Cyprus-Forum.com

[Maximus]

Remember how Erdogan keeps asking for the $1 Billion+ Turkey had made a deposit to be in the F-35 fighter jet program, but has been kicked out without the deposit being returned. Well, I believe the US will use that money as part of the settlement/fine against Halkbank since it belongs to Turkey’s Wealth Fund. Either way, that deposit is toast.

Oh, Oh... in fact I was wondering about that 1+ billion.
From what you said it looks Halkbank may not have enough assets to pay that 20b fine, hence the 1b deposit for the F-35 will be used to cover part of the fine. So assuming there will still be something due, let's say 5b, how's the US government get that money?
Ceasing more Turkish assets in the US, and if yes which?

Sorry to bother you with questions Kikapu, please have mercy on my ignorance.

Raise tariffs on steel, like Trump did and that sent the lira spinning.

Come on I may not know much of economics, but I do know something. This would only reduce Turkey's exports, whereas the US additional earnings from the tariffs will be paid by US firms/American consumers...
No I don't think that will be the way, sorry.

who knows, they will sanction the bank then.

[Lordo]

This forum has been predicting of the the demise of Turkey since I have been here and even before that. Your average GC's wet dream is that.

Anyway, the question is should I sell my TLs I have or not.

[Pyrpolizer]

This forum has been predicting of the the demise of Turkey since I have been here and even before that. Your average GC's wet dream is that.

Anyway, the question is should I sell my TLs I have or not.

You are right. So what's your problem?

[Get Real!]

I cant get passed the paywall.

No paywalls via my browser… thinking about it there must be countless articles you can’t access then.

Ah well…

[Get Real!]

You have to be careful about posting paywalled articles.

People are watching.

Stop using junk browsers and you won’t have any paywalls.

[Maximus]

I cant get passed the paywall.

No paywalls via my browser… thinking about it there must be countless articles you can’t access then.

Ah well…

dont worry about it.

[Maximus]

This forum has been predicting of the the demise of Turkey since I have been here and even before that. Your average GC's wet dream is that.

Anyway, the question is should I sell my TLs I have or not.

You are right. So what's your problem?

He doesnt know whether he should sell his TL's or not...

I would advise him to keep holding them.

[Kikapu]

Let’s not forget when the US government went after VW fairly recently for cheating with their car’s emissions system. There are still pending further lawsuits against VW.

I’m afraid Halkbank/Turkey is going to pay through the nose for trying to evade the sanctions US had placed on Iran. I remember at the time Erdogan boasting that the US laws do not apply to Turkey when flights full of gold was being flown in and out of Atatürk airport in Istanbul. Oops!

MARCH 17, 202011:24 AMUPDATED 2 YEARS AGO

Volkswagen says diesel scandal has cost it 31.3 billion euros
By Reuters Staff

FRANKFURT (Reuters) - Volkswagen VOWG_p.DE said its diesel cheating scandal has cost it 31.3 billion euros ($34.69 bln) in fines and settlements, and the German carmaker expects cash outflows to continue until 2021, adding that these have already been provisioned for.

Volkswagen was caught hiding excessive levels of toxic diesel emissions in 2015, a scandal that led to a management rout and thousands of regulatory probes and lawsuits which are taking years to settle.

“We expect special effects of 2.9 billion euros in 2020 and 1.2 billion euros in 2021,” Witter said about potential cash outflows on a webcast of the company’s annual results press conference.

A Volkswagen spokesman later clarified that the cash outflows had already been provisioned for.

(This story corrects to show VW referring to cash outflows, not additional unprovisioned expenses)

Reporting by Edward Taylor; editing by Michelle Martin
Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/article/us-volk ... SKBN2141JB

[Kikapu]

Remember how Erdogan keeps asking for the $1 Billion+ Turkey had made a deposit to be in the F-35 fighter jet program, but has been kicked out without the deposit being returned. Well, I believe the US will use that money as part of the settlement/fine against Halkbank since it belongs to Turkey’s Wealth Fund. Either way, that deposit is toast.

Oh, Oh... in fact I was wondering about that 1+ billion.
From what you said it looks Halkbank may not have enough assets to pay that 20b fine, hence the 1b deposit for the F-35 will be used to cover part of the fine. So assuming there will still be something due, let's say 5b, how's the US government get that money?
Ceasing more Turkish assets in the US, and if yes which?

Sorry to bother you with questions Kikapu, please have mercy on my ignorance.

My guess is that, if Halkbank is unable to pay whatever the fine is going to be and $20 Billion sounds like a good round number, the US government will go after their assets. Since Halkbank I’d half owned by Turkey’s Wealth Fund, the US can go after assents belonging to Turkey in the US, like the new Turkiye House just opened in New York. That must be worth couple of Billion dollars right there. Turkey may well have gold assets In the US also. I believe the US can also go for assets belonging to Turkey and Halkbank abroad by transferring it’s court’s judgement to that country. Let’s put it this way, the US will go after whomever has the deepest pockets and Turkey’s Wealth Funds is going to be the deepest pocket.

[Pyrpolizer]

Remember how Erdogan keeps asking for the $1 Billion+ Turkey had made a deposit to be in the F-35 fighter jet program, but has been kicked out without the deposit being returned. Well, I believe the US will use that money as part of the settlement/fine against Halkbank since it belongs to Turkey’s Wealth Fund. Either way, that deposit is toast.

Oh, Oh... in fact I was wondering about that 1+ billion.
From what you said it looks Halkbank may not have enough assets to pay that 20b fine, hence the 1b deposit for the F-35 will be used to cover part of the fine. So assuming there will still be something due, let's say 5b, how's the US government get that money?
Ceasing more Turkish assets in the US, and if yes which?

Sorry to bother you with questions Kikapu, please have mercy on my ignorance.

My guess is that, if Halkbank is unable to pay whatever the fine is going to be and $20 Billion sounds like a good round number, the US government will go after their assets. Since Halkbank I’d half owned by Turkey’s Wealth Fund, the US can go after assents belonging to Turkey in the US, like the new Turkiye House just opened in New York. That must be worth couple of Billion dollars right there. Turkey may well have gold assets In the US also. I believe the US can also go for assets belonging to Turkey and Halkbank abroad by transferring it’s court’s judgement to that country. Let’s put it this way, the US will go after whomever has the deepest pockets and Turkey’s Wealth Funds is going to be the deepest pocket.

Thanks Kikapu, great explanation as usual. Moral of this, nobody can escape the grip of the nation that became International police. Didn't Erdo know that?