Iran’s rial, Russia’s ruble and Turkey’s lira are disintegrating despite a rush into risk elsewhere in world markets. Stocks and commodity prices are jumping after Chinese leader Xi Jinping’s statesmanlike speech last night, but the Unholy Three are faring badly.
Western countries engineered a collapse of Russia’s ruble (which usually trades with oil prices) by imposing sanctions that prevent targeted companies like Rusal from obtaining foreign exchange. Rusal may miss a tiny (US$13 million) bond payment this week simply because the sanctions deny it access to the financial system. Russia’s ruble has plunged as a result, from 58 to the dollar last Friday to 63 this morning.
Iran’s rial fetches 60,000 to the dollar on the black market, up from 35,000 at the end of 2016. Iran’s government has declared that it will hold the line at Rial 42,000 to the dollar, but state-sponsored foreign exchange dealers have stopped selling dollars.
Turkey’s embattled lira hit a new low of around 4.10 to the US dollar shortly after 8:00 am. Turkey suffers from 10% inflation driven by an enormous internal credit bubble, a current account deficit of nearly 6% of GDP, and a US$220 billion corporate debt load in foreign currency.
Is it a coincidence that these are the three countries whose leaders met last week in Istanbul to carve up Syria? Evidently the Western powers still have the capacity to make life miserable for aggressive regional powers who also need to borrow heavily from Western financial markets.
But hey will win the Syrian war and Israël will lose his hegemon. That’s why you didn’t yet an article about these attack ?
Regional powers? These regional powers are all much older than US/UK, on my globe they look much, much bigger, and combined they have at least five times the US population. When the US has "contained" Mexico, Russia, China, Iran, Turkey etc. then it could look as if the US has more like contained itself, as if I put up a giant fence around my lot to contain my neighbours. But yes, even though losing its wars, the West still has a capacity to make life miserable for others. Hooray. What does it gain the West to control the pipelines passing Aleppo, if it loses any more of its remaining moral advantage through all sorts of tradewars or opium wars. It would be more honest simply to go to war on Iran, and win, as you suggested many years ago.
Surely america and western powers heading towards dawnfall.american are frustrated and time is slipping from their hands.
What’s the problem by not liking peace let Iran recognise Israel, Turkey takes control of Kurds then Russia puts a transitional government in Syria and we have peace t
"three countries whose leaders met last week in Istanbul to carve up Syria". ???
https://www.google.co.in/amp/www.atimes.com/partition-syria-us-israel-eye-golan-heights-oil/amp/
If wishes are horses, beggars may ride.
Terms such as "Unholy Three", you call that journalism?? Perhaps, you need to put matters in proper perspectives and historical context so as not to appear ridiculously biased and the mouthpiece of this ruthless world bully.
This geopolitical strategy of destroying the currencies of sovereign countries whose "sins" consist of asserting their national dignity in light of the incessant aggressions and regional conflicts deliberately
created by Western superpowers under the cloak of "defending" their sly concepts of freeDAMN and demoCRAZY.
In the past, they had ruthlessly applied this malevolent tactic by creating the 2008 world financial crisis, and earlier the regional currency crisis that destroyed the economies of several Asian countries.
And, ah yes, the other tentacles of this Western evil force, posing as the "good guys"????,
e.g. the IMF, the World Bank, step in to offer economic recovery assistance loans laced with conditionalities and strings controlling the socio-economic and political policies of the embattled poor nation.????????????
With such unending selfish interests of the so-called richest and most powerful country in the world, having created so much destruction around the globe, e.g. extreme poverty, spread of diseases, terrorism, destruction of civilizations and cultures, massive population displacements, and even in its homeland, creating millions of homeless Americans, losing jobs, driven deeply in debt, etc. all because of the insatiable greed of their political leaders in their foreign wars and unlimited forms of aggressions.????
You’re right! Us can make other countries mesirable because that’s a part of their favorite game. They’re the invaders and destroyer of other countries like Panama etc. Especially MENA- Middle East Nations … Because of their GREED for G.O.D – Gold in Libya etc…. Oil in Iraq etc. Drugs in Vietnam and Afghanistan. The heroine poppies field of Afghanistan is Presently guarded by the US Marine troops…… But going back to stinking Ametica…there’s a thousands of their retired military men who’s homeless and hungry… That’s the Hypocrisy of America…
It’s time a UNITED ASIA be organize to counter the US and their western allies