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Foolish Trump Confuses Turkey with North Korea – by Mehmet Barlas

Foolish Trump Confuses Turkey with North Korea – by Mehmet Barlas

President Erdogan, while speaking in Ordu province, said the following hard-hitting words:

“What a shame! You are discarding your strategic partner for a pastor!”

As if we are North Korea

If what we are witnessing was a movie script, we would be probably be smiling. But it is the reality. It is obvious that as far as Trump’s America, there is no difference between Turkey and North Korea. The fact that Turkey is a NATO ally is nothing more than an afterthought. That Turkey is trying a spy/pastor is enough reason to push Turkey over to the opposing camp. Turkey is hit by sanctions, as if it were North Korea.

They are waiting

The initial reaction from this irrational aggression was the swift rise of US Dollar against the Turkish Lira. We can state it with certainty that an economic crisis followed by a political one is exactly what some camps in Turkey and the FETO operatives cultivated by the US were waiting for.

Precautions

We have witnessed the Russian Ruble suffer the same fate when similar sanctions were implemented to Russia and their currency fell to two-year lows. The first act of business from the Russian Central Bank was to limit the bank’s dollar purchases. This aimed at lowering the domestic demand for US dollars. We could have done the same.

Wealth of the nation

The president is asking the public to sell their dollars and euros and covert them to Turkish Lira. Malaysian Prime Minister made a similar plea to his people in the face of $1.5B but was able to collect a mere $1.5M.

Time to pay up

It is doubtful whether exchanging the foreign currencies held by the public will be much help to us either. What can make a difference is if those people who have huge dollar-based accounts overseas, and those who are known to be dollar-billionaires bring their funds over to Turkish banks. Another step could be to get rid of the Corporate Tax, which is not a big number anyway. It may facilitate capital inflows. A market with no Corporate Tax will be attractive to foreign capital.

An Epithet for Trump

It appears we may not be able to take the extreme step of closing down Incirlik Air Base for now. But I wonder if it would be possible to ask Dogan Holding -which owns the Trump Tower in Sisli, Istanbul, if they can insert the word “Looney” in front of “Trump” at the building’s façade.

 

Originally published in Turkish at: https://www.sabah.com.tr/yazarlar/barlas/2018/08/12/akilsiz-trump-turkiye-ile-kuzey-koreyi-karistirdi

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