Turkey’s Latest Currency Move!

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  • ℹ️ Description

Having defied internal and external economic logic by repeatedly cutting interest rates, Erdogan opted this week for a new set of measures to stabilize its currency. What should we make of Turkey’s latest currency move?

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One of my predictions for 2022 is that Patrick will hit 1 million subscribers

Author — How Money Works


I just discovered this channel a few days ago and it is brilliant. As a historian and a political activist it is great to hear honest and open discussion about finance and especially monetary policy from someone not trying to push their agenda, and willing to acknowledge uncertainty and mistakes. Just going in and describing things is so refreshing, neither pandering nor hiding behind jargon. Sure, your opinion is often quite clear, but it seems to be an opinion on the mechanics and effectiveness, not the players or larger social narratives. This is what the internet should be about.

Author — IsaacScharp


This is epic. I have been watching many videos about Turkish Lira and the inflation. But nobody could explain the situation in these very details like what Patrick did!

Author — Karlkim Suwanmongkol


This channel is actually insane. No drama just straight facts followed up by a discussion.

Author — Jan Se


Patrick makes the best finance videos on YouTube hands down. incredible amount of knowledge on so many different topics that he shares with us for free. Thank you, sir.

Author — rdiznfriends


Just discovered this channel, and as a common Turkish person, I love the way you simplify it. I am bad with English as well as economics but you sir, you made me understand it no problem

Author — Mr Jukerino


Just get Elon Musk to tweet about Turkey and watch the Elon Markets Hypothesis work its magic.

Author — some guy


Wow. I'm surprised how you presented it in a simple and effective manner for people who doesn't understand the complexities of economics! Keep it up!

Author — Jan Kevin Rico


Excellent video as always! Small note: you said that dollarization, or, more generally, currency substitution, comes about because the local currency is not working as a medium of exchange. I think that the local currency is still a medium of exchange for day to day transactions, where it definitely fails is a store of value. The current situation in Turkey, as in other emerging economies with similar problems (Argentina, ...), can be probably better described as bimonetary, or multimonetary, as also considerable amounts of savings are in Euros (geographical proximity and trade relationship) or Swiss francs (related to residential Real Estate loan hedging and other financial special cases).

Author — Andrés Mlinar


Thanks Patrick, every video you make is genuinely very informative, as opposed to most financial news channel where you feel like the narrator knows as much if not less than you do about the situation.
Your content is always clear and concise, finally a financial analyst I feel I can trust.

Author — Tyranny\\Incorporated™


I have huge respect for you sir, great insight in every economic event. keep up the good work.

Author — Devendra Dave


This is aimed at the voting public in Turkey, but it is not going to help businesses who have to deal with their wobbly exchange rate daily.

Author — Kien Hweng Tai


Thanks for great explanation. In short our government try to manipulate currency until election happens. They have no long term plan.

Author — Burak yıldız


Great summary and explanation! I was astonished that individual people in Turkey can still own US$. In the many argentine government bankruptcies it was standard practice to confiscate (rob) US$ from everyone. Happens early on in Argentina and is the sure sign that bankruptcy is unavoidable.

Author — Joerg Mueller


Subbed, so straight forward and easily digestable explanations, also touching on aspects I havent seen others touch on. Thank you for helping me understand international economy better.

Author — Ziltch


Absolutely lucid, thorough, and objective analysis. Thanks.

Author — Ken Kitchin


Thank you Patrick! You've become my #1 source for finance & business news. Keep up the good work.
I've also subscribed to The Daily Upside and I like it a lot.

Author — João Neves


They decided that their inflation is bad so they decided to print money so the inflation doesn't have the bad feels. This will work out perfectly. It always does. Always.

Author — BadxxxMonkey


I suspect this will backfire big time. Lira with fall, Turkish central bank will have to print a shit ton of cash to cover the balance and in doing so devalue the currency even more.

Author — DonaldTheGreat


What an odd way to increase interest rate without increasing interest rate

Author — Mustachewarfare