{"id":6087,"date":"2011-10-06T09:01:32","date_gmt":"2011-10-06T06:01:32","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=6087"},"modified":"2011-10-06T09:28:44","modified_gmt":"2011-10-06T06:28:44","slug":"doviz-kuru-ve-para-politikasi","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/doviz-kuru-ve-para-politikasi\/","title":{"rendered":"D\u00f6viz Kuru ve Para Politikas\u0131"},"content":{"rendered":"<p>D\u00fcnya ekonomisi \u00e7ok gergin bir d\u00f6neme girdi. En belirgin i\u015fareti mali piyasalardaki oynakl\u0131kt\u0131r. Kur, borsa, faiz, petrol, alt\u0131n vs. t\u00fcm g\u00f6stergeler adeta \u00e7\u0131ld\u0131rd\u0131. Bir a\u015fa\u011f\u0131 bir yukar\u0131, izleyenleri serseme d\u00f6nd\u00fcr\u00fcyor.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1521272313\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Ge\u00e7en g\u00fcn bir iktisat\u00e7\u0131 dostumla konu\u015fuyordum. \u0130stikrar ve sa\u011flamc\u0131l\u0131k \u00f6rne\u011fi Almanya\u2019da bile g\u00fcnl\u00fck borsa dalgalar\u0131n\u0131n y\u00fczde 3-4\u2019leri g\u00f6rece\u011fi asla akl\u0131ma gelmezdi dedi. Hakl\u0131. Ezberler birer birer bozuluyor.<\/p>\n<p>Bu hik\u00e2yenin sonu nas\u0131l olacak? K\u00fcresel ekonomi bir \u00f6nceki f\u0131rt\u0131nan\u0131n yaratt\u0131\u011f\u0131 hasar\u0131 daha temizlemedi. \u015eimdi yeniden sert r\u00fczg\u00e2rlar vuruyor. Herkes hissediyor. Ama gelebilecek f\u0131rt\u0131nan\u0131n \u015fiddetini kimse kestiremiyor.<\/p>\n<p>2008\u2019le \u00f6nemli bir fark\u0131 hat\u0131rlayal\u0131m. Bu kez ABD acil serviste yaln\u0131z de\u011fil. AB ve \u00c7in de kuyru\u011fa girdi. \u201cM\u00fckemmel f\u0131rt\u0131na\u201d korkular\u0131 somut bir ger\u00e7e\u011fe tekab\u00fcl ediyor. Do\u011frusu ben de giderek daha karamsar olmaya ba\u015flad\u0131m.<\/p>\n<p><strong>Gene d\u00f6viz kuru<\/strong><\/p>\n<p>K\u00fcresel piyasalarda bu \u00e7apta bir oynakl\u0131k do\u011fal olarak b\u00fct\u00fcn ekonomilere bula\u015f\u0131yor. Her \u00fclke, \u015fu ya da bu \u015fekilde, \u00e7alkant\u0131dan pay\u0131n\u0131 al\u0131yor. T\u00fcrkiye\u2019ye de yans\u0131d\u0131. Tersi d\u00fc\u015f\u00fcn\u00fclemezdi.<\/p>\n<p>Beklenece\u011fi gibi, T\u00fcrkiye\u2019de kamuoyu derhal d\u00f6viz kuruna odakland\u0131. Y\u0131llar\u0131n olu\u015fturdu\u011fu al\u0131\u015fkanl\u0131klar kolay b\u0131rak\u0131lm\u0131yor. Vatanda\u015f\u0131n kura duyarl\u0131l\u0131\u011f\u0131 y\u00fcksektir. TL de\u011fer kaybedince bozulur. De\u011fer kazan\u0131nca mutsuz olur. Aras\u0131n\u0131 bulmak olanaks\u0131zd\u0131r.<\/p>\n<p>TL\u2019nin son de\u011fer kayb\u0131 i\u00e7 konjonkt\u00fcr\u00fcn de ilgin\u00e7 bir an\u0131na rastlad\u0131. Daha \u00f6nce anlatt\u0131k. Bir y\u0131l \u00f6nce iktisat politikas\u0131nda k\u00f6kl\u00fc bir de\u011fi\u015fime gidildi. \u201cY\u00fcksek faiz-d\u00fc\u015f\u00fck kur\u201d d\u00f6nemi bitirildi. Yerine \u201cd\u00fc\u015f\u00fck faiz-y\u00fcksek kur\u201d politikas\u0131 geldi.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-662669189\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Yeni politikan\u0131n herkesi mutlu etmedi\u011fini biliyorsunuz. Merkez Bankas\u0131 y\u00f6netimi ele\u015ftirildi. Yeni politika tutmaz, yarardan \u00e7ok zarar verir, d\u00f6viz kuru kopup gider vs. dendi. Tart\u0131\u015fmaya ben de kat\u0131ld\u0131m. Yeni politikay\u0131 destekledim.<\/p>\n<p>Bu a\u00e7\u0131dan k\u00fcresel \u00e7alkant\u0131 yeni para politikas\u0131 i\u00e7in fevkalade \u00f6nemli bir s\u0131navd\u0131r. Ele\u015ftiriler do\u011fru ise, mevcut faiz d\u00fczeyinde Merkez Bankas\u0131\u2019n\u0131n d\u00f6viz kuru \u00fczerindeki denetimini kaybetmesi gerekir. Yani faizi art\u0131rmadan sert kur hareketini engelleyemez.<\/p>\n<p><strong>Yeni politikan\u0131n s\u0131nav\u0131<\/strong><\/p>\n<p>Yeni politikay\u0131 savunurken bu konuyu \u00f6zellikle vurgulad\u0131k. \u00d6zetle, Merkez Bankas\u0131\u2019n\u0131n faiz d\u0131\u015f\u0131nda g\u00fc\u00e7l\u00fc ara\u00e7lar\u0131 var, bunlar\u0131 kullan\u0131r ve faiz art\u0131rmadan TL\u2019ye y\u00f6nelik bir sald\u0131r\u0131y\u0131 savu\u015fturabilir dedik.<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-534558575\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Hangi ara\u00e7lar? Birincisi d\u00f6viz sat\u0131m\u0131d\u0131r. D\u00f6viz rezervleri bu t\u00fcr \u00e7alkant\u0131larla etkili \u015fekilde m\u00fccadele edebilmek i\u00e7in biriktirilir. Merkez Bankas\u0131 y\u00f6netimi de bunu yap\u0131yor. Do\u011fru tav\u0131rd\u0131r.<\/p>\n<p>Di\u011feri bankalar\u0131n d\u00f6viz mevduat\u0131 i\u00e7in Merkez Bankas\u0131\u2019nda tuttuklar\u0131 kar\u015f\u0131l\u0131klard\u0131r. \u0130ndirilmesi bankac\u0131l\u0131k kesiminde d\u00f6viz likiditesini art\u0131r\u0131r. D\u00f6viz piyasas\u0131nda olu\u015fan arz yetersizli\u011fini k\u0131smen dengeler. Do\u011fru m\u00fcdahaledir.<\/p>\n<p>Laf\u0131 uzatmak istemiyorum. K\u00fcresel \u00e7alkant\u0131 kar\u015f\u0131s\u0131nda getirilen tedbirler para politikas\u0131n\u0131n ama\u00e7lar\u0131 ile tutarl\u0131d\u0131r. En az\u0131ndan bu a\u015famada yeni politikan\u0131n s\u0131nav\u0131 ba\u015far\u0131 ile y\u00fcr\u00fctt\u00fc\u011f\u00fcn\u00fc s\u00f6yleyebiliriz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>D\u00fcnya ekonomisi \u00e7ok gergin bir d\u00f6neme girdi. En belirgin i\u015fareti mali piyasalardaki oynakl\u0131kt\u0131r. Kur, borsa, faiz, petrol, alt\u0131n vs. t\u00fcm g\u00f6stergeler adeta \u00e7\u0131ld\u0131rd\u0131. Bir a\u015fa\u011f\u0131&hellip;<\/p>\n","protected":false},"author":13,"featured_media":919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/6087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=6087"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/6087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/919"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=6087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=6087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=6087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}