Turkey inflation to hit 58% by the end of 2023 says Governor Hafize Gaye Erkan

Turkey inflation to hit 58% by the end of 2023 says Governor Hafize Gaye Erkan

Economy
The central bank of Turkey expects inflation to rise to the end of this year. The prediction and expectation of Governor Hafize Gaye Erkan are not good for Turkey economy. Turkey’s central bank with monthly and annual inflation rates announced that inflation has moved up the latter last month and it has gone up to 58.94%. The central bank of Turkey says that it was necessary to increase interest rates because of the surging oil prices. Turkish economy in last few years has weakened because of the accelerating costs and as we know last year in November inflation hit record high of 85.5%. Now it started to climb again and the prediction are not good. Economy and its currency lira is in trouble by looking at how many liras you…
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JP Morgan predicts the end of global reserve currency

JP Morgan predicts the end of global reserve currency

Economy
One of world leading bank JP Morgan CHASE analyzing BRICS de-dollarization by the countries of BRICS nation and come to the conclusion that U.S. dollar is at risk. The dollar is at risk of losing its global reserve status because BRICS countries started to trade in their local currency. The institute JP Morgan analyze predicts the risk of de-dollarization is a big knockdown to U.S. economy, as other currency will become the global reserve. “Some signs of de-dollarization are also playing out in oil markets. “The U.S. dollar, one of the key drivers of global oil prices, appears to be losing its once powerful influence,” said Natasha Kaneva, Head of Global Commodities Strategy at J.P. Morgan” Weaponizing the U.S. dollar through history was not a good example that is why…
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EU economy on the brink of collapse

EU economy on the brink of collapse

Economy
The war in Ukraine against Russia has crushed the European economy. The North stream pipeline who was destroyed, and who supply the biggest economy in EU Germany with gas has a great impact on their economy. We are seeing the prices spiking and inflation is growing. The European Union fight against it by pushing up “Euribor” and making the Loans expensive for economy in EU and outside EU countries. That means that growth in EU and countries who uses euro will drastically slow down. This war is hurting everyone in Europe but it empowers everyone outside Europe. People see changes but few can identify a big massive shift in power that moves away from USA and west to east, this all is happening right now. Russian president Vladimir Putin says…
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Michael Burry $1.6 billion bet against stock market

Michael Burry $1.6 billion bet against stock market

Economy
His predicting the big collapse of Wall Street and put a $1.6 billion bet that this is going to happen. The famous “Big Short” movie says it clear that we are starting to be scared about the upcoming future event after his new prediction. His bet against the S&P 500 and Nasdaq 100 downturn will make many investors worried. The more interesting thing is that Michael Burry bets more than 90% of his portfolio according to the information we have. After all Burry’s fund is also getting out its shares in numerous regional banks like First Republic Bank that was bought by JPMorgan Chase in May this year. We see one big player like JPMorgan Chase whose investments are huge and who by the predicting will lose a lot in…
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New BRICS currency

New BRICS currency

Economy
BRICS Birth of new monetary system What happened in last 10 years is that BRICS countries have prepared to make a new step in monetary system. The sanctions against Russia speed it up and now US dollar is facing devastated blow as a world reserve currency. As the US weaponized the global monetary system against Russia and China and other BRCIS nation. The BRICS nation turned against US dollar and now they have announced a new monetary system that will unfold to the end of this month. This birth of new monetary system is still unclear how it will work but by the look the dollarization of BRICS nation shows that they have complete trust in there new system. BRICS currency is something that many investors and people are look…
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Inflation in Europe

Inflation in Europe

Economy
Europeans are becoming poorer and the way it looks this is not the end of inflation spiking. The causes of inflation are high prices of energy and food. The politics and the energy shortages will make inflation bigger in next three mounts. Winter is coming and shortages of gas will make many houses to freeze, and many companies to close their business. The question is how long inflation will last. The European commission said that inflation would likely come down in 2024. Regarding the information we have it will last up to 2025. Why is EU facing high inflation? The war in Ukraine and sanctions against Russia will make it harder to recover from inflation in next two years. The EU lost cheap gas and oil from Russia and one…
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Africa countries trading in local curency

Africa countries trading in local curency

Economy
As we all witness the new economic crises in the world and wars between Russia and Ukraine that had an impact of world economy. Africa is trying to use their local currency to trade between countries. There has been a big conversion in trade because African countries have use US dollar to trade. Wamkele Mene, secretary general of the AfCFTA Secretariat say that we wane expand the trades to other countries and help local economies in African continent. The currency conversion in US dollars was more than 4.5 billion annually. Moving away from the US dollar is a big step in making local economies stronger and more efficient in trade. William Ruto the president of Kenya announces the „pan African payment settlement system PAPSS “. The PAPSS payment method across…
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