After the famous interview a few days ago, during which the Minister of Economy and Finance of Turkey called the journalist to see “the gleam in his eyes” to understand how the Turkish economy is going, yesterday, the graphic tsar of the Turkish economy struck again, claiming that the Federal Reserve does not belong to the American public, but belongs to five wealthy families, provoking criticism from economists.
In a televised interview with CNN Turk yesterday, Nurettin Nebati – who was naturally appointed by President Recep Tayyip Erdogan in early December following the ouster of his predecessor – told a reporter coordinating the debate that “the central bank “It does not belong to the public; it is in the hands of five families.”
Nebati’s comments are nothing more than a well-known conspiracy theory for several decades, claiming that America’s central banking system is secretly privately owned or influenced by a number of old and established banking families present in Europe and North America for centuries.
Families cited by such theorists include the Rothschilds, Lehman Brothers, Lazard Brothers, Goldman Sachs, Warburgs, Kuhn, and Loeb, among others, who occasionally appear on the list.
Nebati’s comments have been criticized and condemned by many around the world. “This is crazy and embarrassing for Turkey. Turkey needs professionals in key positions,” said Timothy Ash, an economist and emerging market strategist at London-based BlueBay Asset Management. He also asked, “How can a G20 finance minister throw such rubbish? This puts Turkey in a difficult position.”
Many see Nebati’s comments as part of Erdogan’s broader unconventional approach to finance, with the president wielding influence over the country’s central bank and pushing it to cut interest rates in recent months, leading to mistrust of foreign investors in the Turkish economy and contributing to its financial crisis.
Petros Kranias
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Source From: Capital
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