Hello fellow rebel capitals hope you're well coming to you from Istanbul Turkey it is quite a time difference

which is why I haven't been doing too many videos recently I was in Portugal, it's a little bit easier, but here in Istanbul it's three hours later than Portugal, which is eight, in total, it's eight hours later than East Coast time.

So right now for me it's 540 PM.

But more to the point, as you can imagine as someone who's obsessed with with macro

inflation and deflation all the things we talked about on this channel when I started

cruising around Istanbul yesterday,

one of the main things I wanted to talk to people about

is how they are coping with the consumer price inflation.

Now many would call this hyper-inflation. I don't know that I'd go that far, but according to the official government statistics, their inflation rate is maybe 60 or 70 percent per year. Now I think the unofficial number would be quite a bit higher than that just like the United States maybe 100, 120 percent. So it not technically hyper-inflation, but from the standpoint of an American or someone in the Eurozone or Australia or Canada, that would be relative to what they are accustomed to, I guess that would be hyper-inflation.

So I was fascinated by this and I took a tour yesterday I hired a private guide from the hotel and this gal was probably about 30 years old she just got married and her and her husband were both tour guides and definitely would be considered kind of middle class in Istanbul and so kind of in a roundabout way I about an hour or two into the tour, which by the way was fantastic.

If you haven't been to Istanbul, you have to put it on your list.

I mean, Portugal was impressive.

Lisbon was cool. The coast was impressive. Lisbon was cool, the coast was amazing,

Porto was from a historical standpoint was really incredible,

but Istanbul is on a completely different level.

When you go down and look at those churches and mosques

and the stuff they built here in like 500 or 600 AD,

and then the Ottoman Empire when they came in and took over and the things they built.

It's just absolutely staggering and you really can't understand what you're missing

until you actually come and see it face to face.

Like nothing I can do can prepare you for the magnitude

of the history and the structures and the city itself.

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