Hassan Nasrallah, the Hezbollah leader, gave an extensive speech last week after an Israel drone strike killed a top Hamas official in Beirut, Lebanon, and said the attack will not “go unanswered or unpunished.”
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TURKEY’S CENTRAL BANK RAISES INTEREST RATE TO 40 PERCENT
Signaling a newfound seriousness about inflation, now running at about 61 percent, Turkey’s central bank raised its key interest rate by 5 points on 23 November to 40 percent, its highest level in almost 20 years.
TURKEY RAISES KEY INTEREST RATE BY 5 POINTS AT ONCE
On 21 September, Turkey’s central bank hiked its key one-week repo interest rate by a whopping five percentage points to 30 percent, matching economists’ forecast in a FactSet poll.
USING OLD-FASHIONED SOFTWARE TO RIDE HERD ON AI
Machine-learning engineer Liran Hason knew that widespread AI adoption would depend on quelling fears of AI going rogue and making up things, spewing offensive results, or waging war on humanity.
TURKEY’S CENTRAL BANK DRAINS GOLD, FOREIGN RESERVES NEAR ELECTION
The Central Bank of the Republic of Turkey saw its foreign currency reserves dwindle by $9.5 billion from 1 April through 12 May and its gold stores shrink by $7.9 billion ahead of mid-May’s first-round presidential election, the Financial Times calculated from the bank’s data.
SPOTLIGHT ON NEW WORLD DISORDER TOP TREND
One of our Top Trends for 2020 was New World Disorder. Long forgotten are the facts that back in 2019 people across the globe were taking to the streets in protest of government corruption, crime, violence, and the decline and/or lack of basic living standards.
TURKEY’S CENTRAL BANK CUTS KEY INTEREST RATE—YES, AGAIN
Turkey’s central bank cut its policy interest rate from 9 percent to 8.5 percent last week, partly in response to this month’s earthquake that devastated swaths of Syria and Turkey and killed tens of thousands of people.
TURKEY: ERDOGAN’S “NEW ECONOMIC MODEL” WORKS – SORT OF
As inflation crashed Turkey’s economy over the past year and shredded the value of its lira currency, president Recep Erdogan insisted the country was pioneering a “new economic model” in which rock-bottom interest rates and a near-worthless currency would create an economic boom driven by exports.
SPOTLIGHT: THE STRUGGLE OVER INTEREST RATES
As we have greatly detailed, the rise and fall of interest rates is a guessing game since facts do not matter. Again, the facts were clear, front and center: Inflation was spiking but the Central Banksters defamed those of us who said it was real and rising and instead declared it was only “temporary” and then “transitory.”
SPOTLIGHT: INFLATION
The world is moving toward a hyperinflation catastrophe that could spark the worst financial crisis since World War II, the Elliott Management Fund warned in a letter to clients last week obtained by the Financial Times.