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Erdogan: “We need to smash the dollar monopoly once and for all”

Sep 10, 2018 9:39 am By Robert Spencer

For years I have been calling for a reconfiguration of our global alliances based on the realities of the jihad. Here is one more indication of why this is necessary.

“Erdogan Urges Turkic States To Smash U.S. ‘Dollar Monopoly,’” by Nargiz Mammadli, Caspian News, September 8, 2018 (thanks to Joshua):

Turkey’s President Recep Tayyip Erdogan called on Turkic states to pursue non-dollar transactions in trade, accusing Washington of behaving like “wild wolves,” during remarks made at the recent Council of Cooperation of the Turkic-Speaking Countries, also known as the Turkic Council, held in Kyrgyzstan.

“We must take decisive steps to increase and expand our trade and economic cooperation and must understand that the dependence of international trade on the U.S. dollar is an obstacle,” Erdogan said on September 3 while addressing what was the sixth summit of the Turkic Council, according to reports by Kazinform.

“We need to smash the dollar monopoly once and for all, using our national currencies for mutual settlements,” he added.

President Erdogan attended the one-day summit along with leaders of other Turkic states, including Azerbaijan, Kazakhstan, Kyrgyzstan and Uzbekistan. Hungary’s Prime Minister Viktor Orban also attended the summit, where he said that Hungary is ready for the opening of a new chapter in Hungarian-Turkic relations.

Erdogan’s remarks came on the heels of the Turkish lira, Turkey’s national currency, falling by 18 percent on August 10 – a tumble so steep that it passed the record low from 2001. At that time, Turkish citizens were urged to sell their dollars and euros in a bid to save the national currency.

The lira collapsed once more after U.S. President Donald Trump announced that the United States would increase tariffs on Turkish aluminum and steel to 20 percent and 50 percent, respectively. Ankara has responded in kind with similarly sized tariffs on American-made products imported into Turkey….

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Filed Under: Featured, Turkey, United States Tagged With: Recep Tayyip Erdogan


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Comments

  1. A_M_Swallow says

    Sep 10, 2018 at 9:59 am

    I hope the other countries listened politely to Erdogan of Turkey and had the common sense to ignore him.

  2. Ole Pederson says

    Sep 10, 2018 at 10:18 am

    The US dollar monopoly (on oil for example) indeed is the basis for US imperialism and modern colonialism.

    However, I do not prefer Erdolf’s Turkish imperialism. Considering, that any nation declaring their intent to deal oil for other currencies than US $ in the past had been swiftly bombed back to stone age by the US (eg Libya, Iraq), I am curious to what will happen to Turkey.

    I will open a box of popcorn!!

    • Westman says

      Sep 10, 2018 at 12:55 pm

      The value of the US dollar is not primarily based on oil sales, rather, it is upon US political stability; which is declining as political polarization sets in due to disrespect for the founding principles of the Republic.

      The left no longer is willing to live by the founding principles and see themselves, delusionally, retaining their freedom and prosperity while shifting toward the heavy socialism and collapsing sovereignty of Europe. Delusion is the common thread of socialism and Islam.

      The instability of most Muslim nations prohibits investment and trust. Erdogan, speaking from the induced fantasy of Islamic thought, is clearly delusional; calling for the ocean to be drained as his ship sinks.

    • Clive Stephen Delmonte says

      Sep 10, 2018 at 3:00 pm

      I think you’d have to be nuts to accept business in Turkish lira, given the humungous rate of inflation in Turkey and the precipitous rate of fall of the exchange rate of the Turkish currency against Western currencies..

    • gravenimage says

      Sep 10, 2018 at 11:53 pm

      Ole, this is silly. This is not imperialism; no one is forced to use the US dollar. As Westman notes, it is often used because it is a very stable currency.

  3. Gjallarhornet says

    Sep 10, 2018 at 10:21 am

    Something tells me Turkey’s days in NATO is numbered. This is not written out of fear nor is it expressing any hope. Just as a matter of fact. Seems like time’s up.

    • gravenimage says

      Sep 10, 2018 at 11:54 pm

      I hope so., Turkey is no ally of ours.

  4. Tom says

    Sep 10, 2018 at 10:47 am

    The vast majority of those countries involved in this “Council of Cooperation” with Erdogan are happy to accept the dollar in many ways like, international aid. Are they also willing to forgo the benefits of the free dollars that flow into their countries in aid packages.

    Erdogan is attempting to rebuild the Ottoman Empire with the assistance of other Islamic nations and using deception as his main strategy.

    If he can build a strong enough alliance then he can directly threaten the west with an Islamic invasion.

    After all the millions of Muslim migrants that have already landed in the west are just the “softening up” phase of his master plan.

    “Assimilation is a crime against humanity. There is no moderate or immoderate Islam, Islam is Islam. The mosques are our barracks, The minorets are our bayonets, The cupolas our helmets, and the faithful our soldiers.” Tyyip Erdogan, President of Turkey 2008.“

    By his own words his army includes every devout Muslim.

  5. Rarely says

    Sep 10, 2018 at 10:48 am

    Of course. Replace the US dollar with the Turkish lira as the base currency for international trade. That will calm things down. Should be an easy sell. LOL

    • Westman says

      Sep 10, 2018 at 1:04 pm

      Yes, what could go wrong? The EU countries could pay NATO with lira purchased on the currency black market!

  6. Ray Jarman says

    Sep 10, 2018 at 1:47 pm

    No Recep. The answer is not to destroy the U.S. dollar. The answer to the civilized world is to completely eliminate the sub-humans who belong to the pernicious perfidious cult of the pedophilic mass murdering monster from the face of the earth.

  7. ibrahim itace muhammed says

    Sep 10, 2018 at 4:19 pm

    Erdorgan is hitting the real target as Russia,China and Iran already did by dumping the Dollar in international trade. Many European and bric countries are now planning to do the same to isolate hegemonic evil United States. Note:savage mad devil Trump has even threatened to go to war with the whole world to maintain that idiot hegemony over international community. Can he win the war?Remember ,that fraudulent Petrodollar system giving the economy of evil United States double advantage has already collapsed. Even OPEC has started dumping the Dollar as the only currency acceptable in payments for oil and that has started having adverse effects on the economy of evil United States. Savage mad devil Trump is now in dilemma knowing well that his clueless policies are suffocating the economy of the evil United States from recession to depression. States like California are now thinking of pulling out of the evil United States. will Americans continue to allow this madman to kill their economy?

    • Westman says

      Sep 10, 2018 at 6:25 pm

      Swallowing the Islamic Kool Aid, as usual, Ibrahim? Allah hasn’t raised his head since the 1920s despite all of the ackbars. He allows Shia and Sunni to kill each other without as much as a rollover moment in his sleep.

      Which country has the lowest unemployment? Which nation has a job for anyone actually willing and able?

      You’ve got it entirely backwards. The dollar is the standard unit for exchange because of the economic stability of the US; which is much greater than any majority Muslim nation can hope to be. Erdogan is in the process of getting a real “American Slap” in return for his threatened “Ottoman Slap”

      Islam is a time robber and time is money. No Muslim country can become the world’s economic leader by following Islam’s rules of interrupting work, education, and, generally, life, 5 times a day and borrowing money without interest. Just like heavy socialism and communism it destroys incentive to produce.

      You don’t get it – Islam is a tax on life, for both the believer and the dhimmi.

      There will never be another real Caliphate. It’s too late to marry the competing factions of Islam – they won’t allow it. Islam is stuck in a time warp while the world moves on. Maybe it’s time to give Allah a poke; after all he listened to Muhammad to reduce prayers from 50 to 5 – why not you?

      • Brian hoff says

        Sep 10, 2018 at 11:06 pm

        The america empire is starting to collapsing than other nation know it. China unload the dollar as it fear the dollar will be worthless in the future.

        • Brian hoff says

          Sep 10, 2018 at 11:50 pm

          At the late roman empire there where only two money system the gold one and the lesser metal one. There was no fix exchange rate between the gold one and the lesser one. The government refuse to take lesser coins as payment of taxes only gold was use. That destory the roman economy in the long term. Which lead to the end of the western roman empire. The america dollar isnot back by silver or gold anymore.

        • gravenimage says

          Sep 10, 2018 at 11:59 pm

          Is “Brian hoff”–really, “DefenderofIslam”–claiming that the inflationary Turkish lira is more stable than the US dollar?

          And of course he hopes the US is collapsing–he has said before that he wants to impose brutal Shari’ah law on us. What a thug.

          As for China, back in March we were seeing headlines like, “China Prepares Death Blow To The Dollar”. By June, the headlines were reading, “China’s yuan is falling against the dollar”.

        • Westman says

          Sep 11, 2018 at 12:56 am

          Good grief Brian, you have the horse before the cart. Rome’s economy fell because they took in the “barbarians” who only integrated in terms of low employment and not culture. Seem familiar?

          This scare mongering over precious metal backing of paper money makes little sense. Without a robust currency, electronically transferred, US and world businesses cannot grow. Tell us where you’ll get 1 Trillion and 673 Billion dollars of gold or silver to back the currency of the US. Just like Islam, metal-backed currency is a relic of the past.

      • gravenimage says

        Sep 11, 2018 at 12:04 am

        Good post, Westman.

    • gravenimage says

      Sep 11, 2018 at 12:03 am

      What a load of tripe from Ibrahim itace muhammed. Too bad for him, the US economy is booming. As for California; I live here. There is no movement in the state to pull out of the US. It is just the same grumbling you hear from a few fringe types–not much different from the handful of Texans who talked about succeeding when Obama was in office.

    • SJ says

      Sep 11, 2018 at 6:38 am

      Ahhh…it’s the Delusional and JEALOUS MUSLIM raging on about the evil US. But, what is evil in this world, this planet – is filthy dirty RACIST HUMANOPHOBES like you and ISLAMIC SUPREMISTS like you! And let’s not forget PAEDOPHILES like you…and your low IQ peeps. By the way, do you NOT understand that you are the DECENDANTS OF APES AND PIGS? Although, pigs and apes do not MURDER others and fight petty fights. They also do not complain and whine about Everyhing in their lives. They are also not UNGRATEFUL.
      Never have seen a cult like yours that has a COMPLETE LACK of generosity and is a BEGGAR OF WESTERN MONEY. Beggars cannot be choosy. Go back to your rock and crawl under it. The world doesn’t want or need you.

  8. Older Canadian says

    Sep 10, 2018 at 4:31 pm

    Perhaps I have missed something but why is Hungary becoming cozy and wants to break bread with Turkey and their offshoots?

    • gravenimage says

      Sep 11, 2018 at 12:06 am

      This is terribly foolish, Older Canadian. I though Hungary was pretty sharp when it came to the threat of Islam.

  9. Indiana Tom says

    Sep 10, 2018 at 8:38 pm

    Turkey’s President Recep Tayyip Erdogan called on Turkic states to pursue non-dollar transactions in trade,
    Not happening. Too many nations and people are using dollars.
    The Dollar sort of sucks, but the alternatives are even worse.

  10. jack reynolds says

    Sep 10, 2018 at 10:19 pm

    Has anyone else been wondering why Turkey does not withdraw from NATO? It will be tossed out soon enough, but until that day it is hanging on to its membership. The difficulty for Erdogan is that he has no idea of what Putin and Trump agreed to. Messing with the 2 largest Christian countries in the world, at the same time, was a HUGE MISTAKE on his part. If you doubt that, look into the matter of what actions the U.S. and Germany took, after that Russian jet was shot down. Keep in mind that Germany is/was Turkey’s oldest ally.

  11. gravenimage says

    Sep 10, 2018 at 11:49 pm

    Erdogan: “We need to smash the dollar monopoly once and for all”
    …………………….

    Well, this is hilarious. It was when Erdogan dumped the dollar that the Turkish economy started to go into free-fall in earnest.

  12. Brian hoff says

    Sep 11, 2018 at 6:33 pm

    Westman you are wrong roman empire was going thought depopulation like japan is going thought today. So the rome empire have no choice to allow the germany tribes into the empire to do the work in the field to feed the empire people in fact 90% of the roman empire population was involved in food production. Many germany tribeman own they land. The big land owner of the empire where the member of the upperclass the small farmer have to turn to for protection from tax collecter. Many of the germany tribeman effect roman way and where roman than the poor roman class people. The empire need germany tribeman to serive in they military and many became rome general and hight ranking government official. In the late roman empire there was than law that stop you from leaveing your trade even if you where loseing money or travel to than other place to work your trade this law was unenforceable. Then the late roman empire have price and wage law which didnot work. The money of the roman republic and early rome empire was mostly sound. The coins of the cival war period of rome empire where debased by debase the coin will have than mark of value of 97%silver but was only 20%silver in it. In fact the germany tribe save the people of europe from than corrupt and government that was decaying.

  13. Proud Kaafir says

    Sep 11, 2018 at 11:05 pm

    Nowadays he is very friendly with Putin. When Putin kicks on his ass it will not be like Trump. He will never be able to sit after that.

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