Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00More information convened extraordinarily,
00:00:01Bestel. 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.
00:00:10Turkey's energy depot. Orbus.
00:00:28Welcome to Halk TV, dear viewers, I am Gizem Çetin, we are here with you in parentheses.
00:00:31The date is September 17, 2026,
00:00:34Thursday, and what will we mainly talk about today?
00:00:38The earthquake in the fund market, the upside-down
00:00:42markets, anxious investors, and also
00:00:45the measures announced one after another today, but which I think are
00:00:49late. We will detail these today for
00:00:522 hours in 2 time slots, but if you wish,
00:00:55as always, let's start by taking the pulse
00:00:59of politics. Let's return to Silivri. The second
00:01:02hearing in the IBB case continues. So, what happened today?
00:01:06Let's get the important details and particulars from Gamze Altunay.
00:01:10Gamze,
00:01:15yes, the last session of 5 weeks is taking place. Today
00:01:19it was quite busy again, we can say. The number of people heard
00:01:23has exceeded two hundred. When I left, 210 people were being heard.
00:01:26115 people remain to be heard. 325 names
00:01:29have been completed. Will Ekrem İmamoğlu be given a time limit then? How much
00:01:33time will be given? We will see that in the coming period. On the one hand,
00:01:36while these names are being heard, a new review of their detention
00:01:40will be conducted. When? At the end of this month, at the beginning of October.
00:01:43Will there be a release? We will also see that in the coming period. But we reminded
00:01:47you yesterday, let's remind you again today. This week is also ending. In September,
00:01:51Buğra Gökçe also pointed out that their
00:01:54execution period had expired. There were nine names whose detention
00:01:58periods reached 18 months in September. And these names are still
00:02:01awaiting their release. Yesterday was a busy day again.
00:02:05We went up to 200 names. The names who benefited from effective
00:02:08remorse were heard. Today, especially action 137
00:02:11is an action written about Isfalt's tenders.
00:02:14This is it. Defenses regarding these tenders
00:02:18are being made one after another. What is being said?
00:02:21One of the particularly noteworthy defenses
00:02:24was this: a name
00:02:27stated that he resigned and left there in 2019. Who was this name? Former
00:02:31Isfalt General Manager Ahmet Ağarman said that he left Isfalt on
00:02:34July 18, 2019, but that it was written
00:02:38that he approved the tender approximately 5.5 years later. He used
00:02:41the expression "Such a thing is not possible." Then,
00:02:44Ahmet Önal, the Branch Manager of European Side Rail Systems,
00:02:47made his defense. His interrogation took place. During
00:02:51his interrogation, Ceyhun Avşar, the Head of the Detained Rail Systems Department,
00:02:54asked him questions. He asked about a WhatsApp message mentioned
00:02:58in the indictment.
00:03:02He said, "Fatih abi will receive the statement," and here
00:03:06the prosecution considered this name to be Fatih Keleş.
00:03:09He asked about this. In response to Avşar's question, Önal
00:03:13used the expression, "Fatih in this message is our Fatih abi
00:03:16from Metro Istanbul." Again, a confusion in the indictment
00:03:19was highlighted during this interrogation. Previously,
00:03:23since the names of the agencies were mixed up, here the defense of the wrong
00:03:26agency's official, also as an un-detained defendant,
00:03:39we learned that it did not exist with this interrogation. Again, former IBB
00:03:41Deputy Secretary General Murat Yazıcı was at the podium. As I
00:03:45just said, he stated that he had no role as principal
00:03:48or agent in the crime of bid rigging.
00:03:51The defendants of actions 65 and 66 are the same. He said,
00:03:55"My name is here due to a copy-paste operation,
00:03:58and there is no concrete evidence." They used
00:04:01these expressions. In general, I can say that
00:04:05we continue to hear what we have been hearing since the very
00:04:08beginning, since the first hearing, Gizemçetin. It is persistently
00:04:11said that it is a copy-paste indictment. Many contradictions
00:04:15in the indictment are being highlighted, and in this way, both defenses
00:04:19and interrogations continue. Today, we are again expecting Mahir Polat
00:04:23to be at the podium. Murat Kapkin's wife is also one of the names expected
00:04:27to make a defense today. But will different names come? Who will make
00:04:30their defenses, especially those who benefited from effective
00:04:33remorse, today? Who will they be, and how long will their interrogations
00:04:37last? Because yesterday, the court president had to extend the hearing, which he said
00:04:41would end at 10, by an hour, due to the long interrogation. What
00:04:44will happen today? What will be said? What will be asked? We are following
00:04:48everything to report it all. Let's hand it back to you. Yes, we thank
00:04:52Gamze Altunay. In fact, it is a topic that has been discussed
00:04:56since the indictment first emerged. It is still being discussed
00:05:00in the courtroom. The copy-paste issue and also the contradictions,
00:05:03the contradictions in the indictment, and the details
00:05:07that emerged today were shared by Gamze Altunay. Yesterday,
00:05:10however, very striking things happened. The confessor did not recognize
00:05:14the person he gave money to in the courtroom. Dinçer Kantar
00:05:18said he handed over 185,760 dollars to Hüsnü Yüksel
00:05:21Tunar, but he couldn't recognize Tunar,
00:05:25whom he said he gave the money to. It's not limited to this. We
00:05:28continue. Businessman Hüsnü Akan, who allegedly gave 500,000
00:05:32TL worth of market cards, said he saw Elçin
00:05:35Karaoğlu in court for the first time and learned of the existence
00:05:38of the cards from the indictment.
00:05:46In the IBB case, the confessor did not recognize
00:05:49the person he said he gave money to in court. The person
00:05:52who allegedly gave market cards also said, "I learned of the existence of the cards
00:05:56from the indictment."
00:06:00The IBB case, in which 414 people,
00:06:04including IBB President Ekrem İmamoğlu, are being tried, continues. Since
00:06:08August 17, more than 190 un-detained individuals
00:06:11have made their defenses.
00:06:15While the defenses continue, the questions raised also highlight
00:06:19the contradictions in the indictment. Businessman Dinçer Kantar
00:06:22made his defense. Upon the court president's
00:06:26question, Kantar said he handed over
00:06:29185,760 dollars to Hüsnü Yüksel Tunar in the parking lot
00:06:33across from his office.
00:06:34dedi.
00:06:37Then the detained individuals
00:06:39asked questions.
00:06:42Tunar asked Kantar, "Do you know me?" Kantar replied, "No."
00:06:46Following Kantar's answer, Tunar
00:06:50responded by saying, "I am the person you said you handed the money to."
00:06:53verdi.
00:06:56Doğuş Group Chairman of the Board Hüsnü Akan was also among
00:07:00those who defended themselves. In the indictment, Akan
00:07:03is accused of giving a 500,000 TL market card
00:07:06to Boğaziçi İmardanager Elçin Karaoğlu.
00:07:08ediliyor.
00:07:10He asked a question.
00:07:42He said, "Continue," and spoke clearly. Another important issue that
00:07:46we are discussing in the political agenda is the issue of Öcalan's
00:07:49home, along with Devlet Bahçeli's statements. Regarding that issue,
00:07:53instead of talking about Öcalan getting a house,
00:07:56we would rather talk about Demirtaş getting his home.
00:08:00he said. Our fourth
00:08:03promise to our nation is a strong and secure Turkey.
00:08:07Instead of talking about some people getting a house, we would
00:08:11rather 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.
00:08:14We would rather talk about the release of our friends who have been unjustly detained
00:08:18in difficult conditions in high-security prisons for 18 months, because
00:08:21the democratization of a country depends on these things, and
00:08:24what will provide social contribution to the process
00:08:28is Demirtaş getting his home rather than Öcalan getting
00:08:31his new residence. In other words, in these discussions, we are concerned
00:08:35with Demirtaş getting his home, his wife, his family.
00:08:38The issue is not whether Öcalan was given a house on the island,
00:08:42whether he will go home. These are our concerns."
00:08:52There was also the withdrawal of the CHP's appeal. Özel stated
00:08:56that the withdrawn application was not by the CHP, but by Özel and
00:09:00his team. Özgür Özel, speaking to Murat Aksoy from Yeni Arayış,
00:09:03said that with this move, they are trying to swindle justice
00:09:07and snatch something in the judiciary. "We appealed to the Court of Cassation
00:09:10for the appeal decisions to be annulled because they are wrong.
00:09:14But they are withdrawing our application so that this decision is not discussed
00:09:17in the Court of Cassation. They are not withdrawing their own petitions.
00:09:21There is snatching here, there is abuse of rights,
00:09:24or rather, exploitation, swindling of the judiciary,
00:09:27and snatching from a judicial decision. What is intended with this move
00:09:31is to try to close the path to the Court of Cassation. Withdrawal
00:09:35does not dismiss that court, it cannot dismiss it. The path to seeking
00:09:38justice cannot be closed. They know that if the Court of Cassation discusses
00:09:42this, it will annul it. Because they know that this decision will be overturned,
00:09:45they are trying to withdraw the case from the Court of Cassation. They want
00:09:48the case to be finalized without the Court of Cassation looking at it.
00:09:52But the wrong that was done there needs to be corrected by legal
00:09:56means. So, if the Court of Cassation annuls the appeal decision,
00:09:59will it return to the CHP, or is the matter closed? Özel
00:10:03underlined that they will continue their path with the new party.
00:10:07We will continue our path as a new party, but the Republican People's
00:10:10Party also needs to be rescued from occupation and plunder.
00:10:14The annulment management is currently plundering the party materially
00:10:17and morally. They are plundering the political heritage we have
00:10:21accumulated together since Atatürk. Therefore, it needs to be rescued
00:10:24from occupation and plunder. The Republican People's Party
00:10:28needs to be rescued from this annulment mentality. We have established
00:10:31the new party, no matter what the decision is, we continue
00:10:33our march with the new party. The New Party received a notification
00:10:37from the Chief Public Prosecutor's Office of the Court of Cassation
00:10:40for a name change, upon the objection of the New Party of Innovation.
00:10:43The New Party leader emphasized that the Constitutional Court
00:10:46will make the decision. He said, "Even if it is ruled that there is confusion,
00:10:50we 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."
00:10:57I have no intention of going back there. We will continue
00:11:01on our new path. They are at the end of the road, we are at the beginning.
00:11:05Kozinoğlu, a former MIT member, even considered MIT's
00:11:08black box, his death and the re-launched
00:11:12investigation continue to reverberate. We started the day with
00:11:15a new operation related to this issue.
00:11:19Arrest warrants were issued for four people. The then
00:11:22Silivri Chief Public Prosecutor and the prison prosecutor,
00:11:26these are the first two, sir. The other two
00:11:29are names dismissed from their profession
00:11:32within the scope of FETO investigations. We drew attention to the other
00:11:35names in our broadcast with Halktebe.com writer Dinçer Gökçe
00:11:39in recent days, their cellmates. One is
00:11:42retired soldier Hasan Atilla Uğur, the other is Hasan Ataman
00:11:46Yıldırım. Arrest warrants were also issued
00:11:48for them.
00:12:55He had served in the investigation. He was the person
00:12:58who issued a decision of non-prosecution for the file in 2012. İşgören
00:13:02was later tried within the scope of FETO investigations
00:13:05and dismissed from his profession.
00:13:08Kahramanoğlu,
00:13:12within the scope of the investigation, the then prison prosecutor
00:13:16Necip Doğan was also arrested. Doğan was among
00:13:19the names who participated in the crime scene investigation
00:13:22conducted after Kozinoğlu's death. He was also later
00:13:25dismissed from his profession
00:13:27within the scope of the FETO investigation.
00:13:30Hasan Atilla Uğur, for whom an arrest warrant was issued,
00:13:34was in the Turkish Republic of Northern Cyprus on the morning
00:13:37of the operation. Uğur made his first
00:13:39statement to Not 1 after the arrest warrant.
00:13:43Uğur said that the information pollution regarding Kaşif Kozinoğlu's
00:13:47death had increased, and therefore, it was normal for him to be called
00:13:50to testify. He said,
00:13:51"We will tell what we know."
00:13:55He is also known for being the military official who interrogated
00:13:58him. Kozinoğlu's other cellmate, retired Navy Captain
00:14:01Hasan Ataman Yıldırım, was also arrested in Istanbul.
00:14:05Yıldırım was also one of those arrested in the Ergenekon
00:14:09conspiracy cases. During his detention, he shared
00:14:12the same cell with Kaşif Kozinoğlu and Hasanatilla
00:14:15Uğur in Silivri Prison. He was released
00:14:18after it was revealed that the cases were a conspiracy.
00:14:22He wrote about his experiences in a book titled "The Tip of the Iceberg
00:14:25America." In the book, he included very critical allegations
00:14:29about Kozinoğlu's last days in prison and what he
00:14:32said. Yıldırım argued in his book
00:14:35that the Ergenekon and Balyoz conspiracy cases
00:14:39conducted in Turkey were entirely planned
00:14:41by the USA.
00:14:45Now, as we briefly mentioned at the beginning, the earthquake
00:14:48in the fund market, the upside-down markets, anxious
00:14:51investors, and the measures announced one after another today.
00:14:55"The CMB announced, the Central Bank announced,
00:14:59Treasury and Finance Minister Mehmet Şimşek, they
00:15:02also convened the Financial Stability Committee.
00:15:05We will talk about what all this means, but we will also talk about
00:15:08the political dimension of the issue, so to speak. Tera,
00:15:12Pusula, Hedef, Atlas, we are talking about a total of
00:15:157 companies. 130 funds will be liquidated
00:15:19by the CMB. Who will we talk about these with?
00:15:23Journalist Bahadır Özgür is with us. Welcome."
00:15:26Welcome, dear Özgür. In fact,
00:15:29many esteemed economists had been talking about the bubble
00:15:33created by ponzi schemes in the markets for a long
00:15:36time. They were making warnings.
00:15:40But after the bubble burst with Pusula, today
00:15:43we started talking about audits, regulations,
00:15:47these things. Now, when this is the case, everyone has
00:15:50a question in mind. At first, this question comes: wasn't
00:15:53this known? If it was known, why weren't measures taken
00:15:57before? And is the problem actually only a bad
00:16:01financial management
00:16:02here?
00:16:05"Let me start with your last question. No, this is not a matter of bad financial
00:16:08management. It cannot be explained that way
00:16:11because what happened, this fund wreck,
00:16:14was coming clearly in sight. Let me remind the viewers
00:16:18of this right away. Remember, there was talk about a Selecil
00:16:22Erzan fund. At that time, many journalists and experts
00:16:25said, 'Okay, there's such a fraud here, but there's
00:16:29much more of it in the stock market.' They said, 'There are some
00:16:32hedge funds here. Look, they offer
00:16:35such returns.' We said, 'This is impossible.'
00:16:38At that time, of course, something like this happened:
00:16:42'news and comments that disrupt the market.' For example,
00:16:45I also have lawsuits, and my news was even banned.
00:16:49After that, actually, experts said this.
00:16:52Then, on November 4, 2025, the Minister of Treasury and Finance,
00:16:56Mehmet Şimşek, came out and said
00:16:59that there were manipulations in the stock market funds,
00:17:03and they would not turn a blind eye to them. So, a minister
00:17:06openly said, exactly 10 months, 11 months ago, that there was
00:17:10a setup here, a manipulation, that it was not natural.
00:17:14So, what was done? Nothing was done for 10 months.
00:17:17Nothing was done. It came, it came,
00:17:20it came. Finally, MSCI,
00:17:23Morgan Stanley Capital International, is an institution
00:17:27in America. Foreigners refer to it when investing in
00:17:31emerging markets because this index covers
00:17:34your large and mid-cap companies.
00:17:37That institution warned Turkey, saying, 'You are not transparent.
00:17:41There are strange movements in some of your stocks.
00:17:45These funds are not healthy. We don't see transparency
00:17:48when we look. Fix this, otherwise we will remove you.'
00:17:52Whatever happened, happened after that. This warning was made in June.
00:17:56In August, the CMB published a new
00:17:59regulation. This regulation actually contained technical
00:18:03things like taking these funds we mentioned under control,
00:18:06making them transparent, and setting some limits.
00:18:10After that regulation was published,
00:18:13large outflows started from Pusula, which pulled
00:18:16the pin today, detonating this bomb. Why?
00:18:20Because here, you have inflated stocks. The real
00:18:23returns of these funds are not this much. I will elaborate
00:18:26on that a bit later. That is, there is an unrealistic,
00:18:30illogical inflation,
00:18:33a bubble there. Since this was noticed,
00:18:37if they complied with this regulation, the truth would come out
00:18:41and a bigger wreck would emerge. Outflows started from Pusula.
00:18:44When I say outflows, we are talking about billions
00:18:47of liras. Look, between August 28 and September 15,
00:18:51only from Pusula funds,
00:18:54132 billion liras flowed out. What does this mean?
00:18:58There were outflows. Of course, many small investors are among
00:19:01them, meaning they are scared, they panic, they are suspicious,
00:19:04they redeem their fund to get their money.
00:19:07But there are also very big money owners. We don't
00:19:11know these. That is, where did this money go? Where did
00:19:15this money come from? So this happened in Pusula. Then
00:19:18it 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,
00:19:24for the viewer to understand simply, let me not explain
00:19:27technically. The real value of the stocks within the fund
00:19:30you invested in is not what we showed. Those
00:19:34are inflated prices. If we sold them today, no one would
00:19:37buy them at a garbage level. Therefore, I will sell this
00:19:41and pay you your money. This is not possible.' He said, 'I defaulted.'
00:19:45The incident broke out yesterday. Later, it turned out that not only
00:19:48Pusula but also other similar funds were like this.
00:19:52They defaulted, and finally, at 8 this morning,
00:19:56the long and short of it is, the state intervened
00:19:59and said, 'I will clear this mess.' That is, with public
00:20:02resources and power, this mess will be cleared.
00:20:05How will it be cleared? These 130 funds, similar
00:20:09to this, passed to the state. They will be liquidated.
00:20:12Apart from this, to prevent companies like Katılım
00:20:15Evi and Bir Evim, which tens of thousands of people
00:20:19joined with the dream of a house and a car and signed contracts,
00:20:22from being at risk, the state took them and gave
00:20:26them to Emlak Bank. What else did it do? It saw that the stock
00:20:30market crashed yesterday, didn't it? Look how many shares these
00:20:34funds held in their hands, they crashed the entire stock market. The Wealth
00:20:38Fund intervened through Ziraat Portföy. That is, with state
00:20:41resources, shares started to be collected so that shares would not fall too much.
00:20:45This is what they call a measure, Gizem. Yes, so the bubble that
00:20:49was clearly coming burst. Now this wreckage
00:20:52is being cleared with the state's resources. This is the answer
00:20:56to your first question. Now, when we ask why it wasn't prevented,
00:20:59considering Mehmet Şimşek's open statement last November,
00:21:03people inevitably start talking about the
00:21:067 companies being discussed right now,
00:21:10their owners, their managers.
00:21:14They start drawing attention to those people, because
00:21:17it was something that was clearly coming.
00:21:21The country's Treasury and Finance Minister had acknowledged
00:21:25the situation, but no steps were taken. In fact,
00:21:28we should thank Morgan Stanley, as you mentioned earlier,
00:21:32perhaps they prevented it from growing even bigger.
00:21:36Again, it's not us. Now, when we look, Muhammet Yarıs
00:21:39was arrested. Yesterday evening, Hedef Holding Chairman Namık
00:21:43Kemal Gökalp was detained. A travel ban was imposed
00:21:46on Tera Board Chairman Emre Ezmen."
00:21:49"So, for example, here, since we have been talking about
00:21:52Pusula mostly from the beginning, and since the incident broke
00:21:56out from there, how does a 28-year-old
00:21:59who has been penalized by the CMB many times
00:22:03become the manager of billions of liras worth of funds?
00:22:07I think we need to ask this question. This question
00:22:10is important. Now, if you and I get together
00:22:13and decide to establish a fund, an investment company,
00:22:17and have a factoring company and offer it to the public, it wouldn't work.
00:22:21We 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,
00:22:27how did you achieve 5000% returns with 3 shares?
00:22:31We would be immediately penalized. In fact, we wouldn't even
00:22:34get permission. The manager of Pusula you mentioned,
00:22:38the 28-year-old, was a member of the AKP youth branch who made
00:22:42a rabia 6 years ago. Only 6 years ago.
00:22:45His father is also a name who has been penalized for trading
00:22:48in the stock market and is close to the AKP." He has photos with ministers.
00:22:51This participation house was established, and ministers visited it.
00:22:55So we understand that there is a political
00:22:58leg here, and a bureaucratic leg. Because, look, it's
00:23:02very simple. Anyone with even a little financial literacy
00:23:05can enter the system where these funds are traded,
00:23:09and this system is open to everyone. If they wonder what's inside
00:23:12this fund, for example, do you know what they see?
00:23:16A company that has only made 3.5 million liras in profit
00:23:20in real life, the shares of this company
00:23:23have been inflated by these funds buying and selling
00:23:26them among themselves, and we see that this company,
00:23:30which made 3.5 million liras in profit, has reached
00:23:33a paper value of 25 billion dollars today. What does
00:23:3625 billion dollars mean? Even if you add up Koç,
00:23:40Sabancı, Akbank, Yapı Kredi, Coca-Cola, Ford, Türk Telekom,
00:23:43Telsim, Turkcell, the big companies of Turkey, they don't
00:23:46reach this. There is reason, there is logic.
00:23:50You don't need to know mathematics for this. Such a thing
00:23:53is impossible. It is an impossible thing.
00:23:56No one turns around and says these publicly
00:23:59traded shares are being bought and sold among themselves in an agreed-upon
00:24:03manner. Meanwhile, the citizens say, 'Oh, there's a big profit here.'
00:24:07And you know, on social media, YouTube,
00:24:10different platforms, Telegrams, these shares are being
00:24:13propagandized. So people are being drawn into a trap.
00:24:16Hundreds of thousands of small investors go and buy these
00:24:20shares hoping they will rise. After that, these big
00:24:23funds start selling these shares. Look, a share that
00:24:27rose by 4000% in a year, a share that rose by 4000%
00:24:31in 170 days, drops by 1900%
00:24:34in 40 days. So the small investor suffers.
00:24:37So those shares get inflated, what do they do? They buy them
00:24:41and put them into the fund. I'm explaining in an understandable
00:24:44way. When we say investment fund, it mostly contains
00:24:4880-90% shares. Most of these consist of these shares.
00:24:52You look on paper and say, 'What a profitable business! Look,
00:24:56this fund has shares of a company worth 25 billion dollars.' However,
00:25:00in real life, there is no such thing. When you try to sell it today,
00:25:03it doesn't work. This wasn't enough.
00:25:06They attracted people to these funds.
00:25:09This wasn't enough. Now, viewers will hear a lot about money
00:25:13market funds. This fund is a risk-free fund.
00:25:17That is, you have money, you go to the bank, you deposit
00:25:20it, right? It's government-guaranteed deposit. If the bank goes bankrupt,
00:25:24it says that. That is, you say you will earn a little more
00:25:27than inflation. Some citizens, many people, said, 'I don't
00:25:31want to take risks. I will invest in these money
00:25:34market funds, which are risk-free funds.' However,
00:25:38they were also deceived there because the risk-free
00:25:42fund was full of rotten goods. How did this happen?
00:25:45These two funds were their own. Because risky,
00:25:48the rotten goods, the defective goods, in the risky
00:25:51fund, they used them as collateral for the money
00:25:54market, that is, the fund that should be risk-free,
00:25:57and took money from there. This is the issue today.
00:26:01That is, there is deception here. There is a trap.
00:26:05He should have seen it, he could have seen what we saw very easily, their opportunities are
00:26:09greater and there was no intervention. The reason for not intervening, look,
00:26:12you said it a little while ago, it's not just for the compass, we're looking at Tera,
00:26:16we're looking at others. Actually, Bahadır Özgür, here
00:26:20let me start with this question,
00:26:22now, um, SPK announced a list of measures,
00:26:26went for a new regulation, or rather, the compass
00:26:29was sold to Tera hastily.
00:27:03In line with our national vision, not only in the financial field,
00:27:06but in every platform our country needs and at every level of responsibility,
00:27:10we will resolutely continue our domestic and national stance.
00:27:13he said. Now, what does this statement have to do with the issue?
00:27:17It says "evil forces", what are those evil forces? Where does the issue of domestic and national
00:27:20come from? It's starting to become quite interesting.
00:27:23When you read
00:27:27the whole statement, it's like the National Security Council
00:27:31communiques of an era. Or you say, did the Chief of General Staff
00:27:35make a statement, because it talks about homeland defense and national defense. You might
00:27:39think, did the army make a statement? In the end, a fund makes a statement
00:27:42and it's full of rhetoric, like we've seen in many
00:27:46areas, about homeland, flag, nation, that the flag will not fall,
00:27:49the call to prayer will not stop. This is such a statement.
00:27:52So you suspect, you say, why are you giving a political
00:27:56message? Because you have political relations. Look what happened last week,
00:27:59before this broke out, let me tell you the rumor, it was confirmed today.
00:28:03When it was understood that Pusula would go bankrupt, they rushed to Ankara
00:28:07and wanted to meet a minister. They told the minister
00:28:11that this was a participation housing project and that if the public
00:28:14acquired these funds, meaning a participation housing project
00:28:17like Emlak Katılım Bankası, they would give the other funds
00:28:21to Ziraat Portfolio, etc., because this would explode,
00:28:25but it was too late because it turned out that an investigation had been launched.
00:28:29It turned out that the prosecutor's office had warned Mehmet Şimşek about this
00:28:33and that he had never given permission. Suddenly, in the afternoon, Tera
00:28:36announced that it would take this on. Now, people said, okay,
00:28:39then Tera is a safe, big fund, so my money is safe. But what
00:28:43happened? Because it was safe, people didn't withdraw their money.
00:28:47They did this to prevent the sale. Then it turned out,
00:28:50two days later, that he said he wouldn't take it. There was no
00:28:54permission for such a thing.
00:28:57Moreover, he said he wouldn't take this risk either. So even what was done
00:29:00in those two days is a crime. "You go out and make an announcement that you will buy it,
00:29:04people trust you, and two days later you come out and say, no, I won't
00:29:08buy this. The board of directors changed two days ago, and two days later
00:29:11the board of directors changes again. So there are scandals from start to finish,
00:29:15they can't get out of this. I'm making a comment here: look, this means
00:29:19deceiving small investors. While people could have saved their money,
00:29:22maybe you delayed it for two or three more days
00:29:26and prevented them from withdrawing their money. Finally,
00:29:29the rumor that was circulating in financial circles
00:29:33turned out to be true. It turns out that Emlak Katılım Bankası
00:29:36acquired the participation house, at least.
00:29:39Now, there's this aspect to it: there are more than 100,000 people there,
00:29:43there's 151 billion in bonds, there's debt,
00:29:46at least those people, you know, were prevented from being victimized,
00:29:50but this was prevented with our money, um, with public
00:29:53money. That's the critical point there. Now, this morning, the financial
00:29:57stability committee, SPK, the central bank, announced decisions.
00:30:00They implied that we will somehow handle this
00:30:04with state intervention. From the investor's perspective, they said
00:30:07you will get your money back, but how much they will get is already
00:30:10unknown. But when you look at it, when you say
00:30:14you will fix this with state intervention or with public funds,
00:30:18then what is the fault or sin
00:30:21of people who have never been involved in these matters, who have never,
00:30:25I don't know, invested, earned, or lost money?
00:30:28eee suçu günahı ne
00:30:32The state should have actually done its job
00:30:35for the past 10 months, even a year and a half. It was very simple.
00:30:38It has the authority, it has the data. It knows who these
00:30:42people are, what they are, what's going on. If it had intervened,
00:30:46things wouldn't have come to this. But it seems that there was a blind eye
00:30:49turned to this situation. That's our whole problem. So, why do you think a blind eye was turned?
00:30:53Let me add this: for example, in every investigation,
00:30:56the first thing we talk about is taking measures on assets,
00:31:00MASAK seizing them, right? "For example, I haven't seen anything like that for these names.
00:31:04No, not at the moment.
00:31:07Uh, we've known about the political connections of a large
00:31:10number of these fund managers for years.
00:31:14There are people who have served and are serving as presidential
00:31:17advisors. Among some of them, there are AKP
00:31:20members. There are children of AKP
00:31:23families. Uh, one of Tera's managers
00:31:27visits the AKP Sultanbeyli district organization.
00:31:30Photos can be published with such ceremonies. So these funds appear to be very intertwined
00:31:34with the political power. This was a fund that presented
00:31:37such a picture. Firstly, this. Secondly, look,
00:31:41we're talking about very large amounts of money, Gizev Hanım, this is not
00:31:45like a simple snatch-and-grab issue.
00:31:48Yesterday, the money withdrawn from the funds was calculated to be 1 trillion,
00:31:521 billion dollars. Consider this since August.
00:31:56Whose money was this? Who got
00:31:59out of this business earlier, took their money and left?
00:32:02Was this money taken abroad? Did MASAK, for example,
00:32:06investigate this money? Were bank accounts investigated?
00:32:09So, who are the ones who put large
00:32:13amounts of money into these funds and got out early,
00:32:16who made huge profits? We don't know who these names are. This is the main point that needs to be questioned.
00:32:20Secondly, SPK and similar
00:32:23institutions should question their managers.
00:32:26Look, SPK managers, even after Mehmet Şimşek,
00:32:29in November, said this: we more or less know what these funds
00:32:33are doing, we are warning them now, we don't want to fine them,
00:32:36we don't want to harm the fund, but listen to our warning.
00:32:40Are you warning children
00:32:43in the neighborhood? You know, you might shake your finger
00:32:46and say, don't do this again. Are funds talking about billions of liras
00:32:50warned like this, fined like this,
00:32:53inspected like this? Therefore,
00:32:56the issue has two aspects. One is that there is a terrible
00:33:00wreckage, and today the state removed this wreckage with its power.
00:33:04People shouldn't think that by looking at the stock market,
00:33:07yes, the stock market is rising, how nice. Billions of liras
00:33:11have already been recorded as public loss, in my opinion, because you're saving it with state power.
00:33:15Secondly, and more importantly, in my opinion,
00:33:18who are the people who have amassed wealth upon wealth
00:33:21from here for months, who have acquired new wealth?
00:33:24Where did this money go? Is this money in Turkey?
00:33:27Did the cash from these funds go abroad?
00:33:31Will this be investigated? Will this be pursued?
00:33:34As you said, in the IBB case, MASAK,
00:33:37which accounted for 50 liras, that was one of the reasons
00:33:41for Mahir Polat's prosecution. It was a 50 lira
00:33:45transfer. Will MASAK, which pursued even 50 liras,
00:33:48pursue billions of liras? In my opinion,
00:33:51what will truly ease the public's conscience,
00:33:54rahatlatacak,
00:33:56what will truly make people say "yes, the state has really intervened"
00:34:00is this. Otherwise, saving a bankrupt company
00:34:03is not being a state, meaning the state is not doing its job.
00:34:07All they did was take a measure with state power
00:34:10so that this issue doesn't spread like a virus throughout the stock market,
00:34:14so that it doesn't affect the banking system and the system doesn't collapse.
00:34:17It's very easy, you can do it, the state is strong anyway,
00:34:21it has unlimited resources, unlimited funds, a wealth fund.
00:34:24It has put the wealth fund into action, but the main issue is this:
00:34:28remember, look, 3-4 years ago, we discussed
00:34:31IPOs in the same way. We said, you know,
00:34:34everyone, from peanut sellers to lokum sellers, is going public.
00:34:38How do you allow this? Then it turned out, you know,
00:34:41that official escaped, that SPK official went abroad, Ünsalban
00:34:45is a fugitive. It turned out that the person who signed these received bribes,
00:34:49he was being prosecuted and he fled. The same thing, the event was smaller
00:34:52back then. You didn't take precautions then. The same thing happened again
00:34:56with the funds. So nothing has changed. We are not
00:34:59discussing this for the first time. There has always been manipulation
00:35:03and speculation in the stock market, but these didn't affect
00:35:07everyone before. Look, these funds, these 7 funds,
00:35:11with the shares they hold, can raise and lower
00:35:13the entire stock market index. They have reached this power.
00:35:17This is a terrifying power, meaning
00:35:21it shouldn't be this unsupervised. Therefore,
00:35:24when we look at it, what we, as journalists, need to question
00:35:27is that this issue needs to go to court,
00:35:31it absolutely needs to go to court. And these SPK
00:35:34penalties, look, SPK penalties are a joke. You have
00:35:37imposed a trading ban on someone you arrested, you've already arrested them.
00:35:41Today, a trading ban is announced. Is there organized crime
00:35:45here? Were small investors systematically defrauded?
00:35:48Was the public systematically harmed by stock manipulation?
00:35:52Secondly, was the wealth, the acquired wealth, taken
00:35:55abroad? I think there needs to be an investigation
00:35:59that will seek answers to these questions. Absolutely, let us ask from here too.
00:36:03Thank you very much, Bahadır Özgün, for participating and for the information you shared.
00:36:06Thank you.
00:36:08teşek.
00:36:10Dear viewers, now let's continue with another important topic.
00:36:14For a few days, we've been talking about operations,
00:36:17detentions, and arrests targeting LGBTQI+ individuals under the name "My Family is Safe".
00:36:20The number of arrests has increased; 20 in Istanbul and two more
00:36:24in Çanakkale have been arrested. The total number of arrests
00:36:27has reached 82. New Party leader Özgür
00:36:31Özel reacted to the operation. He said that a careless investigation
00:36:35was being carried out.
00:36:35söyledi.
00:36:40Arrests targeting LGBTI+ individuals continue.
00:36:4320 people in Istanbul and 2 people in Çanakkale were arrested.
00:36:47The number of arrested people in the operation named "My Family is Safe" became 82.
00:36:51oldu.
00:36:54On September 12, an operation was carried out
00:36:57against LGBTI+ individuals. Dozens of people were detained
00:37:00in 15 provinces, and judicial proceedings were initiated
00:37:04against 9 associations and 13 businesses. They were accused of obscenity,
00:37:07opposition to the Associations Law, and facilitating prostitution.
00:37:10yöneltildi.
00:37:13The police procedures of 33 people detained in Istanbul
00:37:16have been completed. After the prosecutor's interrogation,
00:37:2020 of the 33 people were referred to court with a request for arrest,
00:37:23and 13 people with a request for judicial control. Arrest was requested.
00:37:29At the same time, two more people were arrested in Çanakkale.
00:37:32In Ankara, 13 out of 21 people
00:37:35were arrested, including journalist Tuğba Tekerek.
00:37:39It was claimed that Tekerek managed the social media account of Kaos GL, one of the associations
00:37:43targeted by the operation.
00:37:47Tekerek stated in the message she sent that she was following
00:37:50the 2023 Georgian elections and had done copyrighted news.
00:37:53söyledi.
00:37:56With the arrests in Istanbul, the number of people arrested
00:37:59in the operation targeting LGBTI+ individuals
00:38:02reached 82. In Izmir, 16,
00:38:06in Mersin, 27, and in Aydın, 5 people had been arrested
00:38:09within the scope of the same operation.
00:38:14On September 15, people wanted to protest the operation
00:38:17in front of Çağlayan Courthouse in Istanbul, and 106 people were detained.
00:38:20While their referral to the courthouse was awaited, their detention
00:38:24period was extended by 24 hours.
00:38:27At that time, 106 people, including journalists
00:38:31and lawyers, who were held at three different locations, were released without being referred
00:38:35to the courthouse. One of the detainees was Sarya Toprak, a reporter
00:38:38for BirGün newspaper. Toprak was first taken to Vatan
00:38:42police station and then to Gayrettepe. Toprak was
00:38:46transferred from the European side to Anatolia
00:38:49during the night hours.
00:38:51She was released in Çekmeköy.
00:38:56Özel reacted to the operation.
00:38:59He said, "We are facing a situation where everyone is being put in the same bag
00:39:03and criminalized." For example, operations
00:39:07are being carried out against associations related to sexual health, to which only doctors
00:39:11can be members, against associations that operate on sexual orientation,
00:39:14to which only specialist doctors can be members, and against the association fighting
00:39:18against HIV, meaning AIDS. Moreover, among those
00:39:21targeted by the operations are even family solidarity associations.
00:39:24Furthermore, all of them are called immoral.
00:39:28These operations may want to ignore a truth,
00:39:31but this will not eliminate that truth,
00:39:35it will only disappear from sight, and where it disappears from sight,
00:39:39all kinds of injustices,
00:39:41illegalities, and unhealthy situations will emerge.
00:39:43Özel, speaking to Murat Aksoy
00:39:47from Yeni Arayış, criticized Justice Minister Akın Gürlek
00:39:50for conducting this investigation. He said, "The prosecutor's office
00:39:53has suspicions that a crime has been committed, but the Ministry of Justice
00:39:56cannot decide to conduct this operation. If this happens,
00:40:00the executive Justice Minister would have used the independent
00:40:04judicial authority."
00:40:05dedi.
00:40:10A ceremony was held in Aydın Didim due to the start of the new academic
00:40:14year, but the Mayor's reaction at that ceremony
00:40:18made quite an impression. Didim Mayor Hatice
00:40:21Gençay, whose name was read after the District National Education Director,
00:40:25turned her back on the protocol.
00:40:33The new academic year in Didim started with a protocol crisis.
00:40:37The name of the New Party Mayor was read after the District National Education
00:40:40Director. The Mayor turned her back
00:40:44on the protocol during the wreath-laying ceremony. She said that she
00:40:47had encountered a similar situation before and that she clearly expressed
00:40:51her reaction out of responsibility to the office she holds
00:40:54representing the will of the people.
00:40:57In 2026-2027, a ceremony was held to mark
00:41:01the start of the academic year. A protocol crisis occurred
00:41:04during the ceremony. The name of Didim Mayor Hatice Gençay
00:41:08was read after District National Education Director Mustafa Çalışkan,
00:41:11although it should have been read before him in the protocol
00:41:14order. Gençay reacted to the situation by turning
00:41:18her back to the protocol. That moment was captured by cameras.
00:41:22Following the events, Mayor Gençay issued a statement.
00:41:25She stated that a similar situation had occurred before
00:41:28and that, therefore, the issue could not be considered an isolated
00:41:31protocol error. She emphasized that she represents
00:41:34the will of the people of Didim. The fact that similar situations
00:41:38have been encountered before, and that the same approach has emerged
00:41:41once again today, makes it difficult to evaluate the issue as merely
00:41:45an isolated protocol error. Therefore, out of responsibility
00:41:49to the will of the people of Didim and the dignity of the office
00:41:52I represent, I openly expressed my reaction
00:41:55to the said attitude during the ceremony.
00:41:58Didim Mayor Hatice Gençay had announced at the end of July
00:42:02had resigned from CHP
00:42:06and joined the new party.
00:42:12In schools, especially for the past two years, we have been discussing
00:42:15two important problems, two issues: one is hygiene, cleanliness, and the other
00:42:19is security. For example, the issue of hygiene and cleanliness sometimes even determined
00:42:23the political agenda. As for security,
00:42:26it cost us 11 lives, let's remember that.
00:42:30Now, Minister Yusuf Tekin always said there were no problems,
00:42:33no issues, but I guess he finally
00:42:37realized there was a problem, because right now...
00:42:46Cleaning in schools is provided by permanent caretakers, and there used to be no problem.
00:42:50The Ministry of National Education changed the methods of employing cleaning and security
00:42:53personnel. For two years, the cleaning and security issue reached its peak.
00:42:57Complaints poured in every day from classrooms, floors,
00:43:00toilets, and gardens. There were students who held their urine
00:43:04for 5-6 hours. School massacres
00:43:06occurred.
00:43:11Numerous cleaning and security protests were held in front of the Ministry of National Education,
00:43:14the opposition called for an investigation, AKP and MHP rejected it.
00:43:17Opposition municipalities wanted to clean schools, the issue caused a political debate.
00:43:20The Minister of National Education said on October 8, 2025,
00:43:24that there were no problems anymore. There are no problems
00:43:27with cleaning staff in our schools.
00:43:30Minister Tekin, who said a year ago that there were no problems,
00:43:34is now looking for solutions. The formulas are before President Erdoğan,
00:43:38and the budget is being calculated. In terms of
00:43:41this, we will talk to the relevant authorities and bring this
00:43:44problem to a more fundamental
00:43:48solution in the budget law. We have presented
00:43:51a few formulas to our President.
00:43:55These formulas are: cleaning services to be procured
00:43:58from professional companies through tenders conducted
00:44:02by 81 provincial governorships, personnel to be employed according
00:44:05to the needs of the provinces through a company to be established
00:44:08within the ministry, and direct and continuous employment of personnel
00:44:11in permanent status with the necessary permits. The formulas are expected
00:44:15to take shape in the 2027 budget process. The government could not allocate
00:44:19a budget for one free meal, but if it allocates for cleaning
00:44:22and security and the President approves, Minister Tekin promised
00:44:25that permanent cleaning and security will be provided in schools
00:44:29starting from February. As of early February,
00:44:33we will have implemented
00:44:34our new formula.
00:44:41"Good news came from IBB for students. The first
00:44:45subscription to be uploaded in the new academic
00:44:48year will be only 1 lira for one time only.
00:44:51olacak.
00:44:54Istanbul Metropolitan Municipality provided a 1 lira subscription
00:44:58to students for one time only in the new academic year.
00:45:01The decision was accepted by the IBB assembly
00:45:05with the approval of all political parties.
00:45:07edildi.
00:45:09We are always ready to do our best
00:45:13for whatever needs to be done. The application will be valid
00:45:16for loadings made between September 21, 2026, and October
00:45:1917, 2026. It will only be done once
00:45:23and will not cover students over 29 years old.
00:45:27"Whichever day our student buys their subscription
00:45:31between September 21 and October 17,
00:45:34their one-month subscription from that date
00:45:38will be only 1 lira."
00:45:41The decision was accepted unanimously, but a debate erupted
00:45:45in the municipal council during the discussions.
00:45:48AKP members stated that the student subscription,
00:45:51which was 40 liras in 2019, had increased to 653 liras.
00:45:54Thereupon, CHP council member Melendiz Dalyan Izgi,
00:45:58who took the floor, reminded of inflation
00:46:01and the high cost of living. "So,
00:46:04how much was diesel in the same months of 2019?
00:46:08Diesel was around 6-7 Turkish Liras. So
00:46:11this increase is almost more than 10 times."
00:46:15On the other hand, IBB had announced that it would provide
00:46:18a one-time housing and deposit support of 12,500 liras to 20,000 student homes.
00:46:22We will provide a one-time
00:46:25support of 12,500 liras for accommodation
00:46:28and deposit to 20,000 student homes.
00:46:32We are implementing a new support of 250 million
00:46:35liras for our youth.
00:46:38It was also stated that in December,
00:46:42January, and February, up to 7,500 liras in bill support
00:46:46would be given to 20,000 student homes for three months.
00:46:49For this, we are allocating 150 million
00:46:53liras.
00:46:57The harvest season continues for Bodrum's famous green tangerine
00:47:01with geographical indication. Bodrum Municipality agricultural services
00:47:05teams regularly visit the gardens
00:47:07and provide technical support to producers. There are also
00:47:11some efforts being made for the sale and promotion of the product
00:47:15in the market.
00:47:18As shown, its color has also turned slightly
00:47:21yellow. There must be about 20 of them
00:47:24in one thing. It was brought to Bodrum about 80
00:47:28years ago, produced in Bodrum. It is the first product
00:47:31produced only in Bodrum in Turkey.
00:47:34The season has arrived, the branches are full of fruit.
00:47:37The green tangerine harvest continues in Bodrum.
00:47:41Technical support is also provided to producers in the gardens.
00:47:44We did all the pruning, maintenance, and pest control
00:47:47of our trees. The harvest season has come, and I hope it will be a good harvest season.
00:47:51The harvest of Bodrum's geographically indicated famous green tangerine
00:47:54continues. Bodrum Municipality also continues to support producers
00:47:58for the sustainability of production. These trees need pruning every year.
00:48:01The purpose of pruning is both to make it easier to harvest
00:48:05the product and to obtain better quality yield
00:48:08when it is thinned out. Bodrum Municipality Agricultural Services
00:48:12Directorate teams regularly visit the production
00:48:15areas. The development of the products is closely monitored. They use
00:48:19them in every way for cocktails, restaurants.
00:48:23In addition to production support, there is also support and research
00:48:26for its sale. Bodrum Municipality, in cooperation with Bodrum Belediye AŞ,
00:48:30brings the Green Bodrum tangerine together with consumers
00:48:33and sector representatives. Efforts continue to popularize
00:48:37the product in gastronomy, tourism, and beverage sectors.
00:48:39We are in the process of producing new products in the cold chain
00:48:42that our citizens can obtain for 12 months.
00:48:46Together with our tangerine producers
00:48:49in Bodrum, we will add a new value to Bodrum.
00:48:57Indeed, both its taste and smell are completely different. Those beautiful
00:49:01images came to your screens
00:49:24Turkey's energy storage.
00:49:27Orbus.
00:49:35Even if time passes, the value of gold always remains in Koçak.
00:49:39Because gold carries not only today, but also tomorrow.
00:49:43Koçak.
00:49:46Dad, give me that one-match please.
00:49:48ya.
00:49:50Welcome to the Daddy-Mati. "Your money
00:49:53is being prepared. Dad, what's with the ATM card?
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00:50:50I need to get the money for the coffee machine my wife really wants.
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00:53:13Turkish
00:53:20It's a pleasure to know that things will continue after
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00:53:27Almost every opportunity and
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00:56:05Poland's opponent in the round of 16.
00:57:25on Halk TV screens from where we left off in parentheses.
00:57:29In this section, we will actually talk about the measures
00:57:32announced by both the CMB, the FSC, and the Central Bank.
00:57:36We will discuss these. We will approach the issue
00:57:39from the perspective of the investor, but let's start with
00:57:42the main agenda of the citizens. Diesel has officially
00:57:45exceeded 100 liras,
00:57:49we are experiencing a first in the history of the Republic, and as they
00:57:52say, what has no explanation
00:57:55has humor, and our citizens are indeed very talented
00:57:59in humor. When they saw 100 liras on the
00:58:02signs, the shares of "This must be the century of Turkey"
00:58:05did not go unnoticed.
00:58:08This is the situation, on the other hand, the statements made by Treasury
00:58:11and Finance Minister Mehmet Şimşek regarding fuel prices
00:58:14both attracted attention and caused
00:58:17reactions. He said that we use cheaper fuel
00:58:21Başarır from the New Party
00:58:24başarırsa Avrupa'dan Belçika'yı seçti, oradaki
00:58:27the salaries and diesel
00:58:30Our purchasing power
00:58:34decreases every day, every day. It is being
00:58:37pulled down a bit. I don't know what to do.
00:58:41The pressure of the high cost of living
00:58:44felt even more with fuel
00:58:49When Treasury and Finance Minister Mehmet Şimşek took office,
00:58:52the price of 1 liter of diesel was 19.78
00:58:56kuruş. With the last increase, the price of 1 liter of diesel
00:59:00reached
00:59:00100 liras.
00:59:04Today, the tax amount within the price of diesel is
00:59:0819.12 kuruş. Since the beginning of the year,
00:59:11diesel has increased by 72.4%, and gasoline by
00:59:15%50,5 oranında.
00:59:20Treasury and Finance Minister Mehmet Şimşek made evaluations
00:59:23regarding the latest developments in the economy during a television
00:59:26program he attended. Şimşek compared
00:59:29the price of diesel in Turkey with many countries in Europe.
00:59:33Şimşek claimed that 1 liter of diesel in Europe
00:59:37Look, today,
00:59:40in many countries in Europe, the price of 1 liter of diesel
00:59:43in Turkish lira is not below 150 liras.
00:59:48Despite these recent excessive increases,
00:59:51it is around 100 liras
00:59:54to Minister Şimşek's
00:59:58Group Deputy Chairman Ali Mahir
01:00:01purchasing power in Turkey and
01:00:05Minister of Finance, your statement and your duty,
01:00:08your responsibility is not this. Diesel
01:00:12is not below 150
01:00:15in Belgium, how much diesel
01:00:17can a minimum wage earner
01:00:20buy? 935 liters, Mr. Minister.
01:00:24In Turkey, 340
01:00:28the same comparison for retirees. A retiree
01:00:31in Belgium can buy 772
01:00:34monthly salary. In my country, it's 242
01:00:38for taxes to be lowered
01:00:42against the increase in fuel
01:00:45who imposed the tax. You are the one who imposed the SCT.
01:00:48If there is a war, an extraordinary period, reduce
01:00:52the tax. Şimşek, on the other hand,
01:00:54from fuel were foregone. We
01:00:58really gave up tax.
01:01:00Diesel has
01:01:06exceeded 100 liras and seems to continue to rise.
01:01:09The statements of the Minister of Treasury and Finance
01:01:12leave us, the listeners and viewers, speechless.
01:01:15So what do citizens say about this
01:01:19situation? Let's hear what they
01:01:21have to say.
01:01:24Prices are like a car in neutral,
01:01:27accelerating on their own.
01:01:30Wages are like a car with the handbrake on. This is our situation.
01:01:33That's why
01:01:37we will either burn
01:01:39the clutch or get out of the car and run. I don't know.
01:01:43We are progressing badly. May God help us.
01:01:46In cold weather, I used to turn the key
01:01:49to warm up the car, but not anymore. As soon as I start
01:01:53They don't hesitate to bleed the people dry.
01:01:56Honestly, we are no longer surprised because it's on
01:02:00autopilot. If it drops 3 liras, it increases
01:02:04it will reach 150
01:02:08this will affect everything we do.
01:02:11Our kitchen, our pockets. Of course,
01:02:15fixed income earners like us face
01:02:18Of course, in addition to this, transporters, bus
01:02:22companies, all of them will suffer from this, of course.
01:02:25Our debts are virtual, our incomes
01:02:29is virtual. Now,
01:02:32we have lost the reality of what is right, what is wrong, what
01:02:35is too much, what is too little, that is. You will buy
01:02:39a tank of gasoline in Turkey
01:02:40and walk around with a bag.
01:02:44As the gentleman said last, "We have lost what is right, what is real,
01:02:48what is virtual." Undoubtedly, this situation
01:02:51is currently mostly about the fund market, the bursting of the bubble there, and
01:02:55the sentences we can construct through what happened.
01:02:58Sir, what happened? The market is experiencing a Ponzi crisis,
01:03:01it was already happening, even perhaps it was a delayed situation
01:03:05that finally came to light. After everything happened,
01:03:09finally both the CMB, the Financial Stability Committee, and the Central
01:03:13Bank intervened. 7 companies, 130 funds
01:03:16were liquidated. Some measures and precautions were taken, and
01:03:20there are steps that the state will take to clean up the mess
01:03:23in the process that follows. Now let's watch a news report,
01:03:27we will discuss it. Some investment companies,
01:03:33including Tera and Pusula Portföy, defaulted. That is,
01:03:36they could not make the payment they were supposed to make to
01:03:40investors on time. This situation affects hundreds
01:03:42of thousands of citizens, and the size of the funds reaches
01:03:46billions of liras. An overseas travel ban was issued
01:03:49against Emre Tezmen, the chairman of the board of directors of Tera Yatırım Holding.
01:03:53Tezmen stated that they were subjected to a speculative
01:03:56attack by short sellers. Investors panicked.
01:04:00sold shares, Borsa Istanbul circuit breaker on Wednesday, in
01:04:03other words, transactions were
01:04:06The Financial Stability Committee met urgently.
01:04:10A statement came from the committee chaired by Treasury and Finance Minister
01:04:14Mehmet Şimşek. It was stated that the problem was temporary
01:04:17and manageable. It was emphasized that there was no systemic risk
01:04:21that all necessary
01:04:24açıklandı.
01:04:26The Capital Markets Board also liquidated 130 funds of
01:04:307 companies. Funds were closed to buying and selling transactions.
01:04:34It decided to impose a one-year trading ban on some fund
01:04:38managers. It decided to relax the minimum equity ratio
01:04:41in leveraged transactions from 35% to 20%.
01:04:45The CMB also filed a criminal complaint against many people.
01:04:48The reason is transactions in Katılımevim,
01:04:52Gündoğdu Gıda, and Destek Finans Factoring stock markets.
01:04:55Emlak Katılım Bank also announced
01:04:59that it had started negotiations to acquire Katılımevim and Bir
01:05:01Evim.
01:05:04The Central Bank also regulated liquidity facilities.
01:05:07The funding provided through weekly repo auctions was
01:05:10increased. The size of the auction was increased
01:05:13to 30 billion TL. If there is a cash crunch in the market,
01:05:17banks will find
01:05:18money more easily.
01:05:21Now, with the crisis erupting yesterday, but actually since
01:05:25the beginning of the week, we have seen declines in the stock market,
01:05:28but yesterday we exceeded 6%. Losses
01:05:31were circuit-broken, as you know, a serious crisis was experienced
01:05:35in the stock market. If you ask what the markets are like now,
01:05:39there is a slight recovery in the stock market after days,
01:05:41at 13,447 level. The dollar continues
01:05:45its rise, and as you know, the Fed's interest
01:05:48rate decision also came yesterday, and an interest rate hike
01:05:51decision came. 4867, Euro
01:05:5556 and of course that interest rate hike is for now
01:05:58the crisis, what is happening in the markets, the reflections
01:06:01on the investor, and most importantly, will the measures
01:06:05and precautions announced today really work,
01:06:08what will be done with them, will the mess really be cleared by the state,
01:06:12we will discuss these. We have our guest, economist
01:06:16Enes Özkan is with us, welcome, hello.
01:06:19So we learned that 7 companies and 130
01:06:23funds were liquidated by the CMB. Afterwards,
01:06:26there were also statements from both the Central Bank and the Financial
01:06:30Stability Committee. I want to address them one by one and explain
01:06:32them in a language that the audience can understand
01:06:36with you. Now, here
01:06:39we are talking about 7 companies and 130 funds, a total of nearly
01:06:43900 billion liras. How will these funds
01:06:46be liquidated? That is, what will happen to the investors'
01:06:50money? Will they be able to recover their money? Or only a part
01:06:53of it? And most importantly, if there are cuts from these
01:06:57funds, will it be at the same rate for everyone, or will
01:07:00individual or small investors be protected? Let's start with
01:07:02that.
01:07:05Now, when talking about funds here, it is necessary to make the distinctions
01:07:08correctly. The liquidated funds, or rather, the ones
01:07:11that defaulted, are not intermediary institutions, but portfolio management
01:07:15companies. Within the liquidated funds, there are both money market
01:07:19funds and equity funds. Now, there are some differences
01:07:22between money market funds and equity funds. Money market
01:07:26funds also contain deposits
01:07:30and government bonds, which are instruments
01:07:34that can be quickly converted into cash. If you have money
01:07:37in money market funds, there is not much problem because
01:07:40this part can be quickly converted into cash. However,
01:07:44the problem with money market funds was already
01:07:48one of the reasons why international institutions like MSCI warned
01:07:52Turkey: reverse repo transactions. These reverse
01:07:55repo transactions involve going and
01:07:58taking the shares within another equity fund
01:08:02as collateral and lending the money within their own money
01:08:05market fund to that fund as a loan.
01:08:09Now, those collaterals... The value of the shares
01:08:12taken as collateral has fallen sharply,
01:08:16because these shares were perhaps
01:08:20priced far above their actual value. Since these funds
01:08:23constantly lent to each other and bought shares,
01:08:26could you explain the monetary repo
01:08:29part a little more? You can imagine
01:08:33a system like this: you deposited your money into a money market fund,
01:08:36and there is also an equity fund of the same company
01:08:40or a different company, it doesn't matter. You can lend money
01:08:44from the money market fund to the equity fund daily.
01:08:47You can also specify
01:08:50various rates and maturities.
01:08:54We call this transaction a reverse repo.
01:08:58That is, I took the stock as collateral and gave you money in return.
01:09:01Then you paid me back with interest,
01:09:05and I gave you back the stock. This is the relationship
01:09:09between the two funds. Now, this relationship was established
01:09:12a bit distortedly. As you know,
01:09:16there have been things in our stock market
01:09:19recently. There were some stocks that
01:09:23did not deserve their book value but whose market value increased
01:09:26greatly, reaching more than 100 times
01:09:30their book value. These stocks
01:09:33can actually be said to have been inflated by this kind of lending
01:09:37and collateralization method. Now, let me complete the
01:09:40part about money market funds as follows:
01:09:44money market funds also contain private sector
01:09:47debt instruments. The last example we saw
01:09:51was Kontrolmatik. Because private companies
01:09:54can actually issue various securities,
01:09:58bonds, and notes. That is, they
01:10:02can issue valuable papers and say, "You buy this paper and give
01:10:06me money. In return, I will pay you back your money
01:10:09in a certain maturity and take back the paper you have."
01:10:13When they cannot pay this, the private company actually defaults,
01:10:17and if the fund holds the paper of this company, the fund
01:10:21also loses its income. We had experienced this recently, as I said.
01:10:24And on top of that, with the reverse repo transactions made with equity,
01:10:28a big problem arose in some money market
01:10:31funds. However, we can interpret this as follows:
01:10:35money market funds generally yield a little above or a little
01:10:39below the deposit interest rate.
01:10:42Because they don't only contain deposits, there are other instruments
01:10:46as well. If it yields much more than that,
01:10:50then there is a problem, I wouldn't say, but there is a different
01:10:53transaction and attention should be paid to this. Currently,
01:10:57the money market funds that are in trouble, that have defaulted,
01:11:00that cannot make participation payments, are generally
01:11:03funds that claim to yield much more than the deposit
01:11:07interest rate. Of course,
01:11:10these funds seemed to yield a lot due to the transaction
01:11:14I mentioned earlier, but in reality, the gain was just
01:11:17a number on the screen. You couldn't realize the gain
01:11:21until you sold it, and at some point,
01:11:24you can't grind flour with borrowed water. This had an end, and
01:11:28it came. This is the money market fund part. This is a bit more,
01:11:32as I said, easy. Because here there are also cash-like
01:11:36assets. But in the equity funds, that is, the funds that gave the
01:11:39collateral and received money, there is also a problem. If
01:11:43we look at the growth rates of these equity funds,
01:11:46there are funds that have grown up to 7,000%
01:11:49annually. Here we see
01:11:52the problem caused by the credit mechanism and
01:11:55the collateralization mechanism. We can call it a kind of
01:11:59virtual size. Because when you look at it,
01:12:03there are companies with 200-300 employees that have surpassed
01:12:07the market value of large banks and holdings. But in reality,
01:12:10these companies, are they developing a big technology?
01:12:14Is their future very bright? You look and say no.
01:12:18In fact, it is a company that operates
01:12:21within the financial market. For example,
01:12:24but you look, its value has increased much
01:12:28more than the market value of a bank that could have a medium-sized
01:12:31customer. Here, we can actually see
01:12:35that there is a kind of manipulation.
01:12:37This part is a bit more difficult because
01:12:41its liquidation happens as follows:
01:12:44even before the CMB made a decision, these funds
01:12:47tried to pay this money when investors wanted
01:12:50to withdraw their money. How did they do this? Each fund contains
01:12:54various stocks. For example,
01:12:57let's not name it, a fund had more than 50 stocks,
01:13:01but a very large part of it consisted of stocks
01:13:05that we can call inflated, in terms of size.
01:13:08That is, there are two such
01:13:10inflated stocks in it, for example, and
01:13:1448 others are well-known, normal companies that do their business,
01:13:17and there are no problems with their financials, etc.
01:13:21So, there are well-known Turkish companies. Now,
01:13:25when everyone wanted to withdraw their money, they started selling
01:13:28the available stocks, and first, they started selling the stocks
01:13:31that could be sold and would bring money. This was one of the biggest
01:13:35reasons for yesterday's decline. That is, there are stocks
01:13:39that always have buyers, and they started selling them.
01:13:42After those were gone, only these
01:13:45inflated stocks, so to speak, remained. And
01:13:49I don't know how right it is to say that these are garbage
01:13:52now, because people are also hurting.
01:13:56They invested their savings here. I can
01:13:59understand people too. It's a sad
01:14:03situation, of course. I wish we had done
01:14:06our risk assessment better, but sometimes people can be
01:14:10blinded or lack information. Maybe we can't say it's garbage,
01:14:13but whether it will reach its old value
01:14:17in the very long term or not is not clear.
01:14:20If this money is to be paid back in the short
01:14:24term, then the prices of those stocks,
01:14:27their value, will decrease significantly,
01:14:31I think. Exactly. The CMB statement
01:14:34still doesn't clarify how this liquidation will be done.
01:14:37There is a phrase like "it will be liquidated by the method
01:14:40to be determined by the board." Of course, there are many
01:14:44different methods for this. The board can directly try
01:14:47to sell these stocks in the stock market, but ultimately,
01:14:51these stocks are now stocks that no one wants
01:14:55to buy, and their overpricing has been realized. Therefore,
01:14:59their value will decrease significantly. There may
01:15:02not even be any buyers, and what we call "going down
01:15:05limit down" means that when it falls 10%,
01:15:09a circuit breaker will be applied. Whatever is sold, the next day,
01:15:12and the day after that, these stocks will be continuously
01:15:16attempted to be sold in the stock market. And this will take
01:15:20a very long time. Or the CMB can say that
01:15:24I will try to sell 1% or 2% of these stocks every
01:15:27day to prevent the price from falling too much. In this
01:15:31case, payments will be delayed a lot, because those stocks
01:15:34need to be sold. Or people can take over the stocks
01:15:38directly, but where will they sell these stocks then?
01:15:41They will try to sell them in the stock market, or if
01:15:44they try to hold them, their value will still decrease.
01:15:47Unfortunately, there are many methods for how this liquidation
01:15:50will be done. For example, the CMB can also collect
01:15:54bids to see if there is anyone who wants to buy them, as I explained
01:15:58earlier. It can also try to sell them in over-the-counter
01:16:00markets, but not in the stock market.
01:16:04We will see how this liquidation unfolds over time. What about
01:16:07the measures or solutions announced by the Central Bank?
01:16:10It announced that it will increase the funding provided through
01:16:14weekly repo auctions, increase the borrowing limits of banks
01:16:17from the Central Bank, and reduce collateral discount rates.
01:16:21So, when you read this, as you said, there were normal
01:16:25stocks and inflated stocks.
01:16:27They reached billions of liras in size,
01:16:31attracting small investors, and now we are facing a mess.
01:16:35So, when we combine these measures taken by the Central
01:16:38Bank with the statements of both the CMB and the FSC,
01:16:42the question arises: will the state clean up
01:16:44the mess? And this actually means that it will cause
01:16:48public loss, won't it?
01:16:52Unfortunately, such a situation arose.
01:16:55Let's think this way: even if nothing
01:16:58happens, that is, if the state does not actively
01:17:01even if there is no cleanup, when the Central Bank injects liquidity into the market, this
01:17:05creates inflation, okay? The amount of money injected is not
01:17:08a very large amount, but still, within
01:17:12this disinflation program, something that goes against
01:17:15the program is being done, and
01:17:18inflation is actually an invisible tax that comes out of all
01:17:22our pockets, even if we are not very active. We, as all citizens,
01:17:26have already taken on this cost.
01:17:29It could also be a situation where we become more active.
01:17:33For example, the housing companies Katılım Evim and Birevim, which are affiliated
01:17:36with Pusula Holding, will be taken over by Emlak Katılım Bankası.
01:17:40This could actually be a profitable
01:17:44transaction I was going to ask about that, but
01:17:48isn't it problematic that such a thing is happening directly
01:17:51without any damage assessment work?
01:17:55Unfortunately, we cannot fully know what is being done in the background there.
01:17:58Of course, these companies have publicly available information,
01:18:02as they are listed on the stock exchange, so we can know that, but Emlak
01:18:05Katılım Bankası has already stated that negotiations have started
01:18:09only for the takeover. We don't know how
01:18:12this will continue, but since such a statement has been made,
01:18:15it is very likely that they will take over these. For example, it seems
01:18:19they will solve a part of the issue
01:18:22through Emlak Katılım. The main purpose
01:18:25of providing liquidity to banks
01:18:29is for intermediary institutions to access this liquidity
01:18:33in some way if there is a liquidity problem,
01:18:35meaning to access this money,
01:18:37etc.
01:18:46Various regulations were made, no need to go into details, but it seems we will try to overcome
01:18:50this problem by injecting some money into the market.
01:18:54But, as I said,
01:18:57unfortunately, my prediction
01:19:00is that this issue will drag on,
01:19:02both that it will drag on and that
01:19:06the valuation and appreciation
01:19:09that investors in these funds
01:19:12expected will be largely reversed by the market.
01:19:16In other words, investors will definitely
01:19:19get back some of the money
01:19:22they invested, but they will get back only a part of it,
01:19:26right? Do I understand correctly? Yes, we can understand it like this,
01:19:30you understand correctly. The liquidation of a fund
01:19:33does not mean the disappearance of the assets within the fund.
01:19:36The assets within that fund will be returned to you
01:19:40proportionally to your participation shares. However, because we expect
01:19:43the value of the assets within that fund in Turkish Lira
01:19:47to decrease, you will actually receive
01:19:50a significant portion of the money you invested
01:19:54at a lower value, if you are one of the late entrants.
01:19:58But if you have been an investor in this fund for a very long time,
01:20:01you might have even made a profit. Everyone's situation is different
01:20:05depending on their entry time but
01:20:09unfortunately, it seems
01:20:12a lot of people got hurt. So,
01:20:15I'm sure you have friends you've talked to
01:20:18in your workplace and in different places since this morning.
01:20:22These are very large funds and funds that many people invest in.
01:20:25There are many people around us who think, "I have some money,
01:20:29I'll protect it from inflation and not just earn as much as the inflation rate,
01:20:33but earn a little more." and want to invest it
01:20:36in places that yield higher returns.
01:20:40We also read on social media
01:20:43that people have turned to these funds
01:20:46instead of meeting some of their needs. This also shows
01:20:49something, meaning that
01:20:53especially when it comes to money market funds,
01:20:56we might need to redefine the risk definitions
01:20:59of these money market funds. Or, we call it a reverse repo transaction,
01:21:03you see that 60% of the fund is a reverse repo transaction.
01:21:06If you do 60% reverse repo with government bonds,
01:21:10it wouldn't be very risky. But if you do it with a private
01:21:13sector stock, meaning with a company's stock,
01:21:17then it is very risky. So you are actually taking
01:21:20all the risk of that stock. Therefore, its risk
01:21:23classification needs to change much faster. Maybe it should have a risk
01:21:27classification similar to a stock fund. But what we saw there was, for example,
01:21:30risk class 2 up to 7.
01:21:33These classes go up to 7, maybe it should be 5 or 6,
01:21:37so that people, at first glance,
01:21:41it's the only indicator they can see, namely, a price,
01:21:45and what is the risk of this business? These two needed to be defined correctly.
01:21:48Unfortunately, as far as we have seen,
01:21:51neither the price nor the risk classification
01:21:55in these funds managed by these portfolio management companies
01:21:59were correct. I will also ask this in just
01:22:02one sentence, Mr. Enes. We talked about
01:22:067 companies and 130 funds, but do you think this number
01:22:10could increase in the coming days?
01:22:13Unfortunately, I don't have any data on this, so I can't give a clear answer.
01:22:17I even thought that
01:22:20there might have been a mistake with some of these 7 companies,
01:22:24because I didn't expect it to be so widespread.
01:22:27Our financial tradition, our mutual fund tradition,
01:22:31is quite deep-rooted. There is an experience
01:22:34that has existed since the 1970s. Unfortunately,
01:22:37in recent times, there have been rumors that transactions regarding these funds
01:22:41were made with different motives rather than economic rationality,
01:22:44that the management structure was not transparent
01:22:47but more complex, or that the money
01:22:50invested here might have come from different sources.
01:22:54These, of course, cannot be openly
01:22:58expressed in the end, but I honestly
01:23:01haven't heard such rumors
01:23:05about other funds. Therefore, I hope
01:23:08it won't spread, but unfortunately,
01:23:11we don't have solid data on this. Thank you very much.
01:23:14Thank you for joining
01:23:18and for the information you shared. You're welcome, have a good broadcast.
01:23:22Thank you. Now,
01:23:25let's continue with traffic fines.
01:23:27As you know, we've been talking about them for quite some time.
01:23:31When we look at the budget, one of the main items
01:23:34of budget revenues is traffic fines,
01:23:38and the other is taxes. The traffic fines collected so far
01:23:41have exceeded the 8-month budget deficit. While traffic fines
01:23:45constitute 31 liras of every 100 liras
01:23:48of fines entering the treasury, traffic fines were also the most successful
01:23:52in the collection.
01:23:56The leaders of the state should pray for the people, otherwise they will starve without us.
01:23:59They should pray for us. The monetary fines
01:24:03that entered the state budget from citizens' pockets exceeded the 8-month budget deficit.
01:24:07Approximately 31 liras of every 100 liras
01:24:10of monetary fine revenue is made up of traffic fines.
01:24:14The largest share comes from traffic fines. Do you feel this? We do.
01:24:18Hissediyor musunuz bunu? Hissediyoruz.
01:24:25I 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
01:24:28369 billion liras. However,
01:24:32when it came to the collection of monetary fines,
01:24:35the same performance
01:24:37could not be achieved.
01:24:40The fines are very heavy, so I pay attention, meaning we follow the rules.
01:24:43Are we more careful because they are high? Yes, exactly.
01:24:46The total monetary fines issued between January and August
01:24:50quadrupled the target of 348
01:24:53billion 398 million 600 thousand
01:24:56liras in monetary fine revenue for the entire year.
01:25:00However, only 196 billion liras
01:25:03of these fines issued on paper could be collected.
01:25:07Thus, as of August, only 56.3%
01:25:10of the year-end revenue target was achieved.
01:25:13As you can see, the fines are heavy. Of course, we also need to
01:25:16follow the rules during this time. High.
01:25:21But this will not end well. Traffic fines were the most successful
01:25:24in collection, and a target of
01:25:2773 billion 344 million 500 thousand
01:25:30liras in traffic fine revenue was set for the end of the year.
01:25:3383.9% of this target was reached
01:25:36between January and August. As of the end of August,
01:25:39135 billion 180 million 600 thousand
01:25:42liras in traffic fines were issued to citizens,
01:25:45and 61 billion 516 million liras of this money
01:25:48was collected. Many thanks to Mehmet Şimşek for your traffic fines.
01:25:52Mehmet Şimşek is my fellow townsman, but shame on him. I'm not saying anything.
01:25:55Another item that stood out in collection performance
01:25:59was tax penalties. As of the end of August,
01:26:03tax penalties totaling 812 billion 550 million liras
01:26:06were issued, mostly to companies, but
01:26:10only 11% of this could be collected. While 196 billion liras
01:26:14in collections were targeted for the end of the year,
01:26:17the tax penalties that could be collected in 8 months
01:26:20remained at 80.9 billion liras. For example, if there's a fine here,
01:26:23I turn back from above, I don't make a U-turn there,
01:26:26because the fines are high, 5,000, plus our license is taken away.
01:26:30Our license is everything, as you know.
01:26:36In the Aegean Sea, Greece and Turkey once again clashed.
01:26:39The island of Meyis is actually an island
01:26:43with a non-military status, but Greece continued to station
01:26:46soldiers there, and even the Prime Minister
01:26:50visited them. Turkey also took a step. The Ministry of National Defense
01:26:53announced that the 51st Commando Brigade was moved to Aydın Söke,
01:26:57the closest region to Greek territory.
01:27:01The 51st Commando Brigade
01:27:04was moved to Söke. The Ministry of National Defense,
01:27:07stating that this decision was taken in June, said that necessary
01:27:10arrangements are being made in line
01:27:13with the duties and operational needs of our Turkish Armed Forces.
01:27:17The relocation of the 51st Commando Brigade
01:27:20from Tunceli to Aydın Söke was a step taken
01:27:24after Greek Prime Minister Mitsotakis's visit to Meis Island
01:27:27on September 10 and his contact with military elements.
01:27:31kurmasından sonra atılan bir adım
01:27:33We emphasize once again
01:27:38that attempts to create a de facto situation
01:27:42contrary to the non-military status of Meis, which is very close
01:27:45to the Turkish coast, are incompatible
01:27:48with international obligations and will not be accepted by our country.
01:27:52The Ministry of National Defense responded to the Greek Minister's
01:27:55images with military elements. The Ministry
01:27:59recalled the 1947 Paris Peace Treaty. It was stated that
01:28:02"we emphasize once again that it will not be accepted
01:28:05by our country."
01:28:07Ankara strongly reacted
01:28:13to the Yemeni Houthis' attempt to attack Mecca with a UAV.
01:28:16The Ministry of Foreign Affairs made a written statement:
01:28:21"We strongly condemn the Houthi UAV attack
01:28:25targeting the holy city of Mecca." It was stated.
01:28:28"We reiterate our support for Saudi Arabia's sovereignty,
01:28:32territorial integrity, and security.
01:28:35We emphasize once again our solidarity
01:28:38with Saudi Arabia." The Ministry
01:28:41reiterated its call for an immediate end
01:28:45to these attacks, which threaten regional stability and security,
01:28:49and for all actions aimed at further escalating
01:28:52tensions to be avoided. AK Party spokesman Ömer Çelik
01:28:56also said that they condemned
01:28:59the drone attack targeting Mecca.
01:29:02girişimi lanetlediklerini
01:29:04Now, the war between
01:29:11the United States and Iran sometimes intensifies, sometimes calms down.
01:29:15What will be the latest situation? It's a matter of curiosity.
01:29:18A statement came from Trump. In fact, statements continue to come intermittently.
01:29:22He had said that the war would end after the elections. Now he said that the end of the war is very near.
01:29:26But on the other hand, a news report and images
01:29:30exploded in the American press. It was alleged that "the war
01:29:33is very different from what the Washington administration told the outside world,
01:29:37and especially that the damage
01:29:40to US bases in the Middle East is significant."
01:29:44sürüldü.
01:29:48US President Donald Trump once again made optimistic statements
01:29:51regarding the end of the war with Iran.
01:29:53etti.
01:29:56Trump stated that they continue direct contact with Tehran
01:29:59and that "Iran wants to make a deal very much."
01:30:03He said, "I hope we are nearing the end of the war."
01:30:05konuştu.
01:30:08While Trump was saying these, American CBS television
01:30:11published a striking report about the days when the war was in full swing.
01:30:15They published photos showing the extensive damage
01:30:19caused by Iran's retaliatory attacks to American bases in the Middle East.
01:30:23yayınladı.
01:30:25The photos, allegedly leaked by US soldiers serving at the bases,
01:30:29clearly revealed for the first time the destruction
01:30:33suffered by American bases.
01:30:34In the photos showing bases
01:30:38in Saudi Arabia, Kuwait, and Jordan, unusable aircraft,
01:30:42burned ground vehicles, and demolished buildings are striking.
01:30:45The destruction revealed by the leaked photos
01:30:48is consistent with the report published by the Department of Defense
01:30:52this week. The report states that the total value of equipment losses
01:30:55in the Iran war, including approximately 60 aircraft, reached
01:30:593.7 billion dollars.
01:31:32pulled forward the closing date of the Parliament by one day in order to prevent the proposed motion
01:31:36from being voted on. Thus, the fate of the motion
01:31:39was left until after the midterm elections in November.
01:31:43kaldı.
01:31:46Now there are many important issues, we will talk about this, meaning the US bases in the Middle East,
01:31:49the serious damage that emerged there was reflected in the press,
01:31:53what kind of reaction came? Afterwards, next week
01:31:56there will be the United Nations General Assembly. President Erdoğan and US President Donald Trump
01:32:00will meet, this statement came from Tombarak. In the US,
01:32:04the Fed raised interest rates. How was that received? We will talk about all of them. Let's return to the US.
01:32:07Serra Karaçan is with us. Serra, welcome.
01:32:11Good broadcast, Güzem, thank you very much. Thank you. Now the images are very striking.
01:32:15So I want to start with this, even if it's brief. There is serious damage.
01:32:19It was also reflected in the press, how was it received there?
01:32:22Yes, the news very nicely and detailedly explained
01:32:25the big picture. There are attempts to impeach.
01:32:29Some Republicans. Congressmen who dared to confront
01:32:32Trump also support these. One thing is clear:
01:32:36Trump's optimism and the reality on the ground
01:32:39are not the same. This has been confirmed once again.
01:32:42Until now, we were always talking about the depletion of ammunition.
01:32:45We were discussing the inconsistencies here. But now it has become clear once again
01:32:49that Trump, who says Iran is desperately seeking negotiations,
01:32:52needs to see that the situation is not really like that.
01:32:56Many people are also continuing to call for him to leave.
01:32:59On the other hand, questions about transparency
01:33:03have come up again, not only about casualties,
01:33:07but also about the extent of the damage and how much minimum
01:33:10capacity has been lost. These questions have come up again.
01:33:14These are the points questioned in the press.
01:33:18Also, why are there so many leaks? Because even though
01:33:21BBC confirmed these photos
01:33:23and independent sources state that they are consistent
01:33:27with Pentagon reports, actually,
01:33:31many news and intelligence information have been leaked from the Pentagon so far.
01:33:35These are interpreted
01:33:37as being deliberately leaked, and can also be seen as an example
01:33:41of the crisis of trust and conflict within the army.
01:33:45And it can also be seen as a challenge to the Secretary of Defense.
01:33:48There is also the cost issue. It's not just a figure.
01:33:52Normally, they had said 33 billion dollars, a total of
01:33:5540 billion is being discussed as the cost of the Iran war,
01:33:59but it is reported that this participation
01:34:02in the war caused 100 billion dollars
01:34:06of damage to the American consumer. Of course,
01:34:09the situation of the allies and relations with allies
01:34:12and the erosion of the Gulf's trust in America is a separate issue.
01:34:16It is reported that the equipment loss is 3.7 billion dollars
01:34:19and 60 planes were damaged in these attacks.
01:34:22Of course, the Iranian attacks targeted bases in Kuwait, Bahrain, Qatar,
01:34:26Oman, and they destroyed many
01:34:30buildings and structures, let's add that. Now,
01:34:33next week there will be the United Nations General Assembly. Tombarak
01:34:37announced that the two leaders will meet. President Erdoğan and Trump
01:34:41will meet. It was the same last year.
01:34:44Is the schedule clear, or do you have other details,
01:34:48Serra? Yes, actually, at the end of this month, at the end of September,
01:34:52in Washington. There are two critical meetings, one in New York
01:34:55and one in Washington. One is in New York
01:34:59where we expect Erdoğan to meet with Tom Bararak at the 250th anniversary reception
01:35:02in Istanbul, which took place a week ago in Ankara for America's 250th
01:35:06anniversary celebrations. Based on his statement there,
01:35:10there will be a bilateral meeting between Trump and Erdoğan.
01:35:13eee Trump'la Erdoğan arasında.
01:35:20As you know, America's Ambassador to Ankara, who is also the Special Representative
01:35:23for Syria and Iraq, Barack, is constantly referred to
01:35:27in American circles as Erdoğan's man.
01:35:30President Trump and Erdoğan's good relations are already known, so such a meeting
01:35:34on the sidelines of the UN would not be surprising. President Erdoğan is expected to depart
01:35:37at 3 PM Turkish time on Sunday. His program in New York
01:35:40will be finalized on Monday. And he will attend the "100 Years of Friendship" program,
01:35:44which we know is such an event between America and Turkey.
01:35:47On Tuesday, he will address
01:35:51the United Nations General Assembly. He is expected to stay at the UN
01:35:55until 2 PM after this address.
01:35:58Afterwards, there are bilateral meetings
01:36:01with leaders at the UN headquarters in his program.
01:36:04Currently, the names of the bilateral meetings in President Erdoğan's program
01:36:08are not yet clear. There are only slots for bilateral meetings.
01:36:11Which leaders will be present is not yet settled.
01:36:15Of course, Turkey will also hold some meetings there. However,
01:36:18it is striking that there will be a regional meeting on Gaza
01:36:21led by Trump, similar to what we experienced
01:36:25at the 2025 UN General Assembly last year. Last year, such a Gaza meeting
01:36:28was held with the participation of various leaders from Gulf countries
01:36:32and presidents of Muslim states. This year, it is currently tentative,
01:36:35but such a meeting is expected.
01:36:38But it will be a meeting on Iran, not Gaza, right Serra?
01:36:42Currently, in President Erdoğan's program,
01:36:45it is listed as a meeting on Gaza, with an unspecified note.
01:36:48That's what I can say Ankara sources
01:36:52are providing. At the NATO summit,
01:36:56as you know, Trump and Erdoğan met
01:37:00in Ankara. During that meeting,
01:37:03many issues such as the F-35 program, the engines of the Kaan fighter jets,
01:37:07and CATSA sanctions were discussed. And Trump told reporters,
01:37:10"Our relations have never been this good." And he said
01:37:14that Turkey has become a very powerful country under the leadership of the president.
01:37:17He makes such compliments from time to time.
01:37:21We also know that he frequently refers to Erdoğan's role
01:37:24in the Syrian situation. More importantly,
01:37:28about 9 days ago, President Erdoğan and America's Ambassador to Ankara,
01:37:31Barrak, held a meeting,
01:37:35and Erdoğan received him. This was also a closed-door meeting.
01:37:38House of Representatives member Daryl Issa also
01:37:41attended this meeting. Of course,
01:37:45the 81st session begins on September 22nd. The high-level week will last
01:37:48until September 28th. This year's theme of the UN General Assembly
01:37:52is to rebuild trust and manage transformation
01:37:55and a UN that delivers results for everyone. The ineffectiveness of the UN
01:37:58has been discussed for years. Erdoğan is also expected
01:38:02to speak on the opening day on Tuesday, as the 4th speaker.
01:38:06However, at the same time, on September 24th,
01:38:09President Trump will host the Chinese President
01:38:13in Washington. Shin Ping
01:38:17is coming to Washington on September 24th, and Trump is expected
01:38:20to greet him at Andrews Air Force Base,
01:38:24with a ceremony there. This is quite important,
01:38:27because for a long time,
01:38:31we haven't witnessed an American president
01:38:34doing such a welcoming. This week,
01:38:38I also saw with my own eyes at the White House
01:38:41that bands are rehearsing for his reception at the White House.
01:38:45We can say that there is also a feverish preparation there.
01:38:49Let's also add this: Jim Ping did not meet Trump at the airport,
01:38:52but Trump will meet him at the airport.
01:38:55There are also tense issues there, of course. Of course, Erdoğan will also have
01:38:59meetings with the Turkish community in addition to these diplomatic meetings.
01:39:03There will be an event with Taik, the American Business Council, and Seta. He is also expected to meet with NGOs, Task, MÜSİAD,
01:39:06and the presidents of Muslim organizations in America.
01:39:10Now, the Chinese leader
01:39:14seems to be receiving a very fancy welcome.
01:39:17Let's see how it will be received, but at the same time,
01:39:21I think we will continue the discussions we left last year
01:39:25with the meeting of President Erdoğan and Trump this year. Has the F-35
01:39:28arrived? Are there engines for the Kaan? Have the CATSA sanctions been lifted?
01:39:31We will also evaluate these. Also, do you think this will come up,
01:39:35or should we bring it up? Now, an attack was carried out on Mecca,
01:39:39or rather, Saudi Arabia said that a UAV was neutralized.
01:39:42They said it came from the Houthis. They denied it, but
01:39:46we agreed with Saudi Arabia's statement. Yes, we said that the Houthis carried out
01:39:50this UAV attack, and we are making statement after statement,
01:39:53condemnation after condemnation. Now, the Mecca Agreement
01:39:57has also come on the agenda, because there is also
01:40:01a situation called an agreement, in quotation marks, where we expressed
01:40:04wishes with Saudi Arabia and Pakistan. What is the essence of this?
01:40:08Yes, actually, it resonated a lot
01:40:10in America for two days. American Representative Joe Wilson,
01:40:14chairman of the Turkey-America Friendship Group, also made a social media
01:40:17post two days ago. Turkish and Pakistani officials
01:40:21actually stated that they did not receive any support request
01:40:24from Saudi Arabia. When we look at international agencies,
01:40:28we see that officials gave such statements, both from the Turkish side
01:40:31and from the Pakistani side.
01:40:34therefore, it was clearly
01:40:37stated that the alliance has not become functional
01:40:41and institutionalized. In Turkey, it was not
01:40:44approved by the Grand National Assembly of Turkey. As far as I know, there is a similar parliamentary
01:40:48system in Pakistan. Therefore,
01:40:51while Turkey strongly condemns the Houthi attack,
01:40:54a statement came from the Directorate of Communications. A statement
01:40:58came from the Ministry of Foreign Affairs, saying that they
01:41:02do not accept such a targeting of Saudi Arabia and the holy city
01:41:05of Mecca, the Kaaba. They called for it to stop. The Houthis,
01:41:09meanwhile, say "we didn't do this drone attack,"
01:41:12from Joe Wilson, the head
01:41:15of the Turkish-American Friendship Group, no American official
01:41:18has made such a military call to Turkey,
01:41:21because these three countries have not conducted a joint
01:41:25exercise, their parliaments
01:41:36have not approved it, they have no such preparations. The call to destroy the Houthis
01:41:40by helping Saudi Arabia was exactly this in quotation
01:41:43marks. This shows once again how isolated and
01:41:46detached from reality this is. In Turkish-American
01:41:50relations, Wilson is an example of those who try to conduct
01:41:53business in the friendship group, which we call a caucus.
01:41:56Yes. He comes to the events of Turkish-American
01:41:59associations. When there are cultural days in Congress,
01:42:02he both comes himself and provides the venue, trying to help.
01:42:06But he is not even aware of this issue and can make this call,
01:42:10even when the agreement was signed, he commented that
01:42:14it was Trump's success and a step that would bring
01:42:18stability to the Middle East. Another important hidden
01:42:21aspect is that there is a new situation that will change
01:42:24the regional power balance between America and Saudi Arabia:
01:42:28a nuclear agreement, a Mecca Pact, in front of Iran.
01:42:31The fact that Turkey will enter into something that
01:42:34binds itself with an article like NATO's Article 5,
01:42:38which can take Saudi Arabia's side, is naturally being discussed,
01:42:42because this nuclear agreement is even being discussed
01:42:45in America. So, senators from both parties, just
01:42:49yesterday, asked the Trump administration to declassify
01:42:52additional secret letters and statements related
01:42:56to the agreement. There are some Republicans who disagree
01:42:59with Trump, especially them, who say that this should
01:43:03not be allowed, meaning that Saudi Arabia will start
01:43:06nuclear enrichment, which Iran is doing. They say
01:43:10they are concerned about this. One of these names
01:43:13is John Kennedy. Therefore, it is clear that there
01:43:16is a reservation about Saudi's nuclearization in both
01:43:20parties, apart from the Democratic-Republican conflict. If Saudi gains
01:43:24such a capacity, they are trying to present
01:43:27it as a balance against Iran's nuclear program.
01:43:31But other countries, the United Arab Emirates,
01:43:34Egypt, may also want this. What role the Mecca
01:43:38Pact will play, we will naturally follow
01:43:42this, because it is an agreement focused on guaranteeing
01:43:45Saudi Arabia's security, and now Saudi Arabia can
01:43:49also press for nuclear acquisition, saying "this
01:43:53agreement doesn't work, how will I protect myself?"
01:43:56Therefore, some risks are
01:44:10foreseen, and we can say that there are opponents
01:44:13on the political scene in America as well. Now,
01:44:16quickly, the United States' wishes were not
01:44:20fulfilled again. The US Federal Reserve
01:44:22(Fed) blindsided Trump, raising interest rates
01:44:26by 25 basis points with a unanimous vote.
01:44:29Thus, the interest rate rose to the 3.75-4
01:44:33range. Trump had appointed
01:44:34Kevin Wash to head
01:44:40the Fed to lower interest rates, but even this appointment
01:44:43did not work. The Fed raised interest rates
01:44:46for the first time since 2023. After the decision,
01:44:50Fed Chairman Kevin Wars made a statement, saying
01:44:53that inflation has been high for a long time.
01:44:56He emphasized that the priority
01:44:58is 2% inflation. He
01:45:01said, "We believe that we will achieve price stability
01:45:04at the right time with the unanimous decision."
01:45:08This interest rate hike may not be the last.
01:45:12Fed officials signaled another interest rate
01:45:16hike before the end of the year. Trump showed his reaction
01:45:19on his social media account. He said that interest
01:45:21rates should be lowered
01:45:23to 1% or below. Trump used the expressions "this
01:45:27cannot continue" and "lower interest rates
01:45:30for the USA, and quickly." In August, consumer prices
01:45:34in the USA increased by 0.4% monthly. This
01:45:37means a 4-fold increase
01:45:44compared to July. Annual inflation remained unchanged
01:45:47compared to July, reaching 3.4%. The interest rate
01:45:51hike after 3 years, Trump's reaction. I have two minutes,
01:45:54I'm leaving the floor to you. Yes, actually, the
01:45:58Fed chairman he chose, along with the 12-person
01:46:02board, all voted together. Trump himself admitted
01:46:05that he told them not to vote differently from
01:46:08them, and that even if they did, it wouldn't
01:46:11make a difference. He claims that they are acting
01:46:15with hatred for political reasons, with the aim
01:46:18of making him look unsuccessful. He argues that this interest
01:46:21rate hike is artificial and unnecessary. Of course,
01:46:25this is not true, as Warsch explained yesterday.
01:46:28And another interest rate hike is expected in the United
01:46:32States before the end of the year. But if you ask if this
01:46:35will affect the financial situation of Americans
01:46:39much, inflation due to the war has already affected Americans.
01:46:42If Americans have fixed-rate home loans or car loans,
01:46:45or if they have used any savings products, nothing
01:46:48changes. But for new loans, it is expected that rates
01:46:51will rise soon for people who apply for credit due
01:46:55to inflation. Trump's economic performance is weak,
01:46:58approval ratings are 37-40. After this step in America,
01:47:02a step probably came in England. How will investors
01:47:05react to this picture? On the other hand, there
01:47:08is a tension with Canada, as you know. He is trying
01:47:12to strengthen ties with Europe. Now, sanctions against Russia
01:47:15are on the agenda with Trump's customs wars.
01:47:19Customs up to 100% for countries buying natural
01:47:23gas from there. He penalized Canada with customs. How
01:47:26does the world read all this, and how will central
01:47:29banks around the world decide on interest rates?
01:47:33The main problem is the way they perceive the general
01:47:36economy, not the increase in interest rates. But Trump
01:48:05and Canada have better credit
01:48:13ratings. Gizam. Thank you very much for participating.
01:48:16Thank you for the information and data. We have come
01:48:19to the end of our time with this connection. We
01:48:22are concluding. You will be on Halk Ana Haber.
01:48:25Good evening. Orbus. Gold belongs
01:48:28to everyone, but a bracelet is a strong man. Years
01:48:31of savings, the tradition
01:48:39of these lands, Turkey's
01:48:59bracelet is Koçak. Koçak, my dear mother,
01:49:03my love. When it comes to your child, you realize
01:49:07how much you have to think about when you become
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01:50:47Halk TV is now on a new frequency. Halk
01:50:50TV has switched to its new frequency on
01:50:54Türksat 5B satellite. If your satellite receiver
01:50:57has the TKGS feature, you don't need to do anything.
01:51:01How will you adjust the frequency for satellite
01:51:04receivers without TKGS? Go to the settings channel
01:51:07search steps and set the channel search mode
01:51:11to manual. Select Türksat 5B as the satellite
01:51:14option. Enter 11.225
01:54:31with education." To make the unheard heard,
01:55:05to say the unsaid, to show the unseen.
01:55:07From the street to politics, from the market
01:55:11to the markets, from street stalls to large supermarket shelves.
01:55:15Every weekday morning from 7 to 10.
01:55:18While Turkey wakes up to the day,
01:55:21we will be here, in this studio, together.
01:55:24We eat the most expensive food, we use the most
01:55:28expensive phones. You do it. For example, eggplants, peppers,
01:55:32and tomatoes produced in Antalya are transported
01:55:35to Istanbul by trucks. In between, there
01:55:39are wholesalers who take their commissions.
01:55:42Therefore, expensiveness also comes from there.
01:55:46As long as this economic order continues, it
01:55:50is not possible, they cannot fix the economy.
01:55:54Now, there is indeed expensiveness, that's
01:55:57right. Of course, foreign capital, foreign brands,
01:56:01these have become very important in daily
01:56:05use. But if we, as a country, protect
01:56:09our own values, if we produce our
01:56:12own phones, our own cars, and use them,
01:56:15maybe we can overcome all of these, I think.
01:56:18We still haven't solved that. Indeed, inflation
01:56:22is rising quite a lot, salaries are quite
01:56:25low. Child care, then house rents,
01:56:28I don't know, it's quite messy. We can't
01:56:32get out of it, the situation is not very
01:56:36good because of the government. I have nothing to say,
01:56:40because whatever we say is meaningless.
01:56:42It's because the country is not well managed.
01:56:46I mean, right now, our country can really
01:56:49support not only 85 million but maybe 180
01:56:52million people, but because the administration
01:56:56is not good, or rather, because the rulers
01:56:59are not good, they put this expensiveness
01:57:02on the people. It's really very difficult,
01:57:06it shouldn't be like this. "We have children,
01:57:09let's say we are fine. Some go to school,
01:57:12they need money. We will buy books and
01:57:15pens, how will we buy them if there
01:57:18is no money? I can barely pay my house
01:57:22rent with my retirement salary. Besides that,
01:57:26water, electricity,
01:57:27food, how will I make
01:57:43ends meet? Nothing will happen without
01:57:46the AKP leaving. The AKP must leave,
01:57:49it has to leave, because there is no
01:57:53money. They are also gone, they have ruined
01:57:57the nation. It's a sin, it's a sin
01:58:00to these people. I've never seen such a
01:58:03thing. In their time, in Ecevit's time,
01:58:23they already took him away. Nobody
01:58:26wanted him. Why Ecevit? He was an honest man. Really,
01:58:30whoever the next government is, they
01:58:33must give money to us, the workers,
01:58:37civil servants, and retirees. This country
01:58:40will both have trade and improve. We
01:58:43have no other choice." We are with you,
01:58:46ladies and gentlemen, on Halk Ana Haber.
01:58:49Now, of course, we will say that the
01:58:53bill is for the public. We can say
01:58:56this about many issues. For example,
01:58:59the bill for the record price of diesel
01:59:03is, of course, for
01:59:06the public. The bill for ignoring the will
01:59:09of the nation is for the public. The
01:59:12fund bubble burst, the stock market crashed,
01:59:15the bill is for the public. That's why, and for many
01:59:18other things, we say
01:59:23the bill is for the public and we
01:59:26begin. Who held it, who brought it,
01:59:29who approved it, who turned a blind eye to all this?
01:59:33Actually, this issue had been warned about
01:59:37many times months ago. We are talking
01:59:41about the crisis that started with
01:59:44the default of fund management companies
01:59:48in Turkey and the effects of this crisis.
01:59:51Small investors are ruined, devastated.
01:59:55Now they are worried about what they will
01:59:58do. They don't know exactly what they
02:00:02should do. They don't know exactly what
02:00:06might happen in the future. It's a crisis
02:00:10of billions of liras
02:00:12affecting hundreds of thousands of investors.
02:00:16Afterward, the Financial Stability Committee