Inflation in Turkey is now so High that even Apple refuses to Sell their Products for Turkeys Currency, Value Nearly Halved as more Turkish People Consider escaping to Crypto

Inflation in Turkey has reached a new all time high of nearly 20%, the value has nearly halved compared to the also inflating dollar since the beginning of 2021Imagine if all your wealth is halved in less than 12 months, the wages also have clearly not doubledNow even Apple refuses to sell products for the LiraBut what did the President of Turkey do to help with this situation?Fired the 5th central banker in a rowDeclared "War on Crypto" (because Crypto is the problem and not a "stable currency" which halves in less than 12 months)More and more people in Turkey now begin using Crypto to escape this dramatic devaluation of their wealth, a bit of volatility or earning interest on stablecoins is better than your money halving every few months(source 1)(source 2)(Fun fact: everytime their President fires the next central banker Google searches for Bitcoin soar across the country)

Submitted December 03, 2021 at 02:14AM