World on brink of GLOBAL crisis: TRY reached 7, dragging CNY towards 7… THE BIG CRASH IS COMING?

Two things I never thought I would say in EM FX:

a) TRY reached 7 before CNY

b) TRY dragging CNY towards 7

Yes, we are here. What will happen this afternoon? Why do you think there's panic in TRY? Fear of CAPITAL CONTROLS. Maybe something good'll happen but man…

We are HERE pic.twitter.com/jqQWtMEj54

— Trinh (@Trinhnomics) August 13, 2018

As the Lira gyrates looking for direction of support, it swung to PARITY W/ THE CNY today.

TRY = CNY
Captured this (Bitter) Sweet FX moment 🤢 Time to think about disclosures at the back of sales pitch (strategists take NO RESPONSIBILITY FOR UR TRADE & INVESTMENTS HAVE RISKS). pic.twitter.com/bEuNn7ivA5

— Trinh (@Trinhnomics) August 13, 2018

KIM DOTCOM: THE BIG CRASH IS COMING 100% pic.twitter.com/hxuerV3ek8

— Alastair (@StockBoardAsset) August 12, 2018

pic.twitter.com/u2bRIlVsRW

— Alastair (@StockBoardAsset) August 12, 2018

https://twitter.com/L0gg0l/status/1028759001700462593

dollar blows up world

— Alastair (@StockBoardAsset) August 13, 2018

#Erdogan today:
1) Threatened industrialists for dumping their Turkish lira
2) Threatened businesspeople for not selling their products
3) Threatened the US with consequences in the region & on the US soil.
4) Threatened with slashing interest rates as opposed to expectations.

— Abdullah Bozkurt (@abdbozkurt) August 12, 2018

World on brink of GLOBAL crisis as lira plunges to ALL TIME LOW pic.twitter.com/wFirkylq3V

— Alastair (@StockBoardAsset) August 13, 2018

"August is always a popular month for an EM crisis." – Deutsche Bank

— zerohedge (@zerohedge) August 13, 2018

BBG: Global markets and emerging currencies are reeling from the Turkish crisis pic.twitter.com/sprn3cShFX

— Alastair (@StockBoardAsset) August 13, 2018

W A R N I N G pic.twitter.com/C5itLdOirK

— Alastair (@StockBoardAsset) August 13, 2018

It is beyond his control

“Money, capital has a life of its own…it’s a force of nature, like gravity, like the oceans it flows where it wants to flow” ~ Maxwell Emory – Rollover 1981 $SPX $DXY $TLT https://t.co/AE5040L1ht

— Edward Dowd (@DowdEdward) August 12, 2018

#Turkey #TurkeyCrisis #Lira pic.twitter.com/kbQsYsV7AJ

— Alastair (@StockBoardAsset) August 12, 2018