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BAKU - With the lira plunging to new depths before partly rectifying itself, Turkey has seen better days. Yet, what’s happening to the lira is not restricted to Turkey. Global credit levels, especially US dollar-denominated debts, are at an all-time high. Access to cheap credit has facilitated a new crisis in many emerging markets. Now, those reckless monetary policies are starting to show their cracks.
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Crypto by Kevin MacLeod (incompetech.com)
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