TRY Collapsing Towards Hyper Inflation MMT Got It Wrong
Back on March 31 of this year I posted this charts below. Unfortunately I had tried to demonstrate the imamate collapse of the TRY
and posted the chart of TRYUSD instead of posting the correct ticker USDTRY. As such I marked long TRYUSD instead of Long USDTRY.
None the less the comments do not signal bullish for the TRY. it has lost 40% of its value in just days and 60% f its value in 3 years.
Since then the TRY has indeed collapsed and heading towards hyperinflation. As you can see in the comment Warren Mosler (father of MMT)
got it completely wrong that lower rates are deflationary and will strengthen the Lira. Just like the entire Modern Monetary Theory is wrong!
The cart does not pull the horse.
As I have said a million times before, Gov't can only print worthless digits, Gov't cannot print productivity. No gov't can print borrow and import
to economic prosperity. 148 nations since 1960 alone have proven this fact time and time again. It is a "Deficit MYTH" to believe Gov't can.
Most recently we have watched currency collapses in Lebanon, Sri Lanka and Turkey where millions of families will suffer greatly as a result
of bad MMT beliefs that Gov't can just print a currency at will and we can all have free this an that. it is very unfortunate that millions of people
must suffer in order to prove a bad monetary, economic theory wrong!
Warren Mosler Mike Norman Natasha Kelton and the #MMT crowd are the absolute wrong people to listen to when it comes to FX trading and economics.
Anyone who has been bamboozled into believing MMT and bought the TRY has been absolutely destroyed several accounts over. When theory meets reality!
and posted the chart of TRYUSD instead of posting the correct ticker USDTRY. As such I marked long TRYUSD instead of Long USDTRY.
None the less the comments do not signal bullish for the TRY. it has lost 40% of its value in just days and 60% f its value in 3 years.
Since then the TRY has indeed collapsed and heading towards hyperinflation. As you can see in the comment Warren Mosler (father of MMT)
got it completely wrong that lower rates are deflationary and will strengthen the Lira. Just like the entire Modern Monetary Theory is wrong!
The cart does not pull the horse.
As I have said a million times before, Gov't can only print worthless digits, Gov't cannot print productivity. No gov't can print borrow and import
to economic prosperity. 148 nations since 1960 alone have proven this fact time and time again. It is a "Deficit MYTH" to believe Gov't can.
Most recently we have watched currency collapses in Lebanon, Sri Lanka and Turkey where millions of families will suffer greatly as a result
of bad MMT beliefs that Gov't can just print a currency at will and we can all have free this an that. it is very unfortunate that millions of people
must suffer in order to prove a bad monetary, economic theory wrong!
Warren Mosler Mike Norman Natasha Kelton and the #MMT crowd are the absolute wrong people to listen to when it comes to FX trading and economics.
Anyone who has been bamboozled into believing MMT and bought the TRY has been absolutely destroyed several accounts over. When theory meets reality!
Real Macro Economic Investing
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