Turkey Melts Down As Coup News Spreads; Turkish Lira Tumbles

The Turkish lira tumbled sharply against the US Dollar today.

Social media accounts and photos shared on Twitter by users show massively long lines at many bank ATMs in Turkey.

Martial law was actually declared in Turkey earlier this evening, according to CNN: "Turkish military has taken over the government and imposed martial law, according to announcement read on Turkish TV."

It gets even weirder, though. Turkey's President, potentially on the run from members of Turkey's military who staged the coup, had to resort to addressing his nation awkwardly via FaceTime on a smartphone earlier today, presumably because access to state-run broadcast studios was impossible during the coup. Additionally, social media reports suggest major web sites including YouTube and Twitter were blocked or "throttled" during the coup, perhaps another reason why their President was forced to take his message to the small screen.

Watch my full discussion of today's surprise coup in Turkey below. I also commented on why Bitcoin is rising during this tumultuous period - is there a connection?

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