Turkish Lira, Stocks Jump After Jay Sekulow Says "Close To Resolution" On Pastor Brunson

With stocks tumbling into the Friday close following the collapse of the Turkish lira,, and with Trump a stickler for no red days especially when he is on vacation, traders were wondering where today's stick save would come from. We got the answer moments ago when Trump's attorney - or rather one of many - Jay Sekulow, said in a radio appearance on the Sean Hannity radio show, that the White House is working hard on the case of a U.S. pastor Andrew Brunson - who is held by Erdogan under house arrest, and was the catalyst for today's latest Trump sanctions - and "says they’re close to getting a resolution."

Sekulow, guest hosting with Rudy Giuliani in place of Sean Hannity on his national radio show, provided no details including how he’d be in a position to know, and no indication that this is not just a political talking point which is completely devoid of any of today's context, which saw not only Trump double down on Turkish sanctions, but also ended with Turkey vowing to retaliate to US sanctions as relations between the US and Turkey collapse.

In kneejerk reaction, the USDTRY dropped some 20 large figures, pushing US futures higher in the process.

Then again, with the Pastor at best a sideshow to the problems facing Turkey, of which first and foremost is Erdogan's unwillingness to raise rates, call the IMF for help, or enact capital controls, we are confident it's only a matter of time before the selling resumes.

Comments

Adolfsteinbergovitch gatorengineer Fri, 08/10/2018 - 15:57 Permalink

There you have the motive. And the world is watching. And the clock is ticking. This trick will not work eternally. Moreover Erdogan is very well aware of what happened to Khadafi.

It won't be long before America and its puppet master israel become very lonely in this world...

It's incredible that elementary diplomacy be forgotten so quickly in the bowels of DC.

In reply to by gatorengineer

simulkra Clint Liquor Fri, 08/10/2018 - 18:16 Permalink

Brunson, as with the Skripals, is merely a convenient cover for economic warfare. That Turkey/Iran/Russia is the target suggests that Israel is the motivator, as the former are the latter's prime strategic rivals. 

However Pres. Trump is also using sanctions as a wrecking ball, to benefit the US economy.

The conflict is between regional and global hegemony. Israel wants to be the regional hegemon and take down Turkey but Turkey occupies a critical geographical location and is a central part the containment of Russia (think Crimean Wars I & II).

If Ergodan doesn't fall quickly there could be tension between Israel's local interest and the Anglo-American global strategy, as losing Turkey to Russia would be a huge setback. Clearly Congress will support Israel's interests, as they are bought and paid for, but it will be interesting to see what the Pres. does, as although also ADL certified, he is a wildcard.

In reply to by Clint Liquor

Beatscape simulkra Fri, 08/10/2018 - 21:41 Permalink

Captain, my sensors indicate that it was NOT a coincidence that this unconfirmed "getting close to a resolution" announcement re: the row over U.S. pastor Andrew Brunson was released 30 minutes before the US stock market closed while it was plumbing new lows with the DJIA down close to 300 points. Notice the immediate 100 point bounce right after it hit the wires. And, notice it came from the Sean Hannity radio show, perhaps a new outlet for the PPT. 

In reply to by simulkra

bluebird100 gatorengineer Fri, 08/10/2018 - 17:03 Permalink

I really don't think this administration cares about regime change - at least not by our own hands. Plus, we all know how that goes (Iraq, Libya, Afghanistan). I believe Trump realizes nation building is a futile effort; the only people who can rebuild a country are the citizens of those countries. However, I think he doesn't mind inciting regime change, but considering some of these countries have been oppressed for decades, I approve of the rhetoric he's using. Plus, it exposes these regimes as the fakes they are even though Western media opposes American progress.

In reply to by gatorengineer

Rexmundi FullHedge1 Fri, 08/10/2018 - 16:15 Permalink

He got a spy back, lost 2 US incredibly strategic bases, almost crashed European and consequently US markets GG. Don't agree with him on such stupid moves, but boy it is entertaining,...I guess this pastor / Spy was worth it, because the shame of him talking about assassination attempt, arms transport to ISIS from Split trough Turkey . Nato's and CIA involvement in durg trade, organ harvesting etc That would not paint a pretty picture

In reply to by FullHedge1

Thordoom GoldHermit Fri, 08/10/2018 - 16:23 Permalink

I have no idea how could people still think the " pastor" is really a pastor. I'm pretty confident at this point he is CIA spy with a lot of information. That is why they want him back so badly. Secondly i do not think they are close to solving this issue. The meeting will be about how they are going to get rid of USD and embrace Yuan.

In reply to by GoldHermit

Squid Viscous Fri, 08/10/2018 - 15:44 Permalink

kick save! and a beauty!

by the jew lawyer whose only relevance is his occasional Faux news appearances,

now I've seen it all, g_d please take me, I'm ready

hanekhw Fri, 08/10/2018 - 15:48 Permalink

Right. Put that Genie back in the bottle. It was all just a big mistake my sticking my finger in the USs eye several times. Just a big mistake.

exartizo Fri, 08/10/2018 - 15:50 Permalink

It seems extraordinary and quite unprecedented that an entire nations' financial condition should be held captive both literally and figuratively to Mr. Brunson's release by Erdogan.

It seems a no brainer.. release Mr. Brunson and your currency stops free falling?

BitchesBetterR… exartizo Fri, 08/10/2018 - 16:13 Permalink

IF you think the Lira's drop was due to Mr Brunson's release....

 

maybe, just maybe the Lira dropped because the Turkish are looking for alliance with Eurasia & the Belt Road Investment - perhaps it was because Turkey wants some S-400 & SU-57 as opposed to the US military tools, or maybe because Turkey is daily drifting away from NATO..........

 

Nah- you're right 

 

In reply to by exartizo

Squid Viscous Fri, 08/10/2018 - 15:55 Permalink

Brunson may be a pedophile, the new frontier for Libs,

"God made him that way, we just need to work with him,

there's a place for everyone in our bold new world"

Francis Marx Fri, 08/10/2018 - 17:42 Permalink

 The only way they are going to end the issues with Turkey is to pull the plug and leave. Drop them as a NATO state. They constantly blackmail everyone.

Winston Churchill Francis Marx Fri, 08/10/2018 - 18:51 Permalink

That's what the Turks want, they're de facto in the eurasian camp.

They stayed in NATO as a spoiler and because they have their own designs about Kurdistan.They're negotiating with the

Mullahs in Iran without the US.

First Pakistan and now Turkey, with Iran, MacKinders' Heartland is wrapped up, the Great Game over.

Thee US will  soon forced out from the Kush , then its a royal flush.

Game set and match to the SCO & the BRI.

They don't need the IMF, just like Pakistan did not.Enjoy the kabuki as the US alienates everyone left.

In reply to by Francis Marx