Erdogan recommends to buy Turkish liras

[Gonthar]

It's gonna blow up real soon, the man himself has appealed to his people to buy liras:
"I want all my citizens to keep their savings in our own money, to run all their business with our own money, and I recommend this. Let's not forget this: as long as we don't take our own money as a benchmark, we are doomed to sink. The Turkish Lira, our money, that is what we will go forward with. Not with this foreign currency, that foreign currency."

Erdogan calls on Turks to keep all savings in lira

President Tayyip Erdogan said on Friday that Turks should keep all their savings in lira and that recent exchange rate volatility was largely under control after the lira weakened sharply in the last two months.

www.reuters.com

 

[eduardkoopman]

Imagine.
the trust in the value of the currency being thus low. That the president has to beg, for people to use their local currency. The Turkish Lira, looks like a shitcoin, tbh.

People in Turkey, can get ready, for getting (hyper)infaltion raped.

 

[Gonthar]

Imagine.
the trust in the value of the currency being thus low. That the president has to beg, for people to use their local currency. The Turkish Lira, looks like a shitcoin, tbh.

Well, he tried various economic maneuvers to strengthen the lira, but they had the opposite effect, if you buy now lira, hold it and believe in Erdogan, your faith will be rewarded.

 

[eduardkoopman]

Well, he tried various economic maneuvers to strengthen the lira, but they had the opposite effect,

That guy, is so stubborn. That he doesn't even listen to his advisors, and people close to him. That tell him what needs to be done, to save the currency. And he just fires them, and puts there a guy, that just does what he says.
But Erdogan is not capable enough in financial systems, to know what to do. he should had listened to the people that know about this subject matter, and that dare to speak up to him. But instead he just fired them, for daring to not agree with him.

If I had some free money. to trade currencies/forex. I would short the Turkish Lira

 

[Gonthar]

If I had some free money. to trade currencies/forex. I would short the Turkish Lira

LOL, like Soros did when he shorted the British Pound and made like a billion dollars?

 

[eduardkoopman]

LOL, like Soros did when he shorted the British Pound and made like a billion dollars?

Markets are brutals.

I read an old book that Soros wrote, I recall. the Alchemy of finance. Good read/book. But boring if one is not into finance/economics

 

[Wallenberg]

lol. Out of all people, Erdogan is the last one you should take financial advice from.

 

[eduardkoopman]

lol. Out of all people, Erdogan is the last one you should take financial advice from.

He's concerned ith staying popular, short term.
not what unpopular things that need to be done, to fix tha value of the currency, long term.

 

[Deleted member 14709]

Markets are brutals.

I read an old book that Soros wrote, I recall. the Alchemy of finance. Good read/book. But boring if one is not into finance/economics

What books/ yt channels you recommend for finance

 

[eduardkoopman]

What books/ yt channels you recommend for finance

Please define what you mean by "finance" a bit more indept??
And what level you are at? (beginner, advanced, etc..)
And are you just into learning? Or do you wanna participate, invest already?

it's such a broad term.
Some use it for business/entrepreneur.
Some use it for: financial system
some use it for; stock trading.
etc......