As we enter the final trading day of the week, both political and economic events continue at fast pace throughout the world.
It can be seen that Turkey is one of the constant participants in a great number of meetings while the United States and Russia continue their active shuttle diplomacy in the Middle East.
It looks quite unlikely that the US can make a move in the Middle East without coordinating with Russians. However, there’s always the possibility that American intervention in the region can come via Israel. Continuing to carry out a clandestine relationship, Israel and Saudi Arabia have reportedly agreed that they have a common enemy: Iran.
As for Iran, It tries to hold substantive and continuous talks with Turkey. I think it doesn’t take a fortune teller to predict that things may get messy if Israel decides to launch a pre-emptive strike on Iran.
Most American experts with whom I found chance to speak during the 5G World Summit in London think that only a war can increase Trump’s approval ratings, which immediately made me think about the following quote by Ataturk, founder of Turkish Republic: “Personal interests stand in stark contrast to public interest. The duty of the State is not to allow the domination of some personal interests. Otherwise, the powerful and would tyrannize over the weak and helpless”.
I told them this and I emphasized that they have no other choice but to trust in America’s founding fathers, their vision for the future, and finally, in the Constitution.
Note: In Turkey, although the Central Bank’s steps to calm down exchange rates are really worthy of applause, in terms of creativity, yet they seem a bit ineffective given the current circumstances. As I always say, those in foreign currency denominated debt should wait for FX rates to fall down to buy currency.