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Turkey just gave a worrying hint of the damage a Trump-run Fed might do

Erdogan's firing of Turkey's central bank chief sent the lira tanking and the nation's stocks tumbling.
Turkey's president Erdogan.

Turkey’s central bank is boosting its reserves with ‘off balance sheet’ short-term swaps — and investors are aghast

Turkey's central bank has admitted that much of its currency reserves are held in short-term swap contracts.

The Turkish lira is diving after Moody’s warns the worst is yet to come for the country’s banks

"There is a heightened risk of a downside funding scenario, where a deterioration in investor sentiment limits access to market funding," Moody's said, noting that "Turkish banks are highly reliant on foreign currency funding."
Turkish President Tayyip Erdogan makes a speech during a ceremony marking the second anniversary of the attempted coup at the Presidential Palace in Ankara, Turkey, July 15, 2018.

Turkey’s lira is rallying after a $15 billion loan from Qatar

Turkish President Tayyip Erdogan tweeted: "I sincerely thank Sheikh Tamim and the Qatari people for standing by Turkey. There is no doubt that our strong relations with the friendly and brotherly state of Qatar will continue to evolve in many areas."
A worker pours melted copper into a furnace at the KGHM Copper and Precious Metals smelter and processing plant in Glogow May 10, 2013.

Commodities are getting slammed as Turkey’s economic crisis causes chaos in markets

Metals in particular are suffering as a higher dollar caused by the EM currency sell-off pushes commodity prices sharply lower.

A simple misunderstanding between Trump and Erdogan may have tanked Turkey’s economy

Andrew Brunson, an imprisoned evangelical, became a flashpoint in Turkish-US relations which contributed to the crisis that is sending Turkey's economy plummeting towards rock bottom.