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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Wed Aug 19, 2015 3:06 pm

    Is your 'n' key broken?
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    George1

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    Re: World Economic News and Discussion

    Post  George1 on Thu Aug 20, 2015 5:44 pm

    Kazakhstan president asks national exporters for currency

    Kazakhstan is shifting to a new economic policy, which implies free floating national currency defined by market demand

    ASTANA, August 20 /TASS/. Kazakhstan's President Nursultan Nazarbayev has urged national exporters to provide the republic with currency earnings.

    "I am urging all our exporters to provide the country with currency earnings. All this will certainly lie on the government. All currency earnings should be sold inside the country if possible. I am asking the government to coordinate this work," Nazarbayev said at a meeting with the Kazakhstani business community on Thursday.

    The president also urged the government to give up the policy of supporting all enterprises. "Millions of farmers go bankrupt in the United States. In this county, bankruptcy turns into bureaucratic foot-dragging while enterprises stand at a standstill. The government should give up its policy of indiscriminate support of all enterprises," Nazarbayev told the businessmen.

    He explained that the state should support only competitive and profit-making companies.

    The president ordered the National Bank to introduce a mechanism of compensation of individual’s fixed deposits. "This measure will help supporting 1.7 million people and 86% of all the depositors. We cannot allow the social feeling to deteriorate and should prevent a decline in people’s living standards," the Kazakhstani leader said.

    He added that the current financial crisis was worse than the previous financial turmoil.

    "When the financial crisis that started at US banks hit the financial system, we faced a crisis from which we had emerged with minor losses," the Kazakhstani president said. "But the present-day realities are different. They cover everything, including the finances and industry, and who knows what is in store for us. No expert can really say that," Nazarbayev said.

    He also warned the forthcoming years could be hard and promised to punish all saboteurs who would like to use the current hardships to destabilize the situation in Kazakhstan.

    "The law enforcers have received an instruction to stop any provocative actions," Nazarbayev stressed.

    "They have only themselves to blame. We are doing it conscientiously for the well-being of our citizens and the country’s prosperity," the Kazakhstani president concluded.

    Kazakhstan shifting to new economic policy

    Kazakhstan is shifting to a new economic policy, which implies free floating national currency defined by market demand, Prime Minister Karim Masimov said on Thursday.

    "Starting from August 20 of the current year, a decision has been made to begin implementing a new economic policy based on inflation targeting, and cancel exchange rate corridor. The tenge’s exchange rate will now depend on the global economic environment," PM said. "The new economic policy amid fundamental negative changes in the global economy requires a new monetary policy to provide a balance between economic growth and stability of prices," he added.

    The dollar surged by 29.2% in Kazakhstan on Thursday to 255.8 tenge versus 197.9 tenge the bay before.

    The free floating national currency increases the potential of Kazakh enterprises on the market of the Eurasian Economic Union (EAEU), Minister of National Economy Erbolat Dossayev told TASS on Thursday.

    "For Kazakhstan’s economy, for Kazakh producers of goods and services the shift to a new exchange rate policy opens up markets. I can say that Russia and China are the main markets where we may be competitive today," the Minister said. "We have the same economic structure as the Russian Federation, both countries are now oriented toward export when the bulk of revenues depend on export of commodities," he said, adding that integration into global economy brings both pluses and minuses to the country, and the key task for the EAEU member-states is "accelerated diversification of economy."

    The government of Kazakhstan plans to introduce a number of tax breaks for oil and gas producers in the nearest months. "In September, a decision will be taken on pegging export tariff duty to oil price, and the Government will stop directive regulation," Masimov said.


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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Fri Aug 21, 2015 6:53 am

    Kazakhstan president asks national exporters for currency

    Big news for Kazakhstan
    Kazakhstan moves to a free float tenge — premier

    What essentially happened was Kazakhstan's Tenge was considered over valued and due to Russia's rouble being tied to oil, and devalued, caused a stir in various companies; particularly Kazakhstan's largest metallurgy company was apparently losing huge market due to large imports of cheaper steel from Russia.  So the cheaper Tenge will mean that Kazakhstan's economy will be far more competitive in the EEU and China.  So in theory, it would mean even cheaper foods and products coming from Kazakhstan to Russia.

    Various experts are worried that this will in turn flood Russia with cheaper Kazakhstani goods and then reassure that due to trade turnover between the two countries is low, so not to threat. But I am on the opposite side of this. I think this will drastically increase trade turnover between the two countries and while the Tenge's devaluation would mean it is more expensive for Russian goods, overall, the currencies change are not that huge, thus still far cheaper to buy Russian goods in Kazakhstan. In turn, it would also mean that Kazakhstan's goods would also be cheaper and could help in Russia's growth for consumption.
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    George1

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    Re: World Economic News and Discussion

    Post  George1 on Fri Sep 18, 2015 1:06 am

    Bottomed Out: Investors Return to Asian Markets Attracted by Cheaper Assets

    After a wave of currency devaluations, reminiscent of the 1997 crisis, several Asian nations have quickly regained their investment appeal, unlike many other emerging nations, struggling amid policy inefficiency and trade recession.

    Kristian Rouz – Amidst the financial turbulence in most emerging markets, their respective national currencies have depreciated significantly during the past several months due to investors’ exodus to the safer assets of the US, Japan and the Eurozone.

    While the uncertainty of mainland China’s growth and the shrinking export potential of industrial nations of Southeast Asia is still weighing on the region’s financial performance, select nations are starting to reap first benefits of their asset depreciation.

    Emerging markets with a more stable outlook, like Malaysia and Indonesia, are enjoying their improved investment appeal, possibly signaling an upcoming full-scale rebalancing in structure of industrial and financial development in the third world.

    Most Asian currencies have plunged amidst the anticipation of the US Federal Reserve’s interest rate hike, coupled with destabilizing effects of mainland China’s slowdown and decline of exports, most prominently, from both China and Vietnam.

    Some Asian currencies dropped to their 1998 lows, suggesting a crisis similar to the 1997 Asian meltdown might repeat itself amidst the lower oil prices and industrial overproduction.

    However, while a full-blown regional crisis still seems more of a far-fetched perspective, the currency devaluation might be a good thing.

    Both Malaysia’s ringgit and Indonesia’s rupiah are at their 1998 lows, mostly due to both nations’ dependence on oil exports. A general export decline has triggered a massive selloff in Asian assets recently, with both the People’s Bank of China (PBOC) and the State Bank of Vietnam (SBV) forced to devalue their currencies striving for their respective international competitiveness in industrial exports.

    The Vietnamese dong has dropped 5% in 2015 as the nation’s trade deficit rose to $300 mln in July due to slowing export activity. Vietnamese exports only added 9.5% in January through July 2015 compared to an increase of 14.5% for the same period last year.

    Mainland China’s renminbi was devalued by 4.4% in August, causing a shock to international markets, as the PBOC felt the urge to help shrinking exports as well. Chinese exports fell an annualized 8.3% in August.

    The Malaysian ringgit fell by some 30% in 2015, weighed on by the decline in value of exports as oil prices fell. Indonesia’s rupiah dropped roughly 20% for the same reasons. The situation in the developing Asian nations is drastically different than that in Japan: while Japanese exports slid 0.7% in shipped volume in July, their value actually rose by 7.6% due to the advanced hi-tech components prevailing in most of the nation’s industrial output.

    This is not another Asian crisis though: in 1997, the Malaysian currency crashed by 70%, while in Indonesia, the rupiah was devastated by a massive 448% devaluation.

    The fundamental outlook is a lot better for most of Southeast Asia now: seeking cheaper labor, multinational enterprises are moving their facilities there, including those evacuated from mainland China, where labor appreciated without any regard to the actual lack of technological self-sustainability.

    The depreciation in Southeast Asian currencies only makes things better for Malaysia and Indonesia: while labor has become even cheaper, material assets have depreciated as well, meaning a sharp cost reduction for those interested in doing their business in the region.

    Malaysia has enjoyed a trade surplus ever since 1998, having built up solid FX reserves. The situation is similar for Indonesia, whose FX reserves are 5 times larger those in 1998. In South Korea and Thailand, FX reserves have also risen since 17 years ago.

    Meanwhile, the external of in these particular four nations has decreased by 60%. Thus, Malaysian, South Korea, Indonesia and Thailand are now enjoying better bond ratings, making the business climate even more favorable.

    And as the US accelerates, the increased import of technology into the emerging industrial nations of Asia will eventually result in greater and better exports of manufactured goods to the global market from these nations. For now, Indonesia’s exports to the US rose 14% in August from July.

    According to US financial giant Morgan Stanley, the Indonesia rupiah and the Malaysian ringgit are the region’s most attractive investment assets: both are cheap, while the policies of their respective governments are sound and market-friendly, and their economies are industrializing rapidly, also having an oil-exporting backstop.

    As outlined in Morgan Stanley’s observation, Malaysian assets are now the cheapest, Indonesia comes second in the same rating. India is also attractive, finding itself in similar conditions: cheap workforce and inexpensive assets across all sectors of the economy.

    Meanwhile, the bank marked Turkey, South Africa and Brazil as most vulnerable in the current financial environment. In Turkey, labor costs are rather high, while South Africa suffers, as its mining is growing cost-expensive and less profitable, and Brazil is plagued by governmental and regulative inefficiency.

    Currently, the US Fed’s possible rate hike, expected on 17 September might trigger a short-lived selloff all across the emerging markets. However, a stabilization is likely within a matter of days in the most promising and investment-friendly markets of Southeast Asia.

    Meanwhile, the more vulnerable nations and those exposed to Chinese risks, are subject to lingering uncertainty, largely depending on further US growth, driving oil prices and determining the changing landscape of international trade.

    Read more: http://sputniknews.com/business/20150917/1027127416.html#ixzz3m2XbUA1q


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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Fri Oct 02, 2015 9:10 pm

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    Re: World Economic News and Discussion

    Post  magnumcromagnon on Fri Oct 02, 2015 9:19 pm

    Even Credit Suisse believes multi-polarity is inevitable:

    Credit Suisse – Is globalization coming to an end? New research signals a possible shift away from globalization to a multi-polar world

    The Credit Suisse Research Institute today released its “The End of Globalization or a More Multipolar World” report, presenting three scenarios: ‘globalization thrives,’ ‘a multipolar world emerges at economic, political and social levels’ and, more dramatically, ‘globalization comes to an end.’ The research signals a possible shift away from globalization to a multi-polar world.

    https://www.credit-suisse.com/ch/en/about-us/media/news/articles/media-releases/2015/09/en/credit-suisse-is-globalization-coming-to-an-end.html
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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Sat Oct 03, 2015 2:42 am

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    max steel

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    Re: World Economic News and Discussion

    Post  max steel on Thu Oct 08, 2015 9:06 pm

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    max steel

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    Re: World Economic News and Discussion

    Post  max steel on Thu Oct 08, 2015 10:36 pm

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    higurashihougi

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    Re: World Economic News and Discussion

    Post  higurashihougi on Sat Oct 10, 2015 5:16 am

    I never never accept TPP from the beginning, therefore I would like to give wikileaks and RT 100000 likes for this information.

    https://www.rt.com/usa/318146-tpp-wikileaks-intellectual-property/

    'TPP would cost lives': WikiLeaks unveils full intellectual property chapter
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    Werewolf

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    Re: World Economic News and Discussion

    Post  Werewolf on Sat Oct 10, 2015 6:14 am

    higurashihougi wrote:I never never accept TPP from the beginning, therefore I would like to give wikileaks and RT 100000 likes for this information.

    https://www.rt.com/usa/318146-tpp-wikileaks-intellectual-property/

    'TPP would cost lives': WikiLeaks unveils full intellectual property chapter

    A good comment right there

    "What is writen ink we can rewrite in blood"
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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Sat Oct 10, 2015 9:32 am

    TPP will benefit Vietnam way more than Canada. We are effectively screwed in Canada due to TPP. I figure the people who sign up for it are nothing but traitors.
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    Werewolf

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    Re: World Economic News and Discussion

    Post  Werewolf on Sat Oct 10, 2015 9:57 am

    sepheronx wrote:TPP will benefit Vietnam way more than Canada.  We are effectively screwed in Canada due to TPP.  I figure the people who sign up for it are nothing but traitors.

    TTIP won't benefit anyone but elites in US, it will open havoc to industries, health of population and minimum wage laws will be lifted sooner or later. Slave labour with genetic MSO genocide and pharmaindustry like in US were all hospitals are private and you pay 400-800 USD for 1 liter salty water for infusion.
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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Sat Oct 10, 2015 10:00 am

    Werewolf wrote:
    sepheronx wrote:TPP will benefit Vietnam way more than Canada.  We are effectively screwed in Canada due to TPP.  I figure the people who sign up for it are nothing but traitors.

    TTIP won't benefit anyone but elites in US, it will open havoc to industries, health of population and minimum wage laws will be lifted sooner or later. Slave labour with genetic MSO genocide and pharmaindustry like in US were all hospitals are private and you pay 400-800 USD for 1 liter salty water for infusion.

    I don't think it will pass all nations parliament. But there is a chance that it might. I wonder if people will end up going to the streets? Doubt it, as people are pretty damn lazy.
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    Re: World Economic News and Discussion

    Post  Werewolf on Sat Oct 10, 2015 10:33 am

    sepheronx wrote:
    Werewolf wrote:
    sepheronx wrote:TPP will benefit Vietnam way more than Canada.  We are effectively screwed in Canada due to TPP.  I figure the people who sign up for it are nothing but traitors.

    TTIP won't benefit anyone but elites in US, it will open havoc to industries, health of population and minimum wage laws will be lifted sooner or later. Slave labour with genetic MSO genocide and pharmaindustry like in US were all hospitals are private and you pay 400-800 USD for 1 liter salty water for infusion.

    I don't think it will pass all nations parliament.  But there is a chance that it might.  I wonder if people will end up going to the streets?  Doubt it, as people are pretty damn lazy.

    Haha, with the current flood of immigrants on US behalf, the entire TTIP will be pressed through regardless who says or does what. The question is not if, but when they push it through and how fucked up it gets afterwards. It will be certainly no place you want to live by then.
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    Re: World Economic News and Discussion

    Post  higurashihougi on Sun Oct 11, 2015 9:26 am

    Comments about TPP

    https://www.eff.org/deeplinks/2015/10/final-leaked-tpp-text-all-we-feared

    The Final Leaked TPP Text is All That We Feared

    Today's release by Wikileaks of what is believed to be the current and essentially final version of the intellectual property (IP) chapter of the Trans-Pacific Partnership (TPP) confirms our worst fears about the agreement, and dashes the few hopes that we held out that its most onerous provisions wouldn't survive to the end of the negotiations.

    Since we now have the agreed text, we'll be including some paragraph references that you can cross-reference for yourself—but be aware that some of them contain placeholders like “x” that may change in the cleaned-up text. Also, our analysis here is limited to the copyright and Internet-related provisions of the chapter, but analyses of the impacts of other parts of the chapter have been published by Wikileaks and others.

    (click the link to see full text)
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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Tue Oct 20, 2015 5:06 am

    Looks like the French are in trouble again:
    http://ria.ru/world/20151020/1304906807.html

    The French bank will pay a heavy fine for the violation of US sanctions
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    Re: World Economic News and Discussion

    Post  max steel on Sun Jan 17, 2016 11:13 am

    Colossal Failure cry

    AIIB to Issue Loans in US Dollars

    The Asian Infrastructure Investment Bank (AIIB) will credit projects in US dollars while attracting capital in other currencies, AIIB President Jin Liqun said Sunday.

    "We lend only in US dollars," Jin said at a press conference, answering question on whether the institution would issue loans in other denominations.
    He clarified that other currencies, including the euro and the yuan, could be used to attract capital from the international market.

    The bank, seen as a rival to Western-dominated international institutions like the World Bank and the International Monetary Fund, was officially launched on Saturday with $100 billion in capital.
    Jin, president-designate as of August, was confirmed AIIB's first president at its inaugural session.


    AIIB, with 57 founding countries, is set to begin looking into infrastructure and energy project loans by mid-2016, Russian Economic Development Minister and AIIB Board of Governors member Alexei Ulyukayev said on Saturday.
    The Asian Infrastructure Investment Bank (AIIB) will issue its first loans before the end of 2016, bank President Jin Liqun said.


    Jin, who was confirmed as the institution’s first leader at its inaugural session after an opening ceremony on Saturday, further declined to enumerate the projects planned to be co-financed with other financial institutions.


    AIIB, with 57 founding member countries and $100 in initial capital, is seen as a rival to Western-dominated institutions such as the World Bank and International Monetary Fund.
    Russian Economic Development Minister and AIIB Board of Governors member Alexei Ulyukaev said on Saturday the bank was set to begin considering infrastructure and energy project loans by the second quarter of 2016.


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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Wed Feb 10, 2016 6:02 am

    This hits closer to home, and KVS should read this, and any other Canadians here:
    "Jingle Mail" Makes Comeback In Canada As Underwater Borrowers Mail Keys Back To Banks
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    Re: World Economic News and Discussion

    Post  kvs on Fri Feb 12, 2016 2:25 pm



    Canada's gold reserves are now basically nil but were around 1000 tons during the 1960s. I find the above chart interesting
    since it correlates with Canada's golden age (no pun intended). Back in the 1960s you could buy a good house in Canada for
    cheap and the standard of living was high. Now Canada is de facto poor as real estate is insanely overpriced and the real
    inflation rate for food is about 7% per year. I have been in Canada long enough to see the degradation of the standard of
    living.
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    kvs

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    Re: World Economic News and Discussion

    Post  kvs on Fri Feb 12, 2016 2:30 pm

    sepheronx wrote:This hits closer to home, and KVS should read this, and any other Canadians here:
    "Jingle Mail" Makes Comeback In Canada As Underwater Borrowers Mail Keys Back To Banks

    It points to Alberta which is being devastated by the low oil prices. But really the situation in Canada is deteriorating for a long time and the current
    oil prices do not explain it:



    Instead of having real incomes Canadians are progressively living in a credit fantasy land like Americans.
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    George1

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    Re: World Economic News and Discussion

    Post  George1 on Wed Mar 23, 2016 9:22 am

    Germany Continues Repatriation of Gold Reserves From Abroad

    Deutsche Bundesbank has already delivered the precious metal valued at approximately 11.5 billion euros to Frankfurt. The country is planning to bring back half of the country's gold reserves until 2020.

    The German central bank accelerated the withdrawal of Germany's gold reserves from overseas repositories, president of the Bundesbank Jens Weidmann said Sunday.

    According to Weidmann, the bank is working on a new concept of the gold storage adopted by Germany in 2013, according to which at least half of the total gold reserves of the country should be transferred to Frankfurt until 2020.

    Weidmann said that 366 tons of gold at a total value of approximately 11.5 billion euros have been delivered to Frankfurt so far.

    "Thus, there are now about 1,400 tons or 41.5% of our gold reserves here. We comply with the schedule," Deutsche Welle quoted the banker as saying.

    According to him, the rest of the gold will be stored in New York and London.

    Gold is an additional reserve currency for Germany. According to the Bundesbank, the German gold reserve amounts to approximately 3,400 tons and is the second largest in the world after that of the United States.

    "There are suggestions Germany wants its gold because it's worried its loans to less fiscally responsible sovereigns won't be repaid. But I believe Germany is preparing in case the euro were to eventually dissolve, so it wants its gold to potentially back a new Deutsche Mark. Perhaps they, too, recognize gold's return to its role as money," Peter Krauth wrote in 2013 for Money Morning.

    The gold reserve is to a certain extent a financial regulator for Europe as a whole and ensures Germany a leading role among European countries.

    Read more: http://sputniknews.com/business/20160320/1036618662/germany-repatriation-gold.html#ixzz43iE9U3PF


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    sepheronx

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    Re: World Economic News and Discussion

    Post  sepheronx on Tue Mar 29, 2016 11:05 pm

    Top Silicon Valley VC Laments: Startups Being Funded Are "Mostly Crap & Largely Worthless"

    This is one of the things I was talking about when I debated back with Mike regarding how silicon valley is a dotcom 2.0 burst waiting to happen again.
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    Re: World Economic News and Discussion

    Post  sepheronx on Fri Apr 29, 2016 11:58 pm

    Turkey and Foreign Investors http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/
    Over the past year, foreign investors have reacted in various ways to the situation in Turkey.. Most of them sold off the Turkish assets they held in their portfolios and left the country. Turkey has put foreign investors in a tough spot and they are faced with the dilemma: to stay or go? The flight of so-called “hot” money—short-term investments in treasury bonds and stock market securities—reached an unprecedented level in Turkish history.

    Faik Oztrak, former Deputy Undersecretary of Treasury, stated that in 2015, foreign-held portfolios had shown a net outflow of capital of $9.4 bn. This amount exceeded the volume of assets sold during the financial crises of 2001 to 2008. The capital flight in 2001 amounting to $7 bn was particularly painful, as Turkey’s exchange reserves were very low at that time.

    Oztrak said that, according to Central Bank statistics, the sale of foreign-held assets in the past year reached a record high. He also warned that “In 2016, global conditions remain uncertain. An unfavorable move by the US Federal Reserve, for instance, could lead to a repetition of what happened in 2015.”
    http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/
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    Re: World Economic News and Discussion

    Post  magnumcromagnon on Sat Apr 30, 2016 12:55 am

    sepheronx wrote:Turkey and Foreign Investors http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/
    Over the past year, foreign investors have reacted in various ways to the situation in Turkey.. Most of them sold off the Turkish assets they held in their portfolios and left the country. Turkey has put foreign investors in a tough spot and they are faced with the dilemma: to stay or go? The flight of so-called “hot” money—short-term investments in treasury bonds and stock market securities—reached an unprecedented level in Turkish history.

    Faik Oztrak, former Deputy Undersecretary of Treasury, stated that in 2015, foreign-held portfolios had shown a net outflow of capital of $9.4 bn. This amount exceeded the volume of assets sold during the financial crises of 2001 to 2008. The capital flight in 2001 amounting to $7 bn was particularly painful, as Turkey’s exchange reserves were very low at that time.

    Oztrak said that, according to Central Bank statistics, the sale of foreign-held assets in the past year reached a record high. He also warned that “In 2016, global conditions remain uncertain. An unfavorable move by the US Federal Reserve, for instance, could lead to a repetition of what happened in 2015.”
    http://journal-neo.org/2016/04/28/turkey-and-foreign-investors/

    The Turkish economy is a clusterfuck, extremely dependent on imports, their tourism is in the shitter with an outstanding 1,200 high class hotels shutting down operations in a month that followed the Su-24 shoot down...they're despised by Europeans as a whole and hated by virtually all there territorial neighbors (even by the Azerbaijani govt. cryptically)...all accelerate for the fire that will light the powder keg underneath the Turkish straw house. In a few years from now Turkey will put Syria and Iraq to shame with the amount of turmoil they will see, and everyone from Russia, Armenia, Syria, Iraq, Iran, Greece, Cyprus, and yes even Azerbaijan will be waiting to carve a slice out of the Turkey.

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    Re: World Economic News and Discussion

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