How Turkey's Currency Crisis Came To Pass

President Erdogan of Turkey often asserts that 'foreign powers' (meaning the U.S.) want to bring him down. He says that the 'interest lobby' (meaning (Jewish) bankers), wants to damage Turkey. He is somewhat right on both points. Since last week the Turkish lira is on an extended down-slide. Today alone it lost nearly 20% of its value. It will likely take the Turkish economy with it and Erdogan need someone to blame for it.

But while foreign powers and banks surely use the crisis for their own aims, it its Erdogan's economic policy that is foremost to blame. The long boom he created with borrowed foreign money is finally turning into a bust.

Turkey has a chronic current account deficit. It imports more goods and services than it exports and has to borrow foreign money to pay for the difference. In the early Erdogan years a lot of money flowed into Turkey. But it was invested in unproductive matters. New housing expanded a booming Istanbul. New splendid bridges and airports, lots of shopping malls and more than 10,000 new mosques were build as well as a 1,000 room palace for Erdogan to use. His cronies in the building industry got very rich.

But productive industries that create products to export to other markets are harder to build than mosques. Erdogan never made them a priority.  Thus Turkey's current account deficits grew from 1% of its GDP to about 6% of GDP. This was clearly unsustainable. Aug. 10 http://www.moonofalabama.org/2018/08/how-turkeys-currency-crisis-came-to-pass.html#more

Solar Eclipses can bring powerful challenges to a nation especially if they fall on the angles.  In such a case they offer a time to the nation to resynchronize itself  with the ever-changing cosmic currents leading to a new consciousness. The solar eclipse of July 13 fell on the Ascendant at Ankara in sidereal Gemini.   Sidereal Gemini is of  intellectual communication, information, commerce, goods and services, and of their exchange. The Twins are of partnerships in mutual cooperation, linking and uniting efforts through their daily affairs in the world. But often the Twin are at loggerheads. Notice while they hug each other (co-operation) with one arm, in the other hand they carry weapons. Here with the eclipse amid the stars of the Twins opposite Pluto, the likelihood disagreement in matters of trade and commerce is high.

Pluto is related to the sign Scorpio. It is the natural ruler of the 8^th house of shared resources so that it is has a major say in international finance, credit and debt which eventually decide the value of a nation’s currency.  Turkey has a current account deficit because it has been borrowing money for unproductive activities as the article above explains.

Pluto is a pattern disrupter and deprogrammer. When worked with consciously, it  frees one from antiquated behavioral patterns and teaches one to claim the power within self  (integrity) and not be dependent on  money and resources of others. When individuals or nations become dependent on others they are vulnerable to being controlled.

Finally, we note that the eclipse fell on President Erdogan’s  radix Uranus on the descendant opposite transit Pluto on the Ascendant. Martha Wescott provides the following keyphrases for Uranus-Pluto.

Uranus-Pluto:  to see disruptive behavior based on emergent (formerly repressed) psychological content; to recognize that a threat of a separation or demand for independence can bring vindictive reactions or is based on an assertion of dominance  (or attempt to regain control); to be aware of disruption or events within friendship in connection with debt or shared resources.