Exchange Rate

Maybe capital controls will be adopted. Let’s see what tomorrow brings, whatever it will be interesting reading...
Sexygirl, i think Capital Controls is a bridge too far even for this administration, Turkey is not Venezuela. I would watch the Borsa and this “Dudes trades”, they spent $105,000,000 on some very interesting companies today, from Steel to Petrochem to Defence, all very important companies for future business here. My bet is this spat will be fixed and while i do not see a return to 3/$ anytime soon, i think we will get stability again. It cannot contimue as it is for much longer, like a boil something has got to give and soon.
 
Sexygirl, i think Capital Controls is a bridge too far even for this administration, Turkey is not Venezuela. I would watch the Borsa and this “Dudes trades”, they spent $105,000,000 on some very interesting companies today, from Steel to Petrochem to Defence, all very important companies for future business here. My bet is this spat will be fixed and while i do not see a return to 3/$ anytime soon, i think we will get stability again. It cannot contimue as it is for much longer, like a boil something has got to give and soon.
Who’s the dude? I have my suspicions .. bet his money is in a foreign bank account and while he lives the life of Reily meanwhile the ordinary man on the street suffers!
 
Yes but at 6:20 am there was a big spike. Stg hit 8.27 & euro hit 7.17 so we did arrive at 7s & 8s with a pull back.
Re Da Dude - I wonder how Qatar thanked Turkey for the recent help?
Funnily enough the same dude was active just before the 2016 coup, makes you wonder ;);)
 
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soh

Connoisseur
Funnily enough the same dude was active just before the June election... makes you wonder ;);)
IMO all markets are, to a lesser or greater degree, manipulated by their governments. after all who keeps buying U.S bonds at a rate that suppresses the yield but benefits the market so greatly? all are way overvalued as is the $
 
From what I can glean if we hit USD 7:1 its a bust with local banks insolvent. https://www.zerohedge.com/news/2018...lodes-panicked-sellers-spark-global-contagion
14:30 GMT, Euro @ 7.70 & Stg @ 8.64 - USD @ 6.63 now in final range galloping to 7 - THIS IS SERIOUS NOW. IS Bank forecast one of fist to go.
Would advise people to get some hard cash out of ATMs asasp. Rates changing as I type. GLA!
I call euro @ 8s, stg @ 9s & USD @ 7, - IMF time.
I keep editing rates as they keep changing.

B
 
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soh

Connoisseur
could hit that sooner rather than later. just popped out for an hour at 7.54, just seen 8.12 then straight to 8.17/£1. off and running again just as U.Smarkets open.
less than 2 mins and up to 8.30, this could be a massive disaster for Turkey. lots of talk of it becoming the next Venezuela.
 
I think the contagon is the problem now hitting markets as well. Steve Eisman ((of The Big Short fame) certainly called these two banks right. Uni-Credit even halted trading for a while today. When will these European bank learn, Greece, Cyprus, Spain, Ireland ((dare i say it) and now it looks like they will be burned big time here.

Steve Eisman got those calls right. Both banks beaten up today.

Eisman Says He's Short BBVA, UniCredit on Turkey Exposure
https://www.bloomberg.com/news/vide...short-bbva-unicredit-on-turkey-exposure-video
 
The Banks are obviouly freeting, they are close to the line and must feel they are between the devil and the deep blue sea right now.
This caught mybattention though, the big players who can are moving their assets and cash offshore. Wow.
With the Lira at record lows amid its biggest single-day drop since Feb 2001's crisis (when groups owning bank, media and holding companies jointly notoriously precipitated the domestic financial crisis by stashing away the home deposits in their offshore branches),
 
Yes Thomas I’m surprised the banks have not acted sooner, but I suspect their hands are tied. Now that the Euro banks are making noises they are running scared.. don’t you think?
European Banks could be exposed to €200B of risk, that has got their attention and you saw the piece on Steve Eisman shorting two of them. I hope it settles down on Monday for everyones sake, but i fear it might be “wishful thinking”. The repercussions of this will not be felt next week, the reprecussions are 3,6,9,12 months and years
away.
The Financial crisis hit Ireland in 2006, even today 12 years later Irish banks have over €20B of NPL’s on their books. Financial crisis is not a head cold, more a triple bypass with complications. Just my opinion.

As the Dude would say from that all time classic The Big Lebowski. “Thats your opinion man”
 
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