Life's Price Tag

Foolish man, why didn’t you hold the government accountable when elections were happening?

I posed this question to an old man arguing with a shopkeeper over the rising price of potatoes. The poor fellow had no answer—not because he lacked reasoning, but because he didn’t know English, and my Turkish was far from fluent. (Not to mention, I muttered this quietly. Who wants to start a fight?)  

The current Turkish government is facing criticism from its people, but what’s the use now? At almost every shop, a Turk throws their hands up and laments, “I don’t have money!” Yet, they still buy everything and, of course, argue as if it’s a ritual. It has become a daily phrase here:  

"O Kadar Param Yök" (I don’t have that kind of money).  

At a barber’s shop, some “wise” young men were grumbling about the dollar. “The dollar is the real culprit,” they said. “Prices are skyrocketing because of the dollar!” they exclaimed, taking long drags from their cigarettes and exhaling with theatrical flair.  

Now, who will explain to these gems that vegetables, fruits, milk, and meat are all produced locally? What does the dollar have to do with those?  

Even beggars have increased on trains. Some beg in God’s name, while others showcase their talent. One young man walked through the train playing a violin, asking for money. No one gave him anything, and I felt awful. He seemed about my age. I pulled out some cash and handed it to him. He pocketed the money, put the violin away, and walked off. When he got on, he moved with energy, but as he stepped off the train, his gait had slowed. It left me feeling deeply melancholic.  

At the next station, some children were selling pencils. At every stop, little makeshift shops lined the ground, manned by beautiful souls searching for their daily bread. Among them was a girl with radiant eyes selling her paintings. As I browsed through her work, I couldn’t help but think these pieces deserved far more than their asking price. The words slipped out of my mouth:  

"The artist on the road."  

New characters keep emerging, but the play remains the same.  

—Rahat Indori  

These are two digital receipts of my grocery shopping—one from last year, 2023, and the other from this year, 2024. Last year was undeniably better. If every passing year feels worse than the one before, it’s a sign the economy is deteriorating.  

Potatoes are now Patates, tomatoes Domates, eggs Yumurta, and milk Süt. Even chicken deserves mention: Tavuk.  

Look at the prices, and you’ll notice a 40–50% increase. To bury this inflation under the rug, the minister conveniently raises salaries each year, as if that solves the problem. It doesn’t—not even close. But it does temporarily appease the naive public, who know little about economics.  

I don’t write as often these days, so let me end with a fitting verse:  

They are refreshed (after every presidential elections), showcasing new tricks.

✍🏻 Abdullah Mahmood  

December 24, 2024  

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My Life Feels Heavy

I don’t know where to start. Lately, my health has been all over the place. My reflexes are getting slower, my blood pressure is playing hide and seek—sometimes too high, other times too low—and I forget things a lot. It’s like my brain is on a long lunch break and forgot to come back. Honestly, I’m starting to feel like one of those old cars you’re afraid to take on a road trip.  

It’s been 1 year, 7 months, and 6 days since May 12, 2023. That day wasn’t a physical accident, but an emotional one that shattered me. She was in my life when I traveled here. In fact, I traveled for her. I came all the way to Istanbul to do my MBA, not just for my career but to impress her father. I thought if I achieved more, I could secure her and our future. But the truth is, her father was the one who pulled us apart.  

And she… she accepted it. She moved on so quickly, choosing someone else. Maybe it was quick money, or maybe something else—I don’t know. What I do know is she broke all the promises we made to each other. For seven years, she was my world. I never looked at another girl because she was enough. She was my everything. And now, after her, I feel like I’ve lost the ability to feel. Or maybe it’s not the feelings I’ve lost but the courage. I’m afraid of repeating the same mistake, of trusting someone only to end up broken again.  

Despite everything, I managed to stand up, at least on paper. I came to Istanbul thousands of miles away from home to do my MBA, and I did it. A few weeks ago, I graduated on time with a great CGPA. I worked as a teacher and in IT to keep myself busy. But busy doesn’t fix broken. It just distracts you for a while.  

Sometimes, I feel like life is laughing at me. It’s like that moment in Vanilla Sky: "The sweet is never as sweet without the sour." Well, I think I’ve had enough sour to last a lifetime.  

I miss my parents. I miss being close to the people who care about me. My mother, my father—they’re so far away, and it feels like I’ve lost my anchor. Maybe that’s why my health is acting up. Maybe it’s just the weight of being away from home, from love, from everything familiar.  

Right now, I don’t even know what’s happening to me. But I’m trying. I really am. Even when it feels like life is one long, sad joke, I get up. Maybe tomorrow will be better. Maybe not. But I’ll keep going because that’s all I can do.

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Why Printing Money Fails?

Why Can’t a Country Just Print More Money to Make Everyone Rich?

It’s a question many people wonder about: if a country can print its own money, why not just print a lot of it and make everyone rich? On the surface, this idea sounds simple and appealing, but in reality, it doesn’t work that way. Let’s break this down in easy terms.

The Value of Money

Money works because it has value. That value comes from trust – trust that the money can buy goods and services. If too much money is printed without an increase in goods and services, the value of the money decreases. This is called inflation.

Imagine this: You have 10 apples and 10 coins in an economy. Each apple is worth 1 coin. Now, if suddenly 20 coins are printed but there are still only 10 apples, what happens? The price of each apple rises to 2 coins because there’s more money chasing the same number of goods. 

The result? Your coins lose purchasing power, and prices go up. People aren’t actually richer; they just have more worthless money.

Inflation and Hyperinflation

Printing too much money can lead to hyperinflation, where prices skyrocket uncontrollably. Let’s look at some real-life examples:

1. Venezuela (2016–present):

   The government printed excessive money to cover its debts and provide subsidies. This caused inflation rates to exceed 1,000,000% at one point. A loaf of bread that used to cost a few bolivars became unaffordable for most people. The currency became nearly worthless, and people had to carry bags of cash just to buy basic items.

2. Zimbabwe (2000s):

   Zimbabwe printed large amounts of money to solve its economic problems. This backfired when inflation hit 89.7 sextillion percent in November 2008. People abandoned the local currency and started using foreign currencies like the US dollar instead.

3. Germany (1920s):

   After World War I, Germany printed money to pay war reparations. The result? Hyperinflation. Prices doubled every few days. People burned money for heat because it was cheaper than buying firewood.

What Actually Makes a Country Rich?

A country becomes rich not by printing money but by producing goods and services, creating jobs, innovating, and building a stable economy. For example:

- Japan and Germany: These countries don’t print excessive money, but their economies are strong because they focus on manufacturing and technology.  

- Norway: Norway invests in oil, renewable energy, and education. Instead of printing more money, they build wealth through resources and skilled labor.

What About Countries Like the U.S. Printing Trillions?

You might wonder, "Why can the U.S. print money without major problems?" The U.S. dollar is a global reserve currency, meaning other countries trust and use it for international trade. However, even the U.S. has limits. During the COVID-19 pandemic, the U.S. printed trillions for relief packages. While it helped in the short term, inflation rose significantly afterward, making daily life more expensive for Americans.

The Role of Central Banks

Central banks, like the U.S. Federal Reserve or the State Bank of Pakistan, carefully manage the money supply to keep inflation under control. They balance between having enough money in the economy to encourage growth and not so much that it devalues the currency.

In Simple Terms

Think of money as tickets to buy goods. If you print too many tickets without increasing the goods, the tickets lose their value. That’s why printing more money doesn’t make people rich—it just raises prices and creates instability.

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Life in Esenyurt

(Don't miss the photos I took; At end from Esenyurt, Küçükçekmece & Başakşehir)

Before moving to Esenyurt, I lived on Istanbul’s Asian side, in Pendik, and also spent some time in the dorms of İstanbul Okan University, which was located in Tuzla—basically, up on a mountain (or at least, that’s how it felt with the steep hills!). The dorm life was interesting. I was placed with some Nigerian students who were incredibly loud. They didn’t need to raise their voices; they could be heard from the other end of the campus even without a microphone! It was so loud that I seriously considered buying a soundproof helmet. After two days, I was counting the minutes until Monday to ask the warden for a room change. When I finally moved into a room with Turkish students, it was so quiet I thought I’d walked into a library. I almost whispered "good morning" to make sure I didn’t disturb the peace!  

The bazaars on the Asian side were amazing, far better than what I’ve seen in Esenyurt. The hustle, the noise, the energy—everything was at a whole different level. In Pendik, I lived in a VIP studio apartment. I have to admit, I used to think of myself as some sort of high-roller living the luxury life—until I realized that the "VIP" part just meant my apartment had a slightly larger kitchen and a view of the parking lot. But hey, at least I felt rich for a while! All jokes aside, the Asian side of Istanbul has a unique energy, and it will always hold a special place in my heart.

Esenyurt, where I’ve been living for over a year now (specifically in Güzelyurt), is quite an interesting place. Previously, I lived in Mehterçeşme, another area in this large district. Esenyurt, located on the European side of Istanbul, is one of the city's most densely populated areas, with a population of over 977,000 according to recent statistics. It has transformed significantly from being a small village to a sprawling urban hub. Despite this, it has its ups and downs. While affordable housing and diversity are its strengths, the area also faces issues like higher crime rates compared to other parts of Istanbul, especially the Asian side where tourists usually flock due to famous landmarks like Kadıköy and Üsküdar.

Esenyurt’s rapid urban development has brought modern residential complexes and bustling marketplaces, but it still retains pockets of quieter, less crowded neighborhoods like Güzelyurt. The district's diversity is a hallmark, as it’s home to a mix of locals and migrants from all over Turkey and abroad. Its affordable living options have attracted people from many walks of life.

During my time here, I worked at Asia International School and Manara International School, teaching Java & Python programming & Business Studies in other. Unfortunately, for the past two months, I’ve been out of a stable job, relying on freelance work to get by. On a brighter note, I recently completed my second master’s degree—an MBA—following my first in Computer Science. I’ve decided that’s enough studying for me; any more degrees, and I might start charging myself tuition fees! 

On a serious note, my Turkish residency permit (known as a kimlik) has expired, and I’m in the process of getting it renewed. If renewal works out, I’ll continue my life here; if not, it might be time to say goodbye to Turkey. Living illegally is not an option for me, even though many do it. It’s simply not aligned with my principles, and besides, the constant fear of being caught doesn’t sound appealing.

Esenyurt, despite its challenges, has been a unique chapter in my life. Whether I stay or move on, it’s a place I’ll remember for its vibrant streets, mix of cultures, and the lessons it has taught me.

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Turkey's Thodex Scam

The Thodex Cryptocurrency Fraud: A Dark Chapter in Turkey's Financial History

One of the largest financial scandals in Turkey's history is the Thodex cryptocurrency exchange fraud, masterminded by its founder, Faruk Fatih Özer. This scheme unfolded in 2021, leaving thousands of investors devastated.

The Beginning

Thodex, based in Istanbul, emerged as a promising cryptocurrency exchange platform. It attracted over 400,000 active users with aggressive marketing campaigns and promises of high returns on investments. However, the situation took a drastic turn in April 2021 when the platform suddenly announced a temporary halt to trading, citing a "partnership offer." This announcement turned out to be a smokescreen for what was to follow.

The Scam Unravels

Shortly after halting operations, Faruk Fatih Özer fled to Albania, taking with him an estimated $2 billion of investor funds, according to some reports. Official figures vary, with Turkish prosecutors estimating losses at around 356 million Turkish Lira (approximately $13 million at the time). Regardless, the financial impact on investors was catastrophic.

The Aftermath

A massive manhunt ensued, leading to Özer’s arrest in Albania on August 30, 2022. He was extradited to Turkey in April 2023 to face trial. During the court proceedings, Özer displayed no remorse and attempted to defend his actions by claiming the company merely went bankrupt. However, the court found him guilty of multiple charges, including fraud and money laundering.

In September 2023, Özer was sentenced to an unprecedented 11,196 years in prison, a symbolic penalty reflecting the scale of his crimes. This sentence underscored the severity of the financial and emotional damage caused to thousands of investors.

The Address and Operations

Thodex operated from its headquarters in Kadıköy, Istanbul, before its abrupt closure. The platform’s offices were raided by Turkish authorities during the investigation, uncovering evidence of fraudulent activities.

The Lessons

The Thodex case highlights the risks of unregulated cryptocurrency markets and the importance of due diligence when investing. It also serves as a cautionary tale for investors, urging them to verify the credibility of financial platforms before entrusting them with their money.

This fraud remains a stark reminder of how financial innovation, if left unchecked, can be exploited to devastating effect.

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