interest?
Those who enter the Stock Exchange to protect their money are also shaken. In any case, those who use Turkish Lira are publicly robbed!
Banks also gain as they invest in foreign currency, but the country and the people lose.
According to the news of the BBC, in 2019, very strict restrictions began to be applied to foreign currency accounts in banks, with a sudden decision one night. According to the practice, Lebanese can withdraw an average of 200 dollars a month in Lebanese lira from the money in their accounts, but banks calculate the currency well below the market value…
Those who want to withdraw all or a significant part of their money for urgent needs such as treatment costs are refused.
For the ongoing treatment of his sister Nanci, who has severe cancer in Beirut, in Istanbul, he raided the bank where his family had an account of 20 thousand dollars, together with a group. Tuesday Hafiz The young woman named young woman, who later turned out to be a toy, went on a table in the bank with a gun and made a live broadcast and was able to get 13 thousand dollars of the money. Tuesday HafizHe also did not neglect to get the 13 thousand dollars paid certificate.
Tuesday Hafizwhere he hides in the Bekaa Valley, spoke to Al Jazeera and explained the situation. “We don’t rob, we save our deposits, because banks rob us, they rob all Lebanese” she told me.
Tuesday Hafizat Reuters “We live in a country like the mafia. If you are not a wolf, the wolves will eat you” said. After Sali, at least 7 more depositors raided banks last week to get their money. Bank branches in Lebanon were closed indefinitely.
Banks in Turkey do not have such a problem for now. They earn by buying and selling foreign currency… As long as the Central Bank prints money, they will not experience a cash shortage… Small savers or wage earners have to keep their money in the bank for a while. Not everyone converts their monthly income into dollars. After all, they pay their debts with telephone banking, and if there is money left, they spend it by withdrawing cash…
As the US gets stuck, it presses dollars into the Federal Reserve and borrows as a state. Since the whole world demands dollars, printing money does not cause high inflation in the USA.
Turkey, on the other hand, applies an inflation policy. Again and again I remind you; Finance Minister Nurettin Nebati “We chose to grow with inflation.” didn’t he say?
But this method is not sustainable… Because Aurelius Augustineas said “When there is no justice, what is the state but a big gang?”
Is there a need to look for gangs or organized crime in a country where there is no justice?
Of course, while the resistance of the people is being reduced, the defense capacity of the country is weakened at the same time… Like the forest fire around the Aksaz naval base… Just like the closing of the military sections of Atatürk Airport…
Again, the USA continues to besiege Turkey from the north of Iraq and Syria, Greece, Armenia and Greek Cyprus. Turkey, on the other hand, removes mines from the Armenian border, after the Syrian and Iranian borders.
Could it be a coincidence that all these events happened simultaneously?