Yesterday, the Turkish Lira suffered a substantial collapse in value prompting people to take to the streets.
Watch: Dozens of people take to the streets in #Turkey, calling on President Recep Tayyip #Erdogan’s government to resign, after the lira crashed by 15 percent against the US dollar.https://t.co/EiJG7wPNIN pic.twitter.com/mAOXJcixcF
— Al Arabiya English (@AlArabiya_Eng) November 23, 2021
This guy is estimating the Lira’s inflation to be over 80 percent a year right now.
Protestors are taking to the streets of Istanbul to demonstrate against President #Erdogan’s war against the Turkish lira. Today, I measure #Turkey’s inflation at 81.27%%/yr. Take a look.pic.twitter.com/QljkrIB5U8
— Steve Hanke (@steve_hanke) November 24, 2021
Apple has suspended sales in the country because of the collapsing currency.
JUST IN 🚨 Apple suspends sales in Turkey after currency Lira crashes
— Insider Paper (@TheInsiderPaper) November 24, 2021
Meanwhile, look at what is maintaining its value.
If you live in Turkey, #Bitcoin just keeps making new all time highs. Also on the chart is gOLDs performance relative to the lira.
Past year's performance:#Bitcoin: +378%
gOLD: +55% pic.twitter.com/a3F9h8OqLX— Preston Pysh (@PrestonPysh) November 23, 2021
All of these fiat currencies like the Lira will eventually fail. The US Dollar is not immune from this and will suffer the same fate. We are already seeing signs of this starting to happen with the rising prices, empty shelves etc..
Once the US Dollar collapses, you can expect all sort of chaos to break out around the world. Prepare yourselves accordingly.
