Currency Crisis #5: Turkey

[erikjoy]

https://www.zerohedge.com/news/2018-08-12/lira-crashes-through-700-erdogan-urges-turks-not-pull-money-out-banks

Looks like one man is not enough to stand up to an army of financiers and traders. This looks like the last straw before capital controls and "bail-ins" for banks using client capital. Time to be buying Bitcoin Turkey...

Similar things have been happening in Iran (although without as much antagonism) and Venezuela, with teetering motions in China and Russia, and sliding motions in India. What in the hell is happening to emerging markets?