HALKTV — Gizem Cetin ile Parantez
20260917 130000 UTC
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[00:00:00] More information convened extraordinarily,
[00:00:01] Bestel. of course, when an extraordinary situation arose. The Capital Markets Board filed a criminal complaint against many people and liquidated 130 funds of 7 companies. Some investment companies, including Tera and Pusula Portföy, defaulted. That is, they could not make the payments they had to make to investors on time. This situation affects hundreds of thousands of citizens. Its size is billions of liras. A travel ban decision was made against Emre Tezmen, Chairman of the Board of Tera Yatırım Holding. Tez made a statement. Investors panicked and sold shares. Borsa Istanbul circuit broke on Wednesday. In other words, transactions were closed to prevent panic. The Financial Stability Committee convened urgently. A statement came from the committee chaired by Treasury and Finance Minister Mehmet Şimşek, and it was stated that it is manageable. It was emphasized that there is no structural risk in the markets. It was announced that all necessary measures will be implemented. The Capital Markets Board also liquidated 130 funds of 7 companies. Sales transactions were closed.
[00:00:10] Turkey's energy depot. Orbus.
[00:00:28] Welcome to Halk TV, dear viewers, I am Gizem Çetin, we are here with you in parentheses.
[00:00:31] The date is September 17, 2026,
[00:00:34] Thursday, and what will we mainly talk about today?
[00:00:38] The earthquake in the fund market, the upside-down
[00:00:42] markets, anxious investors, and also
[00:00:45] the measures announced one after another today, but which I think are
[00:00:49] late. We will detail these today for
[00:00:52] 2 hours in 2 time slots, but if you wish,
[00:00:55] as always, let's start by taking the pulse
[00:00:59] of politics. Let's return to Silivri. The second
[00:01:02] hearing in the IBB case continues. So, what happened today?
[00:01:06] Let's get the important details and particulars from Gamze Altunay.
[00:01:10] Gamze,
[00:01:15] yes, the last session of 5 weeks is taking place. Today
[00:01:19] it was quite busy again, we can say. The number of people heard
[00:01:23] has exceeded two hundred. When I left, 210 people were being heard.
[00:01:26] 115 people remain to be heard. 325 names
[00:01:29] have been completed. Will Ekrem İmamoğlu be given a time limit then? How much
[00:01:33] time will be given? We will see that in the coming period. On the one hand,
[00:01:36] while these names are being heard, a new review of their detention
[00:01:40] will be conducted. When? At the end of this month, at the beginning of October.
[00:01:43] Will there be a release? We will also see that in the coming period. But we reminded
[00:01:47] you yesterday, let's remind you again today. This week is also ending. In September,
[00:01:51] Buğra Gökçe also pointed out that their
[00:01:54] execution period had expired. There were nine names whose detention
[00:01:58] periods reached 18 months in September. And these names are still
[00:02:01] awaiting their release. Yesterday was a busy day again.
[00:02:05] We went up to 200 names. The names who benefited from effective
[00:02:08] remorse were heard. Today, especially action 137
[00:02:11] is an action written about Isfalt's tenders.
[00:02:14] This is it. Defenses regarding these tenders
[00:02:18] are being made one after another. What is being said?
[00:02:21] One of the particularly noteworthy defenses
[00:02:24] was this: a name
[00:02:27] stated that he resigned and left there in 2019. Who was this name? Former
[00:02:31] Isfalt General Manager Ahmet Ağarman said that he left Isfalt on
[00:02:34] July 18, 2019, but that it was written
[00:02:38] that he approved the tender approximately 5.5 years later. He used
[00:02:41] the expression "Such a thing is not possible." Then,
[00:02:44] Ahmet Önal, the Branch Manager of European Side Rail Systems,
[00:02:47] made his defense. His interrogation took place. During
[00:02:51] his interrogation, Ceyhun Avşar, the Head of the Detained Rail Systems Department,
[00:02:54] asked him questions. He asked about a WhatsApp message mentioned
[00:02:58] in the indictment.
[00:03:02] He said, "Fatih abi will receive the statement," and here
[00:03:06] the prosecution considered this name to be Fatih Keleş.
[00:03:09] He asked about this. In response to Avşar's question, Önal
[00:03:13] used the expression, "Fatih in this message is our Fatih abi
[00:03:16] from Metro Istanbul." Again, a confusion in the indictment
[00:03:19] was highlighted during this interrogation. Previously,
[00:03:23] since the names of the agencies were mixed up, here the defense of the wrong
[00:03:26] agency's official, also as an un-detained defendant,
[00:03:39] we learned that it did not exist with this interrogation. Again, former IBB
[00:03:41] Deputy Secretary General Murat Yazıcı was at the podium. As I
[00:03:45] just said, he stated that he had no role as principal
[00:03:48] or agent in the crime of bid rigging.
[00:03:51] The defendants of actions 65 and 66 are the same. He said,
[00:03:55] "My name is here due to a copy-paste operation,
[00:03:58] and there is no concrete evidence." They used
[00:04:01] these expressions. In general, I can say that
[00:04:05] we continue to hear what we have been hearing since the very
[00:04:08] beginning, since the first hearing, Gizemçetin. It is persistently
[00:04:11] said that it is a copy-paste indictment. Many contradictions
[00:04:15] in the indictment are being highlighted, and in this way, both defenses
[00:04:19] and interrogations continue. Today, we are again expecting Mahir Polat
[00:04:23] to be at the podium. Murat Kapkin's wife is also one of the names expected
[00:04:27] to make a defense today. But will different names come? Who will make
[00:04:30] their defenses, especially those who benefited from effective
[00:04:33] remorse, today? Who will they be, and how long will their interrogations
[00:04:37] last? Because yesterday, the court president had to extend the hearing, which he said
[00:04:41] would end at 10, by an hour, due to the long interrogation. What
[00:04:44] will happen today? What will be said? What will be asked? We are following
[00:04:48] everything to report it all. Let's hand it back to you. Yes, we thank
[00:04:52] Gamze Altunay. In fact, it is a topic that has been discussed
[00:04:56] since the indictment first emerged. It is still being discussed
[00:05:00] in the courtroom. The copy-paste issue and also the contradictions,
[00:05:03] the contradictions in the indictment, and the details
[00:05:07] that emerged today were shared by Gamze Altunay. Yesterday,
[00:05:10] however, very striking things happened. The confessor did not recognize
[00:05:14] the person he gave money to in the courtroom. Dinçer Kantar
[00:05:18] said he handed over 185,760 dollars to Hüsnü Yüksel
[00:05:21] Tunar, but he couldn't recognize Tunar,
[00:05:25] whom he said he gave the money to. It's not limited to this. We
[00:05:28] continue. Businessman Hüsnü Akan, who allegedly gave 500,000
[00:05:32] TL worth of market cards, said he saw Elçin
[00:05:35] Karaoğlu in court for the first time and learned of the existence
[00:05:38] of the cards from the indictment.
[00:05:46] In the IBB case, the confessor did not recognize
[00:05:49] the person he said he gave money to in court. The person
[00:05:52] who allegedly gave market cards also said, "I learned of the existence of the cards
[00:05:56] from the indictment."
[00:06:00] The IBB case, in which 414 people,
[00:06:04] including IBB President Ekrem İmamoğlu, are being tried, continues. Since
[00:06:08] August 17, more than 190 un-detained individuals
[00:06:11] have made their defenses.
[00:06:15] While the defenses continue, the questions raised also highlight
[00:06:19] the contradictions in the indictment. Businessman Dinçer Kantar
[00:06:22] made his defense. Upon the court president's
[00:06:26] question, Kantar said he handed over
[00:06:29] 185,760 dollars to Hüsnü Yüksel Tunar in the parking lot
[00:06:33] across from his office.
[00:06:34] dedi.
[00:06:37] Then the detained individuals
[00:06:39] asked questions.
[00:06:42] Tunar asked Kantar, "Do you know me?" Kantar replied, "No."
[00:06:46] Following Kantar's answer, Tunar
[00:06:50] responded by saying, "I am the person you said you handed the money to."
[00:06:53] verdi.
[00:06:56] Doğuş Group Chairman of the Board Hüsnü Akan was also among
[00:07:00] those who defended themselves. In the indictment, Akan
[00:07:03] is accused of giving a 500,000 TL market card
[00:07:06] to Boğaziçi İmardanager Elçin Karaoğlu.
[00:07:08] ediliyor.
[00:07:10] He asked a question.
[00:07:42] He said, "Continue," and spoke clearly. Another important issue that
[00:07:46] we are discussing in the political agenda is the issue of Öcalan's
[00:07:49] home, along with Devlet Bahçeli's statements. Regarding that issue,
[00:07:53] instead of talking about Öcalan getting a house,
[00:07:56] we would rather talk about Demirtaş getting his home.
[00:08:00] he said. Our fourth
[00:08:03] promise to our nation is a strong and secure Turkey.
[00:08:07] Instead of talking about some people getting a house, we would
[00:08:11] rather talk about Demirtaş We would say that we want to talk about the release of our friends who have been unjustly detained in high-security prisons for 18 months and have suffered human rights violations in difficult conditions. Because the democratization of a country depends on these things, and it is Demirtaş's return home, rather than Öcalan's acquisition of a new residence, that will provide social contribution to the process. So, in these discussions, we are concerned with Demirtaş returning to his home, his wife, and his family. The issue is not whether Öcalan was given a house on the island or whether he will go home. These are not our concerns.
[00:08:14] We would rather talk about the release of our friends who have been unjustly detained
[00:08:18] in difficult conditions in high-security prisons for 18 months, because
[00:08:21] the democratization of a country depends on these things, and
[00:08:24] what will provide social contribution to the process
[00:08:28] is Demirtaş getting his home rather than Öcalan getting
[00:08:31] his new residence. In other words, in these discussions, we are concerned
[00:08:35] with Demirtaş getting his home, his wife, his family.
[00:08:38] The issue is not whether Öcalan was given a house on the island,
[00:08:42] whether he will go home. These are our concerns."
[00:08:52] There was also the withdrawal of the CHP's appeal. Özel stated
[00:08:56] that the withdrawn application was not by the CHP, but by Özel and
[00:09:00] his team. Özgür Özel, speaking to Murat Aksoy from Yeni Arayış,
[00:09:03] said that with this move, they are trying to swindle justice
[00:09:07] and snatch something in the judiciary. "We appealed to the Court of Cassation
[00:09:10] for the appeal decisions to be annulled because they are wrong.
[00:09:14] But they are withdrawing our application so that this decision is not discussed
[00:09:17] in the Court of Cassation. They are not withdrawing their own petitions.
[00:09:21] There is snatching here, there is abuse of rights,
[00:09:24] or rather, exploitation, swindling of the judiciary,
[00:09:27] and snatching from a judicial decision. What is intended with this move
[00:09:31] is to try to close the path to the Court of Cassation. Withdrawal
[00:09:35] does not dismiss that court, it cannot dismiss it. The path to seeking
[00:09:38] justice cannot be closed. They know that if the Court of Cassation discusses
[00:09:42] this, it will annul it. Because they know that this decision will be overturned,
[00:09:45] they are trying to withdraw the case from the Court of Cassation. They want
[00:09:48] the case to be finalized without the Court of Cassation looking at it.
[00:09:52] But the wrong that was done there needs to be corrected by legal
[00:09:56] means. So, if the Court of Cassation annuls the appeal decision,
[00:09:59] will it return to the CHP, or is the matter closed? Özel
[00:10:03] underlined that they will continue their path with the new party.
[00:10:07] We will continue our path as a new party, but the Republican People's
[00:10:10] Party also needs to be rescued from occupation and plunder.
[00:10:14] The annulment management is currently plundering the party materially
[00:10:17] and morally. They are plundering the political heritage we have
[00:10:21] accumulated together since Atatürk. Therefore, it needs to be rescued
[00:10:24] from occupation and plunder. The Republican People's Party
[00:10:28] needs to be rescued from this annulment mentality. We have established
[00:10:31] the new party, no matter what the decision is, we continue
[00:10:33] our march with the new party. The New Party received a notification
[00:10:37] from the Chief Public Prosecutor's Office of the Court of Cassation
[00:10:40] for a name change, upon the objection of the New Party of Innovation.
[00:10:43] The New Party leader emphasized that the Constitutional Court
[00:10:46] will make the decision. He said, "Even if it is ruled that there is confusion,
[00:10:50] we do not intend to abandon our new name. The nation gave this name."
[00:10:54] "We will continue our path by making changes while preserving our new name."
[00:10:57] I have no intention of going back there. We will continue
[00:11:01] on our new path. They are at the end of the road, we are at the beginning.
[00:11:05] Kozinoğlu, a former MIT member, even considered MIT's
[00:11:08] black box, his death and the re-launched
[00:11:12] investigation continue to reverberate. We started the day with
[00:11:15] a new operation related to this issue.
[00:11:19] Arrest warrants were issued for four people. The then
[00:11:22] Silivri Chief Public Prosecutor and the prison prosecutor,
[00:11:26] these are the first two, sir. The other two
[00:11:29] are names dismissed from their profession
[00:11:32] within the scope of FETO investigations. We drew attention to the other
[00:11:35] names in our broadcast with Halktebe.com writer Dinçer Gökçe
[00:11:39] in recent days, their cellmates. One is
[00:11:42] retired soldier Hasan Atilla Uğur, the other is Hasan Ataman
[00:11:46] Yıldırım. Arrest warrants were also issued
[00:11:48] for them.
[00:12:55] He had served in the investigation. He was the person
[00:12:58] who issued a decision of non-prosecution for the file in 2012. İşgören
[00:13:02] was later tried within the scope of FETO investigations
[00:13:05] and dismissed from his profession.
[00:13:08] Kahramanoğlu,
[00:13:12] within the scope of the investigation, the then prison prosecutor
[00:13:16] Necip Doğan was also arrested. Doğan was among
[00:13:19] the names who participated in the crime scene investigation
[00:13:22] conducted after Kozinoğlu's death. He was also later
[00:13:25] dismissed from his profession
[00:13:27] within the scope of the FETO investigation.
[00:13:30] Hasan Atilla Uğur, for whom an arrest warrant was issued,
[00:13:34] was in the Turkish Republic of Northern Cyprus on the morning
[00:13:37] of the operation. Uğur made his first
[00:13:39] statement to Not 1 after the arrest warrant.
[00:13:43] Uğur said that the information pollution regarding Kaşif Kozinoğlu's
[00:13:47] death had increased, and therefore, it was normal for him to be called
[00:13:50] to testify. He said,
[00:13:51] "We will tell what we know."
[00:13:55] He is also known for being the military official who interrogated
[00:13:58] him. Kozinoğlu's other cellmate, retired Navy Captain
[00:14:01] Hasan Ataman Yıldırım, was also arrested in Istanbul.
[00:14:05] Yıldırım was also one of those arrested in the Ergenekon
[00:14:09] conspiracy cases. During his detention, he shared
[00:14:12] the same cell with Kaşif Kozinoğlu and Hasanatilla
[00:14:15] Uğur in Silivri Prison. He was released
[00:14:18] after it was revealed that the cases were a conspiracy.
[00:14:22] He wrote about his experiences in a book titled "The Tip of the Iceberg
[00:14:25] America." In the book, he included very critical allegations
[00:14:29] about Kozinoğlu's last days in prison and what he
[00:14:32] said. Yıldırım argued in his book
[00:14:35] that the Ergenekon and Balyoz conspiracy cases
[00:14:39] conducted in Turkey were entirely planned
[00:14:41] by the USA.
[00:14:45] Now, as we briefly mentioned at the beginning, the earthquake
[00:14:48] in the fund market, the upside-down markets, anxious
[00:14:51] investors, and the measures announced one after another today.
[00:14:55] "The CMB announced, the Central Bank announced,
[00:14:59] Treasury and Finance Minister Mehmet Şimşek, they
[00:15:02] also convened the Financial Stability Committee.
[00:15:05] We will talk about what all this means, but we will also talk about
[00:15:08] the political dimension of the issue, so to speak. Tera,
[00:15:12] Pusula, Hedef, Atlas, we are talking about a total of
[00:15:15] 7 companies. 130 funds will be liquidated
[00:15:19] by the CMB. Who will we talk about these with?
[00:15:23] Journalist Bahadır Özgür is with us. Welcome."
[00:15:26] Welcome, dear Özgür. In fact,
[00:15:29] many esteemed economists had been talking about the bubble
[00:15:33] created by ponzi schemes in the markets for a long
[00:15:36] time. They were making warnings.
[00:15:40] But after the bubble burst with Pusula, today
[00:15:43] we started talking about audits, regulations,
[00:15:47] these things. Now, when this is the case, everyone has
[00:15:50] a question in mind. At first, this question comes: wasn't
[00:15:53] this known? If it was known, why weren't measures taken
[00:15:57] before? And is the problem actually only a bad
[00:16:01] financial management
[00:16:02] here?
[00:16:05] "Let me start with your last question. No, this is not a matter of bad financial
[00:16:08] management. It cannot be explained that way
[00:16:11] because what happened, this fund wreck,
[00:16:14] was coming clearly in sight. Let me remind the viewers
[00:16:18] of this right away. Remember, there was talk about a Selecil
[00:16:22] Erzan fund. At that time, many journalists and experts
[00:16:25] said, 'Okay, there's such a fraud here, but there's
[00:16:29] much more of it in the stock market.' They said, 'There are some
[00:16:32] hedge funds here. Look, they offer
[00:16:35] such returns.' We said, 'This is impossible.'
[00:16:38] At that time, of course, something like this happened:
[00:16:42] 'news and comments that disrupt the market.' For example,
[00:16:45] I also have lawsuits, and my news was even banned.
[00:16:49] After that, actually, experts said this.
[00:16:52] Then, on November 4, 2025, the Minister of Treasury and Finance,
[00:16:56] Mehmet Şimşek, came out and said
[00:16:59] that there were manipulations in the stock market funds,
[00:17:03] and they would not turn a blind eye to them. So, a minister
[00:17:06] openly said, exactly 10 months, 11 months ago, that there was
[00:17:10] a setup here, a manipulation, that it was not natural.
[00:17:14] So, what was done? Nothing was done for 10 months.
[00:17:17] Nothing was done. It came, it came,
[00:17:20] it came. Finally, MSCI,
[00:17:23] Morgan Stanley Capital International, is an institution
[00:17:27] in America. Foreigners refer to it when investing in
[00:17:31] emerging markets because this index covers
[00:17:34] your large and mid-cap companies.
[00:17:37] That institution warned Turkey, saying, 'You are not transparent.
[00:17:41] There are strange movements in some of your stocks.
[00:17:45] These funds are not healthy. We don't see transparency
[00:17:48] when we look. Fix this, otherwise we will remove you.'
[00:17:52] Whatever happened, happened after that. This warning was made in June.
[00:17:56] In August, the CMB published a new
[00:17:59] regulation. This regulation actually contained technical
[00:18:03] things like taking these funds we mentioned under control,
[00:18:06] making them transparent, and setting some limits.
[00:18:10] After that regulation was published,
[00:18:13] large outflows started from Pusula, which pulled
[00:18:16] the pin today, detonating this bomb. Why?
[00:18:20] Because here, you have inflated stocks. The real
[00:18:23] returns of these funds are not this much. I will elaborate
[00:18:26] on that a bit later. That is, there is an unrealistic,
[00:18:30] illogical inflation,
[00:18:33] a bubble there. Since this was noticed,
[00:18:37] if they complied with this regulation, the truth would come out
[00:18:41] and a bigger wreck would emerge. Outflows started from Pusula.
[00:18:44] When I say outflows, we are talking about billions
[00:18:47] of liras. Look, between August 28 and September 15,
[00:18:51] only from Pusula funds,
[00:18:54] 132 billion liras flowed out. What does this mean?
[00:18:58] There were outflows. Of course, many small investors are among
[00:19:01] them, meaning they are scared, they panic, they are suspicious,
[00:19:04] they redeem their fund to get their money.
[00:19:07] But there are also very big money owners. We don't
[00:19:11] know these. That is, where did this money go? Where did
[00:19:15] this money come from? So this happened in Pusula. Then
[00:19:18] it turned out that Pusula said, 'I won't be able to pay you.'
[00:19:21] 'I don't have such cash.' Because, in plain English,
[00:19:24] for the viewer to understand simply, let me not explain
[00:19:27] technically. The real value of the stocks within the fund
[00:19:30] you invested in is not what we showed. Those
[00:19:34] are inflated prices. If we sold them today, no one would
[00:19:37] buy them at a garbage level. Therefore, I will sell this
[00:19:41] and pay you your money. This is not possible.' He said, 'I defaulted.'
[00:19:45] The incident broke out yesterday. Later, it turned out that not only
[00:19:48] Pusula but also other similar funds were like this.
[00:19:52] They defaulted, and finally, at 8 this morning,
[00:19:56] the long and short of it is, the state intervened
[00:19:59] and said, 'I will clear this mess.' That is, with public
[00:20:02] resources and power, this mess will be cleared.
[00:20:05] How will it be cleared? These 130 funds, similar
[00:20:09] to this, passed to the state. They will be liquidated.
[00:20:12] Apart from this, to prevent companies like Katılım
[00:20:15] Evi and Bir Evim, which tens of thousands of people
[00:20:19] joined with the dream of a house and a car and signed contracts,
[00:20:22] from being at risk, the state took them and gave
[00:20:26] them to Emlak Bank. What else did it do? It saw that the stock
[00:20:30] market crashed yesterday, didn't it? Look how many shares these
[00:20:34] funds held in their hands, they crashed the entire stock market. The Wealth
[00:20:38] Fund intervened through Ziraat Portföy. That is, with state
[00:20:41] resources, shares started to be collected so that shares would not fall too much.
[00:20:45] This is what they call a measure, Gizem. Yes, so the bubble that
[00:20:49] was clearly coming burst. Now this wreckage
[00:20:52] is being cleared with the state's resources. This is the answer
[00:20:56] to your first question. Now, when we ask why it wasn't prevented,
[00:20:59] considering Mehmet Şimşek's open statement last November,
[00:21:03] people inevitably start talking about the
[00:21:06] 7 companies being discussed right now,
[00:21:10] their owners, their managers.
[00:21:14] They start drawing attention to those people, because
[00:21:17] it was something that was clearly coming.
[00:21:21] The country's Treasury and Finance Minister had acknowledged
[00:21:25] the situation, but no steps were taken. In fact,
[00:21:28] we should thank Morgan Stanley, as you mentioned earlier,
[00:21:32] perhaps they prevented it from growing even bigger.
[00:21:36] Again, it's not us. Now, when we look, Muhammet Yarıs
[00:21:39] was arrested. Yesterday evening, Hedef Holding Chairman Namık
[00:21:43] Kemal Gökalp was detained. A travel ban was imposed
[00:21:46] on Tera Board Chairman Emre Ezmen."
[00:21:49] "So, for example, here, since we have been talking about
[00:21:52] Pusula mostly from the beginning, and since the incident broke
[00:21:56] out from there, how does a 28-year-old
[00:21:59] who has been penalized by the CMB many times
[00:22:03] become the manager of billions of liras worth of funds?
[00:22:07] I think we need to ask this question. This question
[00:22:10] is important. Now, if you and I get together
[00:22:13] and decide to establish a fund, an investment company,
[00:22:17] and have a factoring company and offer it to the public, it wouldn't work.
[00:22:21] We would have to comply with many rules. They would say, 'Who are you?'
[00:22:24] 'What is your capital?' If we made these shares,
[00:22:27] how did you achieve 5000% returns with 3 shares?
[00:22:31] We would be immediately penalized. In fact, we wouldn't even
[00:22:34] get permission. The manager of Pusula you mentioned,
[00:22:38] the 28-year-old, was a member of the AKP youth branch who made
[00:22:42] a rabia 6 years ago. Only 6 years ago.
[00:22:45] His father is also a name who has been penalized for trading
[00:22:48] in the stock market and is close to the AKP." He has photos with ministers.
[00:22:51] This participation house was established, and ministers visited it.
[00:22:55] So we understand that there is a political
[00:22:58] leg here, and a bureaucratic leg. Because, look, it's
[00:23:02] very simple. Anyone with even a little financial literacy
[00:23:05] can enter the system where these funds are traded,
[00:23:09] and this system is open to everyone. If they wonder what's inside
[00:23:12] this fund, for example, do you know what they see?
[00:23:16] A company that has only made 3.5 million liras in profit
[00:23:20] in real life, the shares of this company
[00:23:23] have been inflated by these funds buying and selling
[00:23:26] them among themselves, and we see that this company,
[00:23:30] which made 3.5 million liras in profit, has reached
[00:23:33] a paper value of 25 billion dollars today. What does
[00:23:36] 25 billion dollars mean? Even if you add up Koç,
[00:23:40] Sabancı, Akbank, Yapı Kredi, Coca-Cola, Ford, Türk Telekom,
[00:23:43] Telsim, Turkcell, the big companies of Turkey, they don't
[00:23:46] reach this. There is reason, there is logic.
[00:23:50] You don't need to know mathematics for this. Such a thing
[00:23:53] is impossible. It is an impossible thing.
[00:23:56] No one turns around and says these publicly
[00:23:59] traded shares are being bought and sold among themselves in an agreed-upon
[00:24:03] manner. Meanwhile, the citizens say, 'Oh, there's a big profit here.'
[00:24:07] And you know, on social media, YouTube,
[00:24:10] different platforms, Telegrams, these shares are being
[00:24:13] propagandized. So people are being drawn into a trap.
[00:24:16] Hundreds of thousands of small investors go and buy these
[00:24:20] shares hoping they will rise. After that, these big
[00:24:23] funds start selling these shares. Look, a share that
[00:24:27] rose by 4000% in a year, a share that rose by 4000%
[00:24:31] in 170 days, drops by 1900%
[00:24:34] in 40 days. So the small investor suffers.
[00:24:37] So those shares get inflated, what do they do? They buy them
[00:24:41] and put them into the fund. I'm explaining in an understandable
[00:24:44] way. When we say investment fund, it mostly contains
[00:24:48] 80-90% shares. Most of these consist of these shares.
[00:24:52] You look on paper and say, 'What a profitable business! Look,
[00:24:56] this fund has shares of a company worth 25 billion dollars.' However,
[00:25:00] in real life, there is no such thing. When you try to sell it today,
[00:25:03] it doesn't work. This wasn't enough.
[00:25:06] They attracted people to these funds.
[00:25:09] This wasn't enough. Now, viewers will hear a lot about money
[00:25:13] market funds. This fund is a risk-free fund.
[00:25:17] That is, you have money, you go to the bank, you deposit
[00:25:20] it, right? It's government-guaranteed deposit. If the bank goes bankrupt,
[00:25:24] it says that. That is, you say you will earn a little more
[00:25:27] than inflation. Some citizens, many people, said, 'I don't
[00:25:31] want to take risks. I will invest in these money
[00:25:34] market funds, which are risk-free funds.' However,
[00:25:38] they were also deceived there because the risk-free
[00:25:42] fund was full of rotten goods. How did this happen?
[00:25:45] These two funds were their own. Because risky,
[00:25:48] the rotten goods, the defective goods, in the risky
[00:25:51] fund, they used them as collateral for the money
[00:25:54] market, that is, the fund that should be risk-free,
[00:25:57] and took money from there. This is the issue today.
[00:26:01] That is, there is deception here. There is a trap.
[00:26:05] He should have seen it, he could have seen what we saw very easily, their opportunities are
[00:26:09] greater and there was no intervention. The reason for not intervening, look,
[00:26:12] you said it a little while ago, it's not just for the compass, we're looking at Tera,
[00:26:16] we're looking at others. Actually, Bahadır Özgür, here
[00:26:20] let me start with this question,
[00:26:22] now, um, SPK announced a list of measures,
[00:26:26] went for a new regulation, or rather, the compass
[00:26:29] was sold to Tera hastily.
[00:27:03] In line with our national vision, not only in the financial field,
[00:27:06] but in every platform our country needs and at every level of responsibility,
[00:27:10] we will resolutely continue our domestic and national stance.
[00:27:13] he said. Now, what does this statement have to do with the issue?
[00:27:17] It says "evil forces", what are those evil forces? Where does the issue of domestic and national
[00:27:20] come from? It's starting to become quite interesting.
[00:27:23] When you read
[00:27:27] the whole statement, it's like the National Security Council
[00:27:31] communiques of an era. Or you say, did the Chief of General Staff
[00:27:35] make a statement, because it talks about homeland defense and national defense. You might
[00:27:39] think, did the army make a statement? In the end, a fund makes a statement
[00:27:42] and it's full of rhetoric, like we've seen in many
[00:27:46] areas, about homeland, flag, nation, that the flag will not fall,
[00:27:49] the call to prayer will not stop. This is such a statement.
[00:27:52] So you suspect, you say, why are you giving a political
[00:27:56] message? Because you have political relations. Look what happened last week,
[00:27:59] before this broke out, let me tell you the rumor, it was confirmed today.
[00:28:03] When it was understood that Pusula would go bankrupt, they rushed to Ankara
[00:28:07] and wanted to meet a minister. They told the minister
[00:28:11] that this was a participation housing project and that if the public
[00:28:14] acquired these funds, meaning a participation housing project
[00:28:17] like Emlak Katılım Bankası, they would give the other funds
[00:28:21] to Ziraat Portfolio, etc., because this would explode,
[00:28:25] but it was too late because it turned out that an investigation had been launched.
[00:28:29] It turned out that the prosecutor's office had warned Mehmet Şimşek about this
[00:28:33] and that he had never given permission. Suddenly, in the afternoon, Tera
[00:28:36] announced that it would take this on. Now, people said, okay,
[00:28:39] then Tera is a safe, big fund, so my money is safe. But what
[00:28:43] happened? Because it was safe, people didn't withdraw their money.
[00:28:47] They did this to prevent the sale. Then it turned out,
[00:28:50] two days later, that he said he wouldn't take it. There was no
[00:28:54] permission for such a thing.
[00:28:57] Moreover, he said he wouldn't take this risk either. So even what was done
[00:29:00] in those two days is a crime. "You go out and make an announcement that you will buy it,
[00:29:04] people trust you, and two days later you come out and say, no, I won't
[00:29:08] buy this. The board of directors changed two days ago, and two days later
[00:29:11] the board of directors changes again. So there are scandals from start to finish,
[00:29:15] they can't get out of this. I'm making a comment here: look, this means
[00:29:19] deceiving small investors. While people could have saved their money,
[00:29:22] maybe you delayed it for two or three more days
[00:29:26] and prevented them from withdrawing their money. Finally,
[00:29:29] the rumor that was circulating in financial circles
[00:29:33] turned out to be true. It turns out that Emlak Katılım Bankası
[00:29:36] acquired the participation house, at least.
[00:29:39] Now, there's this aspect to it: there are more than 100,000 people there,
[00:29:43] there's 151 billion in bonds, there's debt,
[00:29:46] at least those people, you know, were prevented from being victimized,
[00:29:50] but this was prevented with our money, um, with public
[00:29:53] money. That's the critical point there. Now, this morning, the financial
[00:29:57] stability committee, SPK, the central bank, announced decisions.
[00:30:00] They implied that we will somehow handle this
[00:30:04] with state intervention. From the investor's perspective, they said
[00:30:07] you will get your money back, but how much they will get is already
[00:30:10] unknown. But when you look at it, when you say
[00:30:14] you will fix this with state intervention or with public funds,
[00:30:18] then what is the fault or sin
[00:30:21] of people who have never been involved in these matters, who have never,
[00:30:25] I don't know, invested, earned, or lost money?
[00:30:28] eee suçu günahı ne
[00:30:32] The state should have actually done its job
[00:30:35] for the past 10 months, even a year and a half. It was very simple.
[00:30:38] It has the authority, it has the data. It knows who these
[00:30:42] people are, what they are, what's going on. If it had intervened,
[00:30:46] things wouldn't have come to this. But it seems that there was a blind eye
[00:30:49] turned to this situation. That's our whole problem. So, why do you think a blind eye was turned?
[00:30:53] Let me add this: for example, in every investigation,
[00:30:56] the first thing we talk about is taking measures on assets,
[00:31:00] MASAK seizing them, right? "For example, I haven't seen anything like that for these names.
[00:31:04] No, not at the moment.
[00:31:07] Uh, we've known about the political connections of a large
[00:31:10] number of these fund managers for years.
[00:31:14] There are people who have served and are serving as presidential
[00:31:17] advisors. Among some of them, there are AKP
[00:31:20] members. There are children of AKP
[00:31:23] families. Uh, one of Tera's managers
[00:31:27] visits the AKP Sultanbeyli district organization.
[00:31:30] Photos can be published with such ceremonies. So these funds appear to be very intertwined
[00:31:34] with the political power. This was a fund that presented
[00:31:37] such a picture. Firstly, this. Secondly, look,
[00:31:41] we're talking about very large amounts of money, Gizev Hanım, this is not
[00:31:45] like a simple snatch-and-grab issue.
[00:31:48] Yesterday, the money withdrawn from the funds was calculated to be 1 trillion,
[00:31:52] 1 billion dollars. Consider this since August.
[00:31:56] Whose money was this? Who got
[00:31:59] out of this business earlier, took their money and left?
[00:32:02] Was this money taken abroad? Did MASAK, for example,
[00:32:06] investigate this money? Were bank accounts investigated?
[00:32:09] So, who are the ones who put large
[00:32:13] amounts of money into these funds and got out early,
[00:32:16] who made huge profits? We don't know who these names are. This is the main point that needs to be questioned.
[00:32:20] Secondly, SPK and similar
[00:32:23] institutions should question their managers.
[00:32:26] Look, SPK managers, even after Mehmet Şimşek,
[00:32:29] in November, said this: we more or less know what these funds
[00:32:33] are doing, we are warning them now, we don't want to fine them,
[00:32:36] we don't want to harm the fund, but listen to our warning.
[00:32:40] Are you warning children
[00:32:43] in the neighborhood? You know, you might shake your finger
[00:32:46] and say, don't do this again. Are funds talking about billions of liras
[00:32:50] warned like this, fined like this,
[00:32:53] inspected like this? Therefore,
[00:32:56] the issue has two aspects. One is that there is a terrible
[00:33:00] wreckage, and today the state removed this wreckage with its power.
[00:33:04] People shouldn't think that by looking at the stock market,
[00:33:07] yes, the stock market is rising, how nice. Billions of liras
[00:33:11] have already been recorded as public loss, in my opinion, because you're saving it with state power.
[00:33:15] Secondly, and more importantly, in my opinion,
[00:33:18] who are the people who have amassed wealth upon wealth
[00:33:21] from here for months, who have acquired new wealth?
[00:33:24] Where did this money go? Is this money in Turkey?
[00:33:27] Did the cash from these funds go abroad?
[00:33:31] Will this be investigated? Will this be pursued?
[00:33:34] As you said, in the IBB case, MASAK,
[00:33:37] which accounted for 50 liras, that was one of the reasons
[00:33:41] for Mahir Polat's prosecution. It was a 50 lira
[00:33:45] transfer. Will MASAK, which pursued even 50 liras,
[00:33:48] pursue billions of liras? In my opinion,
[00:33:51] what will truly ease the public's conscience,
[00:33:54] rahatlatacak,
[00:33:56] what will truly make people say "yes, the state has really intervened"
[00:34:00] is this. Otherwise, saving a bankrupt company
[00:34:03] is not being a state, meaning the state is not doing its job.
[00:34:07] All they did was take a measure with state power
[00:34:10] so that this issue doesn't spread like a virus throughout the stock market,
[00:34:14] so that it doesn't affect the banking system and the system doesn't collapse.
[00:34:17] It's very easy, you can do it, the state is strong anyway,
[00:34:21] it has unlimited resources, unlimited funds, a wealth fund.
[00:34:24] It has put the wealth fund into action, but the main issue is this:
[00:34:28] remember, look, 3-4 years ago, we discussed
[00:34:31] IPOs in the same way. We said, you know,
[00:34:34] everyone, from peanut sellers to lokum sellers, is going public.
[00:34:38] How do you allow this? Then it turned out, you know,
[00:34:41] that official escaped, that SPK official went abroad, Ünsalban
[00:34:45] is a fugitive. It turned out that the person who signed these received bribes,
[00:34:49] he was being prosecuted and he fled. The same thing, the event was smaller
[00:34:52] back then. You didn't take precautions then. The same thing happened again
[00:34:56] with the funds. So nothing has changed. We are not
[00:34:59] discussing this for the first time. There has always been manipulation
[00:35:03] and speculation in the stock market, but these didn't affect
[00:35:07] everyone before. Look, these funds, these 7 funds,
[00:35:11] with the shares they hold, can raise and lower
[00:35:13] the entire stock market index. They have reached this power.
[00:35:17] This is a terrifying power, meaning
[00:35:21] it shouldn't be this unsupervised. Therefore,
[00:35:24] when we look at it, what we, as journalists, need to question
[00:35:27] is that this issue needs to go to court,
[00:35:31] it absolutely needs to go to court. And these SPK
[00:35:34] penalties, look, SPK penalties are a joke. You have
[00:35:37] imposed a trading ban on someone you arrested, you've already arrested them.
[00:35:41] Today, a trading ban is announced. Is there organized crime
[00:35:45] here? Were small investors systematically defrauded?
[00:35:48] Was the public systematically harmed by stock manipulation?
[00:35:52] Secondly, was the wealth, the acquired wealth, taken
[00:35:55] abroad? I think there needs to be an investigation
[00:35:59] that will seek answers to these questions. Absolutely, let us ask from here too.
[00:36:03] Thank you very much, Bahadır Özgün, for participating and for the information you shared.
[00:36:06] Thank you.
[00:36:08] teşek.
[00:36:10] Dear viewers, now let's continue with another important topic.
[00:36:14] For a few days, we've been talking about operations,
[00:36:17] detentions, and arrests targeting LGBTQI+ individuals under the name "My Family is Safe".
[00:36:20] The number of arrests has increased; 20 in Istanbul and two more
[00:36:24] in Çanakkale have been arrested. The total number of arrests
[00:36:27] has reached 82. New Party leader Özgür
[00:36:31] Özel reacted to the operation. He said that a careless investigation
[00:36:35] was being carried out.
[00:36:35] söyledi.
[00:36:40] Arrests targeting LGBTI+ individuals continue.
[00:36:43] 20 people in Istanbul and 2 people in Çanakkale were arrested.
[00:36:47] The number of arrested people in the operation named "My Family is Safe" became 82.
[00:36:51] oldu.
[00:36:54] On September 12, an operation was carried out
[00:36:57] against LGBTI+ individuals. Dozens of people were detained
[00:37:00] in 15 provinces, and judicial proceedings were initiated
[00:37:04] against 9 associations and 13 businesses. They were accused of obscenity,
[00:37:07] opposition to the Associations Law, and facilitating prostitution.
[00:37:10] yöneltildi.
[00:37:13] The police procedures of 33 people detained in Istanbul
[00:37:16] have been completed. After the prosecutor's interrogation,
[00:37:20] 20 of the 33 people were referred to court with a request for arrest,
[00:37:23] and 13 people with a request for judicial control. Arrest was requested.
[00:37:29] At the same time, two more people were arrested in Çanakkale.
[00:37:32] In Ankara, 13 out of 21 people
[00:37:35] were arrested, including journalist Tuğba Tekerek.
[00:37:39] It was claimed that Tekerek managed the social media account of Kaos GL, one of the associations
[00:37:43] targeted by the operation.
[00:37:47] Tekerek stated in the message she sent that she was following
[00:37:50] the 2023 Georgian elections and had done copyrighted news.
[00:37:53] söyledi.
[00:37:56] With the arrests in Istanbul, the number of people arrested
[00:37:59] in the operation targeting LGBTI+ individuals
[00:38:02] reached 82. In Izmir, 16,
[00:38:06] in Mersin, 27, and in Aydın, 5 people had been arrested
[00:38:09] within the scope of the same operation.
[00:38:14] On September 15, people wanted to protest the operation
[00:38:17] in front of Çağlayan Courthouse in Istanbul, and 106 people were detained.
[00:38:20] While their referral to the courthouse was awaited, their detention
[00:38:24] period was extended by 24 hours.
[00:38:27] At that time, 106 people, including journalists
[00:38:31] and lawyers, who were held at three different locations, were released without being referred
[00:38:35] to the courthouse. One of the detainees was Sarya Toprak, a reporter
[00:38:38] for BirGün newspaper. Toprak was first taken to Vatan
[00:38:42] police station and then to Gayrettepe. Toprak was
[00:38:46] transferred from the European side to Anatolia
[00:38:49] during the night hours.
[00:38:51] She was released in Çekmeköy.
[00:38:56] Özel reacted to the operation.
[00:38:59] He said, "We are facing a situation where everyone is being put in the same bag
[00:39:03] and criminalized." For example, operations
[00:39:07] are being carried out against associations related to sexual health, to which only doctors
[00:39:11] can be members, against associations that operate on sexual orientation,
[00:39:14] to which only specialist doctors can be members, and against the association fighting
[00:39:18] against HIV, meaning AIDS. Moreover, among those
[00:39:21] targeted by the operations are even family solidarity associations.
[00:39:24] Furthermore, all of them are called immoral.
[00:39:28] These operations may want to ignore a truth,
[00:39:31] but this will not eliminate that truth,
[00:39:35] it will only disappear from sight, and where it disappears from sight,
[00:39:39] all kinds of injustices,
[00:39:41] illegalities, and unhealthy situations will emerge.
[00:39:43] Özel, speaking to Murat Aksoy
[00:39:47] from Yeni Arayış, criticized Justice Minister Akın Gürlek
[00:39:50] for conducting this investigation. He said, "The prosecutor's office
[00:39:53] has suspicions that a crime has been committed, but the Ministry of Justice
[00:39:56] cannot decide to conduct this operation. If this happens,
[00:40:00] the executive Justice Minister would have used the independent
[00:40:04] judicial authority."
[00:40:05] dedi.
[00:40:10] A ceremony was held in Aydın Didim due to the start of the new academic
[00:40:14] year, but the Mayor's reaction at that ceremony
[00:40:18] made quite an impression. Didim Mayor Hatice
[00:40:21] Gençay, whose name was read after the District National Education Director,
[00:40:25] turned her back on the protocol.
[00:40:33] The new academic year in Didim started with a protocol crisis.
[00:40:37] The name of the New Party Mayor was read after the District National Education
[00:40:40] Director. The Mayor turned her back
[00:40:44] on the protocol during the wreath-laying ceremony. She said that she
[00:40:47] had encountered a similar situation before and that she clearly expressed
[00:40:51] her reaction out of responsibility to the office she holds
[00:40:54] representing the will of the people.
[00:40:57] In 2026-2027, a ceremony was held to mark
[00:41:01] the start of the academic year. A protocol crisis occurred
[00:41:04] during the ceremony. The name of Didim Mayor Hatice Gençay
[00:41:08] was read after District National Education Director Mustafa Çalışkan,
[00:41:11] although it should have been read before him in the protocol
[00:41:14] order. Gençay reacted to the situation by turning
[00:41:18] her back to the protocol. That moment was captured by cameras.
[00:41:22] Following the events, Mayor Gençay issued a statement.
[00:41:25] She stated that a similar situation had occurred before
[00:41:28] and that, therefore, the issue could not be considered an isolated
[00:41:31] protocol error. She emphasized that she represents
[00:41:34] the will of the people of Didim. The fact that similar situations
[00:41:38] have been encountered before, and that the same approach has emerged
[00:41:41] once again today, makes it difficult to evaluate the issue as merely
[00:41:45] an isolated protocol error. Therefore, out of responsibility
[00:41:49] to the will of the people of Didim and the dignity of the office
[00:41:52] I represent, I openly expressed my reaction
[00:41:55] to the said attitude during the ceremony.
[00:41:58] Didim Mayor Hatice Gençay had announced at the end of July
[00:42:02] had resigned from CHP
[00:42:06] and joined the new party.
[00:42:12] In schools, especially for the past two years, we have been discussing
[00:42:15] two important problems, two issues: one is hygiene, cleanliness, and the other
[00:42:19] is security. For example, the issue of hygiene and cleanliness sometimes even determined
[00:42:23] the political agenda. As for security,
[00:42:26] it cost us 11 lives, let's remember that.
[00:42:30] Now, Minister Yusuf Tekin always said there were no problems,
[00:42:33] no issues, but I guess he finally
[00:42:37] realized there was a problem, because right now...
[00:42:46] Cleaning in schools is provided by permanent caretakers, and there used to be no problem.
[00:42:50] The Ministry of National Education changed the methods of employing cleaning and security
[00:42:53] personnel. For two years, the cleaning and security issue reached its peak.
[00:42:57] Complaints poured in every day from classrooms, floors,
[00:43:00] toilets, and gardens. There were students who held their urine
[00:43:04] for 5-6 hours. School massacres
[00:43:06] occurred.
[00:43:11] Numerous cleaning and security protests were held in front of the Ministry of National Education,
[00:43:14] the opposition called for an investigation, AKP and MHP rejected it.
[00:43:17] Opposition municipalities wanted to clean schools, the issue caused a political debate.
[00:43:20] The Minister of National Education said on October 8, 2025,
[00:43:24] that there were no problems anymore. There are no problems
[00:43:27] with cleaning staff in our schools.
[00:43:30] Minister Tekin, who said a year ago that there were no problems,
[00:43:34] is now looking for solutions. The formulas are before President Erdoğan,
[00:43:38] and the budget is being calculated. In terms of
[00:43:41] this, we will talk to the relevant authorities and bring this
[00:43:44] problem to a more fundamental
[00:43:48] solution in the budget law. We have presented
[00:43:51] a few formulas to our President.
[00:43:55] These formulas are: cleaning services to be procured
[00:43:58] from professional companies through tenders conducted
[00:44:02] by 81 provincial governorships, personnel to be employed according
[00:44:05] to the needs of the provinces through a company to be established
[00:44:08] within the ministry, and direct and continuous employment of personnel
[00:44:11] in permanent status with the necessary permits. The formulas are expected
[00:44:15] to take shape in the 2027 budget process. The government could not allocate
[00:44:19] a budget for one free meal, but if it allocates for cleaning
[00:44:22] and security and the President approves, Minister Tekin promised
[00:44:25] that permanent cleaning and security will be provided in schools
[00:44:29] starting from February. As of early February,
[00:44:33] we will have implemented
[00:44:34] our new formula.
[00:44:41] "Good news came from IBB for students. The first
[00:44:45] subscription to be uploaded in the new academic
[00:44:48] year will be only 1 lira for one time only.
[00:44:51] olacak.
[00:44:54] Istanbul Metropolitan Municipality provided a 1 lira subscription
[00:44:58] to students for one time only in the new academic year.
[00:45:01] The decision was accepted by the IBB assembly
[00:45:05] with the approval of all political parties.
[00:45:07] edildi.
[00:45:09] We are always ready to do our best
[00:45:13] for whatever needs to be done. The application will be valid
[00:45:16] for loadings made between September 21, 2026, and October
[00:45:19] 17, 2026. It will only be done once
[00:45:23] and will not cover students over 29 years old.
[00:45:27] "Whichever day our student buys their subscription
[00:45:31] between September 21 and October 17,
[00:45:34] their one-month subscription from that date
[00:45:38] will be only 1 lira."
[00:45:41] The decision was accepted unanimously, but a debate erupted
[00:45:45] in the municipal council during the discussions.
[00:45:48] AKP members stated that the student subscription,
[00:45:51] which was 40 liras in 2019, had increased to 653 liras.
[00:45:54] Thereupon, CHP council member Melendiz Dalyan Izgi,
[00:45:58] who took the floor, reminded of inflation
[00:46:01] and the high cost of living. "So,
[00:46:04] how much was diesel in the same months of 2019?
[00:46:08] Diesel was around 6-7 Turkish Liras. So
[00:46:11] this increase is almost more than 10 times."
[00:46:15] On the other hand, IBB had announced that it would provide
[00:46:18] a one-time housing and deposit support of 12,500 liras to 20,000 student homes.
[00:46:22] We will provide a one-time
[00:46:25] support of 12,500 liras for accommodation
[00:46:28] and deposit to 20,000 student homes.
[00:46:32] We are implementing a new support of 250 million
[00:46:35] liras for our youth.
[00:46:38] It was also stated that in December,
[00:46:42] January, and February, up to 7,500 liras in bill support
[00:46:46] would be given to 20,000 student homes for three months.
[00:46:49] For this, we are allocating 150 million
[00:46:53] liras.
[00:46:57] The harvest season continues for Bodrum's famous green tangerine
[00:47:01] with geographical indication. Bodrum Municipality agricultural services
[00:47:05] teams regularly visit the gardens
[00:47:07] and provide technical support to producers. There are also
[00:47:11] some efforts being made for the sale and promotion of the product
[00:47:15] in the market.
[00:47:18] As shown, its color has also turned slightly
[00:47:21] yellow. There must be about 20 of them
[00:47:24] in one thing. It was brought to Bodrum about 80
[00:47:28] years ago, produced in Bodrum. It is the first product
[00:47:31] produced only in Bodrum in Turkey.
[00:47:34] The season has arrived, the branches are full of fruit.
[00:47:37] The green tangerine harvest continues in Bodrum.
[00:47:41] Technical support is also provided to producers in the gardens.
[00:47:44] We did all the pruning, maintenance, and pest control
[00:47:47] of our trees. The harvest season has come, and I hope it will be a good harvest season.
[00:47:51] The harvest of Bodrum's geographically indicated famous green tangerine
[00:47:54] continues. Bodrum Municipality also continues to support producers
[00:47:58] for the sustainability of production. These trees need pruning every year.
[00:48:01] The purpose of pruning is both to make it easier to harvest
[00:48:05] the product and to obtain better quality yield
[00:48:08] when it is thinned out. Bodrum Municipality Agricultural Services
[00:48:12] Directorate teams regularly visit the production
[00:48:15] areas. The development of the products is closely monitored. They use
[00:48:19] them in every way for cocktails, restaurants.
[00:48:23] In addition to production support, there is also support and research
[00:48:26] for its sale. Bodrum Municipality, in cooperation with Bodrum Belediye AŞ,
[00:48:30] brings the Green Bodrum tangerine together with consumers
[00:48:33] and sector representatives. Efforts continue to popularize
[00:48:37] the product in gastronomy, tourism, and beverage sectors.
[00:48:39] We are in the process of producing new products in the cold chain
[00:48:42] that our citizens can obtain for 12 months.
[00:48:46] Together with our tangerine producers
[00:48:49] in Bodrum, we will add a new value to Bodrum.
[00:48:57] Indeed, both its taste and smell are completely different. Those beautiful
[00:49:01] images came to your screens
[00:49:24] Turkey's energy storage.
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[00:49:35] Even if time passes, the value of gold always remains in Koçak.
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[00:56:05] Poland's opponent in the round of 16.
[00:57:25] on Halk TV screens from where we left off in parentheses.
[00:57:29] In this section, we will actually talk about the measures
[00:57:32] announced by both the CMB, the FSC, and the Central Bank.
[00:57:36] We will discuss these. We will approach the issue
[00:57:39] from the perspective of the investor, but let's start with
[00:57:42] the main agenda of the citizens. Diesel has officially
[00:57:45] exceeded 100 liras,
[00:57:49] we are experiencing a first in the history of the Republic, and as they
[00:57:52] say, what has no explanation
[00:57:55] has humor, and our citizens are indeed very talented
[00:57:59] in humor. When they saw 100 liras on the
[00:58:02] signs, the shares of "This must be the century of Turkey"
[00:58:05] did not go unnoticed.
[00:58:08] This is the situation, on the other hand, the statements made by Treasury
[00:58:11] and Finance Minister Mehmet Şimşek regarding fuel prices
[00:58:14] both attracted attention and caused
[00:58:17] reactions. He said that we use cheaper fuel
[00:58:21] Başarır from the New Party
[00:58:24] başarırsa Avrupa'dan Belçika'yı seçti, oradaki
[00:58:27] the salaries and diesel
[00:58:30] Our purchasing power
[00:58:34] decreases every day, every day. It is being
[00:58:37] pulled down a bit. I don't know what to do.
[00:58:41] The pressure of the high cost of living
[00:58:44] felt even more with fuel
[00:58:49] When Treasury and Finance Minister Mehmet Şimşek took office,
[00:58:52] the price of 1 liter of diesel was 19.78
[00:58:56] kuruş. With the last increase, the price of 1 liter of diesel
[00:59:00] reached
[00:59:00] 100 liras.
[00:59:04] Today, the tax amount within the price of diesel is
[00:59:08] 19.12 kuruş. Since the beginning of the year,
[00:59:11] diesel has increased by 72.4%, and gasoline by
[00:59:15] %50,5 oranında.
[00:59:20] Treasury and Finance Minister Mehmet Şimşek made evaluations
[00:59:23] regarding the latest developments in the economy during a television
[00:59:26] program he attended. Şimşek compared
[00:59:29] the price of diesel in Turkey with many countries in Europe.
[00:59:33] Şimşek claimed that 1 liter of diesel in Europe
[00:59:37] Look, today,
[00:59:40] in many countries in Europe, the price of 1 liter of diesel
[00:59:43] in Turkish lira is not below 150 liras.
[00:59:48] Despite these recent excessive increases,
[00:59:51] it is around 100 liras
[00:59:54] to Minister Şimşek's
[00:59:58] Group Deputy Chairman Ali Mahir
[01:00:01] purchasing power in Turkey and
[01:00:05] Minister of Finance, your statement and your duty,
[01:00:08] your responsibility is not this. Diesel
[01:00:12] is not below 150
[01:00:15] in Belgium, how much diesel
[01:00:17] can a minimum wage earner
[01:00:20] buy? 935 liters, Mr. Minister.
[01:00:24] In Turkey, 340
[01:00:28] the same comparison for retirees. A retiree
[01:00:31] in Belgium can buy 772
[01:00:34] monthly salary. In my country, it's 242
[01:00:38] for taxes to be lowered
[01:00:42] against the increase in fuel
[01:00:45] who imposed the tax. You are the one who imposed the SCT.
[01:00:48] If there is a war, an extraordinary period, reduce
[01:00:52] the tax. Şimşek, on the other hand,
[01:00:54] from fuel were foregone. We
[01:00:58] really gave up tax.
[01:01:00] Diesel has
[01:01:06] exceeded 100 liras and seems to continue to rise.
[01:01:09] The statements of the Minister of Treasury and Finance
[01:01:12] leave us, the listeners and viewers, speechless.
[01:01:15] So what do citizens say about this
[01:01:19] situation? Let's hear what they
[01:01:21] have to say.
[01:01:24] Prices are like a car in neutral,
[01:01:27] accelerating on their own.
[01:01:30] Wages are like a car with the handbrake on. This is our situation.
[01:01:33] That's why
[01:01:37] we will either burn
[01:01:39] the clutch or get out of the car and run. I don't know.
[01:01:43] We are progressing badly. May God help us.
[01:01:46] In cold weather, I used to turn the key
[01:01:49] to warm up the car, but not anymore. As soon as I start
[01:01:53] They don't hesitate to bleed the people dry.
[01:01:56] Honestly, we are no longer surprised because it's on
[01:02:00] autopilot. If it drops 3 liras, it increases
[01:02:04] it will reach 150
[01:02:08] this will affect everything we do.
[01:02:11] Our kitchen, our pockets. Of course,
[01:02:15] fixed income earners like us face
[01:02:18] Of course, in addition to this, transporters, bus
[01:02:22] companies, all of them will suffer from this, of course.
[01:02:25] Our debts are virtual, our incomes
[01:02:29] is virtual. Now,
[01:02:32] we have lost the reality of what is right, what is wrong, what
[01:02:35] is too much, what is too little, that is. You will buy
[01:02:39] a tank of gasoline in Turkey
[01:02:40] and walk around with a bag.
[01:02:44] As the gentleman said last, "We have lost what is right, what is real,
[01:02:48] what is virtual." Undoubtedly, this situation
[01:02:51] is currently mostly about the fund market, the bursting of the bubble there, and
[01:02:55] the sentences we can construct through what happened.
[01:02:58] Sir, what happened? The market is experiencing a Ponzi crisis,
[01:03:01] it was already happening, even perhaps it was a delayed situation
[01:03:05] that finally came to light. After everything happened,
[01:03:09] finally both the CMB, the Financial Stability Committee, and the Central
[01:03:13] Bank intervened. 7 companies, 130 funds
[01:03:16] were liquidated. Some measures and precautions were taken, and
[01:03:20] there are steps that the state will take to clean up the mess
[01:03:23] in the process that follows. Now let's watch a news report,
[01:03:27] we will discuss it. Some investment companies,
[01:03:33] including Tera and Pusula Portföy, defaulted. That is,
[01:03:36] they could not make the payment they were supposed to make to
[01:03:40] investors on time. This situation affects hundreds
[01:03:42] of thousands of citizens, and the size of the funds reaches
[01:03:46] billions of liras. An overseas travel ban was issued
[01:03:49] against Emre Tezmen, the chairman of the board of directors of Tera Yatırım Holding.
[01:03:53] Tezmen stated that they were subjected to a speculative
[01:03:56] attack by short sellers. Investors panicked.
[01:04:00] sold shares, Borsa Istanbul circuit breaker on Wednesday, in
[01:04:03] other words, transactions were
[01:04:06] The Financial Stability Committee met urgently.
[01:04:10] A statement came from the committee chaired by Treasury and Finance Minister
[01:04:14] Mehmet Şimşek. It was stated that the problem was temporary
[01:04:17] and manageable. It was emphasized that there was no systemic risk
[01:04:21] that all necessary
[01:04:24] açıklandı.
[01:04:26] The Capital Markets Board also liquidated 130 funds of
[01:04:30] 7 companies. Funds were closed to buying and selling transactions.
[01:04:34] It decided to impose a one-year trading ban on some fund
[01:04:38] managers. It decided to relax the minimum equity ratio
[01:04:41] in leveraged transactions from 35% to 20%.
[01:04:45] The CMB also filed a criminal complaint against many people.
[01:04:48] The reason is transactions in Katılımevim,
[01:04:52] Gündoğdu Gıda, and Destek Finans Factoring stock markets.
[01:04:55] Emlak Katılım Bank also announced
[01:04:59] that it had started negotiations to acquire Katılımevim and Bir
[01:05:01] Evim.
[01:05:04] The Central Bank also regulated liquidity facilities.
[01:05:07] The funding provided through weekly repo auctions was
[01:05:10] increased. The size of the auction was increased
[01:05:13] to 30 billion TL. If there is a cash crunch in the market,
[01:05:17] banks will find
[01:05:18] money more easily.
[01:05:21] Now, with the crisis erupting yesterday, but actually since
[01:05:25] the beginning of the week, we have seen declines in the stock market,
[01:05:28] but yesterday we exceeded 6%. Losses
[01:05:31] were circuit-broken, as you know, a serious crisis was experienced
[01:05:35] in the stock market. If you ask what the markets are like now,
[01:05:39] there is a slight recovery in the stock market after days,
[01:05:41] at 13,447 level. The dollar continues
[01:05:45] its rise, and as you know, the Fed's interest
[01:05:48] rate decision also came yesterday, and an interest rate hike
[01:05:51] decision came. 4867, Euro
[01:05:55] 56 and of course that interest rate hike is for now
[01:05:58] the crisis, what is happening in the markets, the reflections
[01:06:01] on the investor, and most importantly, will the measures
[01:06:05] and precautions announced today really work,
[01:06:08] what will be done with them, will the mess really be cleared by the state,
[01:06:12] we will discuss these. We have our guest, economist
[01:06:16] Enes Özkan is with us, welcome, hello.
[01:06:19] So we learned that 7 companies and 130
[01:06:23] funds were liquidated by the CMB. Afterwards,
[01:06:26] there were also statements from both the Central Bank and the Financial
[01:06:30] Stability Committee. I want to address them one by one and explain
[01:06:32] them in a language that the audience can understand
[01:06:36] with you. Now, here
[01:06:39] we are talking about 7 companies and 130 funds, a total of nearly
[01:06:43] 900 billion liras. How will these funds
[01:06:46] be liquidated? That is, what will happen to the investors'
[01:06:50] money? Will they be able to recover their money? Or only a part
[01:06:53] of it? And most importantly, if there are cuts from these
[01:06:57] funds, will it be at the same rate for everyone, or will
[01:07:00] individual or small investors be protected? Let's start with
[01:07:02] that.
[01:07:05] Now, when talking about funds here, it is necessary to make the distinctions
[01:07:08] correctly. The liquidated funds, or rather, the ones
[01:07:11] that defaulted, are not intermediary institutions, but portfolio management
[01:07:15] companies. Within the liquidated funds, there are both money market
[01:07:19] funds and equity funds. Now, there are some differences
[01:07:22] between money market funds and equity funds. Money market
[01:07:26] funds also contain deposits
[01:07:30] and government bonds, which are instruments
[01:07:34] that can be quickly converted into cash. If you have money
[01:07:37] in money market funds, there is not much problem because
[01:07:40] this part can be quickly converted into cash. However,
[01:07:44] the problem with money market funds was already
[01:07:48] one of the reasons why international institutions like MSCI warned
[01:07:52] Turkey: reverse repo transactions. These reverse
[01:07:55] repo transactions involve going and
[01:07:58] taking the shares within another equity fund
[01:08:02] as collateral and lending the money within their own money
[01:08:05] market fund to that fund as a loan.
[01:08:09] Now, those collaterals... The value of the shares
[01:08:12] taken as collateral has fallen sharply,
[01:08:16] because these shares were perhaps
[01:08:20] priced far above their actual value. Since these funds
[01:08:23] constantly lent to each other and bought shares,
[01:08:26] could you explain the monetary repo
[01:08:29] part a little more? You can imagine
[01:08:33] a system like this: you deposited your money into a money market fund,
[01:08:36] and there is also an equity fund of the same company
[01:08:40] or a different company, it doesn't matter. You can lend money
[01:08:44] from the money market fund to the equity fund daily.
[01:08:47] You can also specify
[01:08:50] various rates and maturities.
[01:08:54] We call this transaction a reverse repo.
[01:08:58] That is, I took the stock as collateral and gave you money in return.
[01:09:01] Then you paid me back with interest,
[01:09:05] and I gave you back the stock. This is the relationship
[01:09:09] between the two funds. Now, this relationship was established
[01:09:12] a bit distortedly. As you know,
[01:09:16] there have been things in our stock market
[01:09:19] recently. There were some stocks that
[01:09:23] did not deserve their book value but whose market value increased
[01:09:26] greatly, reaching more than 100 times
[01:09:30] their book value. These stocks
[01:09:33] can actually be said to have been inflated by this kind of lending
[01:09:37] and collateralization method. Now, let me complete the
[01:09:40] part about money market funds as follows:
[01:09:44] money market funds also contain private sector
[01:09:47] debt instruments. The last example we saw
[01:09:51] was Kontrolmatik. Because private companies
[01:09:54] can actually issue various securities,
[01:09:58] bonds, and notes. That is, they
[01:10:02] can issue valuable papers and say, "You buy this paper and give
[01:10:06] me money. In return, I will pay you back your money
[01:10:09] in a certain maturity and take back the paper you have."
[01:10:13] When they cannot pay this, the private company actually defaults,
[01:10:17] and if the fund holds the paper of this company, the fund
[01:10:21] also loses its income. We had experienced this recently, as I said.
[01:10:24] And on top of that, with the reverse repo transactions made with equity,
[01:10:28] a big problem arose in some money market
[01:10:31] funds. However, we can interpret this as follows:
[01:10:35] money market funds generally yield a little above or a little
[01:10:39] below the deposit interest rate.
[01:10:42] Because they don't only contain deposits, there are other instruments
[01:10:46] as well. If it yields much more than that,
[01:10:50] then there is a problem, I wouldn't say, but there is a different
[01:10:53] transaction and attention should be paid to this. Currently,
[01:10:57] the money market funds that are in trouble, that have defaulted,
[01:11:00] that cannot make participation payments, are generally
[01:11:03] funds that claim to yield much more than the deposit
[01:11:07] interest rate. Of course,
[01:11:10] these funds seemed to yield a lot due to the transaction
[01:11:14] I mentioned earlier, but in reality, the gain was just
[01:11:17] a number on the screen. You couldn't realize the gain
[01:11:21] until you sold it, and at some point,
[01:11:24] you can't grind flour with borrowed water. This had an end, and
[01:11:28] it came. This is the money market fund part. This is a bit more,
[01:11:32] as I said, easy. Because here there are also cash-like
[01:11:36] assets. But in the equity funds, that is, the funds that gave the
[01:11:39] collateral and received money, there is also a problem. If
[01:11:43] we look at the growth rates of these equity funds,
[01:11:46] there are funds that have grown up to 7,000%
[01:11:49] annually. Here we see
[01:11:52] the problem caused by the credit mechanism and
[01:11:55] the collateralization mechanism. We can call it a kind of
[01:11:59] virtual size. Because when you look at it,
[01:12:03] there are companies with 200-300 employees that have surpassed
[01:12:07] the market value of large banks and holdings. But in reality,
[01:12:10] these companies, are they developing a big technology?
[01:12:14] Is their future very bright? You look and say no.
[01:12:18] In fact, it is a company that operates
[01:12:21] within the financial market. For example,
[01:12:24] but you look, its value has increased much
[01:12:28] more than the market value of a bank that could have a medium-sized
[01:12:31] customer. Here, we can actually see
[01:12:35] that there is a kind of manipulation.
[01:12:37] This part is a bit more difficult because
[01:12:41] its liquidation happens as follows:
[01:12:44] even before the CMB made a decision, these funds
[01:12:47] tried to pay this money when investors wanted
[01:12:50] to withdraw their money. How did they do this? Each fund contains
[01:12:54] various stocks. For example,
[01:12:57] let's not name it, a fund had more than 50 stocks,
[01:13:01] but a very large part of it consisted of stocks
[01:13:05] that we can call inflated, in terms of size.
[01:13:08] That is, there are two such
[01:13:10] inflated stocks in it, for example, and
[01:13:14] 48 others are well-known, normal companies that do their business,
[01:13:17] and there are no problems with their financials, etc.
[01:13:21] So, there are well-known Turkish companies. Now,
[01:13:25] when everyone wanted to withdraw their money, they started selling
[01:13:28] the available stocks, and first, they started selling the stocks
[01:13:31] that could be sold and would bring money. This was one of the biggest
[01:13:35] reasons for yesterday's decline. That is, there are stocks
[01:13:39] that always have buyers, and they started selling them.
[01:13:42] After those were gone, only these
[01:13:45] inflated stocks, so to speak, remained. And
[01:13:49] I don't know how right it is to say that these are garbage
[01:13:52] now, because people are also hurting.
[01:13:56] They invested their savings here. I can
[01:13:59] understand people too. It's a sad
[01:14:03] situation, of course. I wish we had done
[01:14:06] our risk assessment better, but sometimes people can be
[01:14:10] blinded or lack information. Maybe we can't say it's garbage,
[01:14:13] but whether it will reach its old value
[01:14:17] in the very long term or not is not clear.
[01:14:20] If this money is to be paid back in the short
[01:14:24] term, then the prices of those stocks,
[01:14:27] their value, will decrease significantly,
[01:14:31] I think. Exactly. The CMB statement
[01:14:34] still doesn't clarify how this liquidation will be done.
[01:14:37] There is a phrase like "it will be liquidated by the method
[01:14:40] to be determined by the board." Of course, there are many
[01:14:44] different methods for this. The board can directly try
[01:14:47] to sell these stocks in the stock market, but ultimately,
[01:14:51] these stocks are now stocks that no one wants
[01:14:55] to buy, and their overpricing has been realized. Therefore,
[01:14:59] their value will decrease significantly. There may
[01:15:02] not even be any buyers, and what we call "going down
[01:15:05] limit down" means that when it falls 10%,
[01:15:09] a circuit breaker will be applied. Whatever is sold, the next day,
[01:15:12] and the day after that, these stocks will be continuously
[01:15:16] attempted to be sold in the stock market. And this will take
[01:15:20] a very long time. Or the CMB can say that
[01:15:24] I will try to sell 1% or 2% of these stocks every
[01:15:27] day to prevent the price from falling too much. In this
[01:15:31] case, payments will be delayed a lot, because those stocks
[01:15:34] need to be sold. Or people can take over the stocks
[01:15:38] directly, but where will they sell these stocks then?
[01:15:41] They will try to sell them in the stock market, or if
[01:15:44] they try to hold them, their value will still decrease.
[01:15:47] Unfortunately, there are many methods for how this liquidation
[01:15:50] will be done. For example, the CMB can also collect
[01:15:54] bids to see if there is anyone who wants to buy them, as I explained
[01:15:58] earlier. It can also try to sell them in over-the-counter
[01:16:00] markets, but not in the stock market.
[01:16:04] We will see how this liquidation unfolds over time. What about
[01:16:07] the measures or solutions announced by the Central Bank?
[01:16:10] It announced that it will increase the funding provided through
[01:16:14] weekly repo auctions, increase the borrowing limits of banks
[01:16:17] from the Central Bank, and reduce collateral discount rates.
[01:16:21] So, when you read this, as you said, there were normal
[01:16:25] stocks and inflated stocks.
[01:16:27] They reached billions of liras in size,
[01:16:31] attracting small investors, and now we are facing a mess.
[01:16:35] So, when we combine these measures taken by the Central
[01:16:38] Bank with the statements of both the CMB and the FSC,
[01:16:42] the question arises: will the state clean up
[01:16:44] the mess? And this actually means that it will cause
[01:16:48] public loss, won't it?
[01:16:52] Unfortunately, such a situation arose.
[01:16:55] Let's think this way: even if nothing
[01:16:58] happens, that is, if the state does not actively
[01:17:01] even if there is no cleanup, when the Central Bank injects liquidity into the market, this
[01:17:05] creates inflation, okay? The amount of money injected is not
[01:17:08] a very large amount, but still, within
[01:17:12] this disinflation program, something that goes against
[01:17:15] the program is being done, and
[01:17:18] inflation is actually an invisible tax that comes out of all
[01:17:22] our pockets, even if we are not very active. We, as all citizens,
[01:17:26] have already taken on this cost.
[01:17:29] It could also be a situation where we become more active.
[01:17:33] For example, the housing companies Katılım Evim and Birevim, which are affiliated
[01:17:36] with Pusula Holding, will be taken over by Emlak Katılım Bankası.
[01:17:40] This could actually be a profitable
[01:17:44] transaction I was going to ask about that, but
[01:17:48] isn't it problematic that such a thing is happening directly
[01:17:51] without any damage assessment work?
[01:17:55] Unfortunately, we cannot fully know what is being done in the background there.
[01:17:58] Of course, these companies have publicly available information,
[01:18:02] as they are listed on the stock exchange, so we can know that, but Emlak
[01:18:05] Katılım Bankası has already stated that negotiations have started
[01:18:09] only for the takeover. We don't know how
[01:18:12] this will continue, but since such a statement has been made,
[01:18:15] it is very likely that they will take over these. For example, it seems
[01:18:19] they will solve a part of the issue
[01:18:22] through Emlak Katılım. The main purpose
[01:18:25] of providing liquidity to banks
[01:18:29] is for intermediary institutions to access this liquidity
[01:18:33] in some way if there is a liquidity problem,
[01:18:35] meaning to access this money,
[01:18:37] etc.
[01:18:46] Various regulations were made, no need to go into details, but it seems we will try to overcome
[01:18:50] this problem by injecting some money into the market.
[01:18:54] But, as I said,
[01:18:57] unfortunately, my prediction
[01:19:00] is that this issue will drag on,
[01:19:02] both that it will drag on and that
[01:19:06] the valuation and appreciation
[01:19:09] that investors in these funds
[01:19:12] expected will be largely reversed by the market.
[01:19:16] In other words, investors will definitely
[01:19:19] get back some of the money
[01:19:22] they invested, but they will get back only a part of it,
[01:19:26] right? Do I understand correctly? Yes, we can understand it like this,
[01:19:30] you understand correctly. The liquidation of a fund
[01:19:33] does not mean the disappearance of the assets within the fund.
[01:19:36] The assets within that fund will be returned to you
[01:19:40] proportionally to your participation shares. However, because we expect
[01:19:43] the value of the assets within that fund in Turkish Lira
[01:19:47] to decrease, you will actually receive
[01:19:50] a significant portion of the money you invested
[01:19:54] at a lower value, if you are one of the late entrants.
[01:19:58] But if you have been an investor in this fund for a very long time,
[01:20:01] you might have even made a profit. Everyone's situation is different
[01:20:05] depending on their entry time but
[01:20:09] unfortunately, it seems
[01:20:12] a lot of people got hurt. So,
[01:20:15] I'm sure you have friends you've talked to
[01:20:18] in your workplace and in different places since this morning.
[01:20:22] These are very large funds and funds that many people invest in.
[01:20:25] There are many people around us who think, "I have some money,
[01:20:29] I'll protect it from inflation and not just earn as much as the inflation rate,
[01:20:33] but earn a little more." and want to invest it
[01:20:36] in places that yield higher returns.
[01:20:40] We also read on social media
[01:20:43] that people have turned to these funds
[01:20:46] instead of meeting some of their needs. This also shows
[01:20:49] something, meaning that
[01:20:53] especially when it comes to money market funds,
[01:20:56] we might need to redefine the risk definitions
[01:20:59] of these money market funds. Or, we call it a reverse repo transaction,
[01:21:03] you see that 60% of the fund is a reverse repo transaction.
[01:21:06] If you do 60% reverse repo with government bonds,
[01:21:10] it wouldn't be very risky. But if you do it with a private
[01:21:13] sector stock, meaning with a company's stock,
[01:21:17] then it is very risky. So you are actually taking
[01:21:20] all the risk of that stock. Therefore, its risk
[01:21:23] classification needs to change much faster. Maybe it should have a risk
[01:21:27] classification similar to a stock fund. But what we saw there was, for example,
[01:21:30] risk class 2 up to 7.
[01:21:33] These classes go up to 7, maybe it should be 5 or 6,
[01:21:37] so that people, at first glance,
[01:21:41] it's the only indicator they can see, namely, a price,
[01:21:45] and what is the risk of this business? These two needed to be defined correctly.
[01:21:48] Unfortunately, as far as we have seen,
[01:21:51] neither the price nor the risk classification
[01:21:55] in these funds managed by these portfolio management companies
[01:21:59] were correct. I will also ask this in just
[01:22:02] one sentence, Mr. Enes. We talked about
[01:22:06] 7 companies and 130 funds, but do you think this number
[01:22:10] could increase in the coming days?
[01:22:13] Unfortunately, I don't have any data on this, so I can't give a clear answer.
[01:22:17] I even thought that
[01:22:20] there might have been a mistake with some of these 7 companies,
[01:22:24] because I didn't expect it to be so widespread.
[01:22:27] Our financial tradition, our mutual fund tradition,
[01:22:31] is quite deep-rooted. There is an experience
[01:22:34] that has existed since the 1970s. Unfortunately,
[01:22:37] in recent times, there have been rumors that transactions regarding these funds
[01:22:41] were made with different motives rather than economic rationality,
[01:22:44] that the management structure was not transparent
[01:22:47] but more complex, or that the money
[01:22:50] invested here might have come from different sources.
[01:22:54] These, of course, cannot be openly
[01:22:58] expressed in the end, but I honestly
[01:23:01] haven't heard such rumors
[01:23:05] about other funds. Therefore, I hope
[01:23:08] it won't spread, but unfortunately,
[01:23:11] we don't have solid data on this. Thank you very much.
[01:23:14] Thank you for joining
[01:23:18] and for the information you shared. You're welcome, have a good broadcast.
[01:23:22] Thank you. Now,
[01:23:25] let's continue with traffic fines.
[01:23:27] As you know, we've been talking about them for quite some time.
[01:23:31] When we look at the budget, one of the main items
[01:23:34] of budget revenues is traffic fines,
[01:23:38] and the other is taxes. The traffic fines collected so far
[01:23:41] have exceeded the 8-month budget deficit. While traffic fines
[01:23:45] constitute 31 liras of every 100 liras
[01:23:48] of fines entering the treasury, traffic fines were also the most successful
[01:23:52] in the collection.
[01:23:56] The leaders of the state should pray for the people, otherwise they will starve without us.
[01:23:59] They should pray for us. The monetary fines
[01:24:03] that entered the state budget from citizens' pockets exceeded the 8-month budget deficit.
[01:24:07] Approximately 31 liras of every 100 liras
[01:24:10] of monetary fine revenue is made up of traffic fines.
[01:24:14] The largest share comes from traffic fines. Do you feel this? We do.
[01:24:18] Hissediyor musunuz bunu? Hissediyoruz.
[01:24:25] I just spoke with my friend, he got a big fine. The total amount of monetary fines issued to citizens in the first three quarters of 2026, which is 8 months, reached 1 trillion
[01:24:28] 369 billion liras. However,
[01:24:32] when it came to the collection of monetary fines,
[01:24:35] the same performance
[01:24:37] could not be achieved.
[01:24:40] The fines are very heavy, so I pay attention, meaning we follow the rules.
[01:24:43] Are we more careful because they are high? Yes, exactly.
[01:24:46] The total monetary fines issued between January and August
[01:24:50] quadrupled the target of 348
[01:24:53] billion 398 million 600 thousand
[01:24:56] liras in monetary fine revenue for the entire year.
[01:25:00] However, only 196 billion liras
[01:25:03] of these fines issued on paper could be collected.
[01:25:07] Thus, as of August, only 56.3%
[01:25:10] of the year-end revenue target was achieved.
[01:25:13] As you can see, the fines are heavy. Of course, we also need to
[01:25:16] follow the rules during this time. High.
[01:25:21] But this will not end well. Traffic fines were the most successful
[01:25:24] in collection, and a target of
[01:25:27] 73 billion 344 million 500 thousand
[01:25:30] liras in traffic fine revenue was set for the end of the year.
[01:25:33] 83.9% of this target was reached
[01:25:36] between January and August. As of the end of August,
[01:25:39] 135 billion 180 million 600 thousand
[01:25:42] liras in traffic fines were issued to citizens,
[01:25:45] and 61 billion 516 million liras of this money
[01:25:48] was collected. Many thanks to Mehmet Şimşek for your traffic fines.
[01:25:52] Mehmet Şimşek is my fellow townsman, but shame on him. I'm not saying anything.
[01:25:55] Another item that stood out in collection performance
[01:25:59] was tax penalties. As of the end of August,
[01:26:03] tax penalties totaling 812 billion 550 million liras
[01:26:06] were issued, mostly to companies, but
[01:26:10] only 11% of this could be collected. While 196 billion liras
[01:26:14] in collections were targeted for the end of the year,
[01:26:17] the tax penalties that could be collected in 8 months
[01:26:20] remained at 80.9 billion liras. For example, if there's a fine here,
[01:26:23] I turn back from above, I don't make a U-turn there,
[01:26:26] because the fines are high, 5,000, plus our license is taken away.
[01:26:30] Our license is everything, as you know.
[01:26:36] In the Aegean Sea, Greece and Turkey once again clashed.
[01:26:39] The island of Meyis is actually an island
[01:26:43] with a non-military status, but Greece continued to station
[01:26:46] soldiers there, and even the Prime Minister
[01:26:50] visited them. Turkey also took a step. The Ministry of National Defense
[01:26:53] announced that the 51st Commando Brigade was moved to Aydın Söke,
[01:26:57] the closest region to Greek territory.
[01:27:01] The 51st Commando Brigade
[01:27:04] was moved to Söke. The Ministry of National Defense,
[01:27:07] stating that this decision was taken in June, said that necessary
[01:27:10] arrangements are being made in line
[01:27:13] with the duties and operational needs of our Turkish Armed Forces.
[01:27:17] The relocation of the 51st Commando Brigade
[01:27:20] from Tunceli to Aydın Söke was a step taken
[01:27:24] after Greek Prime Minister Mitsotakis's visit to Meis Island
[01:27:27] on September 10 and his contact with military elements.
[01:27:31] kurmasından sonra atılan bir adım
[01:27:33] We emphasize once again
[01:27:38] that attempts to create a de facto situation
[01:27:42] contrary to the non-military status of Meis, which is very close
[01:27:45] to the Turkish coast, are incompatible
[01:27:48] with international obligations and will not be accepted by our country.
[01:27:52] The Ministry of National Defense responded to the Greek Minister's
[01:27:55] images with military elements. The Ministry
[01:27:59] recalled the 1947 Paris Peace Treaty. It was stated that
[01:28:02] "we emphasize once again that it will not be accepted
[01:28:05] by our country."
[01:28:07] Ankara strongly reacted
[01:28:13] to the Yemeni Houthis' attempt to attack Mecca with a UAV.
[01:28:16] The Ministry of Foreign Affairs made a written statement:
[01:28:21] "We strongly condemn the Houthi UAV attack
[01:28:25] targeting the holy city of Mecca." It was stated.
[01:28:28] "We reiterate our support for Saudi Arabia's sovereignty,
[01:28:32] territorial integrity, and security.
[01:28:35] We emphasize once again our solidarity
[01:28:38] with Saudi Arabia." The Ministry
[01:28:41] reiterated its call for an immediate end
[01:28:45] to these attacks, which threaten regional stability and security,
[01:28:49] and for all actions aimed at further escalating
[01:28:52] tensions to be avoided. AK Party spokesman Ömer Çelik
[01:28:56] also said that they condemned
[01:28:59] the drone attack targeting Mecca.
[01:29:02] girişimi lanetlediklerini
[01:29:04] Now, the war between
[01:29:11] the United States and Iran sometimes intensifies, sometimes calms down.
[01:29:15] What will be the latest situation? It's a matter of curiosity.
[01:29:18] A statement came from Trump. In fact, statements continue to come intermittently.
[01:29:22] He had said that the war would end after the elections. Now he said that the end of the war is very near.
[01:29:26] But on the other hand, a news report and images
[01:29:30] exploded in the American press. It was alleged that "the war
[01:29:33] is very different from what the Washington administration told the outside world,
[01:29:37] and especially that the damage
[01:29:40] to US bases in the Middle East is significant."
[01:29:44] sürüldü.
[01:29:48] US President Donald Trump once again made optimistic statements
[01:29:51] regarding the end of the war with Iran.
[01:29:53] etti.
[01:29:56] Trump stated that they continue direct contact with Tehran
[01:29:59] and that "Iran wants to make a deal very much."
[01:30:03] He said, "I hope we are nearing the end of the war."
[01:30:05] konuştu.
[01:30:08] While Trump was saying these, American CBS television
[01:30:11] published a striking report about the days when the war was in full swing.
[01:30:15] They published photos showing the extensive damage
[01:30:19] caused by Iran's retaliatory attacks to American bases in the Middle East.
[01:30:23] yayınladı.
[01:30:25] The photos, allegedly leaked by US soldiers serving at the bases,
[01:30:29] clearly revealed for the first time the destruction
[01:30:33] suffered by American bases.
[01:30:34] In the photos showing bases
[01:30:38] in Saudi Arabia, Kuwait, and Jordan, unusable aircraft,
[01:30:42] burned ground vehicles, and demolished buildings are striking.
[01:30:45] The destruction revealed by the leaked photos
[01:30:48] is consistent with the report published by the Department of Defense
[01:30:52] this week. The report states that the total value of equipment losses
[01:30:55] in the Iran war, including approximately 60 aircraft, reached
[01:30:59] 3.7 billion dollars.
[01:31:32] pulled forward the closing date of the Parliament by one day in order to prevent the proposed motion
[01:31:36] from being voted on. Thus, the fate of the motion
[01:31:39] was left until after the midterm elections in November.
[01:31:43] kaldı.
[01:31:46] Now there are many important issues, we will talk about this, meaning the US bases in the Middle East,
[01:31:49] the serious damage that emerged there was reflected in the press,
[01:31:53] what kind of reaction came? Afterwards, next week
[01:31:56] there will be the United Nations General Assembly. President Erdoğan and US President Donald Trump
[01:32:00] will meet, this statement came from Tombarak. In the US,
[01:32:04] the Fed raised interest rates. How was that received? We will talk about all of them. Let's return to the US.
[01:32:07] Serra Karaçan is with us. Serra, welcome.
[01:32:11] Good broadcast, Güzem, thank you very much. Thank you. Now the images are very striking.
[01:32:15] So I want to start with this, even if it's brief. There is serious damage.
[01:32:19] It was also reflected in the press, how was it received there?
[01:32:22] Yes, the news very nicely and detailedly explained
[01:32:25] the big picture. There are attempts to impeach.
[01:32:29] Some Republicans. Congressmen who dared to confront
[01:32:32] Trump also support these. One thing is clear:
[01:32:36] Trump's optimism and the reality on the ground
[01:32:39] are not the same. This has been confirmed once again.
[01:32:42] Until now, we were always talking about the depletion of ammunition.
[01:32:45] We were discussing the inconsistencies here. But now it has become clear once again
[01:32:49] that Trump, who says Iran is desperately seeking negotiations,
[01:32:52] needs to see that the situation is not really like that.
[01:32:56] Many people are also continuing to call for him to leave.
[01:32:59] On the other hand, questions about transparency
[01:33:03] have come up again, not only about casualties,
[01:33:07] but also about the extent of the damage and how much minimum
[01:33:10] capacity has been lost. These questions have come up again.
[01:33:14] These are the points questioned in the press.
[01:33:18] Also, why are there so many leaks? Because even though
[01:33:21] BBC confirmed these photos
[01:33:23] and independent sources state that they are consistent
[01:33:27] with Pentagon reports, actually,
[01:33:31] many news and intelligence information have been leaked from the Pentagon so far.
[01:33:35] These are interpreted
[01:33:37] as being deliberately leaked, and can also be seen as an example
[01:33:41] of the crisis of trust and conflict within the army.
[01:33:45] And it can also be seen as a challenge to the Secretary of Defense.
[01:33:48] There is also the cost issue. It's not just a figure.
[01:33:52] Normally, they had said 33 billion dollars, a total of
[01:33:55] 40 billion is being discussed as the cost of the Iran war,
[01:33:59] but it is reported that this participation
[01:34:02] in the war caused 100 billion dollars
[01:34:06] of damage to the American consumer. Of course,
[01:34:09] the situation of the allies and relations with allies
[01:34:12] and the erosion of the Gulf's trust in America is a separate issue.
[01:34:16] It is reported that the equipment loss is 3.7 billion dollars
[01:34:19] and 60 planes were damaged in these attacks.
[01:34:22] Of course, the Iranian attacks targeted bases in Kuwait, Bahrain, Qatar,
[01:34:26] Oman, and they destroyed many
[01:34:30] buildings and structures, let's add that. Now,
[01:34:33] next week there will be the United Nations General Assembly. Tombarak
[01:34:37] announced that the two leaders will meet. President Erdoğan and Trump
[01:34:41] will meet. It was the same last year.
[01:34:44] Is the schedule clear, or do you have other details,
[01:34:48] Serra? Yes, actually, at the end of this month, at the end of September,
[01:34:52] in Washington. There are two critical meetings, one in New York
[01:34:55] and one in Washington. One is in New York
[01:34:59] where we expect Erdoğan to meet with Tom Bararak at the 250th anniversary reception
[01:35:02] in Istanbul, which took place a week ago in Ankara for America's 250th
[01:35:06] anniversary celebrations. Based on his statement there,
[01:35:10] there will be a bilateral meeting between Trump and Erdoğan.
[01:35:13] eee Trump'la Erdoğan arasında.
[01:35:20] As you know, America's Ambassador to Ankara, who is also the Special Representative
[01:35:23] for Syria and Iraq, Barack, is constantly referred to
[01:35:27] in American circles as Erdoğan's man.
[01:35:30] President Trump and Erdoğan's good relations are already known, so such a meeting
[01:35:34] on the sidelines of the UN would not be surprising. President Erdoğan is expected to depart
[01:35:37] at 3 PM Turkish time on Sunday. His program in New York
[01:35:40] will be finalized on Monday. And he will attend the "100 Years of Friendship" program,
[01:35:44] which we know is such an event between America and Turkey.
[01:35:47] On Tuesday, he will address
[01:35:51] the United Nations General Assembly. He is expected to stay at the UN
[01:35:55] until 2 PM after this address.
[01:35:58] Afterwards, there are bilateral meetings
[01:36:01] with leaders at the UN headquarters in his program.
[01:36:04] Currently, the names of the bilateral meetings in President Erdoğan's program
[01:36:08] are not yet clear. There are only slots for bilateral meetings.
[01:36:11] Which leaders will be present is not yet settled.
[01:36:15] Of course, Turkey will also hold some meetings there. However,
[01:36:18] it is striking that there will be a regional meeting on Gaza
[01:36:21] led by Trump, similar to what we experienced
[01:36:25] at the 2025 UN General Assembly last year. Last year, such a Gaza meeting
[01:36:28] was held with the participation of various leaders from Gulf countries
[01:36:32] and presidents of Muslim states. This year, it is currently tentative,
[01:36:35] but such a meeting is expected.
[01:36:38] But it will be a meeting on Iran, not Gaza, right Serra?
[01:36:42] Currently, in President Erdoğan's program,
[01:36:45] it is listed as a meeting on Gaza, with an unspecified note.
[01:36:48] That's what I can say Ankara sources
[01:36:52] are providing. At the NATO summit,
[01:36:56] as you know, Trump and Erdoğan met
[01:37:00] in Ankara. During that meeting,
[01:37:03] many issues such as the F-35 program, the engines of the Kaan fighter jets,
[01:37:07] and CATSA sanctions were discussed. And Trump told reporters,
[01:37:10] "Our relations have never been this good." And he said
[01:37:14] that Turkey has become a very powerful country under the leadership of the president.
[01:37:17] He makes such compliments from time to time.
[01:37:21] We also know that he frequently refers to Erdoğan's role
[01:37:24] in the Syrian situation. More importantly,
[01:37:28] about 9 days ago, President Erdoğan and America's Ambassador to Ankara,
[01:37:31] Barrak, held a meeting,
[01:37:35] and Erdoğan received him. This was also a closed-door meeting.
[01:37:38] House of Representatives member Daryl Issa also
[01:37:41] attended this meeting. Of course,
[01:37:45] the 81st session begins on September 22nd. The high-level week will last
[01:37:48] until September 28th. This year's theme of the UN General Assembly
[01:37:52] is to rebuild trust and manage transformation
[01:37:55] and a UN that delivers results for everyone. The ineffectiveness of the UN
[01:37:58] has been discussed for years. Erdoğan is also expected
[01:38:02] to speak on the opening day on Tuesday, as the 4th speaker.
[01:38:06] However, at the same time, on September 24th,
[01:38:09] President Trump will host the Chinese President
[01:38:13] in Washington. Shin Ping
[01:38:17] is coming to Washington on September 24th, and Trump is expected
[01:38:20] to greet him at Andrews Air Force Base,
[01:38:24] with a ceremony there. This is quite important,
[01:38:27] because for a long time,
[01:38:31] we haven't witnessed an American president
[01:38:34] doing such a welcoming. This week,
[01:38:38] I also saw with my own eyes at the White House
[01:38:41] that bands are rehearsing for his reception at the White House.
[01:38:45] We can say that there is also a feverish preparation there.
[01:38:49] Let's also add this: Jim Ping did not meet Trump at the airport,
[01:38:52] but Trump will meet him at the airport.
[01:38:55] There are also tense issues there, of course. Of course, Erdoğan will also have
[01:38:59] meetings with the Turkish community in addition to these diplomatic meetings.
[01:39:03] There will be an event with Taik, the American Business Council, and Seta. He is also expected to meet with NGOs, Task, MÜSİAD,
[01:39:06] and the presidents of Muslim organizations in America.
[01:39:10] Now, the Chinese leader
[01:39:14] seems to be receiving a very fancy welcome.
[01:39:17] Let's see how it will be received, but at the same time,
[01:39:21] I think we will continue the discussions we left last year
[01:39:25] with the meeting of President Erdoğan and Trump this year. Has the F-35
[01:39:28] arrived? Are there engines for the Kaan? Have the CATSA sanctions been lifted?
[01:39:31] We will also evaluate these. Also, do you think this will come up,
[01:39:35] or should we bring it up? Now, an attack was carried out on Mecca,
[01:39:39] or rather, Saudi Arabia said that a UAV was neutralized.
[01:39:42] They said it came from the Houthis. They denied it, but
[01:39:46] we agreed with Saudi Arabia's statement. Yes, we said that the Houthis carried out
[01:39:50] this UAV attack, and we are making statement after statement,
[01:39:53] condemnation after condemnation. Now, the Mecca Agreement
[01:39:57] has also come on the agenda, because there is also
[01:40:01] a situation called an agreement, in quotation marks, where we expressed
[01:40:04] wishes with Saudi Arabia and Pakistan. What is the essence of this?
[01:40:08] Yes, actually, it resonated a lot
[01:40:10] in America for two days. American Representative Joe Wilson,
[01:40:14] chairman of the Turkey-America Friendship Group, also made a social media
[01:40:17] post two days ago. Turkish and Pakistani officials
[01:40:21] actually stated that they did not receive any support request
[01:40:24] from Saudi Arabia. When we look at international agencies,
[01:40:28] we see that officials gave such statements, both from the Turkish side
[01:40:31] and from the Pakistani side.
[01:40:34] therefore, it was clearly
[01:40:37] stated that the alliance has not become functional
[01:40:41] and institutionalized. In Turkey, it was not
[01:40:44] approved by the Grand National Assembly of Turkey. As far as I know, there is a similar parliamentary
[01:40:48] system in Pakistan. Therefore,
[01:40:51] while Turkey strongly condemns the Houthi attack,
[01:40:54] a statement came from the Directorate of Communications. A statement
[01:40:58] came from the Ministry of Foreign Affairs, saying that they
[01:41:02] do not accept such a targeting of Saudi Arabia and the holy city
[01:41:05] of Mecca, the Kaaba. They called for it to stop. The Houthis,
[01:41:09] meanwhile, say "we didn't do this drone attack,"
[01:41:12] from Joe Wilson, the head
[01:41:15] of the Turkish-American Friendship Group, no American official
[01:41:18] has made such a military call to Turkey,
[01:41:21] because these three countries have not conducted a joint
[01:41:25] exercise, their parliaments
[01:41:36] have not approved it, they have no such preparations. The call to destroy the Houthis
[01:41:40] by helping Saudi Arabia was exactly this in quotation
[01:41:43] marks. This shows once again how isolated and
[01:41:46] detached from reality this is. In Turkish-American
[01:41:50] relations, Wilson is an example of those who try to conduct
[01:41:53] business in the friendship group, which we call a caucus.
[01:41:56] Yes. He comes to the events of Turkish-American
[01:41:59] associations. When there are cultural days in Congress,
[01:42:02] he both comes himself and provides the venue, trying to help.
[01:42:06] But he is not even aware of this issue and can make this call,
[01:42:10] even when the agreement was signed, he commented that
[01:42:14] it was Trump's success and a step that would bring
[01:42:18] stability to the Middle East. Another important hidden
[01:42:21] aspect is that there is a new situation that will change
[01:42:24] the regional power balance between America and Saudi Arabia:
[01:42:28] a nuclear agreement, a Mecca Pact, in front of Iran.
[01:42:31] The fact that Turkey will enter into something that
[01:42:34] binds itself with an article like NATO's Article 5,
[01:42:38] which can take Saudi Arabia's side, is naturally being discussed,
[01:42:42] because this nuclear agreement is even being discussed
[01:42:45] in America. So, senators from both parties, just
[01:42:49] yesterday, asked the Trump administration to declassify
[01:42:52] additional secret letters and statements related
[01:42:56] to the agreement. There are some Republicans who disagree
[01:42:59] with Trump, especially them, who say that this should
[01:43:03] not be allowed, meaning that Saudi Arabia will start
[01:43:06] nuclear enrichment, which Iran is doing. They say
[01:43:10] they are concerned about this. One of these names
[01:43:13] is John Kennedy. Therefore, it is clear that there
[01:43:16] is a reservation about Saudi's nuclearization in both
[01:43:20] parties, apart from the Democratic-Republican conflict. If Saudi gains
[01:43:24] such a capacity, they are trying to present
[01:43:27] it as a balance against Iran's nuclear program.
[01:43:31] But other countries, the United Arab Emirates,
[01:43:34] Egypt, may also want this. What role the Mecca
[01:43:38] Pact will play, we will naturally follow
[01:43:42] this, because it is an agreement focused on guaranteeing
[01:43:45] Saudi Arabia's security, and now Saudi Arabia can
[01:43:49] also press for nuclear acquisition, saying "this
[01:43:53] agreement doesn't work, how will I protect myself?"
[01:43:56] Therefore, some risks are
[01:44:10] foreseen, and we can say that there are opponents
[01:44:13] on the political scene in America as well. Now,
[01:44:16] quickly, the United States' wishes were not
[01:44:20] fulfilled again. The US Federal Reserve
[01:44:22] (Fed) blindsided Trump, raising interest rates
[01:44:26] by 25 basis points with a unanimous vote.
[01:44:29] Thus, the interest rate rose to the 3.75-4
[01:44:33] range. Trump had appointed
[01:44:34] Kevin Wash to head
[01:44:40] the Fed to lower interest rates, but even this appointment
[01:44:43] did not work. The Fed raised interest rates
[01:44:46] for the first time since 2023. After the decision,
[01:44:50] Fed Chairman Kevin Wars made a statement, saying
[01:44:53] that inflation has been high for a long time.
[01:44:56] He emphasized that the priority
[01:44:58] is 2% inflation. He
[01:45:01] said, "We believe that we will achieve price stability
[01:45:04] at the right time with the unanimous decision."
[01:45:08] This interest rate hike may not be the last.
[01:45:12] Fed officials signaled another interest rate
[01:45:16] hike before the end of the year. Trump showed his reaction
[01:45:19] on his social media account. He said that interest
[01:45:21] rates should be lowered
[01:45:23] to 1% or below. Trump used the expressions "this
[01:45:27] cannot continue" and "lower interest rates
[01:45:30] for the USA, and quickly." In August, consumer prices
[01:45:34] in the USA increased by 0.4% monthly. This
[01:45:37] means a 4-fold increase
[01:45:44] compared to July. Annual inflation remained unchanged
[01:45:47] compared to July, reaching 3.4%. The interest rate
[01:45:51] hike after 3 years, Trump's reaction. I have two minutes,
[01:45:54] I'm leaving the floor to you. Yes, actually, the
[01:45:58] Fed chairman he chose, along with the 12-person
[01:46:02] board, all voted together. Trump himself admitted
[01:46:05] that he told them not to vote differently from
[01:46:08] them, and that even if they did, it wouldn't
[01:46:11] make a difference. He claims that they are acting
[01:46:15] with hatred for political reasons, with the aim
[01:46:18] of making him look unsuccessful. He argues that this interest
[01:46:21] rate hike is artificial and unnecessary. Of course,
[01:46:25] this is not true, as Warsch explained yesterday.
[01:46:28] And another interest rate hike is expected in the United
[01:46:32] States before the end of the year. But if you ask if this
[01:46:35] will affect the financial situation of Americans
[01:46:39] much, inflation due to the war has already affected Americans.
[01:46:42] If Americans have fixed-rate home loans or car loans,
[01:46:45] or if they have used any savings products, nothing
[01:46:48] changes. But for new loans, it is expected that rates
[01:46:51] will rise soon for people who apply for credit due
[01:46:55] to inflation. Trump's economic performance is weak,
[01:46:58] approval ratings are 37-40. After this step in America,
[01:47:02] a step probably came in England. How will investors
[01:47:05] react to this picture? On the other hand, there
[01:47:08] is a tension with Canada, as you know. He is trying
[01:47:12] to strengthen ties with Europe. Now, sanctions against Russia
[01:47:15] are on the agenda with Trump's customs wars.
[01:47:19] Customs up to 100% for countries buying natural
[01:47:23] gas from there. He penalized Canada with customs. How
[01:47:26] does the world read all this, and how will central
[01:47:29] banks around the world decide on interest rates?
[01:47:33] The main problem is the way they perceive the general
[01:47:36] economy, not the increase in interest rates. But Trump
[01:48:05] and Canada have better credit
[01:48:13] ratings. Gizam. Thank you very much for participating.
[01:48:16] Thank you for the information and data. We have come
[01:48:19] to the end of our time with this connection. We
[01:48:22] are concluding. You will be on Halk Ana Haber.
[01:48:25] Good evening. Orbus. Gold belongs
[01:48:28] to everyone, but a bracelet is a strong man. Years
[01:48:31] of savings, the tradition
[01:48:39] of these lands, Turkey's
[01:48:59] bracelet is Koçak. Koçak, my dear mother,
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[01:49:07] how much you have to think about when you become
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[01:50:50] TV has switched to its new frequency on
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[01:50:57] has the TKGS feature, you don't need to do anything.
[01:51:01] How will you adjust the frequency for satellite
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[01:54:31] with education." To make the unheard heard,
[01:55:05] to say the unsaid, to show the unseen.
[01:55:07] From the street to politics, from the market
[01:55:11] to the markets, from street stalls to large supermarket shelves.
[01:55:15] Every weekday morning from 7 to 10.
[01:55:18] While Turkey wakes up to the day,
[01:55:21] we will be here, in this studio, together.
[01:55:24] We eat the most expensive food, we use the most
[01:55:28] expensive phones. You do it. For example, eggplants, peppers,
[01:55:32] and tomatoes produced in Antalya are transported
[01:55:35] to Istanbul by trucks. In between, there
[01:55:39] are wholesalers who take their commissions.
[01:55:42] Therefore, expensiveness also comes from there.
[01:55:46] As long as this economic order continues, it
[01:55:50] is not possible, they cannot fix the economy.
[01:55:54] Now, there is indeed expensiveness, that's
[01:55:57] right. Of course, foreign capital, foreign brands,
[01:56:01] these have become very important in daily
[01:56:05] use. But if we, as a country, protect
[01:56:09] our own values, if we produce our
[01:56:12] own phones, our own cars, and use them,
[01:56:15] maybe we can overcome all of these, I think.
[01:56:18] We still haven't solved that. Indeed, inflation
[01:56:22] is rising quite a lot, salaries are quite
[01:56:25] low. Child care, then house rents,
[01:56:28] I don't know, it's quite messy. We can't
[01:56:32] get out of it, the situation is not very
[01:56:36] good because of the government. I have nothing to say,
[01:56:40] because whatever we say is meaningless.
[01:56:42] It's because the country is not well managed.
[01:56:46] I mean, right now, our country can really
[01:56:49] support not only 85 million but maybe 180
[01:56:52] million people, but because the administration
[01:56:56] is not good, or rather, because the rulers
[01:56:59] are not good, they put this expensiveness
[01:57:02] on the people. It's really very difficult,
[01:57:06] it shouldn't be like this. "We have children,
[01:57:09] let's say we are fine. Some go to school,
[01:57:12] they need money. We will buy books and
[01:57:15] pens, how will we buy them if there
[01:57:18] is no money? I can barely pay my house
[01:57:22] rent with my retirement salary. Besides that,
[01:57:26] water, electricity,
[01:57:27] food, how will I make
[01:57:43] ends meet? Nothing will happen without
[01:57:46] the AKP leaving. The AKP must leave,
[01:57:49] it has to leave, because there is no
[01:57:53] money. They are also gone, they have ruined
[01:57:57] the nation. It's a sin, it's a sin
[01:58:00] to these people. I've never seen such a
[01:58:03] thing. In their time, in Ecevit's time,
[01:58:23] they already took him away. Nobody
[01:58:26] wanted him. Why Ecevit? He was an honest man. Really,
[01:58:30] whoever the next government is, they
[01:58:33] must give money to us, the workers,
[01:58:37] civil servants, and retirees. This country
[01:58:40] will both have trade and improve. We
[01:58:43] have no other choice." We are with you,
[01:58:46] ladies and gentlemen, on Halk Ana Haber.
[01:58:49] Now, of course, we will say that the
[01:58:53] bill is for the public. We can say
[01:58:56] this about many issues. For example,
[01:58:59] the bill for the record price of diesel
[01:59:03] is, of course, for
[01:59:06] the public. The bill for ignoring the will
[01:59:09] of the nation is for the public. The
[01:59:12] fund bubble burst, the stock market crashed,
[01:59:15] the bill is for the public. That's why, and for many
[01:59:18] other things, we say
[01:59:23] the bill is for the public and we
[01:59:26] begin. Who held it, who brought it,
[01:59:29] who approved it, who turned a blind eye to all this?
[01:59:33] Actually, this issue had been warned about
[01:59:37] many times months ago. We are talking
[01:59:41] about the crisis that started with
[01:59:44] the default of fund management companies
[01:59:48] in Turkey and the effects of this crisis.
[01:59:51] Small investors are ruined, devastated.
[01:59:55] Now they are worried about what they will
[01:59:58] do. They don't know exactly what they
[02:00:02] should do. They don't know exactly what
[02:00:06] might happen in the future. It's a crisis
[02:00:10] of billions of liras
[02:00:12] affecting hundreds of thousands of investors.
[02:00:16] Afterward, the Financial Stability Committee