\N
The statements of Turkey's new Finance Minister Nuredin Nebati, who publicly supported a well-known conspiracy theory that the US Federal Reserve is owned by five wealthy families, have caused an international uproar.
"The central bank of the United States is not owned by the public. It is in the hands of five families," Nebati said during an interview with CNN Turk.
"This is crazy and shameful for Turkey. Turkey needs professionals in key positions," commented Timothy Ash, economist and head of emerging markets strategy at London-based BlueBay Asset Management, on Twitter.
"How can the finance minister of a G20 country... throw out such rubbish? This embarrasses Turkey," he added."
The conspiracy theory claims that the US central banking system is influenced or controlled by a number of old banking families such as Rothschild, Lehman etc.
Turkish President Tayyip Erdogan has appointed Nurentin Nebati as the new finance minister, following the resignation of Lutfi Elvan. The appointment announced in Turkey's Official Gazette coincides with a 27% drop in the lira in the last month alone.
Nebati was appointed in December by Recep Tayyip Erdogan as finance minister following the resignation of Lutfi Elvan. He has said he fully supports the controversial low interest rate economic strategy advocated by the Turkish president.
\NSource: Proto Thema
\NContents of this article including associated images are belongs Cyprus Times\NViews & opinions expressed are those of the author and/or Cyprus Times\NSource