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USD/TRY

  • #1,581
  • Dec 10, 2021 12:54am Dec 10, 2021 12:54am
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  • #1,582
  • Dec 11, 2021 11:58am Dec 11, 2021 11:58am
End of trading -- Fri. Dec. 10/2021.

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,583
  • Edited 12:39pm Dec 11, 2021 12:27pm | Edited 12:39pm
Quoting bigiivan
{image}
Dont rely on chart logic for this pair. This is an act of political terrorism. The CIA failed to take him out in 2016. They cannot do another Iraq, Syria or Libya on Turkey because they know it will be their Armageddon and Turkey is a member of NATO. Dont know how much that means as Central Bank Digital Currencies are currently challenging the Global USD Federal Reserve System. So they use their home grown terrorist organisations like Moodys, S&P 500 or the FX Markets to incite social unrest. Inflation is a ghost. It is a temporary phenomenon. Inflation will fall in 2022. Erdogan knows this, he wont fall for the trap. Why do you think the ECB and the FED waffle around raising rates. There wont be any interest raises, neither by the FED nor the ECB. Maybe a little token raise by the Fed to keep the narrative alive. They cant fool Erdogan.
  • #1,584
  • Dec 13, 2021 8:21pm Dec 13, 2021 8:21pm
Monday, Dec. 13.

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,585
  • Dec 13, 2021 10:25pm Dec 13, 2021 10:25pm
You Boys and Girls all billionaires yet? This puppy has been better than those stupid coins lately....
  • #1,586
  • Dec 15, 2021 10:46am Dec 15, 2021 10:46am
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More updates to follow...
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,587
  • Dec 16, 2021 1:03am Dec 16, 2021 1:03am
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Wednesday, Dec. 15 (after trading).
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,588
  • Dec 16, 2021 10:09pm Dec 16, 2021 10:09pm
Thursday Dec 16:

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,589
  • Dec 18, 2021 5:42pm Dec 18, 2021 5:42pm
AFTER FRIDAY'S TRADING:

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,590
  • Dec 18, 2021 6:07pm Dec 18, 2021 6:07pm
Turkey's stock exchange plunged 9% on the day.

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,591
  • Dec 20, 2021 7:06pm Dec 20, 2021 7:06pm
The new tools bla bla is just total BS.

I have read what these tools are and government will just cover your losses if your TRYs loses it's value against USD. So they will kinda pay interest, but they won't stop giving loans with an interest rate that is way lower than the inflation. So Turkish Central Bank will cover your losses and pay interest, and if you want to take loans you will take them without worrying about the interest rate. Too good to be true right? Exactly, which is why it is nothing but bullsh*t.

So how exactly Turkish Central Bank (TCMB) will do that? Turkish people currently made 65% of their savings in USD. Let's say people sold their USDs and put TRY in their bank account like the government suggests. So if USD rises and TRY falls, TCMB must cover the losses of 65% of the total savings in Turkey. Which is crazy amount of money. So how TCMB will do that? By printing money. And when you print money, inflation will rise and TRY will lose more value, so the 65% of the total savings. And you will print more money and this will turn into an endless loop.

These new tools are even more dangerous.

This last drop in USDTRY won't last for too long. This is just a good buying opportunity.
You have to have an IQ higher than 90 to interact with this user.
  • #1,592
  • Dec 20, 2021 10:45pm Dec 20, 2021 10:45pm
Monday, Dec. 20.

Erdogan tries to alleviate the pain of impending inflation...

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,593
  • Dec 21, 2021 1:24pm Dec 21, 2021 1:24pm
Quoting Nordling00
The new tools bla bla is just total BS. I have read what these tools are and government will just cover your losses if your TRYs loses it's value against USD. So they will kinda pay interest, but they won't stop giving loans with an interest rate that is way lower than the inflation. So Turkish Central Bank will cover your losses and pay interest, and if you want to take loans you will take them without worrying about the interest rate. Too good to be true right? Exactly, which is why it is nothing but bullsh*t. So how exactly Turkish Central Bank...
I think you're wrong. I am not defending the current economic policy but It can help the currency exchanges. You said it yourself ''Turkish people currently made 65% of their savings in USD''. That's why the difference in deposits will be paid. I think new economic decision is a great call. Currency exchanges will stop the rise after this decision and maybe will stay like that. We never know. Let's look at the following days.

Sorry for my bad english. I'm just starting to learn.
Madem turksun,goster urksun
  • #1,594
  • Dec 21, 2021 8:46pm Dec 21, 2021 8:46pm
Tuesday Dec. 21.

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The pullback for the USD/TRY continues...
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,595
  • Dec 22, 2021 3:13am Dec 22, 2021 3:13am
Quoting Druj
{quote} I think you're wrong. I am not defending the current economic policy but It can help the currency exchanges. You said it yourself ''Turkish people currently made 65% of their savings in USD''. That's why the difference in deposits will be paid. I think new economic decision is a great call. Currency exchanges will stop the rise after this decision and maybe will stay like that. We never know. Let's look at the following days. Sorry for my bad english. I'm just starting to learn.
It's alright mate my English is not so great either.

It's not a great call, because now TCMB guarantees our losses. But who will guarantee TCMB's losess?

Let's say you have 100k liras in your bank account. And let's say USDTRY went up 10%. TCMB has to pay you that 10% difference so you will get 10k liras for your 100k and in the end you will have 110k liras.

TCMB will owe you 10k, it will owe me 20k and even 500k, 1m, 2m to others depending on the size of their capital. We are talking about the 65% of the total saving of Turkish people here. TCMB will owe too much money, way more than the taxes etc.

In the end, TCMB will only have one choice. Which is printing money and paying people those debts. And printing more money will only end up increasing the inflation. We already have 50% inflation, this "solution" will take it to the higher levels.

This system is nothing new, this system have been tried in 1970s and it failed miserably.

Here, i would suggest you to read this article:

https://tr.euronews.com/2021/12/21/d...r-ne-oldu?s=09
You have to have an IQ higher than 90 to interact with this user.
  • #1,596
  • Dec 22, 2021 8:57pm Dec 22, 2021 8:57pm
Wednesday, Dec. 22.

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HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,597
  • Dec 23, 2021 2:45am Dec 23, 2021 2:45am
Quoting bigiivan
{image}
Wonderful!
More than 2 liras per dollar.
... And ecpecting for more.
  • #1,598
  • Dec 23, 2021 8:49pm Dec 23, 2021 8:49pm
Thurs. Dec. 23/2021.

What a difference a policy decision makes!

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Of course, there may be other decisions going on behind the scenes,
and those may be strengthening the lira's overall position.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #1,599
  • Dec 24, 2021 3:21am Dec 24, 2021 3:21am
Quoting Nordling00
{quote} It's alright mate my English is not so great either. It's not a great call, because now TCMB guarantees our losses. But who will guarantee TCMB's losess? Let's say you have 100k liras in your bank account. And let's say USDTRY went up 10%. TCMB has to pay you that 10% difference so you will get 10k liras for your 100k and in the end you will have 110k liras. TCMB will owe you 10k, it will owe me 20k and even 500k, 1m, 2m to others depending on the size of their capital. We are talking about the 65% of the total saving of Turkish people here....
Maybe you're right. I was wrong but at least we have 3 good months ahead of us. The new system has brought us relief maybe not. Time will show us.
Madem turksun,goster urksun
  • #1,600
  • Edited Dec 25, 2021 7:34pm Dec 24, 2021 11:49pm | Edited Dec 25, 2021 7:34pm
Christmas Eve.

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Merry Christmas to traders all over the board!
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
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