How will such a central bank account?

How will such a central bank account?
How will such a central bank account?

While the whole world was raising interest rates, the Central Bank of the Republic of Turkey reduced interest rates again.

I don’t have a problem with low interest rates, these discounts do not actually lower interest rates.

On the contrary, it increases real interest rates and supports those who rob both the country and those who invest in it.

Since the Central Bank has reduced the interest rates to 12 percent, neither the interest on the loans used by the industrialists nor the interest on the loans used by the citizens.

Actual loan interest rates currently range from 25 percent to 65 percent.

Worse, banks are also very reluctant to extend credit to industrialists.

Come on, this doesn’t happen.

Let’s say that the interest rate of the building that uses the most credit falls, the state is not robbed.

No, such a thing does not happen, the government’s borrowing interest does not decrease either.

On the contrary, it is increasing.

Last year, in September, the interest rate paid by the government on its debt was 17.7 percent.

Afterwards, the “I know economy” was introduced.

Interest rate cuts started with the order.

What would you estimate the government’s borrowing interest rate today?

It was 24.8 percent.

And the interest burden of the state, which was around 60 percent in 2021, increased to 117 percent compared to the principal, reaching the highest level in the history of the Republic.

What else happened!

The dollar exchange rate, which was around 8 liras, exceeded 18 liras, and started to go towards 19 liras with the last discount.

These interest discounts are only 8 liras for fuel, 25 liras, 4 liras for tomatoes to 15 liras, 3 liras for onions to 12 liras, 2 liras for bread to 5 liras, 12 thousand liras for mobile phones to 45 thousand liras, and the rent of a barn to 5 liras. not only did it raise the prices of private schools to 200 thousand TL.

He revealed the hidden interest called currency-protected deposit.

It caused billions to be transferred from the Treasury, that is, you and me and all of us, to those who deposited their money in a currency-protected account, that is, those with large amounts of money, and paid interests exceeding 60 percent.

With the depreciation of TL and the increase in the price of foreign currencies with the last interest rate cut by the Central Bank, the amount of money to be paid to the rich who own the currency protected deposits has also increased.

Every increase in the exchange rate also increases the hidden interest to be paid to this type of deposit, which reaches 1 trillion liras.

I won’t multiply the increase in the exchange rate by 0.5 TL with the last interest rate cut by 1 trillion TL, you multiply it.

Find the damage done to the Treasury.

To keep the rate low, add the dollars that are constantly sold out.

Identify the damage.

So what I will say is that a Central Bank can only do so much damage to a country.

In a normal country, all the directors and board members of such a Central Bank are dismissed in one day.

They are even judged.

They may say that this was not our aim.

But what matters is the result, not the goal.

If you are the head of a much-discussed institution, there is only one thing you need to do if all eyes are on you.

You need to be more careful, more decent, more respectful of the law and moral rules than ever before.

But where…

When the brazenness is gone and concepts such as control and accountability are long forgotten, such a thing does not exist.

Boğaziçi University is also not free from this “decency of decency” issue in the country.

The last example of this is quite cheap, but this is a cheapness that spreads throughout the country.

Bogazici University will be recruited.

A commission is established for this recruitment.

Who do you think the commission hires?

The commissioner’s brother.

According to Diken’s report, let’s say by name, Umutcan Kural, brother of Recruitment Commission member Soner Melih Kural.

I do not know Umutcan Kural.

Maybe he is a wonderful man. (I don’t think so, but…)

Still not.

If you are in an institution where everyone’s eyes are on you, if you are already being discussed, if the political will that appointed you there is criticized and if you have taken a risk with this appointment, you will not hire your brother.

I don’t know if your brother may be worthy of this task.

But if you say, “Brother, don’t apply for this job, so that neither you nor my name will be tarnished” and you even prevent him from applying.

No, if he still applies, you won’t be hired.

This is what people who are decent, honorable and fond of dignity do.

Now some will say, “Having good manners is not enough to fill your stomach”.

It’s true if you look at it individually.

But being rude actually causes a nation to starve.

We have an excellent communication with young people, especially thanks to the One on One Science program.

We receive a lot of e-mails from them on our communication channel.

I read them all and try to answer most of them.

Emails coming in here are pretty intense these days.

And much of it is about the “homeland problem” or housing in general.

And there is a very common question.

“What is the admission criteria?”

Because most of the young people who contacted me applied to both the Credit and Dormitories Institution and the dormitories of the Istanbul Metropolitan Municipality.

All of them have fulfilled the application requirements and meet the application criteria.

And they’ve all been rejected by both sides.

They are aware of the shortage of dormitories and lack of space, but this is not enough to satisfy their curiosity.

What they are wondering is:

“How are the dormitories allocated, who decides who will be placed in the dormitories, and on what basis?”

Because some of the students in the same situation can find a place in the dormitories, while another receives a rejection response.

Turkey’s 3rd largest city, one of our favorite cities, Izmir did not have a proper opera house.

When the central government, which had ignored İzmir for years, did not build an opera house in this beautiful city, it fell to the local governments.

First, a project competition was held, a very nice project won the competition.

And Izmir Metropolitan Municipality laid the foundation of Izmir Opera House in 2018.

The construction of a building overlooking the sea in Mavişehir, which will become a symbol of İzmir, has started.

The opera was scheduled to be completed in 2023 and to open on the 100th anniversary of the Republic.

Unfortunately, the construction could not progress quickly enough, and to date, 45 percent of it has been completed.

And now it has been decided to change the function of this building.

The opera house has now been converted into an “Elderly Care Home”.

I said sorry.

How can a monumental structure of İzmir Opera, which was started and almost half completed, become a nursing home for the elderly!

How can Koskoca İzmir not build or complete a building?

It doesn’t seem mind-blowing.

Dear Tunç Soyer, Mayor of Izmir Metropolitan Municipality.

How can you do such a bad thing to Izmir!

If necessary, talk to the Minister of Culture and Tourism, if not, involve many of the art-loving riches of Izmir in this business, if not, beg the people of Izmir.

But please complete that building as an opera.

And think about it, what would you say, what would you do if your political opponent was the party that changed that building from being an opera to a nursing home for the elderly!

The HSK made the following assessment regarding my article criticizing the three-month ban from the profession to the Prosecutor, whose investigation was initiated on a disgraceful accusation:

Once HSK is aware of the issue, it initiates an investigation. Appoints an inspector. If the inspector requests a measure of suspension in his preliminary report, the HSK applies a measure of suspension from duty for a period of three months. This period can be extended for another 2 months. During this period, the administrative investigation continues. Then, with the main report, the board decides on a disciplinary penalty. Forensic investigation and process are also carried out. There is a detailed explanation in Article 77 of the Law No. 2802. The measure is not the final punishment, but it is understood from the article.

HSK’s assessment is correct.

I have no objection.

But in my opinion, this measure should be for 3 months and not with an extension decision if necessary, “until the completion of the investigation” and, if a lawsuit has been filed, “until the conclusion of the lawsuit” and should be applied.

If necessary, making changes in the law in this direction is necessary in terms of public conscience.

When the politician loves the bureaucrat who shows his mistake, not supports it.

The article is in Turkish

Tags: central bank account

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