Turkish banks pay 55% interest.

[ack]

This could be a good investment for everyone. I hope you'll consider it.

Last edited: Dec 14, 2023

 

[void]

if I remember correctly it was 2016 when Venezuelan stock market grew 115% p.a. - wonder if there is a common denominator....

 

[pomegranate]

ack said:
This could be a good investment for everyone. I hope you'll consider it.
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sure... time to learn about Interest Rate Parity

 

[ack]

Turkey and Venezuela cannot be equated. The Turkish economy is getting stronger again. The wrong interest rate cuts have been abandoned. There is a new understanding of the economy.

 

[scooterguy]

ack said:
This could be a fun gamble for some. I hope you'll consider it.
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There, fixed your original post.

 

[ack]

scooterguy said:
There, fixed your original post.
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We will see what Moody's will say about Turkey's outlook on Friday evening.

 

[orangeye]

How would you invest in banks like this and get 55% in return of your investment?

 

[ack]

orangeye said:
How would you invest in banks like this and get 55% in return of your investment?
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By opening a 32-day time deposit account. I convert my deposits into Turkish lira and receive income at the end of each month. Most of the banks in Turkey are reliable international banks.

 

[JohnnyDoe]

Just go to Monaco, bet on red or black and you have a 48.65% chance of making 100% in 20 seconds.

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[uranium]

ack said:
By opening a 32-day time deposit account. I convert my deposits into Turkish lira and receive income at the end of each month. Most of the banks in Turkey are reliable international banks.
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Sell usd, buy turkish lira, make 50%.
Boom turkish lira down 50% because of inflation!

 

[Marko Krassus]

Great thread, great comments, would read again _b_b

 

[Meta]

Actually, by a funny coincidence TRY lost exactly 55% to USD in the last year =) The rate was 18.66 lira to a dollar on Dec 16 2022, it's 29.13 today according to Google.
Exchange $100 to lira a year ago, get 1866 lira. Deposit it for 55%, get 2892 lira today. Exchange it back to USD...
Ta-da-dam...
$99.27 =)