tommy1808 wrote:Tkfan wrote:Lets try again.
https://deutsche-wirtschafts-nachrichte ... chen-lira/
Without trying to discredit the source, can you show me whats wrong with the article/its content???
Aside of the fact that your train of thought is much akin to a strawman argument since I never claimed the content was wrong, most importantly, it doesn't say what you apparently think it does.
It gives the exact same reason as the manager magazine article you used to like: Turkish people fled out of the Lira, but at some point they will have to stop doing so and buy Lira, because they got invoices to pay in Lira. Please do notice that they don't talk about stability or confidence returning to Turkey, but simply that Turkish people need the currency to go about their daily lives.
They also go as far as calling the rise of the Lira a bet, i.e. they don't even claim that there may be a substancial reason for the Lira to gain in value, aside of its position in terms of PPP. Which btw. is a pretty strong indiction that lack of trust and stability keeps the current down.
DWN style they add in some banker voices, that sound pretty nice if quoted out of context, while with the context it sounds more like those banks bet on a rising Lira, they pretty much said so, and such stetments are a fairly old trick to create a trend. And the trend is your friend. In case you haven't noticed, banks are not in the business of giving out their best investment advice for free.
Aside of the whole text apparently being designed to create a false impression, lure many people on the website to generate revenue for them, it is a click bait site after all, and turkish people with well developed national pride can be relied on to share that article, the barebone content is not wrong. They are in deed quite clever at that.
WOW. I am impressed!!!
You can do a critical analysis if you want!! And I have to say I agree to most of your points.
I quoted m-m just for that one reason: people need to excuse themselves when they want to say something positive about Turkey
"we dont want to be seen as fans of Erdogan, BUT....."
Otherwise I didnt agree to the article and was a bit sceptic.
On the other side dwn gave the exact same story with figures which made the story more accurate.
But still I was sceptic because at that time TLY was already overvalued and ~10billionUSD capital influx has no impact when your monthly trade imbalance varies between -5-10billion USD (Jan-Aug - 45billion US $).
Investments in stocks and goverment bonds is fluid as water, today its here tomorrow it can be in Venezuela.
And as you said, coming from speculators, makes it not really truthworthy