QUESTION: Mr. Armstrong; I’m not sure if you remember me. I was with the Islamic bank that our board ordered we were to open a branch in Turkey and we turned to you to create a hedge since the Turkish lira was not a tradable market. You saved the bank a fortune and I think […]

The Double Earthquake that hit Turkey & Syria has been extraordinary. The first quake was a 7.8 magnitude sticking in southeastern Turkey and northwestern Syria early Monday morning local time. Then 9 hours later, a second quake, which recorded a magnitude of 7.5, struck hard. Both countries have witnessed the devastating aftermath as rescue workers on […]

Another January 6th, 2022 important geopolitical event was the rising tension between Turkey and Greece. There has been an arms race between the two which escalated going into the end of 2021. Turkey intensified the arms race when it asked Biden to buy 40 F-16 fighter jets to upgrade its Air Force. The move coincides […]

I have been warning that governments will do whatever they like as we enter this last 13 years phase into 2032 when this all just collapses. Turkey has seized 25% of all income of exporters in foreign currency reserves requiring them to be converted to lira to boost Turkey’s foreign reserves. I have been warning […]

The Treasury and Finance Ministry of Turkey announced that the country’s net external debt stock totaled $286.2 billion going into the end of the 3rd quarter of 2018. The country’s net external debt stock to its gross domestic product (GDP) ratio was 34.4% at the end of the third quarter of 2018. However, Turkey’s gross external […]

Turkish President Recep Tayyip Erdogan and his Justice and Development Party (AKP) have won every vote since the party first came to power in 2002, but this time, the party had risked losing Ankara and faced a tough fight in Istanbul. Erdogan’s AKP appeared destined for defeat in the capital Ankara and faced a dead heat […]

Since the beginning of the year, the Turkish currency has lost more than a third of its value against the dollar. As the currency declines, imports rise in cost since they are denominated in foreign currency.  This adds to the inflation problem domestically. Among other things, the sharp criticism of Erdoğan in the markets has cast doubt on the independence […]

Just when you thought President Recep Tayyip Erdogan was really off the reservation, he suddenly appears off the planet. Erdogan has appointed HIMSELF as chairman of Turkey’s Sovereign Wealth Fund and got rid of the entire management staff. It looks like Erdogan now thinks he can force the free market to do as he commands if he […]

The rumors running around is that Turkey will default as Erdogan decides to move to align with Iran and Russia and leave the West behind. While there have been speculative attacks on the Turkish economy and US tariffs and sanctions have been detrimental, the initial causes of this growing monetary problem are really all internal. Erdogan’s management of […]

Erdogan refuses to release the American “Pastor Brunson” and instead he is turning to everyone else offering now to open direct investment in Turkey. This is not simply about Brunson. Erdogan has refused to comply with the USA measures against Iran and has stated it will continue to import Iranian oil. Erdogan has NEVER been […]