Author Topic: Turkish Central Bank grows a pair...  (Read 5447 times)

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Offline apollo

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Re: Turkish Central Bank grows a pair...
« Reply #10 on: May 07, 2014, 11:51:35 AM »
putting inflation to one side. 1000 lira in Turkey is still 1000 lira.

A loaf of bread is still 75 kurus and a night in a private room in Akdeniz hospital is still 90 lira etc etc.



Offline Colwyn

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Re: Turkish Central Bank grows a pair...
« Reply #11 on: May 07, 2014, 12:02:56 PM »
Sounds like you have studying Harold Wilson's "The Pound in Your Pocket" speech!

Offline apollo

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Re: Turkish Central Bank grows a pair...
« Reply #12 on: May 07, 2014, 12:12:11 PM »
ah, the old red herring ploy!

Offline Colwyn

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Re: Turkish Central Bank grows a pair...
« Reply #13 on: May 07, 2014, 12:17:05 PM »
No red herring here. Your statement that 1000TL hasn't changed and is still a 1000TL is the same as Wilson's remark that £1 would still be worth £1 - and equally fallacious.

Offline JohnF

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Re: Turkish Central Bank grows a pair...
« Reply #14 on: May 07, 2014, 12:20:17 PM »
Thinking back to (what I've read) about that time, the government spent millions of pounds trying to shore up the failing pound and then had to raise interest rates.  Now who does that remind you of...?

putting inflation to one side. 1000 lira in Turkey is still 1000 lira.
You cant put inflation to one side when talking about how much that 1000tl will buy you.  The rise in inflation is is inexorably linked to the depreciation of the TL.

JF




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