{"id":9758,"date":"2019-04-21T16:13:58","date_gmt":"2019-04-21T16:13:58","guid":{"rendered":"http:\/\/acarhoca.com\/?p=9758"},"modified":"2019-04-21T16:27:51","modified_gmt":"2019-04-21T16:27:51","slug":"ingilterenin-kara-carsambasi-16-eylul-1992","status":"publish","type":"post","link":"https:\/\/acarhoca.com\/?p=9758","title":{"rendered":"\u0130ngiltere\u2019nin \u201cKara \u00c7ar\u015fambas\u0131\u201d \u2013 16 Eyl\u00fcl 1992"},"content":{"rendered":"<p>Avrupa Birli\u011fi, para birli\u011fine ge\u00e7meden \u00f6nce Almanya&#8217;n\u0131n o d\u00f6nem kullanm\u0131\u015f oldu\u011fu Alman Mark\u0131 da b\u00f6lge i\u00e7in etkin bir para birimi idi. \u00dclkeler Alman Mark\u0131na g\u00f6re bir d\u00f6viz kuru belirlemekte idi. 1990 -1992 aral\u0131\u011f\u0131nda \u0130ngiliz sterlini de Alman mark\u0131na kar\u015f\u0131 sabitlenmi\u015f bir d\u00f6viz kuruna (2,95) sahipti. Ne olduysa 1992&#8217;de oldu, Sterlin&#8217;in de\u011fer kaybetmesi y\u00f6n\u00fcnde geli\u015fen dinamikler, \u0130ngiltere Merkez Bankas\u0131n\u0131n da direnmesiyle daha b\u00fcy\u00fck bir soruna yol a\u00e7t\u0131.\u00a0 \u0130ngiltere Merkez Bankas\u0131 s\u00fcre\u00e7 ile ba\u015f edemedi ve <strong>&#8220;Kara \u00c7ar\u015famba&#8221;<\/strong>\u00a0denen o g\u00fcn Sterlinde deval\u00fcasyon ya\u015fand\u0131. Bu g\u00fcn\u00fcn \u00f6ncesinde \u0130ngiltere&#8217;den y\u00fckl\u00fc miktarda (10 Milyar) Sterlin bor\u00e7lanan George Soros, Alman Mark\u0131 sat\u0131n ald\u0131.\u00a0 Sterlin bu r\u00fczgara dayanamad\u0131 ve ya\u015fanan deval\u00fcasyon sonras\u0131 G. Soros ald\u0131\u011f\u0131 borcu \u00e7ok daha kolay \u00f6deme imkan\u0131 buldu.\u00a0 Bu operasyondan sonra fonlar\u0131na ekstradan Bir milyar dolar girmi\u015fti.<\/p>\n<p>\u015eimdi \u00e7ok tan\u0131d\u0131k gelen bu i\u015flemlerin hedef bir \u00fclke ve Merkez Bankas\u0131n\u0131 nas\u0131l zor durumda b\u0131rakabildi\u011finin ayr\u0131nt\u0131lar\u0131na bakal\u0131m. Uluslararas\u0131 yat\u0131r\u0131m fonlar\u0131n\u0131n \u00fclkesi yoktur. Girdikleri \u00fclkeden kazan\u0131rlar ve \u00e7\u0131karlar. Bazen kriz onlar\u0131 da vurur, haz\u0131rl\u0131ks\u0131z yakaland\u0131klar\u0131nda zarar etseler de bunun<strong>\u00a0\u201cfaturas\u0131n\u0131 bir \u015fekilde keserler<\/strong>.\u201d Soros Sterlinin de\u011ferlendi\u011fi \u00f6ng\u00f6r\u00fcs\u00fcyle,\u00a0 bir dengelenme olu\u015faca\u011f\u0131n\u0131 ve bunun da deval\u00fcasyon yoluyla ger\u00e7ekle\u015fece\u011fini tahmin ederek \u0130ngiltere\u2019de bir pozisyon olu\u015fturur. B\u00f6ylelikle Sterlindeki d\u00fc\u015f\u00fc\u015ften Bir milyar dolar gelir elde eder, asl\u0131nda hadise budur. Ancak olay, yaz\u0131ld\u0131\u011f\u0131 kadar kolay geli\u015fmemi\u015ftir.<\/p>\n<p>\u0130ngiltere\u2019nin 1990\u2019da kat\u0131ld\u0131\u011f\u0131, ancak 1992 y\u0131l\u0131nda \u0130talya ile beraber sistemin <span style=\"color: #0000ff;\"><strong>\u201cd\u00f6viz kuru mekanizmas\u0131\u201d<\/strong><\/span>ndan ayr\u0131ld\u0131\u011f\u0131 zamanlarda ge\u00e7en olaylardand\u0131r. \u0130ngiltere\u2019deki bu deval\u00fcasyon, Sterlin\u2019in dengesini bozmu\u015f ve Avrupa Para Sistemi d\u0131\u015f\u0131nda kalm\u0131\u015ft\u0131r.<\/p>\n<p>Avrupa Para Sisteminde temel ama\u00e7, \u00fcye \u00fclkelerin para birimlerinde istikrar\u0131 sa\u011flamakt\u0131r. Bunun i\u00e7in para birimlerinin birbirleri kar\u015f\u0131s\u0131nda belirli s\u0131n\u0131rlar dahilinde dalgal\u0131 hareketi kabul edilebilir niteliktedir. B\u00f6ylelikle Avrupa\u2019da parasal istikrar b\u00f6lgesi olu\u015facakt\u0131r. Ancak Soros yine devrededir: \u201c\u0130ngiltere\u2019nin Euro B\u00f6lgesi d\u0131\u015f\u0131nda kalarak\u201d faiz oranlar\u0131n\u0131 ayarlayarak s\u00fcreci y\u00f6netebilece\u011fini ifade etmektedir.<\/p>\n<p>Soros \u0130ngiltere\u2019de Sterlin\u2019e kar\u015f\u0131 bir pozisyon al\u0131r. Kendince b\u00fcy\u00fck bir operasyondur: adeta bir kumar\u2026 1992 y\u0131l\u0131n\u0131n Eyl\u00fcl ay\u0131nda, y\u00fckselen AB yap\u0131s\u0131n\u0131n Alman Mark\u2019\u0131 lehine geli\u015fece\u011fine inanan Soros, Sterlin\u2019deki de\u011fer kayb\u0131n\u0131 ba\u015ftan \u00f6ng\u00f6r\u00fcr. \u0130ngiltere enflasyonu Almanya\u2019n\u0131n \u00fc\u00e7 kat\u0131 kadard\u0131r. Haliyle a\u015f\u0131r\u0131 de\u011ferlenen \u0130ngiltere paras\u0131n\u0131n\u00a0<strong>deval\u00fcasyon<\/strong>dan ba\u015fka se\u00e7ene\u011fi kalmam\u0131\u015ft\u0131r. Ekonomik g\u00f6stergeler alarm s\u0131n\u0131r\u0131ndad\u0131r.<\/p>\n<p>Avrupa Para Sisteminde yer alan Sterlin de Avrupa kur sistemi gere\u011fi, Alman Mark\u0131 kar\u015f\u0131s\u0131nda 2,95 seviyesini korumak zorundad\u0131r. Soros burada devreye girer. \u0130ngiltere Avrupa Para Sisteminden \u00e7\u0131karak bunu yapabilece\u011fini s\u00f6yler. Bu c\u00fcmlenin devam\u0131\u00a0<strong>\u201cmecburiyet\u201d<\/strong>\u00a0i\u00e7ermektedir. Kendi pozisyonlar\u0131 da deval\u00fce edilmi\u015f sterlin y\u00f6n\u00fcndedir. Vebali boynuna, Alman Merkez Bankas\u0131 Ba\u015fkan\u0131\u2019ndan da i\u00e7eriden bilgi al\u0131r.<\/p>\n<p>10 Eyl\u00fcl 1992\u2019de 10 milyar dolar de\u011ferinde sterlin sat\u0131p Alman mark\u0131 al\u0131r. Sterlin\u2019de de\u011fer kayb\u0131 \u00e7ok fazlad\u0131r. \u0130ngiliz Merkez Bankas\u0131\u2019n\u0131n\u00a0 operasyonlar\u0131 sonu\u00e7 vermez. Ancak bu i\u015flemin r\u00fczgar\u0131 da olu\u015fur, K\u00f6pek bal\u0131klar\u0131\u00a0<span style=\"color: #ff0000;\"><strong>kan kokusu<\/strong><\/span>nu alm\u0131\u015ft\u0131r: ba\u015fka sat\u0131c\u0131lar da devreye girer. Her ne kadar \u0130ngiltere Merkez Bankas\u0131 Alman mark\u0131 sat\u0131p sterlin alarak d\u00fc\u015f\u00fc\u015f\u00fc engellemeye \u00e7al\u0131\u015ft\u0131ysa da 44 milyar dolarl\u0131k d\u00f6viz rezervinin 15 milyar dolar\u0131n\u0131 harcam\u0131\u015f ancak Sterlin\u2019deki de\u011fer kayb\u0131n\u0131 \u00f6nleyememi\u015ftir.<\/p>\n<p>\u00d6nce<strong>\u00a0faizleri %2<\/strong>\u00a0artt\u0131rd\u0131lar. Yetmedi\u2026 Ayn\u0131 g\u00fcn ikinci faiz artt\u0131r\u0131m\u0131 geldi Sterlin\u2019de de\u011fer kayb\u0131 devam ediyordu. Enflasyon y\u00fcksek, faiz y\u00fcksek ekonominin dengesi ka\u00e7m\u0131\u015ft\u0131. \u0130ngiltere Merkez Bankas\u0131 ve H\u00fck\u00fcmet ola\u011fan\u00fcst\u00fc toplant\u0131lar sonucunda 16 Eyl\u00fcl 1992 \u00c7ar\u015famba g\u00fcn\u00fc, \u0130ngiltere \u00a0Sterlin\u2019i Avrupa Para Birli\u011fi\u2019nden \u00e7\u0131kard\u0131. Deval\u00fcasyon %16 idi. Soros\u2019un gelirine Bir milyar dolar eklenmi\u015fti. Di\u011fer \u00fclkeler de bu dalgalanmadan nasibini ald\u0131: \u0130spanya Peso\u2019su % 28, \u0130talyan Liret\u2019i\u00a0 %22 de\u011fer kaybedince Soros\u2019un k\u00e2r\u0131 katlanarak artmaya devam etti. \u00a0Bir milyar dolar kadar da bu i\u015flemlerden kazand\u0131. Soros\u2019un \u00a0bir haftal\u0131k k\u00e2r\u0131 2 milyar dolard\u0131r.<\/p>\n<p>Uluslararas\u0131 fonlar ayn\u0131 d\u00f6nemde d\u00f6rtte biri kadar kazanabildi. Jones fonlar\u0131 250 milyon dolar kazan\u0131rken, Kovner Caxton Corp.\u2019un 300 milyon dolarl\u0131k rekorunu Soros k\u0131rm\u0131\u015f oldu. Eyl\u00fcl ay\u0131nda hi\u00e7 kimse, \u00fcst \u00fcste birer milyar dolar kazanan \u00a0Soros\u2019tan daha fazla kazanamad\u0131. Soros bu kazan\u00e7la efsane oldu. Y\u00f6netimi alt\u0131ndaki varl\u0131klar Ekim 1992\u2019nin ortas\u0131 itibariyle 3,3 milyar dolardan 7 milyar dolara, 1993 y\u0131l\u0131n\u0131n sonunda ise \u00a011 milyar dolara \u00e7\u0131kt\u0131.<\/p>\n<p>Bu y\u00fczden ma\u011frur \u0130ngilizler i\u00e7in bu ma\u011fdur durum, ka\u00e7\u0131n\u0131lmaz son olmu\u015ftur. B\u00f6ylelikle 16 Eyl\u00fcl 1992 tarihini <strong>\u201cKara \u00c7ar\u015famba\u201d<\/strong> olarak ilan etmi\u015flerdir.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avrupa Birli\u011fi, para birli\u011fine ge\u00e7meden \u00f6nce Almanya&#8217;n\u0131n o d\u00f6nem kullanm\u0131\u015f oldu\u011fu Alman Mark\u0131 da b\u00f6lge i\u00e7in etkin bir para birimi idi. \u00dclkeler Alman Mark\u0131na g\u00f6re bir d\u00f6viz kuru belirlemekte idi. 1990 -1992 aral\u0131\u011f\u0131nda \u0130ngiliz sterlini de Alman mark\u0131na kar\u015f\u0131 sabitlenmi\u015f bir d\u00f6viz kuruna (2,95) sahipti. Ne olduysa 1992&#8217;de oldu, Sterlin&#8217;in de\u011fer kaybetmesi y\u00f6n\u00fcnde geli\u015fen dinamikler, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9759,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[660,497,1,166,591],"tags":[851,202,855,856,853,703,852,854],"class_list":["post-9758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ab","category-almanya","category-genel","category-guncel","category-para","tag-alman-marki","tag-avrupa-birligi","tag-avrupa-parasal-birlik","tag-euro","tag-kara-carsamba","tag-soros","tag-sterlin","tag-sterlin-devaluasyon"],"_links":{"self":[{"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/posts\/9758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/acarhoca.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9758"}],"version-history":[{"count":3,"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/posts\/9758\/revisions"}],"predecessor-version":[{"id":9763,"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/posts\/9758\/revisions\/9763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/acarhoca.com\/index.php?rest_route=\/wp\/v2\/media\/9759"}],"wp:attachment":[{"href":"https:\/\/acarhoca.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/acarhoca.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/acarhoca.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}