Monday, July 8, 2019

S-400's set to arrive in Turkey. US Set to Trigger Sanctions. Turkey’s Central Banker Fired

Erdogan and Putin
S-400's reported to be Turkey bound
ISTANBUL - The first of the Russian S-400 defense systems that Ankara has purchased will be loaded on to cargo planes on Sunday and arrive in Turkey some time next week, privately-held broadcaster Haberturk reported.

Washington has said that US sanctions would be triggered when the missile batteries arrive in NATO ally Turkey.
The initial S-400 delivery will be sent on two cargo planes from a Russian military air base, Haberturk said without citing a source. It also reported that a Russian technical team that would oversee its installation is expected to arrive in Turkey by Monday.
Washington has also formally started the process of expelling Turkey from the program for F-35s, made by Lockheed Martin Corp.
Sanctioning Turkey and removing it from the F-35 program would be one of the most significant ruptures in recent history in the relationship between the two nations.
Russian President Vladimir Putin and Turkey’s Tayyip Erdogan discussed by phone on July 6 the supply of Russian S-400 defence systems to Turkey as a deal that is in the process of being implemented, the Kremlin said on Monday.

The United States has said that U.S. sanctions would be triggered when the Russian missile batteries arrive in NATO ally Turkey. The first of the defence systems that Ankara has purchased will arrive in Turkey some time this week : Quoting reports from Haberturk.
"The preparations for the dispatch [of S-400 system] continue. The loading is underway. There are agreed dates for S-400 deliveries," the Turkish president said.
Arab Weekly
“It’s OK for Trump to hold hands with the Russians but not for Turkish President Recep Tayyip Erdogan. It’s a shameful unfairness but nevertheless understandable for two reasons”
Nah, double standards and hypocrisy are always just double standards and hypocrisy.
“The first is that cooperation and coordination between Washington and Moscow in Syria was not aimed against Ankara, while Moscow found in Ankara the perfect Trojan Horse through which it could slip into the Friends of Syria Group and NATO. Turkey sold out the Syrian opposition factions one after the other so it could occupy Afrin and parts of north-western Syria and sold the security of NATO’s southern border in exchange for the Russian S-400 defence system”
Perhaps coordination between Russia and the US was not aimed against Turkey? 
 BUT,  US coordination with Saudi Arabia, UAE, Egypt and the PKK was most certainly aimed directly at Turkey. Obviously Russia would be looking at a way to interfere in the situation.  Since the US double dealing against Turkey, including, but not limited to, the coup attempt made Russia a timely friend
 And, yes, Turkey did indeed pull it’s support away from the opposition factions. Most of them anyway. I've written on this repeatedly. No worries though the US, Israel. UAE, Saudi Arabia, Egypt and many others were their to take up any slack for the cause.
“The second reason for placing Turkey on the United States’ list of potential enemies is that Erdogan had gone too far in blackmailing the West. Both the Europeans and the Americans are fed up with him. At times, he would blackmail them for his own electoral and propaganda purposes. At other times he would blackmail them for some agenda in foreign policy”
Blackmail or political pressure? What a difference in perception those words have.
Now that matters have reached NATO’s borders and the national security of its member countries, the Americans and the Europeans have had enough.

“Turkey had a taste of Washington’s wrath a few months ago in the affair of American pastor Andrew Brunson. The Turkish lira collapsed under US sanctions"

*The Brunson spook situation was covered here last year.
“Erdogan is not only afraid of economic sanctions but also fears American support -- and European backing as well -- of the Turkish opposition against his rule and his party.”
*Recall my mention of the Istanbul election and likely meddling... ?
“The new technology of the S-400 can easily be tweaked to be more effective against U.S. technology and that tweak can impact U.S. military effectiveness across the globe,” wrote Halpern.

“Erdogan is a thug and a tyrant, but he is no fool,” he added. “The president of Turkey must be watched carefully – all eyes upon him. Erdogan is a fighter and this is just the beginning of his quest.”

 * Erdogan and his party, as well as the Turkish people, had better be prepared. 
 Rather then the beginning of a quest for Erdogan, this is the worsening of a situation/relations that has been steadily declining for years already
 It’s been years since NATO turned on their ally of convenience, Turkey.

should have the Israeli flag in that image too

Related and previously covered:

Saudi Arabia Offers Hefty Cash to Syria's Tribal Leaders to Support US-Backed SDF Against Turkey- Tripartite of Saudi/Israel/ Kurds under US Supervision created to pressure Damascus.

The Arabic-language al-Watan newspaper quoted special sources in Eastern Syria as saying that Saudi State Minister Samer al-Sahban in his meeting with Syrian tribal leaders asked for helping Kurdish fighters.

Several US officials were accompanying al-Sahban during his meeting with tribal leaders of Eastern Syria, it added.

They have offered to give a hefty sum of $50 million to them indirectly through local councils and also direct financial aide, the paper further said.

Mohammad al-Akam, a senior Syrian legislator, said that a tripartite coalition has been formed among Saudi Arabia, the Kurdish forces and Israel under the US supervision which pursues pressures on Damascus after gaining victory over terrorist groups, by separating the Northeastern parts of the country.

Sejari underlined that Saudi Arabia wants to pressure Turkey, warning, "All of us will be harmed by this measure."
Worth repeating.. Cause the facts of Israel being allied with the PKK, allied with Saudi Arabia all in bed with the US has been talked about for years and years. HERE.
" tripartite coalition has been formed among Saudi Arabia, the Kurdish forces and Israel under the US supervision"

Turkey Discharges one Central Banker and appoints another

I suspect this was done due to the financial warfare that’s long been waged against Turkey.

2018: The Sun Doesn't Rise Because the Rooster Crows: Turkey's Currency Crisis Created To Force an IMF Bailout
Murat Çetinkaya, the Governor of the Central Bank of the Republic of Turkey, has been discharged from office by a Presidential decree.
Central Bank former Vice Governor Murat Uysal has been appointed in his place.
The Presidential Decree was published on the Official Gazette on July 6. Accordingly, it has been stated that Murat Çetinkaya has been relieved of his duty as the Central Bank Governor as per the Additional Clause 35 of the Statutory Decree no. 375 and the Article 2 of the Presidential Decree no. 3.

About Murat Uysal (the new central banker)

Born in 1971 in Istanbul, Murat Uysal graduated from the Economics Department in English of the Faculty of Economics at Istanbul University after attending Galatasaray High School.

He earned a master's degree in Banking from the Institute of Banking and Insurance at Marmara University and earned his master's degree on Inflation Targeting and Inflation Targeting in Turkey and in the World.

Uysal started his career in banking in 1998, served as Specialist and Manager responsible for Foreign Exchange and Money Markets and Securities. Between 2007 and 2011, Uysal was Head of Money and Capital Markets. He acted as Deputy General Manager responsible for Treasury Management at Halkbank between November 2011 and June 2016.

Uysal served in the following posts simultaneously: Uysal served as a member of the Auditing Board of Halk Investment between 2008 and 2010, as a Board Member of Halk Asset Management in 2011 and as Chairman of the Board of Halk Asset Management from 2012 to 2014. He served as Chairman of the Board at Halk Invest between March 2015 and April 2016. Mr. Uysal speaks English and French.

Uysal, who had been acting as Deputy Governor of the Central Bank since 9 June 2016, was appointed Governor on 6 July 2019. (AÖ/SD)
The guy has the credentials for the job...

As is being reported the AKP government wanted interests rates lowered. The former central banker did not reduce interest rates

“In reference to Mr Cetinkaya, the president revealed: We told him several times to cut interest rates at meetings on the economy. We said that if rates fall, inflation will fall. He didn't do what was necessary.“
Most probably the AKP government wants to use cheap credit to keep the domestic economy running. Much the same as has been done here in Canada and the US.  Most of the ‘western world’ actually
“Later that day, Mr Erdogan compounded the damage by proclaiming that high lending rates were to blame for inflation.....”
“ (a view roundly mocked by economists)”
........Yet here in the west we’ve had extremely low interest rates combined with low inflation that has kept the domestic economy chugging along far beyond it's freshness dating. One wonders why economists are mocking Turkey for imitating the western economies?

From today- Businesslive- Damage to Lira Contained
Investors fail to panic

And with inflation seen slowing dramatically through September, Turkey’s real rate will stay attractive, even if borrowing costs are reduced.


  1. Interesting. Turkey bought the S-400 to insulate itself from Western military attacks and then changed its central banker to insulate itself from Western "Economic Hitmen" attacks!

    The real threat of the S-400 purchase is the precedent it will set if Turkey is "allowed" to go ahead. As I've said before...Build a better mousetrap and the world will beat a path to your door."

    1. GC "Turkey bought the S-400 to insulate itself from Western military attacks and then changed its central banker to insulate itself from Western "Economic Hitmen" attacks!"

      sounds about right GC!