Editor’s Note: Historians may well look back to today’s action in Turkey as the financial ‘shot heard round the world’, and the final death knell for the US Dollar. As you will read below, Turkey’s Central Bank increased its key interest rate from 7.75% to 12.00%, a nearly unheard of 4.25% increase in one fell swoop.
Should other, more powerful economic players follow-suit, the Federal Reserve will be forced to increase tapering beyond the $10 billion announced late last year; something that would devastate markets, and surely lead to a collapse of equity prices across the board.
The issue at hand is not whether Turkey is a significant global player or not — it’s ‘what will the rest of the world do now that the Currency War has officially begun?’
One last point: Some would say that the Currency War began long ago; I agree with that in some regard, but consider the American Revolution: It began long before Lexington Green in April of 1775, but that’s the date everyone remembered. While January 28th, 2014 will likely not equate to April 19th, 1775 once all is said and done (assuming some of us are left), one can be assured that the period of time we are living in right now is of the utmost importance should Free Humanity wish to survive the wrath of Bankster Scum and their satanic minions —
The much anticipated Turkey Central Bank Decision is out and it is a stunner:
- TURKEY’S CENTRAL BANK RAISES OVERNIGHT LENDING RATE TO 12.00% – this is the key rate, and it was at 7.75% until now, so an epic 4.25% increase, far greater than the 2.50% expected.
- TURKEY’S CENTRAL BANK RAISES BENCHMARK REPO RATE TO 10.00% – from 4.50%
- TURKEY’S CENTRAL BANK RAISES OVERNIGHT BORROWING RATE TO 8.00% from 3.50%
- TURKEY CENTRAL BANK SETS PRIMARY DEALER RATE AT 11.5% VS 6.75%
- TURKEY CENTRAL BANK RAISES LATE LIQUIDITY WINDOW RATE TO 15%
This is what a shock and awe move is. And it better work. This is how the revised Turkish “corridor” looks as of this moment: