This Is Where The Next EM Crisis Will Start

“Fragile Five” and “an alternative version of monetary policy reality.”

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‘Do Something!’

And that, folks, is the week.

Roasted Turkey: Of Gold Traders, Runaway Inflation And Angry Autocrats Named Erdogan

“…when Erdogan met with Biden a year ago, he claimed bizarrely that Preet Bharara was a Gulenist tool.”

Fireworks.

“…or what counts as ‘fireworks.'”

Trader: ‘You Don’t Always Get Something For Nothing’

“Traders like to blame all the world’s ills on central bank behavior and then scream when markets act like markets. Or their machines act like robots.”

Risks Aplenty.

And now, back to your regularly scheduled programming…

Stocks, Bonds Plunge In Turkey As Spat With U.S. Spills Over

Late Sunday evening we explained how Turkish autocrat and genocidal goblin, Recep Tayyip Erdogan, has engineered a diplomatic crisis with the U.S. by effectively taking hostages and demanding the extradition of arch nemesis Fethullah Gulen in exchange for their release. Well…

Lira Collapses Most Since Coup As Gulen Witch Hunt Triggers Diplomatic Crisis With U.S.

This of course stems directly from Erdogan’s ongoing efforts to bring arch nemesis Fethullah Gulen to “justice.” Pretty much anything that goes wrong for Erdogan gets blamed one of two things: 1) a Kurdish conspiracy, 2) a Gulen-linked conspiracy. This latest spat with Washington is no exception. 

Powder Keg Alert: Kurdish Referendum In Focus As Erdogan Threatens Oil Flows, Military Strike

“Our military is not (at the border) for nothing. We could arrive suddenly one night.”

Geopolitics! Won At 4-Month Low, Lira Sinks, Trump Says ‘Very Severe’ Shit Is Goin’ Down

Well, the won is at four-month low against the dollar on Thursday because, well, because a mushroom cloud over Seoul isn’t an entirely far-fetched proposition. “The won is under pressure as it appears North Korea is getting closer and closer to its nuclear program and that is causing tension and apprehension in the Korean peninsula,”…

Turkey Bans Singing After Dark As US Investors Dump Most Turkish Stocks Since September

Turkish President — and man who thinks democracy is really, really fucking overrated — Recep Tayyip Erdoğan has heard all the folk song Karaoke that he cares to hear, which is why on Friday, he banned singing.

Photo Of The Day: Arriving In Style

“Air Sultan”…

“Turkish Delight”: This Hasn’t Happened Since October 2013

Now I don’t know why, but a whole lot of people have gotten it in their heads that Recep Tayyip Erdogan’s recent referendum win (which, you’re reminded, essentially made him Sultan) is a positive development for Turkey. This despite the fact that the consolidation of power in a newly reconstituted (both figuratively and literally) presidency quite…

Video: Priebus Says Trump May Change Libel Laws To Punish Media

“Whether this gets executed is a different story”…

In Truly Absurd Move, Turkey’s Erdogan Bans Wikipedia, TV Dating Shows

“”In radio and television broadcasting services, such programmes in which people are introduced to find a friend…. cannot be permitted.”