Kikapu wrote:Maximus wrote:Erdogan, is determined to make Turks very poor. He is now telling all Turks to sell their USD reserves for Turkish liras or gold. Shortly afterwards the Lira made new all time lows and hit TL3.60. It started the week at TL3.40 and the year at TL2.90 !
It was at about TL1.20 to the USD ten years ago.
http://www.hurriyetdailynews.com/erdoga ... sCatID=346
Turkey will be thrown out of G-20 soon, as the TL is spiraling out of control.
Any Turk who buys into Erdogan's sale's picth to convert their USD into TL, need to get their heads examined. Erdogan is trying to keep the country's USD reserves intact and not sell it to buy useless TL to help keep the TL from going further down into the toilet fast, so he is trying to get the people to use their own foreign reserves to buy useless TL so that the government can steal peoples foreign reserves in exchange for giving them government's useless TL currency..
Buying gold would be the better option than the useless TL, but again, the government is trying to get people to spend their foreign reserves so that it can use it to pay off foreign debts, and when people want to sell their gold, give them governments useless TL currency.
Turks, if you are reading this, KEEP your US Dollars, Swiss Francs, Euros and even the battered British Pounds vs. receiving any TL against them, because there's nothing faster than losing value of your cash than when you are holding useless Turkish Liras.
Oh my days look,
Turkeys stock exchange has converted all their cash assets to Turkish Lira on Erdogans command.
http://www.hurriyetdailynews.com/borsa- ... sCatID=346