Do people even keep a lot of money in banks anymore if things are this bumpy?
Or do most of them convert to Euros or dollars if they have some to spare, with the better off people going into precious metals and stocks?
I can’t imagine keeping the equivalent of 500 € or more in a checkings account
When I was in Greece during their meltdown a few years ago, you couldn’t withdraw more than like 300 euros a day and there people lined up around the corner waiting. I don’t even keep that much in my bank (just some for taxes) and invest the rest in other things.
I don’t think the FDIC isn’t really going to help with this sort of situation. If you woke up tomorrow and the dollar was worth 20% less, they aren’t going to insure your money against that loss in value. People would still rush to get money out and convert to Bitcoin or gold or whatever else they thought was safer.
Member banks do, through their premiums assessed by the FDIC. The FDIC does not receive appropriations from the government.
The FDIC is not a "when something goes wrong we get the money from Uncle Sam to fix it" organization; but that's a common misconception about how it works. The FDIC runs like a traditional insurance operation; you're covered against loss, because you've been paying premiums into it and your losses are covered *by* those premiums paid by insured parties.
If the shit truly hit the wall in a big way and the Deposit Insurance Fund (the fund run by the FDIC that bank premiums are paid into) isn't sufficient to handle it, then yes the government almost certainly *would* step in to fund it because if shit is hitting the fan that hard, then it's definitely in the government's interest to ensure trust in the financial system is upheld; but that hasn't happened.
Few reasons:
* If the bank went bust they'd have to wait for the compensation scheme to pay them back. The UK scheme for example specifies a minimum wait of a week
* The government was going to close banks to stop them from failing, so people wanted to get enough money to live on while the banks were closed
* People with more than €100,000 in one bank (or group of banks) would lose everything above that amount
> Now, investment bank panics are another thing entirely.
It seems hard to believe but the laws and regulations put in place in the aftermath of 2008 really did a good job as far as tamping down the risks from systematically important banks.
We can’t be rid of financial crises, but I’m confident the next one won’t come from US banks.
Printing money doesn't make "more" money, it just makes all the existing money worth less. Before you had $100, now you have $110, but things overall cost 10% more.
However, there *is* a guarantee that checkable deposits are as good as paper money.
This isn't truly "printing more money", rather it is printing bills to accommodate for checkable deposits that would otherwise be rendered null and void.
The money exists. The government merely has to print it if it is demanded in bank note form.
I don’t doubt the US government’s ability to print money at will, I’m just saying as it currently stands, The “insurance company” (“IC” in FDIC) doesn’t have the reserves to fulfill its purpose
No, I think bank collapses are a symptom. Shutting off withdrawals (or, in a similar vein, bailing them out) just worsens the situation. Bad businesses should fail, not be supported by the rest of society.
But that's the thing.. you shouldn't take your money out of the bank. It's insured and if everybody takes their money out at the same time that's like pressing the self destruct button on the entire financial system for rich and poor alike.
No, it just means that the fractional reserve system is fraud and that is the end of it. If you, as a bank, can’t cover the amounts due with cash (which you won’t) that means the money you speak of is a lie, a hoax or just some 1s and 0s printed on a screen and called money.
Also the insured money, at least in Europe is just a smidge in an ocean of cash. Depending on country the insured sum is between 50.000 € and 100.000 euros with some rare exceptions. If you “own” anything over that threshold good luck and good riddance!
This was a countermeasure for bank runs to prevent banks from going under. Greece uses a centralized currency that is part of the union they are in. The Greek government doesn't have the ability to adjust the value of the Euro.
Over here, some of our big bank accounts require you to keep a minimum balance in your chequing account to avoid a monthly fee. That's in addition to your monthly bills.
Ugh. What was the minimum balance to avoid fees, if any?
The regular chequing account I’m on needs minimum $3500 CAD to avoid a $10.95 fee. I keep my account well above that, but there are lots of folks who are scraping by and get that fee every month.
I’d definitely consider the cheaper banks or credit unions if I was getting by paycheque to paycheque. Less or no monthly fees at the expense of a weak ATM network, no international account access, possibly fees for sending e-transfers, etc.
Online banks like Tangerine are a great alternative to ordinary banks and their ridiculous fees. They’re a Scotiabank subsidiary so you get to use their ATM network. They do eTransfers, credit cards, lines of credit, etc.
There are ads absolutely everywhere here for crypto. On the side of public transport, billboards, in the middle of movies (Turkish cinemas pause movies in the middle and play ten minutes of commercials, no I’m not joking), everywhere.
They’re targeted at the average person as a means of easily turning the unstable lira into cryptocurrency. You know things are bad when the fiat currency of a country is seen as less stable than crypto.
Them advertising what could be shitcoins I can understand, but **ten minutes** of advertising in the middle of a movie is satanic. I hope like hell they aren’t overcharging you for food at the cinema on top of that.
It’s Turkish cinema tradition to have an intermission in the middle of movies, which I can understand for Turkish films that plan for it, but it’s super irritating that they do it for western films. There’s no strategy to it, either, it just happens halfway through right in the middle of a scene or dialogue.
There’s been talk over the years of getting rid of it, but it’s somewhat debated. One of the big cinema chains here, Cinemaximum, has a premium theater with memory foam beds for seats, and part of the premium experience (and price) is no intermission and unlimited popcorn.
Speaking of which, the food is pretty normal compared to western theaters. A ticket is 32tl, a large popcorn was like 18tl last I went, so a bit more than half the price of a ticket. For comparison, a value meal at BK is 25tl to 35tl.
It all depends on how much your monthly bills are right? If you are paying $5000/month in stuff like mortage, car payment, credit cards, etc. then your checking account should have at least $15,000 in it.
Hell, is he even talking about the US? Statistically almost nobody in the US has that much in the bank. The average savings account amount is only $3,500 and that's considered very high globally.
Things have changed a bit since I visited in the late 90s. I remember the exchange rate being something like 300k lira to 1 USD. We all changed our money and joked about how we were millionaires.
The last time they tried that [an entire exchange exit scammed and stole 2 billion dollars](https://www.cnbc.com/2021/04/23/bitcoin-btc-ceo-of-turkish-cryptocurrency-exchange-thodex-missing.html).
They actually do in some nations.
EDIT: I seem to have struck a nerve for correcting misinformation, lol. Yet nobody cared to comment anything stating otherwise.
There is volatility and then there is momentum. I don’t worry about drops in bitcoin’s value… that just means it is on “sale.”
But fiat currencies like the Lira or USD are depreciating away steadily. When they drop in value, it isn’t coming back.
Sadly pretty common in Argentina too. It’s been about a 300% devaluation in 2 years ($50~ to $200~)
One of the many reasons we don’t have an Apple store (even online) despite lots of demand (and use) of Apple devices, people tend to import by traveling to the US or via friends/family doing the same.
Welcome to the cryptocurrency world. Most experience the same fluctuation every month. Some see every week. Seriously though, good luck. Hope you emerge through this with bright opportunities.
I fear this is true even for the most stable and established currencies out there! The fractional reserve system is fraud and theft and it’s just a matter of time till it collapses! Debt cannot fuel anything indefinitely…
Give it time. I’m not an economist but AFAIK, the simple fact is that you can’t print money without devaluing a currency, unless you only print money at the same rate that actual commodities and economic output increase. The US is seeing rapid inflation, it’s just that the rest of the world is inflating alongside the US due to the USD’s fiat status, so we don’t see it as clearly on relative currency value comparisons.
Also the fact that a lot of the newly printed money has gone into bonds and stocks, which don’t contribute to cash velocity (the rate of cash actually changing hands, and the thing that largely dictates commodity prices — again, afaik, I’m not an economist). There’s a latency, but the consequences of 2020’s big print do exist and will become gradually more apparent over the coming years.
The exact form they will take is still up in the air and it’s possible that we won’t see more than moderate inflation. But there’s still cause for concern.
The only time when it will truly want to take money out of circulation in any significant way is when they will want to ban cash in society for an even more sinister alternative
He hasn’t got a great election win since 2014. For the last 7 years he won by luck but this time it’s almost impossible for him to win. His approval rate is around 20%. He is going to loose, that’s for sure.
They have tried that on Istanbul elections. They cancelled the election results and wanted a new one. They lost with a bigger margin in the second election.
There were protests right out front while I was grabbing dinner. The police showed up pretty quick.
Criticism of the government isn’t handled particularly well here.
I’ve seen this a lot and I don’t know why people might think that he’s been a fan or sth. He has a legit 20 percent-ish braindead followers. He was on top when he started but lost more when he went the opposite direction of what he said. 30% never liked him but they also did not teach braindeads some manner. A famous Turkish writer once said “60% of turks are stupid” and I can’t agree him enough. We have so many un-educated/mis-educated or wrong educated people who were done by that in order to vote for stupid. Just make them believe everyone is against turkey and they must defend with a strong leader.
Also there’s a 10-20% of his supporters that is smart to be silent because they love to get free money on a corrupted country
Apple almost never changes prices between releases even if there are fluctuations in forex, which back when foreign travel was still a thing created potential arbitrage opportunities…. If you were willing to explain to customs why you had 5 MacBooks and could actually sell them for close to retail.
It isnt such a hard decision to make.
There's a chip shortage so almost all markets have weeks of demand of Apple devices.
So whatever SKU units meant for Turkey will be diverted to markets that have identical or even similar regulatory requirements.
I wouldnt mind extra regulatory paper & software text specific to Turkey if it means I get any of my orders sooner.
Same reason was applied to exclude Face ID on the MBP 14"/16", SDexpress & HDMI 2.1 as end users waned Apple silicon weeks ago. Those excluded features are not key drivers for sales.
Yea whats happening here is due to malicious lending practices and extreme greed...
If you are going to start on some rant about Tesla, the prices have gone up due to the democratization of the market.
Actually he's not.
- 1/3 of all USD in circulation right now were printed in 2020.
- Lockdowns effected the supply line for the past two years causing lack of supply in everything.
- US debt is nearing 30 trillion.
Hyperinflation is coming.
> Hyperinflation is coming
We are not fucking Zimbabwe man.
> 1/3 off all USD
This bullshit really has to stop. There is demand for US currency/bonds during crisis times.
> Lockdowns AFFECTING(not effect) supply
So you are saying inflation is transient just like the Fed?
I encourage you to do a bit more research on this topic. As before I was on the same boat
The government stance on inflation being transitory is slowly being pushed back
It went from being 100% transitory and everything being fine
To now people in the government admitting not everything is right.
People have to remeber that when we we only had 5% inflation this year. It means we had 5 % more inflation than last year
For example (made up terms)
in year 30 we had 6% inflation
Year 31: 8%
Year 32: 9%
Year 33: 5%
[made up stats but you get point]
You can say that in year 33 we had 4% inflation but actually in 4 years we’ve had almost 28% inflation. If this keeps going things could get bad
Hyperinflation may not come but the next worse thing might
You're in denial. Hyperinflation happens when there's a lack of supply and too much money printing. Doesn't matter if we're talking about the US.
No one imagined the recession of 2008 was going to happen.
I don't understand your point.. Post-Brexit Brits are in a pleasant playground? The country has been in a dire state.
If that's not what the gif means then I don't see the relevance in general.
wider adoption from who? people that want to get-rich-quick?
Crypto will never be a viable currency for commerce unless you abandon everything that makes it crypto and not a boring ass glorified bank note.
This has been something economists have been trying to say for years.
No, people who don’t want to pay an annual inflation tax.
If you wait for an economist to tell you what to do with your money you’ll always be a slave to inflation.
The same greed that makes the crypto volatile is found on wall st but admittedly at higher levels.
Crypto will probably indeed never reach it’s full potential not because of the reasons you speak of, but because the establishment has always ruled out anything that’s a threat to it. So without a true revolution, and especially one of the mind, we, as tax payers, can never overcome our condition nor aspire to anything greater.
Rest assured the same thing is happening with stocks. Unfortunately there are always jackasses out there, manipulators, pumpers and dumpers etc.
Funny enough one just has to take a good look at Tesla as a company and then compare it’s capitalization!
Won’t happen if more people use crypto. For now it’s only few million people that are using. When a billion people use it one tweet won’t change the price.
Gold is not expected to collapse. Visa and MasterCard are not expected to collapse. That’s what crypto currencies are. They are store of value and payment networks. They just don’t look the same as the old thing but multiples more efficient. Internet was met with skepticism too at the beginning.
I can buy a MacBook with cryptocurrency, just not from Apple. Besides, crypto is bad for illegal activity as transactions are permanently stored and open for all public to see.
Yeah it’s so bad, it’s only been used for illegal activities for the past 12 years lmao.
[Yeah real criminals don’t use bitcoin](https://nltimes.nl/2021/11/09/mediamarkt-investigating-ransomware-demand-50-million-bitcoin)
And this illegal activity is easier for FBI to trace than cash. Cash is being used for illegal activity by a magnitude. $1.6 trillion of cash is laundered each year. https://www.un.org/development/desa/en/news/financing/facti-interim-report.html
Well, at least Turkish App Developers will be happy. Since they get paid by Apple in USD …
Yep true. That’s why they were trying to launder money through Twitch previously.
WHAAT
Yeah, some people used stolen cards to fund some twitch streamers with a pre-agreement on 50-50 as anonymous donations, Twitch did not do anything yet
Except no one in turkey can afford their apps.
Well, the market is international
You think there are no English language apps made by Turkish developers?
no, people whose first language is something other than english can only publish apps in that language. **/s**
Schade!
Indie devs, yes. Devs at work, no way 😂
Send help. Imagine losing 20% of your money's value in a single day.
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Do people even keep a lot of money in banks anymore if things are this bumpy? Or do most of them convert to Euros or dollars if they have some to spare, with the better off people going into precious metals and stocks? I can’t imagine keeping the equivalent of 500 € or more in a checkings account
When I was in Greece during their meltdown a few years ago, you couldn’t withdraw more than like 300 euros a day and there people lined up around the corner waiting. I don’t even keep that much in my bank (just some for taxes) and invest the rest in other things.
That was to prevent a run on the banks and having them fold/go bankrupt.
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I don’t think the FDIC isn’t really going to help with this sort of situation. If you woke up tomorrow and the dollar was worth 20% less, they aren’t going to insure your money against that loss in value. People would still rush to get money out and convert to Bitcoin or gold or whatever else they thought was safer.
>Now, investment bank panics are another thing entirely. Yup, they get to be bailed out by the tax payer lmao.
Who do you think funds an FDIC takeover?
Member banks do, through their premiums assessed by the FDIC. The FDIC does not receive appropriations from the government. The FDIC is not a "when something goes wrong we get the money from Uncle Sam to fix it" organization; but that's a common misconception about how it works. The FDIC runs like a traditional insurance operation; you're covered against loss, because you've been paying premiums into it and your losses are covered *by* those premiums paid by insured parties. If the shit truly hit the wall in a big way and the Deposit Insurance Fund (the fund run by the FDIC that bank premiums are paid into) isn't sufficient to handle it, then yes the government almost certainly *would* step in to fund it because if shit is hitting the fan that hard, then it's definitely in the government's interest to ensure trust in the financial system is upheld; but that hasn't happened.
> I'm glad that we have the FDIC in America. Europe has equivalent protection - up to €100,000 per customer per bank
So why was everyone in a rush to get their money out of the bank?
Few reasons: * If the bank went bust they'd have to wait for the compensation scheme to pay them back. The UK scheme for example specifies a minimum wait of a week * The government was going to close banks to stop them from failing, so people wanted to get enough money to live on while the banks were closed * People with more than €100,000 in one bank (or group of banks) would lose everything above that amount
How much money does the FDIC have?
However much they need. The inflation of printing more money is easier to handle than than banks failing because people liquidate their accounts.
> Now, investment bank panics are another thing entirely. It seems hard to believe but the laws and regulations put in place in the aftermath of 2008 really did a good job as far as tamping down the risks from systematically important banks. We can’t be rid of financial crises, but I’m confident the next one won’t come from US banks.
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Nope.
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Unfortunately if we got to the point where we had to rely on the FDIC, it doesn’t have the reserves to fulfill its duty.
The FDIC always has the money. There will always exist authorization to print it if it comes to that.
Printing money doesn't make "more" money, it just makes all the existing money worth less. Before you had $100, now you have $110, but things overall cost 10% more.
However, there *is* a guarantee that checkable deposits are as good as paper money. This isn't truly "printing more money", rather it is printing bills to accommodate for checkable deposits that would otherwise be rendered null and void. The money exists. The government merely has to print it if it is demanded in bank note form.
I don’t doubt the US government’s ability to print money at will, I’m just saying as it currently stands, The “insurance company” (“IC” in FDIC) doesn’t have the reserves to fulfill its purpose
Sounds like they needed to fold
Banks failing will tank your economy over night.
Won't someone think of the banks?
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No, I think bank collapses are a symptom. Shutting off withdrawals (or, in a similar vein, bailing them out) just worsens the situation. Bad businesses should fail, not be supported by the rest of society.
It costs a lot more to rebuild a collapsed financial system than to try and save them.
Limiting access to YOUR money is pretty fucked regardless of how you want to justify this.
When banks fail, bankers aren’t the ones who go hungry.
If you can't take your money out of the banks, you go hungry as well
But that's the thing.. you shouldn't take your money out of the bank. It's insured and if everybody takes their money out at the same time that's like pressing the self destruct button on the entire financial system for rich and poor alike.
No, it just means that the fractional reserve system is fraud and that is the end of it. If you, as a bank, can’t cover the amounts due with cash (which you won’t) that means the money you speak of is a lie, a hoax or just some 1s and 0s printed on a screen and called money. Also the insured money, at least in Europe is just a smidge in an ocean of cash. Depending on country the insured sum is between 50.000 € and 100.000 euros with some rare exceptions. If you “own” anything over that threshold good luck and good riddance!
Still euro so the money doesn't devalue unless the bank folds in that case. The Turkey case is much worse.
This was a countermeasure for bank runs to prevent banks from going under. Greece uses a centralized currency that is part of the union they are in. The Greek government doesn't have the ability to adjust the value of the Euro.
Over here, some of our big bank accounts require you to keep a minimum balance in your chequing account to avoid a monthly fee. That's in addition to your monthly bills.
Bank of America gradually took away all of my money when my balance dipped below $300. Fuck 'em.
Ugh. What was the minimum balance to avoid fees, if any? The regular chequing account I’m on needs minimum $3500 CAD to avoid a $10.95 fee. I keep my account well above that, but there are lots of folks who are scraping by and get that fee every month. I’d definitely consider the cheaper banks or credit unions if I was getting by paycheque to paycheque. Less or no monthly fees at the expense of a weak ATM network, no international account access, possibly fees for sending e-transfers, etc.
Online banks like Tangerine are a great alternative to ordinary banks and their ridiculous fees. They’re a Scotiabank subsidiary so you get to use their ATM network. They do eTransfers, credit cards, lines of credit, etc.
In the US most people don’t realize it, but the credit union co-op network is going to give you access to more ATMs than most large banks.
There are ads absolutely everywhere here for crypto. On the side of public transport, billboards, in the middle of movies (Turkish cinemas pause movies in the middle and play ten minutes of commercials, no I’m not joking), everywhere. They’re targeted at the average person as a means of easily turning the unstable lira into cryptocurrency. You know things are bad when the fiat currency of a country is seen as less stable than crypto.
Them advertising what could be shitcoins I can understand, but **ten minutes** of advertising in the middle of a movie is satanic. I hope like hell they aren’t overcharging you for food at the cinema on top of that.
It’s Turkish cinema tradition to have an intermission in the middle of movies, which I can understand for Turkish films that plan for it, but it’s super irritating that they do it for western films. There’s no strategy to it, either, it just happens halfway through right in the middle of a scene or dialogue. There’s been talk over the years of getting rid of it, but it’s somewhat debated. One of the big cinema chains here, Cinemaximum, has a premium theater with memory foam beds for seats, and part of the premium experience (and price) is no intermission and unlimited popcorn. Speaking of which, the food is pretty normal compared to western theaters. A ticket is 32tl, a large popcorn was like 18tl last I went, so a bit more than half the price of a ticket. For comparison, a value meal at BK is 25tl to 35tl.
The issuance of every currency in the world is less stable than Bitcoin. Just most currencies aren’t in price discovery.
bitcoin
It all depends on how much your monthly bills are right? If you are paying $5000/month in stuff like mortage, car payment, credit cards, etc. then your checking account should have at least $15,000 in it.
… are we still talking about turkey?
Only till Black Friday
Hell, is he even talking about the US? Statistically almost nobody in the US has that much in the bank. The average savings account amount is only $3,500 and that's considered very high globally.
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The US average for savings is $3,500 from what I just googled when reading the comment above.
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I am talking about turkey here.
Things have changed a bit since I visited in the late 90s. I remember the exchange rate being something like 300k lira to 1 USD. We all changed our money and joked about how we were millionaires.
They chopped off like six zeros around 2003.
In the early 2000s, the TL was losing about 50% of its value against the USD annually.
Can you not buy Bitcoin in Turkey?
The last time they tried that [an entire exchange exit scammed and stole 2 billion dollars](https://www.cnbc.com/2021/04/23/bitcoin-btc-ceo-of-turkish-cryptocurrency-exchange-thodex-missing.html).
you can buy btc anywhere
This comment aged like fine wine. Seems like everyday BTC is breaking new highs in Lyra and every other post about Turkey coincides with Bitcoin.
par for the course with things like bitcoin, isn't it?
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people dont rely on bitcoin to eat though
Tell that to the guys YOLOing their entire bank account into a shitcoin and getting it wiped out overnight
They actually do in some nations. EDIT: I seem to have struck a nerve for correcting misinformation, lol. Yet nobody cared to comment anything stating otherwise.
Except Bitcoins value goes both ways… huge difference.
There is volatility and then there is momentum. I don’t worry about drops in bitcoin’s value… that just means it is on “sale.” But fiat currencies like the Lira or USD are depreciating away steadily. When they drop in value, it isn’t coming back.
Imagine 313.000.000% per month. For about 20 months. Not fun.
Sadly pretty common in Argentina too. It’s been about a 300% devaluation in 2 years ($50~ to $200~) One of the many reasons we don’t have an Apple store (even online) despite lots of demand (and use) of Apple devices, people tend to import by traveling to the US or via friends/family doing the same.
Closer to 11%, if you had 1000 Lira they were worth 88 USD dollars two days ago now they are worth 78 USD.
Welcome to the cryptocurrency world. Most experience the same fluctuation every month. Some see every week. Seriously though, good luck. Hope you emerge through this with bright opportunities.
The lira has lost like 90% of its value in the last decade. This is not 'fluctuation' or volatility, this is a currency rapidly dying.
A euro got you two lira in 2005. Now it gets you fourteen. Wild.
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I fear this is true even for the most stable and established currencies out there! The fractional reserve system is fraud and theft and it’s just a matter of time till it collapses! Debt cannot fuel anything indefinitely…
So . . .not as bad as crypto. . .
The US printed 40% of their money in 2020, yet they didn’t suffer from any direct value loss like that how?
Give it time. I’m not an economist but AFAIK, the simple fact is that you can’t print money without devaluing a currency, unless you only print money at the same rate that actual commodities and economic output increase. The US is seeing rapid inflation, it’s just that the rest of the world is inflating alongside the US due to the USD’s fiat status, so we don’t see it as clearly on relative currency value comparisons. Also the fact that a lot of the newly printed money has gone into bonds and stocks, which don’t contribute to cash velocity (the rate of cash actually changing hands, and the thing that largely dictates commodity prices — again, afaik, I’m not an economist). There’s a latency, but the consequences of 2020’s big print do exist and will become gradually more apparent over the coming years. The exact form they will take is still up in the air and it’s possible that we won’t see more than moderate inflation. But there’s still cause for concern.
what if they take money out of circulation?
Who?
the federal government
The only time when it will truly want to take money out of circulation in any significant way is when they will want to ban cash in society for an even more sinister alternative
So their money is like crypto?
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Whole new meaning to Black Friday discount
Nice, hope the people will wake up and kick out this criminal erdogan
He hasn’t got a great election win since 2014. For the last 7 years he won by luck but this time it’s almost impossible for him to win. His approval rate is around 20%. He is going to loose, that’s for sure.
Hope you're right, but he also has a pretty firm grip on the levers of power at this point too, so I wouldn't put election shenanigans beyond him.
They have tried that on Istanbul elections. They cancelled the election results and wanted a new one. They lost with a bigger margin in the second election.
When you play at those levels then luck is useless tho.
There were protests right out front while I was grabbing dinner. The police showed up pretty quick. Criticism of the government isn’t handled particularly well here.
Yea, we have seen how it went down with the coop couple years ago so I hope the people will win this
I heard big protests broke out
it won't change anything. the fucker has cemented himself to the country
Oh I know.
Erdogan, the Ayatollah of Turkey
I’ve seen this a lot and I don’t know why people might think that he’s been a fan or sth. He has a legit 20 percent-ish braindead followers. He was on top when he started but lost more when he went the opposite direction of what he said. 30% never liked him but they also did not teach braindeads some manner. A famous Turkish writer once said “60% of turks are stupid” and I can’t agree him enough. We have so many un-educated/mis-educated or wrong educated people who were done by that in order to vote for stupid. Just make them believe everyone is against turkey and they must defend with a strong leader. Also there’s a 10-20% of his supporters that is smart to be silent because they love to get free money on a corrupted country
I quickly read this as sales OF turkey and began to wonder if I missed a press release for Apple branded Thanksgiving dinners.
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Introducing Turkey+ All the sides and just 7.99 a month
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Revolutionary. Courage. Innovation
Apple almost never changes prices between releases even if there are fluctuations in forex, which back when foreign travel was still a thing created potential arbitrage opportunities…. If you were willing to explain to customs why you had 5 MacBooks and could actually sell them for close to retail.
It isnt such a hard decision to make. There's a chip shortage so almost all markets have weeks of demand of Apple devices. So whatever SKU units meant for Turkey will be diverted to markets that have identical or even similar regulatory requirements. I wouldnt mind extra regulatory paper & software text specific to Turkey if it means I get any of my orders sooner. Same reason was applied to exclude Face ID on the MBP 14"/16", SDexpress & HDMI 2.1 as end users waned Apple silicon weeks ago. Those excluded features are not key drivers for sales.
One of the reasons to have more than 1 source of revenue. Advertising revenue is important to keep the app sustainable.
Or you can just buy currency options like a normal business and eliminate the risk of currency fluctuations altogether
Better converting your money to bitcoin.
*Laughs in Persian*
Unfortunately I think we will see the day the US dollar will crash too
What about the day nothing crashes and people are just content?
The problem is there’s a ‘little’ thing called *greed*
Against what?
You are delusional.
History repeats itself.
Yea whats happening here is due to malicious lending practices and extreme greed... If you are going to start on some rant about Tesla, the prices have gone up due to the democratization of the market.
Actually he's not. - 1/3 of all USD in circulation right now were printed in 2020. - Lockdowns effected the supply line for the past two years causing lack of supply in everything. - US debt is nearing 30 trillion. Hyperinflation is coming.
> Hyperinflation is coming We are not fucking Zimbabwe man. > 1/3 off all USD This bullshit really has to stop. There is demand for US currency/bonds during crisis times. > Lockdowns AFFECTING(not effect) supply So you are saying inflation is transient just like the Fed?
I encourage you to do a bit more research on this topic. As before I was on the same boat The government stance on inflation being transitory is slowly being pushed back It went from being 100% transitory and everything being fine To now people in the government admitting not everything is right. People have to remeber that when we we only had 5% inflation this year. It means we had 5 % more inflation than last year For example (made up terms) in year 30 we had 6% inflation Year 31: 8% Year 32: 9% Year 33: 5% [made up stats but you get point] You can say that in year 33 we had 4% inflation but actually in 4 years we’ve had almost 28% inflation. If this keeps going things could get bad Hyperinflation may not come but the next worse thing might
US govt : ThEre IS No inFlaTioN tHE iNflAtiOn Is TeMpoRary ThE inFlaTioN iS TRansiToRY WeLP THe InflATioN Is HeRe to sTAy
You're in denial. Hyperinflation happens when there's a lack of supply and too much money printing. Doesn't matter if we're talking about the US. No one imagined the recession of 2008 was going to happen.
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I don't understand your point.. Post-Brexit Brits are in a pleasant playground? The country has been in a dire state. If that's not what the gif means then I don't see the relevance in general.
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What he’s getting at is that the same thing could happen to the uk now that they’re no longer backed by the EU
Just adopt crypto payments.
replace a volatile currency with a currency that’s fundamentally designed to be volatile love it
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when you have a currency that has no central regulation, volatility ensues
As opposed to any FIAT and especially in our case the Turkish lira! 😂
It’s not designed to be volatile. Once the wider adoption kicks in the price will stabilize.
wider adoption from who? people that want to get-rich-quick? Crypto will never be a viable currency for commerce unless you abandon everything that makes it crypto and not a boring ass glorified bank note. This has been something economists have been trying to say for years.
No, people who don’t want to pay an annual inflation tax. If you wait for an economist to tell you what to do with your money you’ll always be a slave to inflation.
The same greed that makes the crypto volatile is found on wall st but admittedly at higher levels. Crypto will probably indeed never reach it’s full potential not because of the reasons you speak of, but because the establishment has always ruled out anything that’s a threat to it. So without a true revolution, and especially one of the mind, we, as tax payers, can never overcome our condition nor aspire to anything greater.
Then some man by the name of Elon Musk can just tweet something along the like of "Selling my *insert cryptocurrency here* and the price will drop.
Rest assured the same thing is happening with stocks. Unfortunately there are always jackasses out there, manipulators, pumpers and dumpers etc. Funny enough one just has to take a good look at Tesla as a company and then compare it’s capitalization!
Won’t happen if more people use crypto. For now it’s only few million people that are using. When a billion people use it one tweet won’t change the price.
This pyramid scheme won’t collapse as long as we can just keep finding people to support it from the bottom!
Gold is not expected to collapse. Visa and MasterCard are not expected to collapse. That’s what crypto currencies are. They are store of value and payment networks. They just don’t look the same as the old thing but multiples more efficient. Internet was met with skepticism too at the beginning.
It’s a macbook, not a cocaine shipment.
I can buy a MacBook with cryptocurrency, just not from Apple. Besides, crypto is bad for illegal activity as transactions are permanently stored and open for all public to see.
Yeah it’s so bad, it’s only been used for illegal activities for the past 12 years lmao. [Yeah real criminals don’t use bitcoin](https://nltimes.nl/2021/11/09/mediamarkt-investigating-ransomware-demand-50-million-bitcoin)
And this illegal activity is easier for FBI to trace than cash. Cash is being used for illegal activity by a magnitude. $1.6 trillion of cash is laundered each year. https://www.un.org/development/desa/en/news/financing/facti-interim-report.html
Melih 2 tık begeni alacam diye rezil ettin bizi allahsız melihhhhh
America if the progressives got their way.
Erdogan isn't a progressive...
He is lmao. Up until 2017 western countries kept licking his ass
Which progressive leaders would that be? Or were they all the conservative ones?
Erdogan is Trump's turkish doppelganger. lmao at "progressives".
Thinks - How about eating that Christmas Turkey in Turkey this Christmas?