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  • Yazarın fotoğrafıSerhat D. İnan

Fighting Hoarding and the Black Market




Stocking and black market, which we heard very often in Turkey especially during and before the coalition government, unfortunately started to increase again in Turkey since 2015.Before the reasons, let's learn what is stocking and black market with general definitions.


stocking;


It is the collection and storage of a good in the market, more than its supply, in the form of a monopoly or with various partnerships.Since stocking a good will make it difficult for citizens or companies to reach that good, stocking;automatically creates the black market, they are connected to each other like ying-yang.At its most optimistic, it causes the monopolization of certain products and the citizen to access those products and services more expensively.In other words, hoarding causes some people to get rich without any reason and with high interest/profit share, and on the other hand, it causes impoverishment of the people and companies trying to reach these services/goods.For this reason, in most parts of the world, states using the mixed economy model are struggling with the black market and hoarding.From the past to the present, the products that have fallen into the black market the most have been drugs, food products, and technology inputs.


The black market and stocking, unlike the 90's, have changed some models and systems in today's Turkey.I would like to explain this with a few examples as it will be more memorable.


Second hand and new car prices have been on the rise for the last 1 year and are one of the issues that citizens complain about.The high exchange rate, SCT and VAT charged by the state are cited as the main examples as the reason for the cost of new and second-hand cars, but there is another point that the citizens and perhaps our state institutions overlook, which is "automobile stocking".During the SCT reduction, which ended on June 30, 2019, dealers who bought brand new cars from various cities of Turkey through their spouses, friends and employees tried to sell these brand new cars for the same price, or at least 15-20 on them.They tried to sell it with a profit share of a thousand TL.Those who could not find a brand new car in the dealerships and could get the car they paid for in a few months at the earliest, had to turn to the dealerships for this reason, or they put the thought of buying a new car on the shelf and were deprived of a need.In fact, even though there was no decrease in the amount of cars entering the country, this situation, which is an example of simple stocking, made it difficult for the citizens to reach certain products or forced them to buy them as expensive as the black market.


If you think that stocking is limited to automobile sales, you are greatly mistaken.Because recently, a serious stocking has started in imported technological inputs such as computers, mobile phones and cameras.About a year and a half ago, one of the measures taken by the bddk in order to borrow less money from the citizens was as follows;


'' In accordance with the Decision of the Banking Regulation and Supervision Board dated 25.02.2019 and numbered 8261 and the seventh paragraph of Article 26 of the Regulation on Bank Cards and Credit Cards, the installment periods for credit cards determined by the Board Decision dated 11.01.2019 and numbered 8198;excluding tablet purchases, computer purchases and transportation-related expenses are six months to twelve months, travel agencies-related domestic expenses, health and social services expenses are nine months to twelve months, and the general installment limit for corporate credit cards is nine months to twelve months.It was decided to take it to the moon.”


This well-intentioned system, which would be useful in practice and cause the citizens to borrow less, unfortunately did not work.You've probably heard that there are more than one second-hand shop and spot shop in every city.These establishments, which provide goods and services to the citizens in installments up to 36-48 months with promissory note, open account and guarantor, also receive a high commission from this service and sell goods at a more expensive price than abroad.Citizens who cannot make active purchases with their credit cards have fallen into the arms of galleries, spot sellers and mafia businesses.The debts that started to increase from person to person unfortunately put banks in a difficult situation and nothing has changed compared to the old system, as well as causing hoarding and a monopolized market.


Second-hand shops and spot sellers, who buy these imported technology inputs from various techno stores in a way similar to the system made by gallerists, in this way make a serious profit both from the interest commission and from the devaluation that hurts the GNP.The loser is of course the state itself and the purchasing power of the direct citizen.Cell phones and computers, which have now become a basic need in today's technology, have become a product that citizens have difficulty in accessing or have to buy for an excessively high amount regardless of the exchange rate.


Technology products that are out of stock in techno stores, vehicles that are not left in car dealerships are still in public.


PS: All this information is basic information about stocking and black market and is not any investment advice.


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