NEO – Is the US Beheading the Turkish Economy as an Act of Terror?

Qatari Bailout on the radar for Turkey?

13
2504

by Jim W. Dean,  … with New Eastern Outlook, Moscow

[ Note: Erdogan is scrambling, as Trump again demonstrates that US foreign policy can inflict increasing sanctions on anyone who does not toe the line.

Is Erdogan blowing smoke?

Mass media will not even mention how blatantly illegal all this is under international law, revealing that the World Trade Organization has always been a sock-puppet structure that could be violated by the big kid on the block, at will.

Press TV has an article on the standoff, but surprisingly uses Monday’s numbers on the lira, which are quite outdated. My article on Qatar putting up $15 billion for Turkish financial institutions, a huge turn of events, got throttled by the Google search engines with little readership here and elsewhere on the Net.

That confirms how closely the major search engine players and social media giant move with the power structure tides. That is one of the reasons why I decided to work the “terror” word into the geo-economic vernacular.

I pose we have crossed over the river for sanctions being used as a mega terror weapon, the double load of buckshot kind with a pump action. This is unipolarism on steroids.

Is he sweating bullets?

And last, we always carefully watch for key goofs when these temperamental leaders are under stress, when things are moving fast and staff people are clearing speech texts in a hurry.

Erdo’s was his saying this week that Turkey “had rushed to America’s help whenever necessary” in various times, from the Cold War to the more recent conflicts in Afghanistan, Iraq and Syria.

He confirmed what we all knew, that Turkey has supported the US-Coalition proxy terror war on the Syrian people, with the cruel twist that it is also a guarantor of the NW Syria ceasefire, and both Russia and Iran have been silent about it.

There are no angels on the political scene in any of this sad story. Below I have washed some of Erdogan’s dirty laundry and hung it up to dry. We will see how Google responds to this one … Jim W. Dean ]

Jim's Editor’s Notes are solely crowdfunded via PayPal
Jim's work includes research, field trips, Heritage TV Legacy archiving & more. Thanks for helping. Click to donate >>

– First published … August 16, 2018

The US continues to play its poker game of “Economic Show Down” with a growing list of unhappy countries. We are at the point where we might soon see a call to rename the US… to the United States of Sanctions, the USS.


Turkey is getting most of the publicity now with its currency and economy under assault. The sanctions professionals sought out a fertile weak spot, that Turkey had used a tried-and-true method of bolstering an economy via debt.

That may work in the short run and for keeping people happy before the last Turkish election, but sticking your debt neck out makes you a bigger target for having your currency and economy sold short.

Turkey joins the EU, Russia, China, Canada, Iran…the list keeps growing, under a semi false-flag of trade imbalances. I say that not tongue in cheek, but because with America’s debt over $20 trillion, the potential revenues from a successful trade war would only put a dent in the budget deficit. Trump knows this.

Why was there no one concerned about these trade deficits for the past 20 or 30 years? Why no concern after 9-11, when the US began hemorrhaging debt with huge budget overruns, later followed by our own pump-and-dump real estate boom and bust that brought our banking system down?


Maybe it is because the US is angry that its unipolar coup was not successful; and its plan to carve Syria went up in smoke, literally; and its plan to turn Ukraine into a front line NATO state was not only unsuccessful, but left the country on life support. Yemen, under attack by the West, will not surrender. Mexico will not pay for the US border wall, and Iran refuses to meet with Mr. Trump.

It reminds me of a famous line from the American comic, Rodney Dangerfield, “I just can’t get no respect!”

China refuses to back off of even giving up extorting US companies to give up all of their patent rights on anything they manufacture in China. Although Veterans Today has been a huge critic of Trump, we have supported his sanctions on China, as China has effectively been sanctioning US companies for a long time.

When China was buying a huge chunk of our annual debt, one could understand the tradeoff being made there, but China is no longer buying US debt. It is buying foreign companies and gold.

I am suspicious that the hand around Turkey’s throat is a demonstration to others of what can happen to them, despite Turkey being a US, European and NATO ally. It’s almost like the US is taunting Turkey and Mr. Erdogan over his “win” in the elections by pulling the economic trap door under his feet to listen to him howl; and howl he has, playing the victim to a degree we have not seen before.

Of course Mr. Erdogan will not accept the Syrian people playing the victim. He continues to keep the militants and terrorists in Idlib province well supplied. Certainly the US has not disapproved of that, as it denies Assad a complete victory. But the Pentagon is unhappy with its Kurdish Kaper currently twisting in the wind.

Sure the US-backed Kurdish forces have taken a lot of oil fields from Syria. But they have no logistical power to export those resources. They are just a bargaining card for future autonomy. While we hear almost nothing anymore about the Kurdish insurrection that happened in Turkey, we do hear endless threat mongering from Erdogan over the big Kurdish bogeyman in NE Syria living off the American taxpayer preparing to invade Turkey some day.

Turkey is friends with a long list of countries on the US target list. And they all have been talking a lot about working closely together to build a common defense against US sanctions, something that VT has long editorialized would be a natural response to US economic thuggery and boomerang on the US eventually.

Who would be a better target of economic decapitation than Turkey in order to throw a monkey wrench into the anti-US sanctions movement building worldwide? Are we witnessing a preemptive strike to terrorize the Treasury Departments of those other targeted countries?

Salman Rafi Sheikh at NEO has covered Turkey’s shift toward China in his last article, as it was an untapped source for Turkey. But I disagree that the Silk Road will have anything to do with who wins or loses the current mega trade war. The Silk Road is a long term project, and a lot of geopolitical beheadings will take place before it becomes a gravy train for those along its route.

If Erdogan goes down, he is going down swinging. His political party’s legal supporters have moved to sue American officers at Incirlik base for aiding and abetting terrorists in Turkey. With all the aiding and abetting of terrorism that Erdogan has done in Syria, I would have counseled him not to wave that bloody flag.

Incirlik

Turkey has a long history of geopolitically playing both sides against the middle. It played a key role in looting virtually all of Aleppo’s industrial equipment that was all ripped out of the factory floors and trucked to Turkey, to end up in the hands of, I am sure, Erdogan party supporters.

We know of Turkey’s buying ISIS oil in an operation so big it could be seen from the moon by an astronaut with a child’s telescope. US pilots were telling VT early on that they were not allowed to bomb these oil tanker convoys when they are the kind of target that fighter bomb pilots dream of.

VT also discovered that, during the time when Erdogan was making nice to Iran and Israel, he was letting Israeli Air Force planes conduct practice bombing runs over geography similar to what Israeli pilots would face when penetrating Iran’s air defenses.

Not all the Israeli planes returned from those training missions, with some staying over, being shuffled into Georgia and later Azerbaijan for prestaging for use in an attack on Iran’s nuclear facilities. Israel’s threat to “go it alone” was not all bluff.

Gordon Duff and I knew that Israel would want to have bases on Iran’s border for air search and rescue for any downed pilots, and also a drone base for surveillance missions. We decided to go looking on Google Earth one night, and it took us only about 30 minutes to find the drone base.

It was in an isolated section on a western Azerbaijan base with its own hanger and access road, with the giveaway being a worn spot in the grass that drones would be using to make night take offs and landings. At the time, Israel was a big customer for Azerbaijan oil, with Baku buying a lot of Israeli military equipment.

Erdogan with Qatar’s Emir, Sheikh Tamim bin Hamad al-Thani

On the plus side, Turkey was a big help to Iran during the crunch of the sanctions with a huge border traffic in needed consumer goods, and also in gold trading that was converted to hard currency in Dubai banks.

The same banks were popular with US Congressmen on summer junkets to convert their collected gratuity cash into bearer bonds before their stopover in Switzerland on the way home. But the American press would never dare touch stories like these.

While we feel empathy for the Turkish people, a case can be made for the old saying, “Be careful what you do unto others, that they may do unto to you”.

When Erdogan asked his people to sell their gold and buy lira, he knew he was asking them to throw themselves onto the funeral pyre; for if he did not survive the current crunch, he did not care if they didn’t.

Turks are not stupid. They never have been. If they have a hard currency stash, they will conserve it to save their families, as that is their main responsibility. As for Erdogan and his ruling party, saving the country is their responsibility.

Jim W. Dean, managing editor for Veterans Today, producer/host of Heritage TV Atlanta, specially for the online magazine “New Eastern Outlook”.

13 COMMENTS

  1. Jim,

    Mark my words that from the coup onwards the Erogan is being set up by Illuminati/deep state to be the Antichrist, now that MBS “black-flagged and black dressed hordes”, mentioned in the Koranic equivalent to the Biblical Book of Revelation, have failed.

  2. Jim, I thought today’s Moon of Alabama article “New Interests Join The Clash About North-East Syria” complemented your NEO article on the topic very well. Also the Zero Hedge article “ Is Turkey A Harbinger Of A Global Debt Crisis?” of the same date, gives a wider analysis on the possible global economic development that the current Turkish crisis may very well point to.

  3. Does any other Veteran find it ironic that
    when a Country speaks out against Israel
    they are sanctioned by the United States?
    Is this what We have become:
    A Bully for Israel?
    Is the United States of America merely a defender of the Israeli Empire?

    • If you remember what happened to the USS Liberty, you know that we are not just a bully for Israel, we are Kamikaze warriors who will SACRIFICE our soldiers, SURRENDER our money, and BETRAY our ideals, to keep that Comic-Book, Super-Villain, Legion of Doom FORTRESS from getting what it deserves.

      I’m not a Vet Sarge, but I’m grateful to all those who serve. Whether or not combat was necessary, our soldiers made SACRIFICES in their lives.

      Thank you.

      Even if America wises up and abandons our INSANE policy of supporting Israel, they will find another country to do their evil bidding…

      Have the Rothscheisses infiltrated the Chinese Banking system, yet? They may take over as Israels “Golem”.

  4. Well, Turkey is Turkey. We had 300 years of war clashes with them. And kicked their ass. Nevermind. Turkey is just one of the countries, who, offended by USA immediately rush into sharp ways. Dollar system works well and during long time. If we want to change it, we have to create another model of economy. It will take time and, of course, will meet hardships. Those naive guys who laughs at US Debt 20 trln or something and wait for the crash of US dollar system – they hardly understand that it will be not only USA problem. This financial hurricane will crash all countries.

  5. Long time bad boy ally Turkey, has switched sides. After the narcissist in charge goes to dictator heaven, Turkey will switch sides again, to whomever offers the best package. Graveyards are full of past American puppet dictators.

    • Erdogan dreams about Sultan throne. Sounds gokd or bad for the Turks, but we know the price of their words. The price, nowadays, is equal to USA’s words. Try to trust and at any moment you risk to get knife in the back. But Washington is the champion- they not only can betray, kill, refuse, lie, – but also expose themselves as cheap clowns and even don’t hide it. How do you call a person that never keeps his words? In Russia we say: Balabol (and it is not the worst word, you can use it easy).

    • Balabol, thanks for the word; even people that can dish out the bull-shit; like me, are not balabol. The difference is my opinions are not etched in stone; and I am willing to listen to others. In fact, it`s the feedback that I welcome, that helps me expand my knowledge base.. Andy as always, Spacibo.

  6. Although the US is also overloaded with debt, the USA has one giant ace in the hole for this game, the fact that most of the foreign-currency debt held in the world – tens of trillions – is denominated in ‘dollars’. This is true even for China, whose 3.5 trillion in gov ‘reserves’ is a mere fire extinguisher for 30 trillion of foreign supplier etc. debt involving Chinese companies, desperate for ‘dollars’ as China’s trade starts to fall off.

    So for one final big rodeo – a couple of years maybe – the USA can ride the King Dollar bronco, given that the rest of the world needs ‘dollars’ to pay their int’l debt trillions. … until the day comes when there is general default on international debt altogether, and then the USA party is over too. But until that day, the USA with its ‘dollars’ can call the tune. It’s ruthless, but the Powers That Be can achieve a lot in an 18 month King Dollar surge … including maybe crash China, set them back a decade and spark unrest there … to go along with the upheaval we may have in Europe & North America.

    • It’s not just the debt. The Dollar has become the standard — the Microsoft Windows of currencies.

      Here’s an example of how pervasive the Dollar is: If you want to import $100,000 of goods from China into the UK, you cannot find a London bank to sell you Yuan, and the Chinese will not accept British Pound. You cannot conduct a transaction in one of the World’s great financial centres — London — between a currency that dominated World trade for centuries — and the currency of the second largest economy on Earth. I challenge you to prove me wrong. I have tried to several times. You can find a money changer shop at say the airport to convert small amounts of paper currency at extortionate rates, but you can’t conduct business between the UK and China in that way.

      You can, however, instantly convert your GBP to US Dollars and instantly make a dollar payment to your Chinese supplier with an iPhone app — while laying in bed, for zero commission, and a 20 tick spread. You will then get spam emails and phone calls from any number of Forex companies begging you to use their app next time. Ask these same Forex guys to see if they can convert GBP to Yuan and they say they should be able to, they might be able to, they think they can, and will check with their boss and call back. When they call

Comments are closed.