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Mar 2021
14m 3s

When Currencies Fail: ‘Bitcoin’ Google S...

Blockworks
About this episode

Today on the Brief:

  • Nigeria central bank reversing stance on crypto ban? 
  • “The least responsible fiscal policy of the last 40 years”
  • Scaramucci’s firm files fifth bitcoin ETF application

Our main discussion: the crash of the Turkish lira. In this episode, NLW looks at the last few years of Turkish monetary policy, inflation and currency crisis, focusing on:

  • The seesaw shifts between inflation and crisis on the one hand and interest rate hikes on the other
  • The sour legacy of intervention in the central bank by President Erdogan 
  • Why the Turkish lira had actually increased 3.07% against the dollar in 2021 before this 

Finally, he examines why some think the only tool left in the Turkish central bank’s tool kit to fight inflation is currency controls, and why this is driving people to explore bitcoin as an escape valve. 

-- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com
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