Forex is not that black and white. The Lira crisis leads to investors escaping to other âsaferâ currencies like the USD. Demand can go up due to haven status.
Rush to US currency is pretty black and white. Isnt it?
The actual Lira crisis was precipitated by US Sanctions. Funds were already losing their patience due to high inflation, dictator like grip of Erdogan and crony capitalism promoted by him. This was bound to happen.
I think US just send a signal in geopolitics that having dreams of past grandeur is a stupid idea in todayâs age. Erdogan was dreaming of a new caliphate.
â In early June, corporate heavyweights Warren Buffett, CEO of Berkshire Hathaway, and J.P. Morgan Chase CEO Jamie Dimon bemoaned the quarterly guidance system, in which companies forecast expectations of their future earnings.â
Is quarterly reporting a world standard started by USA? If we change, other countries may need to change.
Which âworldâs topâ CEO suggested 6 month reporting?
â In speaking with some of the worldâs top business leaders I asked what it is that would make business (jobs) even better in the U.S. âStop quarterly reporting & go to a six month system,â said one. That would allow greater flexibility & save money. I have asked the SEC to study!
Without quarterly reporting, some people will lose their jobs. Maybe itâs best to not change this. Just follow the customs, no point to change this since itâs not clear whether it would benefit.
Maybe Wall Street will be scared and spend a lot of money to lobby.