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ECON FUNG RED ALERT: Turkish Meltdown as Lira Explodes...Panicked Sellers Spark Contagion
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  1. #81
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    Quote Originally Posted by hiwall View Post
    I thought the US had pulled all our nukes out of that air base back 2016 when Turkey had that "coup"?
    I looked at this long thread but failed to find where we pulled the nukes.

    http://www.timebomb2000.com/vb/showt...s-and-State-TV
    There was a news piece where it showed special airlift transports loading the nuclear vaults from Incirlik (but didn't exactly say they were nuclear vaults). Think it was Turkey invades Syria thread.

    FORTE EST VINUM, FORTIOR EST REX, FORTIORES SUNT MULIERES:

    SUPER OMNIA VINCIT VERITAS.


  2. #82
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    As I recall with Cyprus, a big issue will be US Bank exposure through derivatives on the European Banks that will be hit by this. That is the "contagion" of cascading default.
    "During times of universal deceit, telling the truth becomes a revolutionary act." George Orwell

  3. #83
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    Apparently Turkey has unfriened the US on Facebook

    ERDOGAN WARNS U.S. IT MAY BE FORCED TO LOOK FOR NEW `FRIENDS'

    https://twitter.com/zerohedge/status...154488322?s=21

  4. #84
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    Quote Originally Posted by marsh View Post
    As I recall with Cyprus, a big issue will be US Bank exposure through derivatives on the European Banks that will be hit by this. That is the "contagion" of cascading default.
    yep. Precisely. Just like Greece.


    Quote Originally Posted by Warm Wisconsin View Post
    Apparently Turkey has unfriened the US on Facebook

    ERDOGAN WARNS U.S. IT MAY BE FORCED TO LOOK FOR NEW `FRIENDS'

    https://twitter.com/zerohedge/status...154488322?s=21
    well, with friends like these, we don't need to look too hard for enemies.
    RULE 1:
    THEY want you DEAD.


    Athens, Tenn.
    Remember WHY?

    Word to the wise:

    "All skill is in vain when an Angel pees in the touch-hole of your musket!"

  5. #85
    Turkey says President Erdogan has held phone call with Russia's Putin to discuss economic ties amid market turmoil

    By The Associated Press
    ANKARA, Turkey — August 10, 2018, 10:06 AM ET

    Turkey says President Erdogan has held phone call with Russia's Putin to discuss economic ties amid market turmoil.



    https://abcnews.go.com/International...rticleroll_hed

    That was all, very short

    NW

  6. #86
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    Our military need to be expeditiously evacuated out of Turkey unless we intend to stay there and use it as a base for wiping the bastards out. Turkey is like that little dog that growls at you waiting until you are busy fighting a bear, and then it bites your ankles. We will soon be fighting a dragon, a bear, a swarm of invaders... and removing the ankle-biter before then would be better.

  7. #87
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    Quote Originally Posted by LightEcho View Post
    Our military need to be expeditiously evacuated out of Turkey unless we intend to stay there and use it as a base for wiping the bastards out. Turkey is like that little dog that growls at you waiting until you are busy fighting a bear, and then it bites your ankles. We will soon be fighting a dragon, a bear, a swarm of invaders... and removing the ankle-biter before then would be better.
    If we leave, we should raze the place.

  8. #88
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    Quote Originally Posted by northern watch View Post
    Turkey says President Erdogan has held phone call with Russia's Putin to discuss economic ties amid market turmoil

    By The Associated Press
    ANKARA, Turkey — August 10, 2018, 10:06 AM ET

    Turkey says President Erdogan has held phone call with Russia's Putin to discuss economic ties amid market turmoil.



    https://abcnews.go.com/International...rticleroll_hed

    That was all, very short

    NW
    The Russians and the Turks have never been friends. They've fought several wars. They are longtime opponents. Any alliance would most likely be very temporary.

  9. #89
    Παούνης Θ. Νικόλαος‏ @nickthpap · 50m50 minutes ago

    #Turkey 's largest pressure force lever towards the #USΑ stems from the country's enormous geopolitical position on the map & the use of #incirlik. When the facts begin to affect the air base in #Adana, we'll be talking about a rupture: #beratalbayrak

  10. #90
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    My take is Putin is concerned about his warm water ports on the Black Sea and ensuring his navy and commercial fleet have safe passage thru the Bosphorus strait.

    President Trump may not have to do anything more. IMHO if President Erdogan creates too much of a problem Putin will take care of it. Russia has much more at stake and is better positioned to deal with it.
    Patriotism is supporting your country all the time, and your government when it deserves it. - Mark Twain

  11. #91
    Lira Collapse To Jump The Mediterranean

    by Tyler Durden
    Sat, 08/11/2018 - 07:00

    Authored by Tom Luongo,

    The Turkish Lira crisis is fundamentally different than the Russian Ruble crisis of 2014/15. This one has contagion risk.

    Back then no one was worried about the fall of the ruble having spillover effect. If Sberbank failed, it wouldn’t jump to Europe. Then again, there was little worry about that since the Russians had more than enough in reserves to cover the debts.

    With Turkey, however, there is a real worry about this jumping into Europe. From Zerohedge:

    Friday’s fall came after the Financial Times reported that supervisors at the European Central Bank are concerned about exposure of some of Europe’s biggest lenders to Turkey, including chiefly BBVA, UniCredit and BNP Paribas. The FT reported that along with the currency’s decline, the ECB’s Single Supervisory Mechanism has begun to look more closely at European lenders’ links with Turkey. The moves also came after the US showed no signs of lifting crippling sanctions despite the visit of a Turkish delegation to the US capital.

    According to the FT, the ECB is concerned about the risk that Turkish borrowers might not be hedged against the lira’s weakness and begin to default on foreign currency loans, which make up about 40% of the Turkish banking sector’s assets.

    And while it does not yet view the situation as critical, it sees Spain’s BBVA, Italy’s UniCredit and France’s BNP Paribas, which all have significant operations in Turkey, as particularly exposed, according to two people familiar with the matter.

    Note the banks here. Italian zombie-bank UniCredit. Spain’s BBVa and France’s major zombie-bank BNP Paribas. You can almost smell the desperation in the Financial Times’ reporting on this.



    Everyone thought Turkey would not take their feud with the U.S. this far, that U.S. hybrid war belligerence would win the day before the point of contagion.

    But, that’s the problem with most market analysts, they analyze things in terms of the best trade of the moment, not the best trade for the next fifty years.

    They only analyze in terms of what they would do to protect their trade, not what a country would do to protect its future.

    Turkey needs to become independent of the U.S. and the depredations of dollar diplomacy. Erdogan will use this extreme weakness in the lira and the bond markets to separate those companies loyal to Turkey and those loyal to the U.S.

    And the former will be bailed out and the latter left to twist in the wind, blowing back their bankruptcies on the European and U.S. banks that are exposed to them.

    The first rule of writing is that conflict reveals character, it doesn’t create it.

    Remember, debt is a two-way street. When the debts are small they are your problem. When they are large, however, they are the bank’s problem.

    $222 billion in U.S. dollar-denominated Turkish corporate debt is the definition of the bank’s problem. So, while the U.S. barks and Trump splutters about ‘winning’ and all the rest, Erdogan remembers that these are the same people who tried to depose him in 2015 and failed.

    And Vladimir Putin and Iran were the ones who saved his hide and his government.



    Euro-ther Choice is Default

    Also note that this was brewing all week as the Euro pushed down towards support at $1.155 and then through it yesterday afternoon. Now, we are going to get a weekly close well below that level.



    Important Technical Breakdown of the Euro

    This started with President Trump doubling the tariffs on Turkey as President Erdogan continues to defy him over the return of Pastor Brunson, who has got to be a CIA asset or something. There’s no reason why we’re willing to go to these lengths to alienate and outright destroy the economy of a NATO partner unless there was something bigger at play.

    I’ve spoken at length over the past few months about how this situation (check out the articles here) and fully believe that Erdogan and Turkey knew this was coming and are prepared for it.

    Because, this morning the talk about this collapse is not about the effects on the Turkish economy or Turks themselves, but rather how it affects the bottom lines of the broader markets... you know, those who have the most to lose here.
    Turkish Judo?

    So, at any point Turkey could have knuckled under. It could have negotiated with Trump to avoid this. But, given that they refused to it tells me a number of things:

    Erdogan has the popular support to ride this out.

    Erdogan has the international support of his new friends: Russia, China, Iran and India to keep the internal Turkish markets liquid.

    Erdogan is preparing for the move to leave NATO, now that China is prepared to militarily support the last phase of the Syrian Civil War in cleaning up Idlib.

    Turkey’s refusal to stop doing business with Russia and Iran on energy and defense puts them in a strong position to remake much of their economy.

    The Dollar will be removed from the Turkish economy in response to this regime-change attempt.

    These are the things we know. We also know that China is Turkey’s biggest trading partner and will keep Turkey liquid through dollar-lira-yuan swaps.

    Now that we have that out of the way it is really that hard to believe that Turkey didn’t invite this attack by the U.S.?

    The proof of this is Erdogan’s refusal to accede to capital controls. He’s letting the capital flight happen. He wants the pain to be felt by everyone. And once it’s over, Turkey can rebuild its currency, since it has huge gold and foreign currency reserves and low sovereign debt-to-GDP.

    In other words, Erdogan is forcing a shock de-dollarization of the Turkish economy. So, by the way, is Iran.

    As I said before, crisis reveals character. And Erdogan can now figure out the character of those doing business in his country; where their loyalties lie. And knowing that there was significant contagion risk, isn’t it reasonable to think that Erdogan, Putin and Xi see this as an opportunity to hit the U.S. and Europe as hard as they are getting hit?
    Russian Roulette

    At the beginning I said this situation didn’t mirror the Russian crisis of 2014/15. That wasn’t completely true. From the contagion risk perspective no, from every other perspective yes.

    Putin used the crisis to reel in the Bank of Russia and purge it of IMF-style thinking of responding to currency crisis. He forced central bank President Elvira Nabullina to bailout certain firms, swapping their dollar-debt for ruble debt, while letting other wither.

    He destroyed the legitimacy of advisors like Alexander Kudrin and much of the ‘Atlanticist Fifth Column’ that dominated the financial sector and began the process of truly de-dollarizing the Russian economy.

    And because of this set Russia on a path of financial and foreign policy independence that cannot be challenged by the U.S. in any material way. Sure, sanctions will hurt a little here or there, but there are work-arounds. People are smarter than governments, and capital flows to where it is treated best.

    Sanctions have limits. Invariably, they never work. Putin’s approval rating soared post-ruble crisis. He had to endure a major coup attempt from within the Kremlin in March of 2015, likely from the same fifth-column oligarchs whose oxen he’d been goring for years.

    He survived and it’s now history.

    Erdogan has survived to this point with more power and popularity than he’s ever had. Expect the same outcome, but this time it’ll cost the U.S. NATO and the EU possibly its currency.

    * * *

    https://www.zerohedge.com/news/2018-...-mediterranean
    pragmatic. eclectic. realistic. vivere paratus: fortune favors the prepared

    the BIBLE: Basic Instructions Before Leaving Earth! read it yourself. live it. love it.

    it is what it is.........but it will become what you make of it

  12. #92
    Quote Originally Posted by 20Gauge View Post
    Funny, I remember when emerging markets were hurt by 10+% interest rates. Now it is a simple 3-4%. How times change, but remain the same.
    Addiction to debt.

    Just the way the banksters like it.




    Turkey is intentionally dumping the frn and willing to cause significant damage to their economy to do so.

    I would think Turkey's nato days are very numbered.
    pragmatic. eclectic. realistic. vivere paratus: fortune favors the prepared

    the BIBLE: Basic Instructions Before Leaving Earth! read it yourself. live it. love it.

    it is what it is.........but it will become what you make of it

  13. #93
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    No surprise here

    I have made multiple posts saying that Erdogan is RAVING LUNATIC WITH DELUSIONS OF RESTORING THE HISTORICAL OTTOMAN EMPIRE, IE THE ONE THAT NEARLY SACKED VIENNA IN 1683.
    Further, every single action Erdogan has taken is in pursuit of this goal. Erdogan has now threatened to invade both Cyprus and Greece. The context of an economic collapse, now ongoing with the Turkish Lira will result in OPEN WARFARE. Erdogan will indeed invade somebody in response to what he sees as open economic warfare by the EU, the USA etc against him.

    I was in the US Army back in the spring of 1974 when Turkey lit things up on Cyprus. Despite having shot or sacked most of his military officers, Erdogan still has a NATO level military to use as he sees fit.

    It is economics now, but the shooting will start soon enough. Pastor Wilkerson's prediction looks to be happening before our very eyes.
    Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
    My end of the world e book "Day of the Dogs" is available for sale at the following url
    http://www.amazon.com/-/e/B007BRLFYU

  14. #94
    Quote Originally Posted by Doomer Doug View Post
    I have made multiple posts saying that Erdogan is RAVING LUNATIC WITH DELUSIONS OF RESTORING THE HISTORICAL OTTOMAN EMPIRE, IE THE ONE THAT NEARLY SACKED VIENNA IN 1683.
    Further, every single action Erdogan has taken is in pursuit of this goal. Erdogan has now threatened to invade both Cyprus and Greece. The context of an economic collapse, now ongoing with the Turkish Lira will result in OPEN WARFARE. Erdogan will indeed invade somebody in response to what he sees as open economic warfare by the EU, the USA etc against him.

    I was in the US Army back in the spring of 1974 when Turkey lit things up on Cyprus. Despite having shot or sacked most of his military officers, Erdogan still has a NATO level military to use as he sees fit.

    It is economics now, but the shooting will start soon enough. Pastor Wilkerson's prediction looks to be happening before our very eyes.
    Worldwide liquidity watch starting this Sunday at 4 p.m. est

    Info from friend in N.Y. told me that political and financial wrecking balls are about to be swung....he is very worried
    Sow the Wind....Reap the Whirlwind

  15. #95
    Quote Originally Posted by Adino View Post
    Addiction to debt.

    Just the way the banksters like it.




    Turkey is intentionally dumping the frn and willing to cause significant damage to their economy to do so.

    I would think Turkey's nato days are very numbered.
    I would like to think so.
    No one ever rescues an old dog. They lay in a cage until they die. PLEASE save one. None of us wants to die cold and alone... --Dennis Olson

    Mo is my One.

  16. #96
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    Down Memory Lane

    Doc Fungcool, if you remember 1997 and the LTCM crisis, Long Term Capital Management, which nearly took down the ENTIRE GLOBAL MONEY SYSTEM WHEN RUSSIAN BONDS COLLAPSED. The Turkish Lira is EVEN WORSE, AMIGO BECAUSE OF THE EUROPEAN BANK EXPOSURE.

    Lock and Load, Doc Turkey may just take down the global system once the European banks start to collapse.
    Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
    My end of the world e book "Day of the Dogs" is available for sale at the following url
    http://www.amazon.com/-/e/B007BRLFYU

  17. #97
    Quote Originally Posted by doctor_fungcool View Post
    Worldwide liquidity watch starting this Sunday at 4 p.m. est

    Info from friend in N.Y. told me that political and financial wrecking balls are about to be swung....he is very worried
    Please keep us in the loop on this, Doc. Thanks!
    No one ever rescues an old dog. They lay in a cage until they die. PLEASE save one. None of us wants to die cold and alone... --Dennis Olson

    Mo is my One.

  18. #98
    With Turkish Surprise, Markets Wobble—and Continue August Tradition; An usually calm summer month also has a habit of being upended by dramatic events, and it happened again

    Friday, August 10, 2018, 6:26 PM ET
    By Ben Eisen
    Wall Street Journal

    August is turning volatile for stocks, continuing a tradition of market turbulence during the dog days of summer.

    The latest moves were caused by a sharp slide in the Turkish lira. But in recent years, volatility has tended to hit U.S. stocks at the height of vacation season.

    Since 1950, August has had the second worst monthly performance behind September, according to LPL Financial . Over the past two decades, the index has fallen 1% on average in August, giving it the worst monthly performance.

    In 2015, fears about China's weakening currency spread around the world , hammering the U.S. market. The Dow industrials briefly sank more than 1,000 points in the first six minutes of trading on August 24, at the time the largest-ever intraday point decline.

    In August of 2011, markets recoiled after S&P downgraded the U.S. credit rating. In 1998, the hedge fund Long-Term Capital Management blew up. In 1990, Iraq invaded Kuwait.

    Such events inject volatility into the stock markets at a time when trading volume is light because traders and investors are away from their desks. On Thursday, U.S. composite stock market volume was the lowest since mid-July, and the 15th smallest of the year. On Friday, composite trading volume was higher, though still below the year's average.

    "These events catch us off guard because a lot of people are on vacation and you think it's calm but then it's not," said Ryan Detrick, senior market strategist at LPL Financial.

    All told, when the market falls in August, it has averaged a loss of 4.5%, the worst average among the 12 months, according to LPL Financial . Friday's losses pared the S&P 500's rise in August to 0.6%.

    The moves disrupted a stretch of calm during the height of summer vacation season. Tuesday and Wednesday had featured the S&P 500's smallest two-day swing of 2018 between intraday highs and lows, according to Dow Jones Market Data. Wednesday and Thursday had the second-smallest swing. Until Friday, it had been eight sessions since the index had a one-day move up or down of greater than 0.5%.

    To be sure, the outlook isn't purely negative. The market has had a strong three-month stretch, with the S&P 500 rising 4.1%. The index still sits just 1.4% from its record high in January, and little suggests an immediate return to the extreme volatility of earlier this year.

    The events unfolding in Turkey, though boding poorly for that nation's financial health, aren't expected to have a continued heavy impact on U.S. markets. Still, various potential market threats could continue to inject volatility into stocks, from the escalating trade dispute between the U.S. and China to the growing risks for tech giants that have underpinned the index's rise.

    All of this comes at a time when the S&P 500 is trading at a higher price relative to recent earnings than its historical average. That's left markets exposed to sudden shocks.

    Write to Ben Eisen at ben.eisen@wsj.com

    https://www.wsj.com/articles/dont-co...ise-1533902402

  19. #99
    Holger Zschaepitzþ @Schuldensuehner · 9h9 hours ago

    As #Turkey crisis deepens, bankers to review impact of shocks. Biggest currency shock for lira since 2001 rattles investors. Turkish market plunge has started to stoke fears of contagion.
    https://www.bloomberg.com/news/artic...mergency-talks
    Attached Images

  20. #100
    Erdogan says U.S. turned its back on Turkey, upsetting Ankara

    Reuters Staff
    August 11, 2018 / 10:12 AM / Updated 8 hours ago

    ISTANBUL (Reuters) - The United States has turned its back on its NATO ally Turkey over a Christian American pastor and such treatment has annoyed and upset Ankara, Turkish President Tayyip Erdogan said on Saturday.

    “If the U.S. is turning its back on us...choosing a pastor instead, sorry...we continue our path with decisive steps,” Erdogan told a crowd of supporters in Black Sea coastal city of Rize. “This treatment by America of its strategic partner has annoyed us, it has upset us.”

    The two governments have been at odds over a wide range of topics - from diverging interests in Syria, to Turkey’s ambition to buy Russian defence systems and the case of evangelical pastor Andrew Brunson, who is on trial in Turkey on terrorism charges.

    Reporting by Humeyra Pamuk; editing by David Stamp


    https://uk.reuters.com/article/uk-tu...-idUKKBN1KW0BR

  21. #101
    Hürriyet Daily News‏Verified account @HDNER · 4h4 hours ago

    In response to US sanctions, Turkish municipality says it cancels its digital ads running on Facebook, Google


    Hürriyet Daily News‏Verified account @HDNER · 5h5 hours ago

    Turkey blasts 'irresponsible' remarks by Greek minister http://hry.yt/gwmUe

  22. #102
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    In response to US sanctions, Turkish municipality says it cancels its digital ads running on Facebook, Google
    Oh, that hurts.

  23. #103
    Quote Originally Posted by hiwall View Post
    Oh, that hurts.
    Two things to think about..


    China may enter Syria to clean up pockets of resistance.....AND China is Turkey's biggest partner...

    The axis is RUSSIA ..TURKEY...INDIA...IRAN
    AND CHINA.
    Sow the Wind....Reap the Whirlwind

  24. #104
    Quote Originally Posted by doctor_fungcool View Post
    Two things to think about..


    China may enter Syria to clean up pockets of resistance.....AND China is Turkey's biggest partner...

    The axis is RUSSIA ..TURKEY...INDIA...IRAN

    AND CHINA.
    Doctor Fungcool,

    There is a rumor of China leasing Incirlik airbase

    Philip C. Price‏ @PhilipCPrice · Aug 10

    Prediction of unintended consequence - China's long term lease of Incirlik airbase, Chinese aircraft flying manuvers over Mediterranian


  25. #105
    Quote Originally Posted by northern watch View Post
    Doctor Fungcool,

    There is a rumor of China leasing Incirlik airbase

    Philip C. Price‏ @PhilipCPrice · Aug 10

    Prediction of unintended consequence - China's long term lease of Incirlik airbase, Chinese aircraft flying manuvers over Mediterranian

    Also Russia provides petrol to Turkey via an underwater pipeline......fit the puzzle pieces together....it's disheartening.
    Sow the Wind....Reap the Whirlwind

  26. #106
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    Doc, I think I'd pull india out of that axis for a couple reasons. India and china aren't going to be doing SQUAT together.


    Aslo poretty sure there ain't a lot of love lost between Iran and India.

    PLUS our DoD Contract companies are doing a LOT of ongoing work with India.
    RULE 1:
    THEY want you DEAD.


    Athens, Tenn.
    Remember WHY?

    Word to the wise:

    "All skill is in vain when an Angel pees in the touch-hole of your musket!"

  27. #107
    I would add Pakistan to the Axis

    Pakistan military officers to get training in Russia

    By The Associated Press
    ISLAMABAD — August 11, 2018, 12:19 PM ET

    Pakistani military officers will receive training in Russian Federation military institutes under a recent agreement signed by Pakistan and Russia.

    The deal underscores Pakistan's increasing reliance on Russia for its military needs amid strained relations with the U.S
    . It was signed earlier this week during a visit by Russian Deputy Defense Minister Col. Gen. Alexander Fomin.

    The deal comes as local media reported the U.S. has stopped financing military training in the U.S. for Pakistani soldiers - a step that Pakistani Sen. Mushahid Hussain called "wrong and counterproductive."

    Hussain, chairman of the Foreign Affairs committee, said the U.S. is repeating past mistakes through failed policy of trying to bully and browbeat Pakistan with such shortsighted sanctions.

    Media have reported that 66 training slots for Pakistani military officers in U.S. facilities are being abolished.

    https://abcnews.go.com/International...ussia-57142473

  28. #108
    In the end, according to the Bible Turkey, Russia and Iran come against Israel. There is no mention of the U.S. being there to help Israel.

  29. #109
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    Jared Kushner, being Jewish would undoubtedly influence Trump to stand by Israel. Trump is also tight with Netanyahu. I've read several clips saying that Israel expects us to fight its wars.
    Just sayin'.

  30. #110
    Erodan is a total communist dictator. Turkey is toast. The guy Erodan has been flaky for years, it is surprising any nation has done business with them. Now so many countries are deep into financing them through bonds. Bad Investment.

    Turkey had a chance at greatness a few years ago, and They will get what they deserve. They keep a madman in charge.

  31. #111
    I'm with "northern watch" on India, and China.

    They hate each other. An Indian company (Dunlop) wanted to buy Cooper, and the plant Cooper ….partnered/owned (?) in China walked off the job and won't go back to work until the deal fell through.

    Also on the religious side a personal opinion: Even though Trump seems to be a strong partner of Israel, which I think is a good thing, what is predicted, and can easily develop as noted in 2 previous wars, is that war can break out in the ME so quick, and so fast, the US doesn't have time to react. It took us 3 month to get enough stuff in the ME to invade Iraq. Which may, or may not be, the reason for our lack of involvement.

    'Course a good war would stir national sentiment, and propel the "buy war bonds". Thus helping the economy. Just saying, and speculating.

  32. #112
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    Is it kind of ironic that the subject of Gulen, the Turk that Erdogan was demanding we turn over to Turkey is not even mentioned? As far as I know, Gulen is still in the States, with his numerous charter schools teaching about Islam. Please set me straight, if that is no longer true.

  33. #113
    Quote Originally Posted by doctor_fungcool View Post
    Two things to think about..


    China may enter Syria to clean up pockets of resistance.....AND China is Turkey's biggest partner...

    The axis is RUSSIA ..TURKEY...INDIA...IRAN
    AND CHINA.


    This speaks volumes. It tells me that the only reason Turkey remains in NATO is to be privy to enemy intel and plans. That needs to change.
    No one ever rescues an old dog. They lay in a cage until they die. PLEASE save one. None of us wants to die cold and alone... --Dennis Olson

    Mo is my One.

  34. #114
    Quote Originally Posted by northern watch View Post
    Is there a carrier in the Med?

    NW
    Just checked the Navy site. No, not at this time. Nothing near Turkey and nothing in the Bosphorus, either.
    No one ever rescues an old dog. They lay in a cage until they die. PLEASE save one. None of us wants to die cold and alone... --Dennis Olson

    Mo is my One.

  35. #115
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    I thought Russia had a pipeline Turkey into Europe.

    http://sweetcrudereports.com/2018/06...ough-bulgaria/


    Russia considers running Turkish Stream Gas pipeline through Bulgaria
    June 3, 2018

    *Turkish Streamline through Bulgaria.

    03 June 2018, Moscow — Following talks with Bulgarian Prime Minister Boyko Borisov, Russian President Vladimir Putin said that Gazprom was “working out in practical terms” the construction of a second gas line stretching from Turkey to Bulgaria for Turkish Stream, which is intended for the transit of Russian gas through Turkey to the countries of Southeast Europe, reported the newspaper Kommersant.

    Initially, Gazprom was considering two routes – one through Greece to southern Italy (nicknamed the Poseidon project), the other through Bulgaria to Serbia and Hungary.

    It was after a decision by Bulgaria that the South Stream project was cancelled in December 2014.

    “I understand and see that the Bulgarian side regrets the breakdown of the South Stream project because no one doubts that its implementation would have been very beneficial to Bulgaria,” Putin said.

    He noted that he “has always” discussed with the Turkish authorities the possibility of securing a second Turkish Streamline through Bulgaria and that “yesterday, Turkish President Erdogan confirmed this again during our phone conversation.”

    “We are working it out in practical terms with Turkish friends, with Bulgarian friends – I know that certain transport capacities are being built on the territory of Bulgaria. To what extent [and] at what prices…economic entities should already be determining this because there are many purely commercial [and] economic issues that should be attributed to their competence, “Putin said.

    Boyko Borisov, for his part, thanked Vladimir Putin for the fact that he “has no ill will” regarding the lost revenues with the South Stream. Putin stated that Russia wants guarantees from Bulgaria.

    “We understand, and the Bulgarian side understands this perfectly well, that guarantees are needed when implementing projects on a large scale; most notably financial guarantees, which could be expressed either as sovereign guarantees by the Bulgarian government or in relevant decisions by the European Commission. Another thing: everyone understands that nobody wants a repeat of some kind of breakdown; everyone, on the contrary, wants to go forward, “he said.

    According to the publication, Russia sees investment in the development of the Bulgarian gas pipeline network as a guarantee for the acceptance of Turkish Stream gas and its further delivery to Serbia.

    Russia had planned to build the South Stream gas pipeline, which would have delivered natural gas to the Bulgarian city of Varna. In December 2014, however, Moscow curtailed work on the project because of the position of the European Union.

    Instead of the South Stream project, Russia instead focused on a separate gas pipeline project with Turkey called Turkish Stream. The Turkish Stream’s first line is planned for commissioning in 2018; the second, which it is intended to supply the countries of South and South-Eastern Europe, is expected to enter operation in 2019.
    "During times of universal deceit, telling the truth becomes a revolutionary act." George Orwell

  36. #116
    Join Date
    May 2001
    Location
    S.W. Mich. near South Bend, IN
    Posts
    5,702
    This doesn't sound good....I notice there is no actual date on the article, just that it said two days ago. This was a new article on the website I found it on, tho.....just today, 8-12-18.

    https://www.airforcetimes.com/news/y...orce-officers/

    Turkish lawyers want to raid İncirlik Air Base and arrest U.S. Air Force officers
    By: Kyle Rempfer   2 days ago

    A group of pro-government Turkish lawyers have reportedly filed charges against U.S. Air Force officers associated with İncirlik Air Base based on allegations that they are connected to a movement that attempted a coup d'état against Turkey’s government in July 2016.

    The lawyers are seeking a temporary halt to all flights leaving Incirlik Air Base — an important staging point for combat operations against the Islamic State group — and access to the base via a search warrant, according to court documents unearthed by the Stockholm Center for Freedom, a group of exiled Turkish journalists.

    With many of their Turkish counterparts now gone, Air Force leaders look to establish new ties.
    By: Oriana Pawlyk

    The papers were filed at the chief public prosecutor’s office in Adana, where İncirlik is located. The lawyers who submitted the request are from the Association for Social Justice and Aid, which the exiled Turkish journalists described as a non-governmental organization fronting for senior Turkish officials.

    The lawyers also asked in their petition for the “arrest of the commanders of the U.S. Air Force who are the superiors of the soldiers based at İncirlik and took a role in the failed coup attempt on July 15, 2016,” according to the documents.

    U.S. officials did not provide comment on what, if any, actions were planned to deal with the charges, but did deny that the U.S. government was involved in the attempted coup.

    “Any reports that U.S. government or military personnel had any previous knowledge or involvement in a Turkey coup attempt are baseless and completely false,” Mark Mackowiak, a U.S. European Command spokesman, told Air Force Times.

    “We value the strong, mil-to-mil relationship and partnerships we have with our Turkish counterparts and continue to carry out our important mission at Incirlik," he added.
    US considering permanent cutbacks at Incirlik Air Base in Turkey

    Friction between the United States and Turkey may be manifesting in scaled back operations from the strategic Incirlik Air Base in southern Turkey.
    By: Kyle Rempfer

    The 60-page criminal complaint specifically names Col. John C. Walker, Col. Michael H. Manion, Col. David Eaglen, Col. David Trucksa, Lt. Col. Timothy J. Cook, Lt. Col. Mack R. Coker, Sgt. Thomas S. Cooper, Sgt. Vegas M. Clark and others deployed to İncirlik Base, asking for their detention.

    However, those "individuals mentioned are not currently stationed at Incirlik,” Mackowiak said.

    The report by the exiled journalists cites a tit-for-tat sanction dispute between the Trump administration and Turkish President Recep Tayyip Erdoğan as a possible cause of the charges.

    The U.S. imposed economic sanctions on Turkey’s interior and justice ministers last week for their role in the detention of an American pastor also accused of involvement in the coup attempt.

  37. #117
    Join Date
    Feb 2012
    Location
    Northeast Wisconsin
    Posts
    3,631
    Turkish Lira down 30% verses the USD in the first few minutes of trading

  38. #118
    Quote Originally Posted by Warm Wisconsin View Post
    Turkish Lira down 30% verses the USD in the first few minutes of trading
    WoWsa

  39. #119
    Join Date
    May 2001
    Location
    In CLE again
    Posts
    53,424
    So, Doc, since this is my 4th comp in 3 months, I've lost all my source site links.

    So I gots nuttin.

    You set us up and leave us hanging??

    'tis HIGHLY unlike you to deal in Blue Balls, guy.
    RULE 1:
    THEY want you DEAD.


    Athens, Tenn.
    Remember WHY?

    Word to the wise:

    "All skill is in vain when an Angel pees in the touch-hole of your musket!"

  40. #120
    Join Date
    May 2004
    Location
    AL
    Posts
    49,719
    Gregor Peter
    ‏ @L0gg0l
    2h2 hours ago

    As far as I read Erdogan's and Albayrak (his son-in-law) statements today, not much will change in Turkey as long as people don't begin to rush into banks to get their money and hell breaks loose in the streets of Istanbul or Ankara


    Steve Herman
    ‏Verified account @W7VOA
    45m45 minutes ago

    Steve Herman Retweeted Hürriyet Gündem

    #Turkey government says it has drafted an action plan that'll be implemented from tomorrow to ease investor concern,

    Steve Herman added,
    Hürriyet Gündem
    Verified account @huryazarlar
    Cumhurbaşkanlığı'ndan açıklama: Ekonomimiz güçlüdür, bu savaşı biz kazanacağız http://hry.yt/Jkl4f

    Gregor Peter
    ‏ @L0gg0l
    29m29 minutes ago

    TURKEY'S BDDK ANNOUNCES FX RESTRICTIONS ON SPOT, SWAP AND FORWARD TRANSACTIONS #CapitalControls


    Gregor Peter
    ‏ @L0gg0l
    20m20 minutes ago

    TURKEY'S GARANTI BANK INFORMS CUSTOMERS OF SUSPENSION IN CHANGING LIRA TO USD, EUR, GBP (via @evrenselgzt)



    Gregor Peter
    ‏ @L0gg0l
    13m13 minutes ago

    #Breaking In apparent sign of beginning capital controls, Turkey's second largest bank Garanti has informed clients of FX suspension in USD, EUR and GBP. Only open positions can be closed



    Gregor Peter
    ‏ @L0gg0l
    7m7 minutes ago

    TURKEY'S ALBYARAK HAS VISITED KUWAIT SUNDAY, AL-ANBA NEWS SAYS
    Nana to two "little bits", one not-so-little "little bit" and one 6' college bound "little bit"

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