The Turkish hostage crisis continues.
President Trump is using sanctions and tariffs to pressure the Islamic terror regime in Turkey to release Pastor Brunson and other hostages. These measures have sent Turkey’s scam economy into a tailspin. And its tyrant, Erdogan, is trying to bluster his way through it.
President Recep Tayyip Erdogan is wrestling to get the Turkish economy on track after the currency hit a record low against the dollar today, amid a financial shockwave which Donald Trump worsened by promising to double tariffs on the NATO ally.
The lira lost nearly nine per cent against the dollar and euro on Friday – and has lost over a third of its value against the currencies so far this year.
Erdogan framed Turkey’s currency crisis as a ‘national battle’ against economic enemies, including the U.S., saying: ’if they have their dollar, we have the people, we have Allah’.
He urged people to exchange gold and hard currency into lira to help stabilize the exchange rate, but Trump’s tweet that he had doubled steel and aluminum tariffs on Turkey deepened the financial crisis.
Erdogan’s popular support has less to do with Allah than with economic prosperity. But Erdogan’s Islamist movement bought that prosperity by putting Turkey deep into debt.
Obama let Erdogan get away with murder. (Literally.) But Trump is holding him accountable. And now the bill is coming due for Turkey’s crony debt-ridden economy.
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