Bracing for impact (for a possible “Black Monday”) tomorrow… [ Volumes Surge on Turkey’s Crypto Exchanges as Lira Tanks]

A selection of tweets below that might give the reader some clues…

Turkish president says his country will not back down to ‘the bullets, cannonballs and missiles of economic wars’.

Global markets braced for hectic trading as Turkish crisis unfolds

Erdoğan accuses foreign interests of waging trade war after lira goes into freefall

Global markets are braced for another hectic day of trading amid Turkey’s unfolding economic crisis after the country’s currency, the lira, plunged 20% to record lows on Friday.

Erdoğan or the central bank have days to prevent a tsunami of selling and a collapse of the lira

Q&A: Why is the Turkish lira in freefall and should we worry?

As the currency plunges holidays in Turkey get cheaper but markets fear of contagion

Turkey’s currency is in freefall, its exports face US sanctions, inflation is rising but its president is defiant. So what’s going on in the country with 80 million inhabitants that is a key Nato ally?




The New York Times – Landon Thomas Jr. – Aug 11, 2:00 AM

For the last seven years, Tim Lee has been warning that a financial crisis in Turkey would set off a wider calamity in global markets. Just about nobody listened — until now. A plunge in the Turkish lira and the prospect that the country

Erdoğan calls on Turks to back lira by selling their dollars and euros

Turkey’s currency has plummeted as relations with the US have worsened

The Turkish president, Recep Tayyip Erdoğan, has repeated a call for Turks to sell dollars and euros to support the national currency, which has been in freefall over concerns about the economy and deteriorating ties with the US.

Partying Like It’s 1998

Turkey has an old-fashioned currency and debt crisis

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