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million barrels of oil were seized, the rationale being that this was a small dent to offset the amount of Western assets that Venezuela nationalized without compensation.ģ. didn't freeze Venezuelan assets until 2019 after Chavez died and the economy had already collapsed.Ģ.
There are a number of things wrong with this statement.ġ. > Wouldn't stealing all the foreign assets of Venezuela by US and UK also affect the Venezuela economy? Not that you'll get a particularly good exchange rate, mind.
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Many shops on Edinburgh's High Street, for example, have signs in their windows saying they are quite happy to accept Euros or Dollars.
Having said all that, the largest denomination that's legal tender where I am (Scotland) is £1, filling up with fuel today cost me £100, and I'm not in the habit of carrying around that much loose change.Īlso, it's absolutely the case that a store where you receive the goods after paying for them may accept (or decline) whatever they choose. So while it would be foolish of the retailer to attempt to refuse payment in local currency, if you try to pay in legal tender then they are obliged to accept. In a restaurant where one pays after receiving the food and a petrol station where one pays after receiving the fuel, you have no way to give back what you've taken and leaving without paying is illegal. This quite possibly varies by jurisdiction, but at least in the UK they do have to take legal tender in the GP's case. A mayor purchasing insurance from his own son for 10 million $ a year is something that will entertain you for a few seconds as an interesting detail, what keeps coming is the mayor spending 1 Billion $ on dinosaur statues. Seriously, Turks are no longer impressed by sums less than a billion of dollars. Erdogan proceeded getting rid of everyone not supportive of his ideas and that's when stuff actually hit the fan.īTW, there's uncovered corruption on a scale unheard in history. He put his son in law in charge of the economy, things accelerated but he still had some rebels around him and they took the son in law out of the picture, stabilised the economy just before shit hit the fan.
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When he got free from any checks and balances he was free to implement his unorthodox ideas on economics. Then the hardcore political stuff began happening, Erdogan won the political fight to become a popular autocrat assuming all power in 2017 by changing the constitution through a referandum then winning the elections - all fairly. This will absolutely prevent any kind of bounce happening and psychological barriers to the currency have already been passed - meaning the currency (and with that the population) is likely to suffer further.Īctually, it was fairly stable between 2003-2013. In the case of Turkey it’s due to their recent decisions to lower interest rates despite soaring inflation (the opposite of good fiscal policy). The other issue is that currencies usually drop quickly but recover slowly, it takes time to undo the instability in the currency and then attract investment to strengthen the currency. Each company establishes their product margin and excess to that is not desirable - lost sales are invariably more costly than a small % gain in margin. Similarly they also lose sales to neighbouring countries - making price consistency important.ĭespite it not fitting the evil megacorp narrative, good business requires prices to follow the currency changes - but not super tightly as that’s also harmful to business and consumers alike. The fee was 10 liras at the beginning but now it's over 2000.Ĭompanies can’t be competitive, nor reach sales goals when prices are artificially high.
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Officially, the registration is to prevent terrorist from using the devices as burners. If you like to bring a device from abroad, you need to register the device and pay a hefty registration fee and you can do it only once in two years.
Turkey even pioneered the IMEI registration process where you can't use foreign device for longer than a few month in Turkey.
On the iPhones, the Turkish prices are never good due to very high taxation(about half of the price is tax). Only German and Arabic layouts are excepted due to some trade agreements. I bet a lot of people bought MacBooks just to re-sell.Īn interesting detail, in Turkey they are allowed to sell laptops with only Turkish keyboard layouts due to some law on protecting the language.
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I was also going to grab a Macbook Pro when the price dropped below the US price but I wasn't decisive enough and missed the opportunity. Apple had 2 days of no online sales but the sales in the shops continued until the inventory depleted. The USD$ went from 9.50 to 12.50 in a month and I believe the last adjustment they did was at 8.5.