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Author Topic: 2013-01-28 NY Times - Turkey Raises Rates to 12% and The Fragile Five  (Read 914 times)
cr1776
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January 28, 2014, 11:13:58 PM
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No mention of bitcoin, but that seems not to matter anymore.

http://www.nytimes.com/2014/01/29/business/international/stress-on-turkish-currency-eases-before-central-banks-emergency-session.html?_r=0

FRANKFURT — Turkey’s central bank aggressively raised rates late Tuesday, in a drastic move designed to bolster the currency. But it is unclear whether the move will be enough to satisfy international investors and repair the central bank’s reputation.

The decision comes as Turkey faces increased political and economic pressure to take action. The Turkish lira has been among the most battered of developing-market currencies in recent weeks. Following the central bank’s decision, the lira strengthened in after-hours trading.

...

Since the middle of last year, when the Federal Reserve sent tremors through international financial markets by announcing that it would pull back from its bond-buying program, Turkey has become a charter member of the “fragile five” — the finance industry’s recently minted nickname for emerging economies with vulnerable currencies.

Other countries in this club include Brazil, South Africa, Indonesia and India. Such countries are highly dependent on skittish foreign investors to finance their growth ambitions. The Fed’s plans, which portended higher interest rates in the United States, made dollar-denominated debt seem more attractive compared with the higher-yield, higher-risk debt of the fragile five.

...
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LiteCoinGuy
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January 28, 2014, 11:36:33 PM
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interesting news but wrong section.

cr1776
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January 28, 2014, 11:40:23 PM
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interesting news but wrong section.

It is a free for all in here now - no one follows the guidelines and the mods don't care.  When you start following them, then feel free to criticize others in here.
runam0k
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January 29, 2014, 12:15:02 PM
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It is a free for all in here now - no one follows the guidelines and the mods don't care.  When you start following them, then feel free to criticize others in here.
You see someone drop litter on the street so you decide it's fine to start shitting everywhere?

It's an interesting article but it's in the wrong section.
cr1776
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January 29, 2014, 01:26:42 PM
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It is a free for all in here now - no one follows the guidelines and the mods don't care.  When you start following them, then feel free to criticize others in here.
You see someone drop litter on the street so you decide it's fine to start shitting everywhere?

It's an interesting article but it's in the wrong section.

In this case, yes. 1. To make a point, and 2. To encourage people to follow the guidelines by illustrating the absurdity of having them when no one follows them since discussions about it go nowhere.

But it made the point so I'll move it from Press
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April 07, 2014, 02:30:38 PM
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Russia did similar movement some time ago. I guess it is common practice.

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