Analysis, Middle East, Side Feature
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Plots or Collapse in Turkey!

Are the recent events that took place in Turkey a war and revenge on the person of President Erdogan as he claims? Or is it intended to harm the Turkish Muslim character? Or is it an American anger for Rev. Brunson’s case? Or is it the product of a lie that the malicious media excelled in its decoration and described in the best possible way, so that the short-sighted viewer and the blind are amazed by it, and represented as the supernatural achievement by a unique man? To explain this we will quickly review Turkey’s economic situation after the destruction of the Ottoman Khilafah (Caliphate) and the division of its wealth.

It is noted that since Mustafa Kamal took power and his formation of the Republican People’s Party in 1923 until 1929, the Turkish economy focused on the accumulation of private wealth only. Between 1929 and the global depression crisis and until 1945, when Ismet Inonu took office after Mustafa Kamal, the economy focused on the accumulation of wealth in the global crises. From 1950 to 1980, there were successions in power, Adnan Menderes ruled, then there was the coup of General Cemal Gursel in 1960, and the return of the coalition government headed by Ismet Inono, and then the victory of the Justice Party led by Suleyman Demirel and then the period of military chaos followed by the victory of the government of Ecevit until the military coup in favor of Kanaan Efrin… This period was characterized by the production of liberal trade in goods and services and the transactions of financial markets, but the economy was lagging behind looking for development and reform relying on foreign borrowing; the debt reached in 1980 about $ 16.2 billion.

More than a quarter of the GDP, and then debt grew. After the coup d’état, in 1983, Turgut Ozal won a majority, and his successor after his death was Suleyman Demirel. Necmettin Erbakan won the 1995 majority with the Welfare Party; then the 1997 coup followed leading to the fall of his government. And Ahmad Najdat Ceasar took over, in this period the economy was affected by the Gulf War, where the oil pipeline of Kirkuk was stopped; Turkey lost 300 to 500 million dollars instead in oil transit fees, with a loss of 3 billion dollars as a trade exchange with Iraq in 1992. The government used ratings of Turkey’s credit agencies in the 1980s to attract funds to cover the deficit, International bonds in that period were 7.5 million, borrowing was encouraged. As a result, short-term foreign debt rose sharply, confidence in the government’s ability to manage debt was reduced, and in 1993-1994, the agency reduced Turkey’s rating due to mistrust; resulting in capital flight announcing a currency collapse, followed by the floating of the currency in 1999 until the Turkish lira against the dollar reached about 16.5 million.

During the reign of Necmettin Erbakan and Ahmet Necdet Sezer the economy was characterized by severe stagnation and high inflation, and the crisis of February 21st, 2001 took place, known as the Black Wednesday crisis. Ahmet Necdet Sezer accused the Ecevit government of shortcoming. He withdrew with some ministers, leaving a collapse of the Turkish currency, which increased the debt from the International Monetary Fund, and it increased the debt, which was 38% in 2000 to 74% in 2001, and the unemployment rate rose from 65% in 1999 to 10.4% in 2001. In 2002, AKP won with the leadership of Recep Tayyip Erdogan, he was unable to take over because he was banned from practicing politics. So Abdullah Gul took office and amended the constitution to allow Erdogan to be prime minister. In 2004, six zeroes were deleted and the new currency was called the new Turkish lira, which is worth one million Turkish liras, and here the political decision was mixed with the religious culture represented by Recep Tayyip Erdoğan. In 2007, the AK Party elected Abdullah Gul as its presidential candidate, but the elections were boycotted cancelling the first round, as the two-thirds majority did not attend, and Recep Tayyip Erdogan, took office, he was the first president to be directly elected by the people, and he won by 52%. And a new phase in the economy began, the fake Turkish economy, as the media is a powerful force in blurring the facts, and decorating it. We will display some of the figures.

At the end of 2013, the Turkish foreign debt amounted to about 388 billion dollars, at the same time Turkey was trying to get rid of the external debt. Is it possible for a country like Turkey, which has gone through political instability throughout this period and was living political conditions fluctuated by a hidden war due to its links of Europe, especially Britain and the United States of America until Recep Tayyip Erdogan came, and a few years he was able as he claimed to pay off the International Monetary Fund and all the debts of Turkey, how do we explain this?

In fact, yes, Erdogan’s statement was correct in terms of words, that is, the last installment of the debt owed by Turkey to the IMF was paid. This does not include Turkey’s debts owed to foreign governments, banks, financial and non-financial institutions; it also does not include global bonds. So many minds were manipulated. Of course, this behavior is unacceptable in the normal situation by the IMF and other financial institutions only with the approval and pressure of the US, and of course the interest has been greatly increased for these debts. America helped to cancel customs duties on Turkey’s exports to the United States and its linked countries; this is why Turkey’s exports in 2014 amounted to more than $152 billion, and this is not free of charge; it was for America’s objective of controlling Turkey completely, and its decision.

And to change its system from parliamentary to republican, this will only be achieved by the cunning Erdogan’s popularity, not to mention the use of Turkey and its territory for American plans, and to draw Erdogan’s character to be a beacon of guidance for the application of modern secularism that he spoke about as a successful experiment and a magic recipe. And so Turkey held the 17th place in the world due to this cunning plan, for good. The measures after the coup that took place to clean up Turkey from all that is not linked to America. This is included in America’s plan (cleaning up the Middle East from all the European and British, in particular, agents) and then Erdogan agreed to have an earlier date for the presidential and parliamentary elections, and this presentation was not accidental, but it was planned before its popularity diminished and Turkey intervened in great economic tribulations, as is happening today.

In late 2016, the Turkish Central Bank announced that the debts of Turkish companies in foreign currency amounted to about 210 billion dollars, while the turnover was more than 160%, which forces all companies to more borrowing or bankruptcy; because the turnover means every 100 dollars owed by these companies means that another 100 dollars have been borrowed, plus another $60. This is why Turkey’s biggest food maker, Yildiz Holding, owned by Turkey’s richest man, Murat Ulker, has announced an agreement to refinance $ 7 billion with his lenders.

At the end of March 2018, the Turkish Treasury Ministry announced Turkey’s total external debt of $ 553.2 billion, which exceeds half of the gross domestic product. The government is leading the companies to more borrowing, which has led to the fall of the Turkish economy and the deficit of the trade balance.

Therefore, the dependence of the Turkish economy on hot money (indirect foreign investment, including the purchase of non-resident securities, tradable derivatives and exchange on stock exchanges) is an ineffective policy in current account and real estate indicators, and economic policy makers should not trust the movement of hot money with short funding, not to mention its countless damage. Therefore, we find that the collapse of the Turkish currency is normal after the beginning of the lifting of US sponsorship. If this is the case, it may not be the lifting of sponsorship, but their deceit as we are used to them.

It may be against the European Union and its currency, because the Turkish lira is attached to the euro zone; it has loans of more than 150 billion dollars in Turkey, and thus we notice the banks of Spain, France and Italy were exposed to the crisis. This was observed, with Italian stocks decreasing 5.6%, BBVA of Spain 5.5%, Paribas BNP 4.3% and DEVTSHE BANK 5.3%. Everyone knows that Turkey is unable to bring money during difficult times to repay this debt; this led to an unprecedented drop of the euro against the dollar. Here is the question: Why does Erdogan insist on not raising interest rates, and prevents the Central Bank of Turkey from that, which reduced the interest rates a week before the crisis. Is it the key to the collapse of the euro? Or is it to show America’s new hostility to Turkey, to engage with one of the parties of the ongoing trade war; to be the eye and ear of the United States. These coalitions, which will soon appear on the international scene, America will try to force them into a military war. Thus, it exists from the financial crisis without being exhausted; and it will restructure the international financial system again in another form. Therefore, we note from Erdogan’s remarks that he is moving to the Russian-Chinese alliance.

In all cases, we and the world are aware of the United States’ cunningness and malice. The world will witness a collapse of the structure of the global financial system with the America’s push, which is also trying to create unrest at all economic, political and social levels to plunge the world into a devastating war, all of this is the product of the futile ideology based on usury, exploitation and the imposition of slavery.

Therefore, there is no solution for the world except to comply with what the United States is planning because they do not have a clear vision outside this abhorrent ideology. However Islam is coming, and we ask Allah (swt) to hasten the emergence of this divine ideology that brings the whole world out of this great crisis and restores rights to its people.  And leads the world to what Allah loves and pleases, and brings out the people from the injustice that has taken place (since the fall of the Khilafah State (Caliphate), which the Western world saw as an obstacle to the progress of greed and theft of the world’s wealth, and what we see of the welfare and civilization in the West, is only because of the theft of the world’s livelihood) to the justice of Islam.

Happiness is not achieved with more injustice, looting and lack of morality, and man remains the same in all the ages, and he needs a method from Allah governing the aspects of life in it. Allah knows us more than ourselves. We therefore appeal to all the sincere in this world and not just Muslims to stand up and curb the rebellion of this oppressor. The existence of a state as the Khilafah state (Caliphate) guarantees justice and fights exploitation, injustice and greed on mankind.

And we say to this Ummah join Hizb ut Tahrir, it is the only one capable of conquering the strongholds of injustice with its correct method, and we ask it to protect the men of this great party from the oppression of the traitors who sold the Deen for the world, and they became arrogant and fearless of Allah. Allah (swt) says:

وَمَنۡ أَعۡرَضَ عَن ذِكۡرِي فَإِنَّ لَهُۥ مَعِيشَةٗ ضَنكٗا وَنَحۡشُرُهُۥ يَوۡمَ ٱلۡقِيَٰمَةِ أَعۡمَى

“And whoever turns away from My remembrance – indeed, he will have a depressed life, and We will gather him on the Day of Resurrection blind.”

[Ta-Ha: 124]

 

Abu Mus’ab Nabil

 

 

Source: Al Waie Magazine Issue 386 – Rabii’ Al-Awwal 1440 AH / November 2018 CE

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