TURKEY

 Earlier today (Thursday) a Turkish court removed the leader of the CHP (the main opposition party in Turkey). The ruling comes a little over a year after Ekrem Imamoglu (the Presidential candidate for the CHP) had his college diploma canceled making him ineligible to run for president (even though he had been serving as the Mayor of Istanbul).


The ruling caused a sharp drop in Turkish Stocks as the Bosra Istanbul 100 Index (Turkey's benchmark index) closed Thursday, down 6.1%. Interestingly, despite the market plunge the lira (the currency in Turkey) stayed stable as state lenders sold around $6 billion to defend the currency.


Based on what happened last year, in the days following the situation with Mr. Imamoglu, I expect large protests at least over the next few days. 


Keep an eye on what is happening in Turkey moving forward, as an election is scheduled for 2028. Between now and then I expect a lot of mayhem coming out of that country as many experts believe the current President of Turkey has a goal of becoming an Islamist Dictator and restoring the Ottoman Empire. 

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