Turkey: Where to go when the cash runs low

[Yankee-stani]

Not myth.. Ottoman Empire had lots of property rights in Europe...their empire used to start from Saudia to Poland...if they gey back some its properties as per agreement and drilling in it sea bed...which part of agreement...they will force many European powers ..

The Treaty signed in 1920 does not stipulate that in 2023 all property or lands will be returned it's set in stone the border besides during WW1 most of the Turks in the Balkans were killed off by the Greeks,Bulgarians,Serbs,heck even Albanians Muslims kicked the Turks out as well also in 1920 there was huge population exchange between Greece and Turkey most Greeks left for Greece and Turks in Greece left for Turkey @Nein

 

[Cash GK]

The Treaty signed in 1920 does not stipulate that in 2023 all property or lands will be returned it's set in stone the border besides during WW1 most of the Turks in the Balkans were killed off by the Greeks,Bulgarians,Serbs,heck even Albanians Muslims kicked the Turks out as well also in 1920 there was huge population exchange between Greece and Turkey most Greeks left for Greece and Turks in Greece left for Turkey @Nein

Well let's wait

 

[rcrmj]

Turkey and its leaders have no vision and practical strategy, bunch of nationalist gangs`````and all of their nationalism is based on made-up history and delusion````the real Turks were vanished in the river of history long time ago, for god sake even the name Turk "突厥" was a Chinese term````

and the real killing part is that even the myth of Turks' "orignin" were also from ancient Chinese books````
there were 5 books regarding of where they're coming from

1: 5th centry archives called [the northen history], by 李大师、李延寿, first edited around 5th AC,
the record wrote (rougly), it was a tiny tribe from Aral Sea, subjective to Hun's rule, but were slaughtered by neighbouring tribe, only one boy were given mercy, but his arms and legs were cut off```left in the wild, saved by a she-wolf, and mated```in the cave she-wolf given birth to 10 boys, and they thrived afterwords, and their banners were marked with a wolf``````

2: first edited in 5th AC too, called [the book of Zhou] by 令孤德棻, ``` it also said that they were the decendents of wolfs, tribe located north to the Huns, and subjective to their rules. when Huns were pushed out by the Middle kingdom, they filled in the power void left by the Huns````

3: 5th AC, called [fun stories of southen hill] by 段成式, unlike the previous two, this one is more like a fictional novelties, it said that they came from Haidong (current Qinghai province), they were desendents of a sea god````and good at archery

4: 5th AC, called [the book of Sui] by 魏征 (one of most famous Prime ministers of Tang dynasty), it wrote Turks were mixed Hu 胡 (chinese term for barbarians), lived in current Gansu province of China, they were excellent blacksmith, and good at archery, marked with a worf banner ```

5: this book is similar to the first one, but it said one of the 10 boys left to settled at the foot of Altai Mountains, and wore Altai mountain shaped helmt in battles, so it was called 突厥 tujue by neighbouring tribes````

so the real Turks whether by myth or official documents have nothing to do with the current country Turkey, they were in fact all ancient nomadic tribes north to Middle Kingdom, they were either asimmilated or destroied by Middle Kingdom.

So when a nation's myth and lengend was soley based on other country's records from official to fairy tales, then it is a joke, nothing more``````and the funny part is that Turkey is trying to mess with China's internal business because they think they are the "desendent" of tujue? this is ludicrous

face the reality, know where you actually stand, work with others, develop your economy, stop messing with everyone````we dont want any troubles with a distant country, we want do business with everyone for the better of mankind

 

[beijingwalker]

````
so the real Turks whether by myth or official documents have nothing to do with the current country Turkey, they were in fact all ancient nomadic tribes north to Middle Kingdom, they were either asimmilated or destroied by Middle Kingdom.

So when a nation's myth and lengend was soley based on other country's records from official to fairy tales, then it is a joke, nothing more

True, the origin of Turkish people can only be found in the Chinese history records, a subculture under main stream Chinese culture, if Turks really want to know their origin and details of their early ancesters, they have to refer to the Chinese hisotry records.

The first known mention of the term Turk (Old Turkic: Türük or : Kök Türük Chinese: 突厥, Old Tibetan: duruggu/durgu (meaning "origin"),Pinyin: Tūjué, Middle Chinese (Guangyun): [tʰuot-küot]) applied to a Turkic group was in reference to the Göktürks in the 6th century. A letter by Ishbara Qaghan to Emperor Wen of Sui in 585 described him as "the Great Turk Khan." The Orhun inscriptions (735 CE) use the terms Turk and Turuk.

 

[OldenWisdom...قول بزرگ]

True, the origin of Turkish people can only be found in the Chinese history records, a subculture under main stream Chinese culture, if Turks really want to know their origin and details of their early ancesters, they have to refer to the Chinese hisotry records.

To claim Turks as a subculture of Chinese is to claim territories outside present day China... which includes Siberia, central and western Asia.

 

[OIO]

To claim Turks as a subculture of Chinese is to claim territories outside present day China... which includes Siberia, central and western Asia.

the word Turk is from European book translated from Chinese.

 

[MMM-E]

Pyramids which older than Egypt's pyramids and in the today's China earths at prohibited area were made by Turkic Peoples

why is it a national secret in China ? because of Turkic hidden History greater than all of your history

even American genetic scientists have proved that Europeans ( haplogroup R ) and Native Americans ( haplogroup Q ) have proto Turkic blood ( haplogroup PM-45 )

Haplogroup P-M45 ( proto Turkic Peoples )
Time of origin : 45.000 years ago
Place of origin : Central asia and Southeast Asia
Descendants Haplogroup Q and R


These ancient Turkic peoples, throughout the last 40000 years, had migrated further into Euroasian steppes, Europe, America, China, India as well as Mesopotomia while bringing their highly intelligent civilizations to the indigenous populations and These ancient Turkic / Turanians also founded the civilizations of ancient Sumer, early Egypt, China, Indus Valley/India(Harappa) and furthermore influenced on every other early civilizations Sumerians , early Egyptians, Hittites/Hattians, Trojans, Lydians, Etruscans, Pelasgians, Basques and Celts/Picts, Indus civilizations of Harappa and Mohenjo-Dara, Incas, Aztecs, Mayans, and the builders of all ancient worlwide cities including South American cities of Tihuanaco and Karal

 

[beijingwalker]

To claim Turks as a subculture of Chinese is to claim territories outside present day China... which includes Siberia, central and western Asia.

Not necessarily, Japanese, Korean and Vietnamese cultures are also branches of Chinese culture which can trace back their cultural roots in the Chinese history.

Pyramids which older than Egypt's pyramids and in the today's China earths at prohibited area were made by Turkic Peoples

why is it a national secret in China ? because of Turkic hidden History greater than all of your history

even American genetic scientists have proved that Europeans ( haplogroup R ) and Native Americans ( haplogroup Q ) have proto Turkic blood ( haplogroup PM-45 )

Haplogroup P-M45 ( proto Turkic Peoples )
Time of origin : 45.000 years ago
Place of origin : Central asia and Southeast Asia
Descendants Haplogroup Q and R


These ancient Turkic peoples, throughout the last 40000 years, had migrated further into Euroasian steppes, Europe, America, China, India as well as Mesopotomia while bringing their highly intelligent civilizations to the indigenous populations and These ancient Turkic / Turanians also founded the civilizations of ancient Sumer, early Egypt, China, Indus Valley/India(Harappa) and furthermore influenced on every other early civilizations Sumerians , early Egyptians, Hittites/Hattians, Trojans, Lydians, Etruscans, Pelasgians, Basques and Celts/Picts, Indus civilizations of Harappa and Mohenjo-Dara, Incas, Aztecs, Mayans, and the builders of all ancient worlwide cities including South American cities of Tihuanaco and Karal

You can claim Neanderthals and hominid erectus were both Turks.

even American genetic scientists have proved that Europeans ( haplogroup R ) and Native Americans ( haplogroup Q ) have proto Turkic blood ( haplogroup PM-45 )

Haplogroup P-M45 ( proto Turkic Peoples )
Time of origin : 45.000 years ago
Place of origin : Central asia and Southeast Asia
Descendants Haplogroup Q and R

You have their blood or they have your blood? You can't claim that you are the ancester of all humans just because you have human blood.

You logic is so messed up, it's you having their blood,not they had your blood.

 

[MMM-E]

You can claim Neanderthals and hominid erectus were both Turks.

its not my claim

American genetic scientists have proved that Europeans ( haplogroup R ) and Native Americans ( haplogroup Q ) have proto Turkic blood ( haplogroup PM-45 )

only watch but dont cry ok ?

Genetic history of P1-M45: Proto-Turkic ancestors of Europeans, Native Americans and Indians

 

[lonelyman]

Turkey: Where to go when the cash runs low
MAY 22, 2019 / 12:26 AM /

LONDON (Reuters) - Turkey is struggling to support the ailing lira, which has lost more than 40% of its value over the past two years, and with foreign currency reserves running low, investors are trying to map out Ankara’s options for turning the tide.

The $850 billion economy’s potential needs are huge. Were Turkey to descend into a full-blown crisis where it was shut out of international borrowing markets, analysts estimate Ankara would have to find between $40 billion and $90 billion to avoid some kind of sovereign default.

For many economists, this is a textbook emerging market currency crisis.

Years of foreign debt accumulation and rising balance of payments gaps meet a sudden evaporation of domestic and investor confidence that sends the currency sliding, inflation soaring and forces central bank interest rates higher to control it.

The interest rate and currency shocks in turn trigger a deep recession and problems in the banking system as firms and households struggle to pay back their loans — making high interest rates unsustainable and leaving the currency vulnerable to further weakness.

If foreign investment grinds to a halt and hard cash buffers disappear, Turkey has only limited options without simply building large current account surpluses that may require a much deeper and longer domestic recession.

Following are some scenarios that foreign investors see as possible.

BORROW TIME ON CAPITAL MARKETS
Ankara’s borrowing costs have shot up but it is nowhere near locked out of international capital markets yet. With a relatively comfortable debt to GDP ratio — expected to climb to around 35 percent by year-end, which is lower than most heavyweight emerging market countries — it could look to secure some cash and replenish some of its spent reserves.

The government has tapped hard-currency debt markets six times since October to the tune of $9.4 billion and has already raised 80% of the $8 billion it originally planned to borrow this year.

But it might need more and selling bonds when your economy is under severe strain can be prohibitively expensive and build up punitive repayment burdens for the future. Turkey had to pay a yield of 7.68% on a $2 billion 10-year bond tap in January — nearly twice as much as it paid a year earlier. The issue now yields more than 8%.

Debt capital markets bankers and fund managers predict Turkey would have to pay an additional 40-60 basis points for any new issues.

“If the sovereign wants to print tomorrow, they can — just at elevated levels,” said one senior banker.

Meanwhile, debt servicing costs add to the squeeze. Moody’s calculates Ankara’s interest payments rose 30.4% in nominal terms last year and almost 50% in the first quarter of 2019 due to the weak lira and a rise in payments. Interest payments are forecast to rise to around 8.2% of government revenues, up from only 5.9% in 2017.

And while borrowing on debt capital markets could help plug some holes, it won’t be enough to stop the tide if the pressure on Turkey ramps up.

THE IMF
Turkey could call for help from the International Monetary Fund, although President Tayyip Erdogan is strongly opposed to any dealings with the lender.

Turkey has received assistance from the IMF — in varying degrees — nearly 20 times in the last 50 years and the austerity imposed under its last conditional lending program, which ended in 2008, remains a bitter memory.

But few lenders can match the IMF’s firepower, the credibility of its checks and balances and the assurance its involvement offers for overseas investors.

Moody’s managing director of sovereign risk Yves Lemay said Erdogan’s aversion to the Fund means a U-turn would not be easy or likely.

UniCredit, however, has penciled in an IMF deal being struck in the second half of the year, and BlueBay Asset Management Chief Investment Officer Mark Dowding thinks the chances of an IMF bailout are rising too.

A LITTLE HELP FROM YOUR FRIENDS

Among Gulf states — known to provide lifelines to friends in need — Ankara’s closest ally is Qatar. After Turkey’s currency crisis last summer, Qatar pledged a $15 billion package of economic projects, investments and deposits including an up to $3 billion currency swap to help support the battered lira.


Sources say talks with Doha didn’t go anywhere, however, and no public announcement of support has been forthcoming since Turkey’s most recent financial troubles began.

Two of its largest banks, Qatar National Bank and Commercial Bank, both own assets in Turkey.

Other options in the Gulf are limited. Relations with the United Arab Emirates and Saudi Arabia, both also big investors in Turkish banks, have been strained since the two Arab states launched a blockade of their Gulf neighbor, Qatar, in 2017, where Ankara supported Doha.

Some have speculated European Union countries individually or the bloc as a whole could be lending a hand, keen to contain any fallout from a Turkey crisis through close trade and banking channels. Yet European engagement on a large scale such as the Greece bailout has been linked to an IMF program, and there is little political momentum to provide money on a larger scale.

That leaves Russia and China. They are both part of the BRICS bank or New Development Bank as it is now called. But it only has $100 billion in authorized capital and is designed help develop infrastructure not help with bailouts.

CAPITAL CONTROLS
No country wants to introduce capital controls but plenty do in a crisis, and Turkey has already half-flirted with the idea when the country’s local banks briefly stopped trading lira with their foreign counterparts back in March.

It has also put minor restrictions on dollar transfers and financial markets seem to be pricing for something more. Turkish banks’ price-to-book values — their share price compared to the value of their underlying assets — are nearly as low as those in Greece were when it slapped controls on during its crisis. The cost of insuring the debt of both the banks and the sovereign has meanwhile risen to such extreme levels that only serial defaulter Argentina is anywhere near.

But any such moves carry costs. If Turkey were to introduce major controls, analysts warn, it could choke off foreign investment, forcing the government to cut spending and worsening its recession.

CENTRAL BANK ACTION
Turkey could also follow the lead of Russia, which helped tame its own financial crisis in 2014 by taking a firmer grip on inflation targeting, a tool used by many major central banks.

If Turkey’s central bank were to do the same it would have to reverse course — it nudged some rates down on Tuesday — and tighten monetary policy.

But that would require something that has so far proven thorny — wresting more control from Erdogan, who has called for lower borrowing costs to boost economic activity.


“The central bank should be a key actor to rescue the country,” said Nikolay Markov, a senior economist at Pictet Asset Management. “The only way to deal with the crisis is to show commitment to fighting inflation by hiking interest rates to bring inflation down more in line with targets and contain lira depreciation.”

The lira has tumbled 12% against the dollar this year, while inflation unexpectedly slowed to 19.5% last month.

The central bank has not ruled out interest rate hikes if inflation unexpectedly jumps again but its swap rate cut on Tuesday mixes that message.

https://www.reuters.com/article/us-...re-to-go-when-the-cash-runs-low-idUSKCN1SR1XL

Lol, why cash low

Erdo pocketed himself though

 

[Nein]

Not necessarily, Japanese, Korean and Vietnamese cultures are also branches of Chinese culture which can trace back their cultural roots in the Chinese history.


You can claim Neanderthals and hominid erectus were both Turks.


You have their blood or they have your blood? You can't claim that you are the ancester of all humans just because you have human blood.

You logic is so messed up, it's you having their blood,not they had your blood.

I dont deny that various Turkic peoples were under the Sinosphere for centuries. But those times have moved on you could count some Turkic countries as part of the Sinosphere.

But you cant do that with Turkey or even Azerbaijan since we are too far away from China and centuries have passed away effectively cutting Chinese influence.

Im mainly talking about the Oghuz Turks ever since they moved away from China they became more culturally influenced by the Arabs and Persians since becoming Muslim then you have Persians influencing the Oghuz Turks giving a rise of Persian culture among the Seljuks and the Ottomans.

Turks that live in China or next to it to still the influence is there still but the Russians took a huge chunk of Central Asia there by affecting the Sinosphere itself.

China was the premier civilsation in the Far East hence why it was able to exert influence onto its neighbours.