Time To Leave The Dollar, says Erdogan … (Death of the Dollar–5) with Link to Full Story

[majes-tytyty]

These initiatives are part of the Turkish government’s overall plan for de-dollarization.

Tayyip Erdogan–

"Time to Leave the Dollar"     _{(Right-click title to see original story)}  

_{(Image source)}

Flash Points 

1 – Erdogan is urging Turks to abandon the US$ and other currencies. 
2 – The Turkish government has initiated a de-dollarization plan. 
3 – This is not the first time Erdogan has advised Turks to ditch the US$.

– Synopsis –

A few days ago, Turkish President Tayyip Erdogan advised Turkey’s citizens to abandon the US dollar.  

A Question of Value  

He emphasized that ditching the dollar was the patriotic thing to do. He added, rather obliquely, that the Turkish lira would not “lose value anymore.”

This Time May be Different  

Erdogan has called several times for Turks to leave the dollar – albeit to no effect. (see chart)

Furthermore, in July 2019, the Turkish government announced its plans to establish a digital currency to be issued by its central bank. That comes as part of the government’s overall plan to proceed with de-dollarization.  _{(Image source)}

– Insight from Outside –

At this point, it could be said that the Turks can’t really go wrong in following their president’s advice. In fact, this time, it may be astute financial advice. 

A Step Forward  

Regardless of how the Turkish lira moves, the dollar has greater issues to deal with than its rate vis-a-vis the lira.    

Moreover, any country that proceeds with plans to de-dollarize is on the right path, and a few steps ahead of any countries that loyally cling to the doomed US dollar.   _{(Image source)}