Via Zerohedge (https://www.zerohedge.com/markets/turkey-hit-bank-runs-currency-panic-locals-sell-their-cars-and-houses-buy-gold-while-lira)…
It has been an miserable five years for Turkish citizens who have seen their purchasing power slashed by more than half, and it’s only getting worse.
The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the delivery of Russian S400 systems to Turkey.
On July 12th, Turkey received the first shipment of the Russian S-400 air defense systems. Since then, cargo flights from Russia have been arriving on Mürted Air Base in the capital Ankara.
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According to Zerohedge, just when you thought Turkey’s moment of agony couldn’t get any worse, it got much worse, when watching the collapse of the Turkish Lira and sensing perhaps that Erdogan’s end is near, President Donald Trump blindsided the NATO member state with a tweet, announcing that he is doubling Turkey’s steel and aluminum tariffs to 50% and 20%, respectively. Why?
(AE) – As soon as Erdogan stopped obeying the orders dictated to him by NATO’s Supreme Commander he was immediately subjected to Western orchestrated demonstrations, EU threats, Turkey’s EU membership blocked, a corruption probe, and most recently an economic attack on the Turkish Lira.
