{"id":4157,"date":"2017-02-11T10:09:23","date_gmt":"2017-02-11T10:09:23","guid":{"rendered":"https:\/\/www.millicozum.com\/mc\/2017\/02\/11\/varlik-fonu-mu-iflas-oyunu-mu-2\/"},"modified":"2017-02-11T10:09:23","modified_gmt":"2017-02-11T10:09:23","slug":"varlik-fonu-mu-iflas-oyunu-mu-2","status":"publish","type":"post","link":"https:\/\/www.millicozum.com\/mc\/2017\/mart-2017\/varlik-fonu-mu-iflas-oyunu-mu\/","title":{"rendered":"VARLIK FONU MU, \u0130FLAS OYUNU MU?"},"content":{"rendered":"\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"><span style=\"font-size: 14pt;\">Devletin k\u0131ymetli varl\u0131klar\u0131, yeni bor&ccedil;lanmalara teminat m\u0131 olacakt\u0131?<\/span> <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Ge&ccedil;ti\u011fimiz g&uuml;n Ziraat Bankas\u0131, Halkbank, BOTA\u015e, T&uuml;rkiye Petrolleri AO, PTT, T&uuml;rk Hava yollar\u0131, Borsa \u0130stanbul ve T&uuml;rksat&rsquo;\u0131n sermayelerinde bulunan Hazine&rsquo;ye ait hisselerin tamam\u0131, T&uuml;rk Telekom&rsquo;un da y&uuml;zde 6.68 oran\u0131ndaki Hazine&rsquo;ye ait hissesi ile Eti Maden ve &Ccedil;aykur&rsquo;un T&uuml;rkiye Varl\u0131k Fonu&rsquo;na &nbsp;aktar\u0131ld\u0131. Ard\u0131ndan THY&rsquo;nin y&uuml;zde 49.12, Halkbank&rsquo;\u0131n da y&uuml;zde 51.11 hissesinin Varl\u0131k Fonu&rsquo;na devri kararla\u015ft\u0131r\u0131ld\u0131. Uzmanlara g&ouml;re ise Varl\u0131k Fonu, halihaz\u0131rda g&uuml;&ccedil;le\u015fen d\u0131\u015f bor&ccedil;lanmada &ldquo;teminat&rdquo; olarak kullan\u0131lacakt\u0131. Resmi Gazete&rsquo;nin m&uuml;kerrer say\u0131s\u0131nda da Ziraat Bankas\u0131, BOTA\u015e, T&uuml;rkiye Petrolleri AO, PTT, Borsa \u0130stanbul ve T&uuml;rksat&rsquo;\u0131n sermayelerinde bulunan Hazine&rsquo;ye ait hisselerin tamam\u0131, T&uuml;rk Telekom&rsquo;un y&uuml;zde 6.68 oran\u0131ndaki Hazine&rsquo;ye ait hissesi ile Eti Maden ve &Ccedil;aykur&rsquo;un TVF&rsquo;ye aktar\u0131lmas\u0131na karar verildi\u011fi belirtilmi\u015fti. &Ouml;te yandan Bakanlar Kurulunca Savunma Sanayii Destekleme Fonuna ait veya bu fonun tasarrufunda bulunan 3 milyar Lira tutar\u0131ndaki kayna\u011f\u0131n en ge&ccedil; aktar\u0131m tarihini izleyen 3 ay i&ccedil;inde geri &ouml;denmek kayd\u0131yla Varl\u0131k Fonuna aktar\u0131lmas\u0131 kararla\u015ft\u0131r\u0131lm\u0131\u015ft\u0131. <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">T&uuml;rkiye Varl\u0131k Fonu <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">26 A\u011fustos 2016&rsquo;da yap\u0131land\u0131r\u0131ld\u0131. &Ouml;zelle\u015ftirme \u0130daresi Ba\u015fkan\u0131 Mehmet Bostan, T&uuml;rkiye Varl\u0131k Fonu Y&ouml;netimi A\u015e Genel M&uuml;d&uuml;rl&uuml;\u011f&uuml;ne ve Y&ouml;netim Kurulu Ba\u015fkanl\u0131\u011f\u0131na atan\u0131rken, y&ouml;netim kurulu &uuml;yeliklerine Yi\u011fit Bulut, Kerem Alkin, Himmet Karada\u011f ve Oral Erdo\u011fan atanm\u0131\u015ft\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&nbsp;<strong>As\u0131l Amac\u0131 &ldquo;Bor&ccedil;&rdquo; Teminine \u0130potek Olu\u015fturmakt\u0131.<\/strong><\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Ba\u015fbakanl\u0131k&rsquo;a ba\u011fl\u0131 olan T&uuml;rkiye Varl\u0131k Fonu Anonim \u015eirketi&rsquo;nin ana faaliyet konusu; s&ouml;zde fonlar\u0131n kurulmas\u0131 ve y&ouml;netimi olan sermaye piyasalar\u0131nda ara&ccedil; &ccedil;e\u015fitlili\u011fi ve derinli\u011fine katk\u0131 sa\u011flamak, yurt i&ccedil;inde kamuya ait varl\u0131klar\u0131 ekonomiye kazand\u0131rmak, d\u0131\u015f kaynak temin etmek, stratejik, b&uuml;y&uuml;k &ouml;l&ccedil;ekli yat\u0131r\u0131mlara kat\u0131lmakt\u0131. Oysa ger&ccedil;ekte Kamu kurum ve kurulu\u015flar\u0131n\u0131n kaynaklar\u0131n\u0131n topland\u0131\u011f\u0131, bor&ccedil;lanmas\u0131nda devlete ait varl\u0131klar\u0131n teminat g&ouml;sterildi\u011fi Varl\u0131k Fonu, &ouml;zelle\u015ftirmeler ile kamuya ait varl\u0131klardan, i\u015f&ccedil;ilerden al\u0131nacak zorunlu emeklilik kesintilerinden, i\u015fsizler i&ccedil;in toplanan i\u015fsizlik fonundan finanse edilece\u011fi konu\u015fulmaktayd\u0131. H&uuml;k&uuml;met, &ccedil;ok say\u0131da projeye al\u0131m garantisi, ge&ccedil;i\u015f taahh&uuml;d&uuml; gibi b&uuml;y&uuml;k g&uuml;venceler sa\u011flam\u0131\u015ft\u0131. Sadece 3. k&ouml;pr&uuml;den taahh&uuml;t edilenler Hazine&rsquo;ye b&uuml;y&uuml;k zarara yol a&ccedil;m\u0131\u015ft\u0131. &Ouml;rne\u011fin, Osmangazi K&ouml;pr&uuml;s&uuml;. Devletin g&uuml;nl&uuml;k 40 bin ge&ccedil;i\u015f garantisi verdi\u011fi k&ouml;pr&uuml;y&uuml; kullananlar\u0131n say\u0131s\u0131 bu rakam\u0131n ancak d&ouml;rtte birinde kalm\u0131\u015ft\u0131. G&uuml;nde 40 bin arac\u0131n alt\u0131ndaki her ge&ccedil;i\u015f T&uuml;rkiye&rsquo;nin zarar\u0131na; devlet aradaki bu fark\u0131 15 Temmuz 2035&rsquo;e kadar y&uuml;klenici firmaya &ouml;demek zorundayd\u0131. &Ouml;yle ki k&ouml;pr&uuml;n&uuml;n iki haftal\u0131k zarar\u0131 T&uuml;rkiye&rsquo;ye 20 milyon Dolara patlam\u0131\u015ft\u0131. \u0130\u015fte Varl\u0131k Fonu, bu b&uuml;y&uuml;k tazminatlar\u0131 kar\u015f\u0131layacak bir b&uuml;y&uuml;k kaynak olacak, daha do\u011frusu d\u0131\u015f bor&ccedil;lara ipotek say\u0131lacakt\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">T&uuml;rkiye Varl\u0131k Fonu ile asl\u0131nda denetim d\u0131\u015f\u0131 paralel bir b&uuml;t&ccedil;e kurulmaktayd\u0131. Fon&rsquo;a tahvil ihrac\u0131 yetkisi de sa\u011flanm\u0131\u015ft\u0131, bu yetkiyle fon bor&ccedil;lanmada Hazine ile yar\u0131\u015facakt\u0131. T&uuml;rkiye&rsquo;deki Varl\u0131k Fonu&rsquo;nun di\u011fer &uuml;lkelerde bulunan ulusal varl\u0131k fonlar\u0131 ile isim benzerli\u011fi d\u0131\u015f\u0131nda hi&ccedil;bir benzerli\u011fi bulunmamaktayd\u0131. Di\u011fer &uuml;lkelerdeki varl\u0131k fonlar\u0131, genellikle cari fazla &uuml;reten veya emtia geliri olan petrol &uuml;reticisi &uuml;lkelerin (petrol, do\u011falgaz ihracat&ccedil;\u0131lar\u0131), bu kalemlerden sa\u011flad\u0131klar\u0131 d&ouml;viz rezervlerindeki art\u0131\u015f\u0131 de\u011ferlendirmek ad\u0131na i\u015flettikleri fonlard\u0131. Kamu birikimlerini daha korunakl\u0131 yerlerde de\u011ferlendirmek i&ccedil;in kurulmu\u015flard\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&ldquo;Kamu Kurulu\u015flar\u0131n\u0131n Haz\u0131r Sermayesini Kullan\u0131p Harcayacaklard\u0131!&rdquo;<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;Varl\u0131k Fonu<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">, Norve&ccedil;, Suudi Arabistan, Katar gibi d&ouml;viz fazlas\u0131 olan &uuml;lkelerin fazla d&ouml;vizlerini kullanmak i&ccedil;in hayata ge&ccedil;irdi\u011fi bir yap\u0131yd\u0131. T&uuml;rkiye&rsquo;de ise bunun tam tersi yap\u0131lmaktayd\u0131. &Ccedil;&uuml;nk&uuml; T&uuml;rkiye&rsquo;de d&ouml;viz a&ccedil;\u0131\u011f\u0131 vard\u0131, cari a&ccedil;\u0131k vard\u0131. Yani, Varl\u0131k Fonu T&uuml;rkiye&rsquo;de yeni d\u0131\u015f bor&ccedil; bulmak i&ccedil;in Milli varl\u0131klar\u0131m\u0131z\u0131n ve kazan\u0131mlar\u0131m\u0131z\u0131n rehin b\u0131rak\u0131lmas\u0131yd\u0131. T&uuml;rkiye&rsquo;nin yabanc\u0131 &uuml;lkelerden bor&ccedil; almas\u0131 &ccedil;ok zorla\u015fm\u0131\u015f, \u015fartlar\u0131 a\u011f\u0131rla\u015fm\u0131\u015ft\u0131. Varl\u0131k Fonu bu y&uuml;zden olu\u015fturularak, Ziraat Bankas\u0131, &Ccedil;aykur gibi kamu kurulu\u015flar\u0131n\u0131n varl\u0131klar\u0131 sermaye olarak g&ouml;sterilecek ve yeni faizli bor&ccedil; al\u0131nacakt\u0131. Geli\u015fig&uuml;zel hayata ge&ccedil;irilen ve zarar eden projeler de bu kamu kurulu\u015flar\u0131n\u0131n sermayesini kullan\u0131p bat\u0131racakt\u0131. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Bu uygulamalar\u0131n\u0131n ge&ccedil;mi\u015fi de berbatt\u0131r. ANAP d&ouml;neminde fiyasko ile sonu&ccedil;lanm\u0131\u015ft\u0131r. Fon prati\u011fi \u015faibeli olan kesintilerin k&ouml;t&uuml; kullan\u0131ld\u0131\u011f\u0131 bir aland\u0131r. Yine fiyasko olacakt\u0131r, &ccedil;&uuml;nk&uuml; Varl\u0131k Fonu&rsquo;na, hazine gibi i&ccedil; ve d\u0131\u015f bor&ccedil;lanma yetkisi tan\u0131nm\u0131\u015ft\u0131r. Bor&ccedil;lanman\u0131n bu &uuml;lkeyi ne hale getirdi\u011fi ortadad\u0131r. Varl\u0131\u011f\u0131 olmayan bir &uuml;lke, bor&ccedil;lar\u0131 &ouml;deyemedi\u011finde ne yapacak, kurumlar\u0131 rehin b\u0131rak\u0131p ayakta kalmaya &ccedil;al\u0131\u015facakt\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> Varl\u0131k Fonu&rsquo;nun hi&ccedil;bir ciddi gerek&ccedil;esi yoktur, hedefi yoktur, bu y&uuml;zden sonucu da olmayacakt\u0131r. &Ccedil;&uuml;nk&uuml; Varl\u0131k Fonu \u015f&ouml;yle &uuml;lkelerde i\u015fe yarar. &Uuml;lkenin fazla kayna\u011f\u0131 vard\u0131r ve bu fazla kaynak varl\u0131k fonuyla gelece\u011fe aktar\u0131l\u0131r. Ama T&uuml;rkiye&rsquo;de cari a&ccedil;\u0131k vard\u0131r, tasarruf zay\u0131ft\u0131r. K&acirc;rlar\u0131n\u0131 ve vergilerini b&uuml;t&ccedil;eye veren kamu kurulu\u015flar\u0131n\u0131n b&uuml;t&ccedil;eye faydas\u0131 vard\u0131r. Kurulu\u015flar\u0131n k&acirc;rlar\u0131n\u0131 ve vergilerini b&uuml;t&ccedil;eye aktarmay\u0131p fona aktar\u0131lacaksa b&uuml;t&ccedil;e a&ccedil;\u0131\u011f\u0131m\u0131z daha da artacakt\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"><\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Bir&ccedil;ok insan\u0131m\u0131z; <\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">Varl\u0131k Fonu <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">nedir? Sorusunun cevab\u0131n\u0131 ararken, fonun genel olarak tan\u0131m\u0131 ve amac\u0131 &uuml;zerine kapsaml\u0131 bir yorum ihtiyac\u0131yla bu yaz\u0131 haz\u0131rlanm\u0131\u015ft\u0131r. B&uuml;y&uuml;k kurumsal firmalar\u0131n bu fona aktar\u0131lmas\u0131ndan sonra insanlar\u0131n en &ccedil;ok merak etti\u011fi sorular cevaplanm\u0131\u015ft\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: 'Arial',sans-serif;\">FON&rsquo;un anlam\u0131: <\/span><\/strong><strong><span style=\"font-family: 'Arial',sans-serif;\">Fonlar,&nbsp;de\u011fi\u015fik finansal varl\u0131klara yat\u0131r\u0131m imkan\u0131 haz\u0131rlamak, yat\u0131r\u0131mlar &uuml;zerinden gelir sa\u011flamak ve o hedefi tutturmak ve bu i\u015flemleri devlet garantisinde yapmak do\u011frultusunda yap\u0131lan ekonomik icraatlard\u0131r. Bu fonun amac\u0131 bir &uuml;lkede &ldquo;b&uuml;t&ccedil;e fazlal\u0131\u011f\u0131&rdquo; varsa,&nbsp;b&uuml;t&ccedil;e fazlas\u0131 geliri bu fon &uuml;zerinden i\u015fleme sokmakt\u0131r. &Uuml;lkede b&uuml;t&ccedil;e fazlal\u0131\u011f\u0131 oldu\u011funda ve bu fona yat\u0131r\u0131ld\u0131\u011f\u0131nda olu\u015fan i\u015flemler \u015funlard\u0131r:<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&bull;<\/span><\/strong><strong><span style=\"font-family: 'Arial',sans-serif;\"> Harcamalar\u0131n artmas\u0131.<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&bull;<\/span><\/strong><strong><span style=\"font-family: 'Arial',sans-serif;\"> Var olan vergi y&uuml;k&uuml;n&uuml;n azalt\u0131lmas\u0131.<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&bull;<\/span><\/strong><strong><span style=\"font-family: 'Arial',sans-serif;\"> Devlet borcu oldu\u011funda o borcun erken kapat\u0131lmas\u0131.<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&bull;<\/span><\/strong><strong><span style=\"font-family: 'Arial',sans-serif;\"> Gelece\u011fe dair &ldquo;refah ortam\u0131&rdquo; olu\u015fmas\u0131n\u0131n temellerinin at\u0131lmas\u0131.<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Oysa T&uuml;rkiye&rsquo;de b&uuml;t&uuml;n bunlar\u0131n tam tersi ya\u015fan\u0131rken olu\u015fturulan, VARLIK FONU, yoksa gizli ve kirli bir oyunun par&ccedil;as\u0131 m\u0131yd\u0131? <\/span><\/strong><strong><span style=\"font-family: 'Arial',sans-serif;\">Bu t&uuml;r fonlar asl\u0131nda \u015funlar\u0131 ama&ccedil;lard\u0131:<\/span><\/strong><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: 'Arial',sans-serif;\">Bu fon devlet taraf\u0131ndan kuruldu\u011funda genelde iki ama&ccedil; ta\u015f\u0131rd\u0131. 1- &Uuml;lkedeki ekonomik dengelerin k&ouml;t&uuml; etkilerden korunmas\u0131 ve 2- Gelece\u011fe dair ekonomik bazda ferahl\u0131k ve rahatl\u0131k sa\u011flanmas\u0131. Bu durumda risklerin y&uuml;ksek olmas\u0131 zorunlulu\u011fu vard\u0131r.<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: 'Arial',sans-serif;\">Fonun kurulmas\u0131n\u0131n temel amac\u0131: <\/span><\/strong>Ekonomi literat&uuml;r&uuml;nde fonun olu\u015fmas\u0131ndaki temel sebep <\/span><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&ldquo;devletin elinde olu\u015fan gelir fazlal\u0131\u011f\u0131&rdquo;<\/span><\/strong><span style=\"font-family: 'Arial',sans-serif; font-size: 12pt;\">d\u0131r. Mahfi E\u011filmez&rsquo;e g&ouml;re gelir fazlal\u0131\u011f\u0131ndan olu\u015fan fonlar iki \u015fekilde kurulmaktad\u0131r.&nbsp;<strong>1- Bir veya birden fazla emtiaya dayal\u0131 fonlar: <\/strong>Bunlar genellikle ihra&ccedil; edilen emtian\u0131n gelirleri nedeniyle olu\u015fan b&uuml;t&ccedil;e fazlalar\u0131ndan olu\u015fmaktad\u0131r. Tipik &ouml;rnekleri k&ouml;rfez &uuml;lkelerinin kurduklar\u0131 fonlard\u0131r. Bu fonlar\u0131n &ccedil;o\u011fu ihra&ccedil; edilen petrolden sa\u011flanan gelirlere dayanmaktad\u0131r. Norve&ccedil;&rsquo;in kurdu\u011fu emeklilik fonu da benzer \u015fekilde Kuzey Denizinden elde edilen petrol gelirlerinin yaratt\u0131\u011f\u0131 b&uuml;t&ccedil;e fazlas\u0131n\u0131 gelecek ku\u015faklara aktarmay\u0131 ama&ccedil;lamaktad\u0131r. <strong>2- Bir emtiaya dayal\u0131 olmayan fonlar:<\/strong> Bunlar ya D\u0131\u015f ticaret fazlalar\u0131 ile ya da emeklilik fonlar\u0131nda biriken paralarla olu\u015fturulmaktad\u0131r. Bu t&uuml;r fonlar\u0131n tipik &ouml;rnekleri &Ccedil;in, Kore ve Hong Kong gibi &uuml;lkelerin kurduklar\u0131 varl\u0131k fonlar\u0131d\u0131r. ABD&rsquo;nin her iki &ouml;rne\u011fe de giren birden fazla fon bulunmaktad\u0131r.&nbsp;Ve tamam\u0131na yak\u0131n\u0131 Siyonist sermayenin kontrol&uuml; alt\u0131ndad\u0131r.<\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: 'Arial',sans-serif;\">T&uuml;rkiye&rsquo;de bu fona devredilen devlet varl\u0131klar\u0131 ve kurumlar\u0131?<\/span><\/strong><\/span><\/p>\n<p style=\"margin-top: 0cm; margin-right: 0cm; margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt;\"><strong><span style=\"font-family: 'Arial',sans-serif;\">Ba\u015fbakan Binali Y\u0131ld\u0131r\u0131m ve Bakanlar Kurulu&rsquo;nun onay\u0131yla T&uuml;rkiye Cumhuriyet Ziraat Bankas\u0131 A\u015e, Boru Hatlar\u0131 ile Petrol Ta\u015f\u0131ma A\u015e, T&uuml;rkiye Petrolleri AO, Posta ve Telgraf Te\u015fkilat\u0131 A\u015e, Borsa \u0130stanbul A\u015e, T&uuml;rksat Uydu Haberle\u015fme Kablo TV ve \u0130\u015fletme A\u015e&#8217;nin sermayelerinde bulunan Hazineye ait hisselerin tamam\u0131, T&uuml;rk Telekom&uuml;nikasyon A\u015e&#8217;nin y&uuml;zde 6,68 oran\u0131ndaki Hazine&#8217;ye ait hissesi ile Eti Maden \u0130\u015fletmeleri Genel M&uuml;d&uuml;rl&uuml;\u011f&uuml; ve &Ccedil;ay \u0130\u015fletmeleri Genel M&uuml;d&uuml;rl&uuml;\u011f&uuml; fona aktar\u0131ld\u0131. Ard\u0131ndan THY, Halk Bankas\u0131 ve Milli Piyango da bunlara kat\u0131ld\u0131.<\/span><\/strong><\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">T&uuml;rkiye Varl\u0131k Fonunun \u0130ktisadi ve Siyasi Risk alanlar\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">T&uuml;rkiye Varl\u0131k Fonunu bir b&uuml;t&uuml;n olarak de\u011ferlendirdi\u011fimizde, Ba\u015fbakan\u0131n y&ouml;netiminde, a\u015f\u0131r\u0131 yetkilerle donat\u0131lm\u0131\u015f, &ouml;zel hukuk ve kamu hukuku a&ccedil;\u0131s\u0131ndan bir&ccedil;ok kanuna tabi olmayan ayr\u0131cal\u0131kl\u0131 bir \u015firket olarak yap\u0131land\u0131r\u0131ld\u0131\u011f\u0131 anla\u015f\u0131lmaktad\u0131r. Bu \u015firketin yurti&ccedil;i ve yurtd\u0131\u015f\u0131ndaki para ve sermaye piyasalar\u0131nda her t&uuml;rl&uuml; i\u015flemi yapabilmesi, s\u0131n\u0131rs\u0131zca bor&ccedil;lanabilmesi ve yapt\u0131\u011f\u0131 i\u015flemlerin esas olarak &ouml;zel firmalardaki denetim usullerine g&ouml;re denetlenmesi kafalar\u0131 kar\u0131\u015ft\u0131rmaktad\u0131r. Fakat her ne kadar &ouml;zel bir \u015firket gibi yap\u0131land\u0131r\u0131lm\u0131\u015f olsa da devlet sahipli\u011finde olmas\u0131 ve kamusal kaynaklar\u0131 kullanmas\u0131 bak\u0131m\u0131ndan di\u011fer UVF&rsquo;lerde (Ulusal Varl\u0131k Fonu) oldu\u011fu gibi TVF (T&uuml;rkiye Varl\u0131k Fonu) da hem &ouml;zel hem kamusal bir kurum olarak siyasi ve kurumsal riski bir arada ta\u015f\u0131maktad\u0131r. Siyasi bir kriz, \u015firketin zarar etmesi ve iflas\u0131yla sonu&ccedil;lanabilece\u011fi gibi \u015firketin zarar etmesi veya burada ortaya &ccedil;\u0131kan yolsuzluklar da bir siyasi krize yol a&ccedil;acakt\u0131r. Bu nedenle TVF&rsquo;nin (T&uuml;rkiye Varl\u0131k Fonu&#8217;nun) kurulu\u015f ama&ccedil;lar\u0131 ve yap\u0131s\u0131 &uuml;zerine derinlemesine bir de\u011ferlendirme[1] yap\u0131ld\u0131\u011f\u0131nda me\u015fruiyeti, \u015feffafl\u0131\u011f\u0131, hesap verebilirli\u011fi, yurti&ccedil;i kurumlarla koordinasyonu ve mali disiplini konular\u0131nda kapal\u0131 ve karanl\u0131k, noktalar bulundu\u011fu ortaya &ccedil;\u0131kmaktad\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Yukar\u0131da s&ouml;z edilen siyasi ve kurumsal riskler b&uuml;t&uuml;n UVF&rsquo;ler i&ccedil;in ge&ccedil;erli olmakla beraber, T&uuml;rkiye Varl\u0131k Fonu, a\u015f\u0131r\u0131 yetkilerle donat\u0131lm\u0131\u015f, ama&ccedil;lar\u0131 a&ccedil;\u0131k&ccedil;a tan\u0131mlanmam\u0131\u015f, Merkez Bankas\u0131 ve Hazine gibi kurumlarla koordinasyonu sa\u011flanmam\u0131\u015f, yurti&ccedil;inden kaynak toplayacak ve yurti&ccedil;ine yat\u0131r\u0131m yapacak bir kurum olarak &ccedil;ok daha b&uuml;y&uuml;k riskleri i&ccedil;erisinde bar\u0131nd\u0131rmaktad\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Birincisi<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">, T&uuml;rkiye Varl\u0131k Fonunun ama&ccedil;lar\u0131n\u0131n a&ccedil;\u0131k&ccedil;a tan\u0131mlanmam\u0131\u015f olmas\u0131, fonun izleyece\u011fi yat\u0131r\u0131m stratejisinin izlenmesini de olanaks\u0131z k\u0131lmaktad\u0131r. Oysa b&uuml;y&uuml;k bir kayna\u011f\u0131n teslim edilece\u011fi bu \u015firketin kaynaklar\u0131n\u0131 amaca uygun bir \u015fekilde kullan\u0131p kullanmad\u0131\u011f\u0131n\u0131n, &uuml;lkenin genel &ccedil;\u0131karlar\u0131 ve iktisat politikas\u0131yla uyumlu &ccedil;al\u0131\u015f\u0131p &ccedil;al\u0131\u015fmad\u0131\u011f\u0131n\u0131n izlenmesi sadece \u015firketin sahibi olan devlet yetkililerine kar\u015f\u0131 de\u011fil, ayn\u0131 zamanda fona kaynak sa\u011flayan vatanda\u015flara kar\u015f\u0131 da bir sorumluluktur. Ama&ccedil;lar\u0131n a&ccedil;\u0131k&ccedil;a tan\u0131mlanmad\u0131\u011f\u0131 bir fonda hesap verebilirlik, \u015feffafl\u0131k ve fonun me\u015fruiyeti sekteye u\u011frayacak, yolsuzluk riski artacakt\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">\u0130kincisi,<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> TVF bu yap\u0131s\u0131yla &ouml;nemli iktisadi riskleri b&uuml;nyesinde bar\u0131nd\u0131rmaktad\u0131r. Kanunun o gerek&ccedil;esini ve TVF&rsquo;nin kaynaklar\u0131n\u0131 daha yak\u0131ndan inceledi\u011fimizde as\u0131l amac\u0131n\u0131n en genel ifadeyle yeni gelir kaynaklar\u0131 olu\u015fturmak oldu\u011fu anla\u015f\u0131lmaktad\u0131r. TVF&rsquo;nin, iki temel gelir kayna\u011f\u0131ndan birisi mevcut ekonomiyi bor&ccedil; bata\u011f\u0131ndan ve t\u0131kanma noktas\u0131ndan kurtarmak &uuml;zere gelir ve gayrimenkuller &uuml;zerinden hisse senedi paylar\u0131, ikincisi <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">ulusal ve uluslararas\u0131 piyasalardan bor&ccedil;lanmas\u0131d\u0131r<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">. TVF&rsquo;nin hem gelir kaynaklar\u0131n\u0131, hem yat\u0131r\u0131m alanlar\u0131n\u0131 dayand\u0131rd\u0131\u011f\u0131 t&uuml;rev &uuml;r&uuml;nlerine ba\u011fl\u0131 yap\u0131s\u0131 son derece k\u0131r\u0131lgan ve karma\u015f\u0131kt\u0131r. Di\u011fer &uuml;lke &ouml;rneklerinde UVF&rsquo;lerin temel stratejisi riski da\u011f\u0131tarak uzun vadeli getiri sa\u011flamak i&ccedil;in &uuml;lke i&ccedil;i risklerin tersine hareket edecek yurtd\u0131\u015f\u0131 alanlara y&ouml;nelmek olmas\u0131na ra\u011fmen T&uuml;rkiye&rsquo;de bunun tam aksi yap\u0131lmakta, zaten riskli olan yurti&ccedil;i uzun vadeli yat\u0131r\u0131mlara y&ouml;nelik t&uuml;rev &uuml;r&uuml;nler &ccedil;\u0131kart\u0131lmas\u0131 planlanmaktad\u0131r. Bu k&acirc;\u011f\u0131tlar\u0131n de\u011ferinde ortaya &ccedil;\u0131kabilecek ani bir d&uuml;\u015f&uuml;\u015f&uuml;n &uuml;lke ekonomisine ve s&ouml;z&uuml; ge&ccedil;en projelere zarar\u0131n\u0131n yan\u0131nda, &uuml;lke ekonomisinde &ccedil;\u0131kabilecek bir krizin bu ka\u011f\u0131tlar\u0131n de\u011ferine yans\u0131mas\u0131 ve<\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\"> genel bir \u0130FLAS&rsquo;a yol a&ccedil;mas\u0131 <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">ka&ccedil;\u0131n\u0131lmazd\u0131r. Ayr\u0131ca d&uuml;nyada halen ya\u015fanmakta olan iktisadi krizin ortaya &ccedil;\u0131k\u0131\u015f\u0131ndaki en &ouml;nemli nedenin bu t&uuml;r t&uuml;rev &uuml;r&uuml;nler oldu\u011fu da unutulmamal\u0131d\u0131r.[2]<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">As\u0131l temel risk kayna\u011f\u0131n\u0131 ise, fona verilen s\u0131n\u0131rs\u0131z bor&ccedil;lanma yetkisi olu\u015fturmaktad\u0131r. T&uuml;rkiye Varl\u0131k Fonu&rsquo;nun 4749 say\u0131l\u0131 Bor&ccedil; Y&ouml;netiminin D&uuml;zenlenmesi Hakk\u0131nda Kanunun kapsam\u0131 d\u0131\u015f\u0131na &ccedil;\u0131kar\u0131lmas\u0131 ve Hazine M&uuml;ste\u015farl\u0131\u011f\u0131na verilen bor&ccedil;lanma yetkisi ile hi&ccedil;bir ba\u011flant\u0131 kurulmamas\u0131, tek elden y&uuml;r&uuml;t&uuml;len bor&ccedil; y&ouml;netiminin temel ilkesinin sekteye u\u011framas\u0131 anlam\u0131n\u0131 ta\u015f\u0131maktad\u0131r. &Uuml;stelik, TVF&rsquo;nin uluslararas\u0131 kredi derecelendirme kurulu\u015flar\u0131ndan alaca\u011f\u0131 puan\u0131n en iyi ihtimalle &uuml;lke puan\u0131yla ayn\u0131 olmas\u0131 durumunda bile TVF&rsquo;nin, yurtd\u0131\u015f\u0131 bor&ccedil;lanmalarda Hazine ile rekabet edebilmesi m&uuml;mk&uuml;n olmayacak, ancak daha y&uuml;ksek faizli ve daha k\u0131sa vadeli bor&ccedil;lanabilmesi m&uuml;mk&uuml;n olacakt\u0131r. Bu ise &uuml;lkenin genel bor&ccedil; y&uuml;k&uuml;n&uuml;n artmas\u0131na yol a&ccedil;arak ekonominin k\u0131r\u0131lganl\u0131\u011f\u0131n\u0131 art\u0131racakt\u0131r. Bir ba\u015fka &ouml;nemli nokta, mali disiplinle ilgili olarak ortaya &ccedil;\u0131kabilecek sorunlard\u0131r. Bir yandan kamu kurumlar\u0131n\u0131n mevcut fonlar\u0131 TVF&rsquo;ye aktar\u0131laca\u011f\u0131 i&ccedil;in b&uuml;t&ccedil;e gelirlerinde bir azalma ortaya &ccedil;\u0131kmas\u0131, bir yandan da y&uuml;ksek maliyetli ve s\u0131n\u0131rs\u0131z bor&ccedil;lanmayla bor&ccedil; y&uuml;k&uuml;n&uuml;n artmas\u0131 ihtimali y&uuml;ksek bulunmaktad\u0131r. TVF&rsquo;nin gelirleri ve harcamalar\u0131 &ouml;zel \u015firket stat&uuml;s&uuml; nedeniyle kamu hesaplar\u0131na girmeyece\u011fi gibi kamu hesaplar\u0131na konsolide edilmesi de m&uuml;mk&uuml;n olmayacakt\u0131r. B&uuml;t&uuml;n bunlara ek olarak Hazine M&uuml;ste\u015farl\u0131\u011f\u0131n\u0131n y&ouml;netti\u011fi bor&ccedil;lanma i\u015flemlerini ve Merkez Bankas\u0131n\u0131n y&ouml;netti\u011fi para piyasas\u0131 i\u015flemlerini etkileyecek olan TVF&rsquo;ye bir&ccedil;ok konuda yetki verilmi\u015f ve muafiyet tan\u0131nm\u0131\u015f, fakat bu kurumlar aras\u0131nda bir koordinasyon mekanizmas\u0131 tan\u0131mlanmam\u0131\u015ft\u0131r. Bu durum, hazinenin birli\u011fi ilkesine ayk\u0131r\u0131l\u0131k olu\u015fturmakta,<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> <\/span><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">TVF ile bir t&uuml;r paralel Hazine kurulaca\u011f\u0131 ve bunun Cumhurba\u015fkan\u0131 taraf\u0131ndan denetimsiz kullan\u0131laca\u011f\u0131 <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">y&ouml;n&uuml;nde kayg\u0131lar uyand\u0131rmakta, mali disiplin ve iktisat politikalar\u0131n\u0131n koordinasyonu a&ccedil;\u0131s\u0131ndan &ouml;nemli riskler do\u011furmaktad\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&Ouml;zetle, son derece geni\u015f yetkilerle donat\u0131lm\u0131\u015f olan TVF, yap\u0131s\u0131, kaynaklar\u0131 ve planlanan faaliyet alanlar\u0131 a&ccedil;\u0131s\u0131ndan bak\u0131ld\u0131\u011f\u0131nda bir yolsuzluk riskini de bar\u0131nd\u0131rmaktad\u0131r. T&uuml;rkiye Varl\u0131k Fonunun benze\u015fti\u011fi Ulusal Kalk\u0131nma Fonlar\u0131nda yolsuzluk yapma ihtimalinin daha y&uuml;ksek oldu\u011fu bilinmektedir. Kalk\u0131nma fonlar\u0131n\u0131n yurt i&ccedil;indeki \u015firketlere uygun olmayan yat\u0131r\u0131mlar yapmas\u0131 ve rant kollama faaliyetlerine a&ccedil;\u0131k olmas\u0131 bunun en temel nedenleri say\u0131lmaktad\u0131r. Ayr\u0131ca fonun k&ouml;t&uuml;ye kullan\u0131lmas\u0131 &ouml;rnekleri olduk&ccedil;a fazlad\u0131r. En basit \u015fekliyle UVF&rsquo;ler oy sat\u0131n almak ve yanda\u015flar\u0131 palazland\u0131rmak i&ccedil;in ve siyasi patronaj i&ccedil;in kullan\u0131lmaktad\u0131r. Bunun en bilinen &ouml;rne\u011fi, Malezya&rsquo;n\u0131n 1MDB adl\u0131 Kalk\u0131nma Fonu ile ilgili olarak ortaya &ccedil;\u0131kan skandald\u0131r. Malezya Ba\u015fbakan\u0131n\u0131n, bu fondan milyonlarca Dolar\u0131 se&ccedil;im kampanyalar\u0131nda kulland\u0131\u011f\u0131, ki\u015fisel hesab\u0131na ve yak\u0131nlar\u0131n\u0131n hesab\u0131na b&uuml;y&uuml;k miktarda paralar aktard\u0131\u011f\u0131 resmiyet kazanm\u0131\u015ft\u0131r.[3] Bu fonun 13 milyar Dolar zarara u\u011frad\u0131\u011f\u0131, bu d&ouml;nemde fonun &uuml;st d&uuml;zey yetkililerinin 4 milyar Dolardan fazla bir miktar\u0131 zimmetlerine aktar\u0131ld\u0131\u011f\u0131 ve bir &ccedil;ok &uuml;lkede elde edilen bu paralar\u0131n kara para aklamak suretiyle harcand\u0131\u011f\u0131 saptanm\u0131\u015ft\u0131r. Bu fonla ilgili olarak halen 10 ayr\u0131 &uuml;lkede soru\u015fturma yap\u0131lmakta, kara para aklama iddias\u0131na konu olan kurumlar kapat\u0131lmaktad\u0131r. Ba\u015fta da belirtti\u011fimiz gibi \u015firketin riskleriyle siyasi risklerin i&ccedil; i&ccedil;e girdi\u011fi bir yap\u0131da ortaya &ccedil;\u0131kacak bir yolsuzlu\u011fun iktisadi ve siyasi bir kriz do\u011furmas\u0131 da ka&ccedil;\u0131n\u0131lmazd\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Velhas\u0131l<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">; T&uuml;rkiye Varl\u0131k Fonu, tasarruf ve d&ouml;viz fazlas\u0131n\u0131 de\u011ferlendirmek &uuml;zere kurulan Ulusal Varl\u0131k Fonlar\u0131 a&ccedil;\u0131s\u0131ndan bak\u0131ld\u0131\u011f\u0131nda geleneksel varl\u0131k fonlar\u0131ndan &ccedil;ok ayr\u0131 bir yerde durmaktad\u0131r. Hem cari a&ccedil;\u0131k hem de b&uuml;t&ccedil;e a&ccedil;\u0131\u011f\u0131 veren bir &uuml;lke olarak T&uuml;rkiye&rsquo;nin zaten de\u011ferlendirece\u011fi bir<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> <\/span><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">tasarruf fazlas\u0131<\/span><\/strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\"> <\/span><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">bulunmamaktad\u0131r. Ayr\u0131ca burada da ba\u015fka bir sorun daha kar\u015f\u0131m\u0131za &ccedil;\u0131kmaktad\u0131r. TVF&rsquo;nin ama&ccedil;lar\u0131 a&ccedil;\u0131s\u0131ndan bir inceleme yapt\u0131\u011f\u0131m\u0131zda birbiriyle &ccedil;eli\u015febilecek &ccedil;ok say\u0131da amac\u0131n s\u0131raland\u0131\u011f\u0131 ve istikrar, \u0130slami finansal ara&ccedil;lar\u0131n artt\u0131r\u0131lmas\u0131 gibi konular\u0131n da fonun ama&ccedil;lar\u0131 aras\u0131nda yer ald\u0131\u011f\u0131 anla\u015f\u0131lmaktad\u0131r. Bu nedenle TVF&rsquo;nin geleneksel Ulusal Varl\u0131k Fonlar\u0131ndan birisi olmad\u0131\u011f\u0131n\u0131 s&ouml;ylemek laz\u0131md\u0131r. T&uuml;rkiye Varl\u0131k Fonunun kurulu\u015fundaki ger&ccedil;ek ama&ccedil;, fonun kaynaklar\u0131 ve kanunun gerek&ccedil;esindeki ama&ccedil;lar dikkatle incelendi\u011finde ortaya &ccedil;\u0131kmaktad\u0131r: Bunlar: Kamuya ait arazilerin, yollar\u0131n, k&ouml;pr&uuml;lerin gelirlerinin ve m&uuml;mk&uuml;n oldu\u011fu &ouml;l&ccedil;&uuml;de bunlar\u0131n m&uuml;lkiyetlerinin sat\u0131\u015f\u0131 yoluyla gelir sa\u011flamakt\u0131r. Fonun ger&ccedil;ek amac\u0131n\u0131 bu \u015fekilde ortaya koydu\u011fumuzda fonun ama&ccedil;lar\u0131ndaki karma\u015fa ortadan kalkmakta, ara&ccedil;larla ama&ccedil;lar ve finansman y&ouml;ntemlerinin birbirine kar\u0131\u015fmas\u0131 sorunu da &ccedil;&ouml;z&uuml;lm&uuml;\u015f olmaktad\u0131r. TVF, hem finansman\u0131n\u0131 hem yat\u0131r\u0131m yapaca\u011f\u0131 alanlar\u0131 kamu varl\u0131klar\u0131na ve bunlar\u0131n &uuml;zerinde yap\u0131lan otoyollar, Kanal \u0130stanbul, &Uuml;&ccedil;&uuml;nc&uuml; K&ouml;pr&uuml; ve Havaliman\u0131 gibi b&uuml;y&uuml;k projelere dayand\u0131racakt\u0131r. Zaten bizzat Ekonomi Bakan\u0131n\u0131n a\u011fz\u0131ndan ka&ccedil;\u0131rd\u0131\u011f\u0131 beyanlar\u0131yla da bunlar a&ccedil;\u0131kl\u0131\u011fa kavu\u015fmaktad\u0131r. Bo\u011faz k&ouml;pr&uuml;leriyle &uuml;&ccedil;&uuml;nc&uuml; havaliman\u0131n\u0131n gelirlerinin fon kapsam\u0131na al\u0131naca\u011f\u0131n\u0131 belirten Ekonomi Bakan\u0131 bu konuyu \u015fu \u015fekilde anlatm\u0131\u015ft\u0131r. (Sabah, 14\/10\/2016):<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> <strong><em>&ldquo;3. Havaliman\u0131 i&ccedil;in her y\u0131l Hazine&rsquo;ye 1 milyar olmak &uuml;zere 25 y\u0131lda 25 milyar Euro &ouml;denecek. Hazine&rsquo;ye diyece\u011fiz ki, bu gelirini devret. Bu gelir de uluslararas\u0131 piyasalarda sat\u0131lacak. Kanal \u0130stanbul deh\u015fet bir proje. Darphane gibi para basan k&ouml;pr&uuml; gelirlerimiz var. Bu haklar fona devredilince, ben bu geliri bug&uuml;nden 10 y\u0131ll\u0131\u011f\u0131na sataca\u011f\u0131m. Hazine&rsquo;ye de bu geliri aynen &ouml;deyece\u011fim. B&uuml;t&uuml;n gayrimenkul ve ta\u015f\u0131nmazlar\u0131 tek tek k&acirc;\u011f\u0131da &ccedil;evirece\u011fiz.&rdquo;<\/em><\/strong><\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Anla\u015f\u0131lan odur ki Varl\u0131k Fonu ifadesindeki &ldquo;varl\u0131k&rdquo;, maalesef kamu varl\u0131klar\u0131n\u0131 kapsamaktad\u0131r. Ulusal Varl\u0131k Fonlar\u0131ndaki &ldquo;wealth&rdquo; s&ouml;zc&uuml;\u011f&uuml;n&uuml;n T&uuml;rk&ccedil;e kar\u015f\u0131l\u0131\u011f\u0131 sanmak yan\u0131lt\u0131c\u0131d\u0131r. <\/span><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Erbakan Hocan\u0131n m&uuml;kemmel benzetmesiyle: AKP iktidar\u0131n\u0131n VARLIK FONU, iflas eden t&uuml;ccar\u0131n, zengin g&ouml;r&uuml;nme hevesiyle ziyafet &ccedil;ekme giri\u015fimini hat\u0131rlatmaktad\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">T&uuml;rkiye Varl\u0131k Fonu&rsquo;nun yap\u0131s\u0131, finansman kaynaklar\u0131 ve planlanan i\u015flemleri sonucunda ortaya &ccedil;\u0131kabilecek iktisadi ve siyasi riskleri derinlemesine tart\u0131\u015fmak laz\u0131md\u0131r. &Ccedil;&uuml;nk&uuml; Ulusal Varl\u0131k Fonlar\u0131 genelde petrol gibi do\u011fal kaynaklar\u0131n azalmas\u0131 veya gelecekte ortaya &ccedil;\u0131kabilecek risklere kar\u015f\u0131 gelecek ku\u015faklar\u0131n refah\u0131n\u0131n garanti alt\u0131na al\u0131nmas\u0131 &uuml;zere kurulan fonlar olmas\u0131na kar\u015f\u0131l\u0131k, T&uuml;rkiye Varl\u0131k Fonu tam tersi bir ama&ccedil;la yap\u0131land\u0131r\u0131lm\u0131\u015ft\u0131r. Kamu arazilerinin ve yeralt\u0131 kaynaklar\u0131m\u0131z\u0131n ve ge&ccedil;mi\u015f nesillerin birikimleriyle olu\u015fturulan varl\u0131klar\u0131m\u0131z\u0131n bu \u015firket eliyle finansal piyasalara aktar\u0131lmas\u0131yla gelecek nesillerin refah\u0131 hatta &uuml;lkemizin bekas\u0131 ve ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131 tehlikeye at\u0131lmaktad\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif; letter-spacing: -0.5pt;\">&Ccedil;&uuml;nk&uuml; bu Varl\u0131k Fonu oyunu, devletin kefil oldu\u011fu &Ouml;zel \u015eirketlerin borcu da dahil 800 Milyar Dolar\u0131 a\u015fan d\u0131\u015f bor&ccedil;lar\u0131m\u0131z\u0131 faizleriyle birlikte &ouml;deme s\u0131k\u0131nt\u0131s\u0131 y&uuml;z&uuml;nden T&uuml;rkiye&rsquo;ye art\u0131k kredi a&ccedil;mayan Siyonist S&ouml;m&uuml;r&uuml; Sermayesi Bankalar\u0131na elde kalan devlet varl\u0131klar\u0131n\u0131 ipotek etmenin bir k\u0131l\u0131f\u0131d\u0131r!<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif; letter-spacing: -0.5pt;\">450 Ton Alt\u0131n\u0131m\u0131z \u0130ngiltere&rsquo;ye Niye yolland\u0131?<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">D&ouml;nemin Maliye Bakan\u0131 Mehmet \u015eim\u015fek, T&uuml;rkiye&rsquo;nin 490 ton olan Alt\u0131n rezervinin 450 tonunun, \u0130ngiltere Merkez Bankas\u0131 Bank Of England&rsquo;da emanette oldu\u011funu a&ccedil;\u0131kla<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">m\u0131\u015ft<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">\u0131. Bu a&ccedil;\u0131klama, T&uuml;rkiye&rsquo;nin karma\u015f\u0131k g&uuml;ndeminde yeterince ele al\u0131nma<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">m\u0131\u015ft<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">\u0131. Hi&ccedil;bir ba\u011f\u0131ms\u0131z devlet, gelece\u011finin g&uuml;vencesi olan birikmi\u015f servetini, ba\u015fka bir devlete; bor&ccedil; vermezdi, emanetine koymazd\u0131, rehin b\u0131rakmazd\u0131.<\/span><\/strong><em><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif; letter-spacing: -0.5pt;\"> <\/span><\/em><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">T&uuml;rkiye&rsquo;de, askeri harcamalar art\u0131p d\u0131\u015f bor&ccedil; &ouml;deme s\u0131n\u0131r\u0131n\u0131 a\u015farken ve ekonomik bunal\u0131m derinle\u015firken, hazine 450 ton alt\u0131n\u0131 neden ve ne kar\u015f\u0131l\u0131\u011f\u0131 yabanc\u0131lara teslim etmek zorunda kalm\u0131\u015ft\u0131? Libya&rsquo;n\u0131n 200 milyar Dolar\u0131na el koyan Bat\u0131&rsquo;ya nas\u0131l g&uuml;ven duyulacakt\u0131? Elde kalan son devlet varl\u0131klar\u0131n\u0131, <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&ldquo;Varl\u0131k Fonu<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&rdquo; ad\u0131 alt\u0131nda elden &ccedil;\u0131kar\u0131lmas\u0131n\u0131n, alt\u0131n olay\u0131yla bir ili\u015fkisi var m\u0131yd\u0131? Sorular\u0131 hal&acirc; yan\u0131ts\u0131zd\u0131.<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif; letter-spacing: -0.5pt;\"> <\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">D&uuml;yun-u Umumiye ve ac\u0131 sonu&ccedil;lar\u0131:<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Osmanl\u0131 Devleti, ilk d\u0131\u015f borcu 1854 y\u0131l\u0131nda alm\u0131\u015f ve kendini y\u0131k\u0131ma g&ouml;t&uuml;recek bor&ccedil; sarmal\u0131na yakalanm\u0131\u015ft\u0131. Y&uuml;ksek faizle al\u0131nan bor&ccedil;lar, saray yap\u0131m\u0131 gibi t&uuml;ketim harcamalar\u0131 ya da askeri giderler i&ccedil;in kullan\u0131lm\u0131\u015ft\u0131. &Uuml;retimsizli\u011fe ba\u011fl\u0131 gelir yoksunlu\u011fu nedeniyle, al\u0131nan her bor&ccedil; yeni bir borcu gerekli k\u0131lm\u0131\u015f ve Osmanl\u0131 devleti, 1875 y\u0131l\u0131nda iflas\u0131n\u0131 ilan etmek zorunda kalm\u0131\u015ft\u0131. Alacakl\u0131lar, 1881 y\u0131l\u0131nda \u0130stanbul&rsquo;da toplanm\u0131\u015f, &uuml;st y&ouml;netimini Avrupal\u0131 devletlerin olu\u015fturdu\u011fu ve devlet gelirlerini <em>alacakl\u0131lar yarar\u0131na y&ouml;netmek <\/em>&uuml;zere <em>D&uuml;yun-u Umumiye \u0130daresi <\/em>kurmu\u015flard\u0131. Padi\u015fah ll. Abdulhamid d&ouml;neminde yap\u0131lan bu anla\u015fma <em>Muharrem Kararnamesi <\/em>olarak an\u0131lm\u0131\u015ft\u0131. Osmanl\u0131 H&uuml;k&uuml;meti, <em>Muharrem Kararnamesi&rsquo;<\/em>nin 8. maddesi gere\u011fi; tahsil edilmesi kolay devlet gelirlerini, <em>&ldquo;mutlak ve de\u011fi\u015fmez&rdquo;<\/em> bir bi&ccedil;imde bor&ccedil; &ouml;demelerine ay\u0131rm\u0131\u015ft\u0131. Bu gelirler \u015funlard\u0131: <em>t&uuml;t&uuml;n<\/em> ve <em>t&ouml;mbeki (nargile t&uuml;t&uuml;n&uuml;) r&uuml;sumat\u0131 (vergileri), ipek &ouml;\u015f&uuml;r&uuml; (ondal\u0131k vergi), pul ve ispirto resimleri (har&ccedil;lar), t&uuml;t&uuml;n ve tuz inhisarlar\u0131 (tekelleri), \u0130stanbul ve civar\u0131 bal\u0131k av\u0131 vergisi, Bulgaristan vergisi, K\u0131br\u0131s gelirleri, Do\u011fu Rumeli vergisi, g&uuml;mr&uuml;k resimlerinde ve gelir vergisinde olu\u015facak gelir art\u0131klar\u0131<\/em>. T&uuml;rkiye, Kurtulu\u015f Sava\u015f\u0131&rsquo;ndan sonra yap\u0131lan <em>Lozan Konferans\u0131&rsquo;<\/em>yla <em>D&uuml;yunu Umumiye <\/em>rejimine son vermi\u015f ve yeni devletin &uuml;zerine d&uuml;\u015fen bor&ccedil;lardan &uuml;lke kurtar\u0131lm\u0131\u015ft\u0131. B&ouml;ylece siyasi ba\u011f\u0131ms\u0131zl\u0131k yan\u0131nda mali ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131m\u0131z da sa\u011flanm\u0131\u015ft\u0131. T&uuml;rkiye&rsquo;nin 2002&rsquo;de 130 milyar Dolar olan br&uuml;t d\u0131\u015f borcu 2016&rsquo;n\u0131n ilk yar\u0131s\u0131 itibariyle 421.4 milyar Dolara &ccedil;\u0131km\u0131\u015ft\u0131. Bu &ccedil;ok h\u0131zl\u0131 ve y&uuml;ksek bir art\u0131\u015ft\u0131 ve T&uuml;rkiye&rsquo;nin ya\u015fad\u0131\u011f\u0131 <em>cari a&ccedil;\u0131k <\/em>nedeniyle (cari a&ccedil;\u0131k: kazand\u0131\u011f\u0131ndan &ccedil;ok harcamak gibi bir \u015fey) &ouml;denebilirlik boyutunu &ccedil;oktan a\u015fm\u0131\u015ft\u0131. T&uuml;rkiye AKP elinde maalesef Osmanl\u0131&rsquo;da oldu\u011fu gibi, bor&ccedil; alarak bor&ccedil; &ouml;deyen bir &uuml;lke haline gelip t\u0131kanm\u0131\u015ft\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">Hazine Alt\u0131nlar\u0131 Neden \u0130ngiltere&rsquo;ye Aktar\u0131lm\u0131\u015ft\u0131?<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">\u0130\u015fte Hazine alt\u0131nlar\u0131, bor&ccedil; miktar\u0131n\u0131n artt\u0131\u011f\u0131 ve &ouml;deme g&uuml;&ccedil;l&uuml;\u011f&uuml; &ccedil;ekildi\u011fi bir a\u015famada \u0130ngiltere&rsquo;ye yollanm\u0131\u015ft\u0131. G&ouml;nderimin nedeni ve amac\u0131 konusunda herhangi bir a&ccedil;\u0131klama yap\u0131lmam\u0131\u015ft\u0131. Bu nedenle, irdelemeyle bir sonuca ula\u015fmak zorunday\u0131z. Durum \u015fudur: T&uuml;rkiye alt\u0131n rezervinin t&uuml;m&uuml;ne yak\u0131n\u0131n\u0131 (% 92), emanet ad\u0131 alt\u0131nda rehin b\u0131rakm\u0131\u015ft\u0131r. Bu durum, verilen &ouml;d&uuml;n&uuml;n d\u0131\u015fardan gelen ciddi ve &ouml;nemli bir dayatman\u0131n mecburi kar\u015f\u0131l\u0131\u011f\u0131 oldu\u011funun kan\u0131t\u0131yd\u0131. Ve \u0130ngiltere bu t&uuml;r <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">rehin<\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&rsquo;lerin hi&ccedil;birisini geri &ouml;demeye yana\u015fmam\u0131\u015ft\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Merkez Bankas\u0131&rsquo;ndaki rezervin &ouml;nemli b&ouml;l&uuml;m&uuml;, &ouml;zel \u015firketler ya da ki\u015filerden tahvil senedi ve kredi kar\u015f\u0131l\u0131\u011f\u0131 al\u0131nan paralardan olu\u015fmaktad\u0131r. Yani Hazinenin kendi paras\u0131 olmamaktad\u0131r. Yeterli rezerv bulunmazsa, g&uuml;n&uuml; geldi\u011finde tahvillerin &ouml;demesi yap\u0131lamayacakt\u0131r. Ekonominin k\u0131r\u0131lganl\u0131\u011f\u0131 ve ya\u015fanmakta olan &ccedil;at\u0131\u015fmal\u0131 ortam g&ouml;z &ouml;n&uuml;ne al\u0131nd\u0131\u011f\u0131nda, yap\u0131lan i\u015fin yol a&ccedil;aca\u011f\u0131 felaketler kendili\u011finden ortaya &ccedil;\u0131kmaktad\u0131r. Kald\u0131 ki \u0130ngiltere&rsquo;nin T&uuml;rkiye ile kurdu\u011fu ticari ili\u015fkiler konusunda sicili kirlidir. Birinci D&uuml;nya Sava\u015f\u0131 &ouml;ncesinde, Osmanl\u0131 devletinin paras\u0131n\u0131 pe\u015fin &ouml;deyerek yapt\u0131rd\u0131\u011f\u0131 gemileri bile, sava\u015f\u0131 gerek&ccedil;e yaparak teslim etmeye yana\u015fmam\u0131\u015ft\u0131r. F\u0131rsat\u0131n\u0131 buldu\u011funda bir gerek&ccedil;e uydurup 450 ton alt\u0131n\u0131m\u0131za el koyma olas\u0131l\u0131\u011f\u0131 vard\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Alt\u0131nlar Rehin mi B\u0131rak\u0131ld\u0131?<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Belki de bu alt\u0131nlar borca kar\u015f\u0131l\u0131k <em>rehin <\/em>b\u0131rak\u0131lm\u0131\u015ft\u0131r. D\u0131\u015f borcumuzun &ouml;nemli b&ouml;l&uuml;m&uuml;, devletin kefaletinde &ouml;zel \u015firketlere ait bor&ccedil;lard\u0131r. &Ouml;zel \u015firketler ekonomik durgunluk ve Dolardaki art\u0131\u015f nedeniyle g&uuml;&ccedil; durumdad\u0131r, d\u0131\u015far\u0131ya olan bor&ccedil;lar\u0131n\u0131 &ouml;deyememe olas\u0131l\u0131\u011f\u0131 vard\u0131r. Bu durumda devlet kendi borcuyla birlikte &ouml;zel \u015firket bor&ccedil;lar\u0131n\u0131 da &ouml;demek zorunda kalacakt\u0131r. Oysa, bug&uuml;n T&uuml;rkiye bor&ccedil; alarak bor&ccedil; &ouml;der duruma d&uuml;\u015f&uuml;lm&uuml;\u015f durumdad\u0131r. Gelir d&uuml;zeyi d&uuml;\u015f&uuml;k, &uuml;retti\u011finden &ccedil;ok t&uuml;keten bir &uuml;lke haline gelen T&uuml;rkiye, s&uuml;reklilik arz eden <em>cari a&ccedil;\u0131kla, <\/em>bor&ccedil; &ouml;demek bir yana, g&uuml;nl&uuml;k ya\u015fam\u0131n\u0131 bile bor&ccedil; alarak y&uuml;r&uuml;tmeye &ccedil;al\u0131\u015fmaktad\u0131r. Bu nedenle, e\u011fer 450 ton alt\u0131n\u0131m\u0131z borca kar\u015f\u0131l\u0131k <em>rehin <\/em>b\u0131rak\u0131ld\u0131larsa, alt\u0131nlar\u0131n geri verilmemesi olduk&ccedil;a y&uuml;ksek bir olas\u0131l\u0131kt\u0131r. <\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Maalesef AKP T&uuml;rkiye&rsquo;si, Osmanl\u0131&rsquo;n\u0131n son d&ouml;nemine geri d&ouml;nm&uuml;\u015f durumdad\u0131r. Bor&ccedil;lar &ouml;deme s\u0131n\u0131r\u0131n\u0131 a\u015fm\u0131\u015f, gelirler olduk&ccedil;a azalm\u0131\u015ft\u0131r. Art\u0131k T&uuml;rkiye varl\u0131klar\u0131n\u0131 satarak ayakta kalmaya &ccedil;al\u0131\u015fmaktad\u0131r. Bor&ccedil; &ouml;deyemez duruma d&uuml;\u015fen Osmanl\u0131 \u0130mparatorlu\u011fu, bor&ccedil; &ouml;deme i\u015fini <em>D&uuml;yunu Umumiye \u0130daresi&rsquo;<\/em>ne b\u0131rakmak zorunda kalm\u0131\u015ft\u0131. Benzer uygulama, farkl\u0131 y&ouml;ntem ve ara&ccedil;larla g&uuml;n&uuml;m&uuml;zde de yap\u0131lmaktad\u0131r ve i\u015fte VARLIK FONU bunun bir k\u0131l\u0131f\u0131d\u0131r. &Uuml;lkenin en de\u011ferli ve ge&ccedil;erli alt\u0131n varl\u0131\u011f\u0131n\u0131 d\u0131\u015far\u0131ya aktarma kolayc\u0131l\u0131\u011f\u0131, &ldquo;<em>Kemal Dervi\u015f yasalar\u0131yla&rdquo; <\/em>T&uuml;rk hukuk sistemine yerle\u015ftirilmi\u015f ve 14 y\u0131ld\u0131r uygulanm\u0131\u015ft\u0131r. <em>&Ouml;zelle\u015ftirmeler, toprak sat\u0131\u015flar\u0131, madenler, i\u015fletme imtiyazlar\u0131 <\/em>ve <em>kiralamalarla <\/em>toplanan paralarla harcama yap\u0131lm\u0131\u015f, bunlar yetmeyince d\u0131\u015far\u0131dan bor&ccedil; al\u0131nm\u0131\u015ft\u0131r. Bug&uuml;n gelinen yer, bor&ccedil; alarak <em>bor&ccedil; taksiti <\/em>&ouml;deme noktas\u0131d\u0131r.<\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Varl\u0131k Fonu, iflas\u0131n ilan\u0131d\u0131r!<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><em><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Varl\u0131k Fonu, D&uuml;yun-u Umumiye&rsquo;<\/span><\/em><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">nin g&uuml;n&uuml;m&uuml;zdeki devam\u0131d\u0131r; onun yapt\u0131\u011f\u0131 i\u015fleri yapacakt\u0131r. Yabanc\u0131lar da bu sistemle kolay toplanan devlet gelirlerine el koyacakt\u0131r. <em>Varl\u0131k Fonu<\/em> uygulamas\u0131, b&uuml;t&ccedil;esi fazla veren zengin &uuml;lkelerin, <em>refah\u0131n gelece\u011fe ta\u015f\u0131nmas\u0131 <\/em>i&ccedil;in uygulad\u0131\u011f\u0131 bir yap\u0131d\u0131r. T&uuml;rkiye&rsquo;de tam tersi bir ama&ccedil; i&ccedil;in uygulamaya sokulmaktad\u0131r. Belli ki, <em>refah<\/em> de\u011fil <em>bor&ccedil; <\/em>ve <em>yoksulluk <\/em>gelece\u011fe ta\u015f\u0131nacakt\u0131r. Devlet varl\u0131klar\u0131n\u0131n elde kalanlar\u0131, yeni bor&ccedil; alabilmek ve ayakta kalmak i&ccedil;in kullan\u0131lacakt\u0131r. <em>Varl\u0131k Fonu&rsquo;<\/em>nun amac\u0131; &ldquo;<em>d\u0131\u015f kaynak temin etmek&rdquo; <\/em>ve &ldquo;<em>b&uuml;y&uuml;k &ouml;l&ccedil;ekli yat\u0131r\u0131mlara kaynak sa\u011flamak&rdquo; <\/em>olarak a&ccedil;\u0131klanm\u0131\u015ft\u0131r. Bu a&ccedil;\u0131klama, paras\u0131z kalman\u0131n ve bor&ccedil; bulamaman\u0131n itiraf\u0131 niteli\u011fi ta\u015f\u0131maktad\u0131r. &Ccedil;&uuml;nk&uuml; <em>&ldquo;D\u0131\u015f kaynak temin etmek&rdquo;, <\/em>yeni d\u0131\u015f bor&ccedil; bulmak anlam\u0131ndad\u0131r. Ayr\u0131ca, h&uuml;k&uuml;met, &ldquo;<em>b&uuml;y&uuml;k &ouml;l&ccedil;ekli yat\u0131r\u0131mlara kaynak&rdquo; <\/em>ay\u0131rmamakta bunlar\u0131 kefil olarak &ouml;zel \u015firketlere yap-i\u015flet-devret ile yapt\u0131rmaktad\u0131r. Bu nedenle, resmi a&ccedil;\u0131klama ger&ccedil;e\u011fi yans\u0131tmamaktad\u0131r. Ger&ccedil;ek \u015fudur: Alt\u0131nlar\u0131n <em>rehine <\/em>verilmesi yeterli say\u0131lmam\u0131\u015ft\u0131r ve para elde etmek i&ccedil;in kalan devlet kurumlar\u0131 elden &ccedil;\u0131kar\u0131lmaktad\u0131r. <em>Ziraat Bankas\u0131, BOTA\u015e, TPAO, PTT, borsa \u0130stanbul Anonim \u015eirketi, T&uuml;rksat Uydu Haberle\u015fme Kablo TV ve \u0130\u015fletme Anonim \u015eirketi, Eti Maden <\/em>ve<em> &Ccedil;aykur, THY, Halkbank&hellip; e<\/em>vet bunlar\u0131n hepsi, \u0130ngiltere&rsquo;ye aktar\u0131lan 450 ton alt\u0131nlar\u0131m\u0131z\u0131 bekleyen sona do\u011fru yola &ccedil;\u0131kar\u0131lm\u0131\u015ft\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">AKP iktidar\u0131 d&ouml;neminde Avrupa&rsquo;ya kaynak aktar\u0131m\u0131; d\u0131\u015f borca &ouml;denen faizlerden ayr\u0131 olarak, farkl\u0131 y&ouml;ntem ve ara&ccedil;larla s&uuml;rekli hale gelmi\u015f durumdad\u0131r. T&uuml;rkiye, <em>G&uuml;mr&uuml;k Birli\u011fi Protokol&uuml;&rsquo;<\/em>n&uuml; imzalad\u0131\u011f\u0131 1995 y\u0131l\u0131ndan 2016 y\u0131l\u0131na dek, Avrupa&rsquo;yla yapt\u0131\u011f\u0131 d\u0131\u015f ticarette verdi\u011fi a&ccedil;\u0131k 267 milyar Dolard\u0131r. Bu a&ccedil;\u0131k; bor&ccedil; faizleri, &ouml;zel \u015firket ve ki\u015fi aktar\u0131mlar\u0131 gibi a&ccedil;\u0131k olanlar d\u0131\u015f\u0131ndaki muazzam bir dolayl\u0131 kaynak aktar\u0131m\u0131d\u0131r ve b&uuml;t&uuml;n bu gaflet ve h\u0131yanetlerin hesab\u0131 elbette sorulacakt\u0131r.[4]<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><em><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Normalde asla yan\u0131na yakla\u015f\u0131lamayacak ve k\u0131l\u0131na bile dokunulamayacak b&ouml;ylesine stratejik kurulu\u015flar\u0131n, ola\u011fan&uuml;st&uuml; hal d&uuml;meniyle, kanun h&uuml;km&uuml;nde kararnamelerle, sorgusuz sualsiz, fona aktar\u0131lmas\u0131 tarihi bir skandald\u0131r. Seka gitti, S&uuml;merbank gitti, limanlar komple gitti, madenler sat\u0131ld\u0131. Tekel gitti, T&uuml;rk Telekom gitti, Telsim gitti, T&uuml;pra\u015f gitti, Erdemir gitti, Petkim gitti, T&uuml;rkiye demir &ccedil;elik i\u015fletmeleri sat\u0131ld\u0131. Bankalar gitti, sigorta \u015firketleri gitti, ara&ccedil; muayene istasyonlar\u0131 gitti, \u015feker fabrikalar\u0131 gitti, g&uuml;bre sanayi sat\u0131ld\u0131. &Ouml;zel hastaneler gitti, hipermarketler gitti, marinalar, feribotlar, oteller gitti, tuzlalar sat\u0131ld\u0131. Ne porselen fabrikas\u0131 kald\u0131, ne kundura fabrikas\u0131, devlete ait 135 bin adet bina sat\u0131ld\u0131, dereler sat\u0131ld\u0131, ormanlar sat\u0131ld\u0131. K\u0131saca vatan topraklar\u0131m\u0131z ve stratejik kurumlar\u0131m\u0131z bir bir elden &ccedil;\u0131kar\u0131ld\u0131. Ve \u015fimdi, Meclis&#8217;i devre d\u0131\u015f\u0131 b\u0131rakarak, Say\u0131\u015ftay denetimini devre d\u0131\u015f\u0131 b\u0131rakarak, Hazine&#8217;yi devre d\u0131\u015f\u0131 b\u0131rakarak, devlet ihale kanununu, devlet personel kanununu, rekabet kanununu, &ouml;zelle\u015ftirme kanununu yok sayarak, THY&#8217;nin, Ziraat Bankas\u0131&#8217;n\u0131n, Halkbank&#8217;\u0131n, TPAO&#8217;nun, Bota\u015f&#8217;\u0131n, PTT&#8217;nin, T&uuml;rksat&#8217;\u0131n, Borsa&#8217;n\u0131n, Milli Piyango&#8217;nun, &Ccedil;aykur&#8217;un, Savunma Sanayi&#8217;nin tek adam\u0131n kafas\u0131na ve insaf\u0131na b\u0131rak\u0131lmas\u0131&hellip; Tek adam\u0131n bu kurulu\u015flara ait milyarlar\u0131 kendi hevas\u0131na ve hesab\u0131na g&ouml;re harcamas\u0131, kimseye hesap vermeden, keyfince, vergisiz denetimsiz, can\u0131n\u0131n istedi\u011fini satmas\u0131&hellip; <\/span><\/em><\/strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\"> <strong>Evet bu ac\u0131 ger&ccedil;ekleri hi&ccedil; ho\u015flanmad\u0131\u011f\u0131n\u0131z adamlar hat\u0131rlatsa da, bunlar a&ccedil;\u0131k&ccedil;a bir \u0130FLAS&rsquo;t\u0131r ve \u0130NT\u0130HAR&rsquo;d\u0131r.<\/strong><\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Varl\u0131k Fonunun 5 ki\u015filik y&ouml;netim kurulu i&ccedil;inde Cumhurba\u015fkan\u0131 Tayyip Erdo\u011fan&#8217;\u0131n Ekonomi Ba\u015f Dan\u0131\u015fman\u0131 Yi\u011fit Bulut da vard\u0131 ve bu \u015fahs\u0131n &ccedil;ok karanl\u0131k ba\u011flant\u0131lar\u0131 ve ba\u011fnazl\u0131klar\u0131 konu\u015fulmaktayd\u0131. H&uuml;k&uuml;met karar\u0131na g&ouml;re, g&uuml;ya Fon Ba\u015fbakan Binali Y\u0131ld\u0131r\u0131m&#8217;\u0131n kontrol&uuml;nde olacakt\u0131. Ama, e\u011fer Anayasa referandumunda &#8220;Evet&#8221; &ccedil;\u0131karsa, zaten Ba\u015fbakanl\u0131k diye bir \u015fey kalmayacak, b&uuml;t&uuml;n y&uuml;r&uuml;tme yetkileriyle birlikte muhtemelen bu fon da Cumhurba\u015fkanl\u0131\u011f\u0131na ba\u011fl\u0131 &ccedil;al\u0131\u015facakt\u0131. O y&uuml;zden pe\u015finen Varl\u0131k Fonu y&ouml;netimine Yi\u011fit Bulut&#8217;un getirilmesinin \u015feytani bir mant\u0131\u011f\u0131 ve amac\u0131 oldu\u011funu kabul etmemiz laz\u0131md\u0131. Zaten Ziraat Bankas\u0131 kurucusu Mason Mithat Pa\u015fa&#8217;dan sonra \u015fimdi Yi\u011fit Bulut&rsquo;un atanmas\u0131 bir tesad&uuml;f san\u0131lmas\u0131nd\u0131. K\u0131saca di\u011fer &uuml;lkelerdeki bu t&uuml;r fonlarda, de\u011fer fazlas\u0131 fona aktar\u0131larak &uuml;lke gelece\u011fine fazladan miras b\u0131rak\u0131lmas\u0131 hedeflenirken, biz de ise eldeki de\u011feri daha fazla bor&ccedil;, evet belki daha d&uuml;\u015f&uuml;k faiz umuduyla da olsa daha fazla bor&ccedil;lanmak amac\u0131yla bor&ccedil; verenlere teminat olarak g&ouml;stermek ama&ccedil;lanm\u0131\u015ft\u0131r. Bu hamle T&uuml;rkiye ekonomisinin gelinen noktada ne kadar d\u0131\u015f borca ba\u011f\u0131ml\u0131l\u0131k ihtiyac\u0131 i&ccedil;inde oldu\u011funu ortaya koymaktayd\u0131. <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">\u015eimdi &uuml;lkenin de\u011ferli \u015firketleri, al\u0131nacak faizli d\u0131\u015f bor&ccedil; kar\u015f\u0131l\u0131\u011f\u0131nda teminat olarak sunulmaktayd\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">Yurt i&ccedil;inde ve yurtd\u0131\u015f\u0131nda finansman s\u0131k\u0131nt\u0131s\u0131<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Bu t&uuml;r karanl\u0131k ve karma\u015f\u0131k FON hamlelerinin, asl\u0131nda <em>ba\u015flat\u0131lan projelerin finansman\u0131n\u0131 kolayla\u015ft\u0131rmak ve bu i\u015flemlerin kamu denetiminden &ccedil;\u0131kar\u0131lmas\u0131n\u0131 sa\u011flamak<\/em> i&ccedil;in yap\u0131ld\u0131\u011f\u0131n\u0131 d&uuml;\u015f&uuml;nen ekonomistler a\u011f\u0131rl\u0131ktad\u0131r. &Ccedil;&uuml;nk&uuml; art\u0131k yurt i&ccedil;indeki bankalardan da yurtd\u0131\u015f\u0131ndaki bankalardan da istenen finansman temini zorla\u015fm\u0131\u015ft\u0131r. Yurt i&ccedil;inden sa\u011flanamamas\u0131n\u0131n nedeni, <em>&#8220;yurtd\u0131\u015f\u0131ndan gelen ve sadece konuta ve l&uuml;ks t&uuml;ketime y&ouml;nelen s\u0131cak sermaye ak\u0131mlar\u0131yla &ccedil;ok h\u0131zl\u0131 bir kredi art\u0131\u015f\u0131 ve bor&ccedil; bata\u011f\u0131 ya\u015fayan T&uuml;rkiye&#8217;de bu ak\u0131mlar\u0131n kesilmesiyle finansal sistemin kredi hacminin s\u0131n\u0131rlar\u0131na yakla\u015fmas\u0131 yani iflas\u0131n e\u015fi\u011fine dayanmas\u0131d\u0131r&#8221;.<\/em> &Uuml;lke i&ccedil;indeki kredi yaratma kapasitesinin i&ccedil;erdeki mevduat art\u0131\u015f\u0131yla s\u0131n\u0131rl\u0131 kald\u0131\u011f\u0131n\u0131 ve bu art\u0131\u015f\u0131n da giderek azald\u0131\u011f\u0131n\u0131 d&uuml;\u015f&uuml;n&uuml;rsek, mecburen yurtd\u0131\u015f\u0131ndan finansman sa\u011flanmas\u0131 amac\u0131yla d\u0131\u015f sermaye bankalar\u0131na ipotek garantisi olmak &uuml;zere VARLIK FONU yap\u0131land\u0131r\u0131lm\u0131\u015ft\u0131r!<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&bull; Bir anonim \u015firket olarak faaliyet g&ouml;sterecek olan bu fonlar, en az be\u015f ki\u015filik bir y&ouml;netim kurulundan olu\u015fmaktad\u0131r. \u015eirketin y&ouml;netim kurulu ve genel m&uuml;d&uuml;r&uuml;n&uuml;n hukuk, finans, ekonomi, maliye ya da bankac\u0131l\u0131k alanlar\u0131nda en az be\u015f y\u0131l tecr&uuml;besi olmas\u0131 \u015fart\u0131 vard\u0131r. \u015eirket buna ek olarak gerekli g&ouml;rd&uuml;\u011f&uuml; halde alt fonlar ve \u015firketler de kuracakt\u0131r. Y&ouml;netim kurulu taraf\u0131ndan haz\u0131rlanacak ve Bakanlar Kurulu taraf\u0131ndan onaylanacak 3 y\u0131ll\u0131k strateji plan\u0131 &ccedil;er&ccedil;evesinde y&ouml;netilmi\u015f olacakt\u0131r. T&uuml;rkiye Varl\u0131k Fonu&rsquo;nun y&ouml;netim kurulu &uuml;yeli\u011fine, tart\u0131\u015fmal\u0131 ekonomik g&ouml;r&uuml;\u015fleriyle bilinen Cumhurba\u015fkan\u0131 Ba\u015fdan\u0131\u015fman\u0131 Yi\u011fit Bulut&rsquo;un da dahil oldu\u011fu isimler atanm\u0131\u015ft\u0131. TVF, yap\u0131s\u0131 itibariyle Say\u0131\u015ftay denetiminden muaf tutulacak, sadece ba\u011f\u0131ms\u0131z denetim \u015firketince hesaplar\u0131na bak\u0131lacakt\u0131. Ba\u015fbakan Yard\u0131mc\u0131s\u0131 Numan Kurtulmu\u015f&rsquo;un bu \u015firketlerin daha iyi y&ouml;netilmesi i&ccedil;in kuruldu\u011funu &ouml;ne s&uuml;rd&uuml;\u011f&uuml; TVF hakk\u0131nda <strong>&lsquo;D&uuml;yun-u Umumiye&rsquo;<\/strong> benzetmesi bo\u015funa yap\u0131lmam\u0131\u015ft\u0131. Varl\u0131k Fonu, referandum s&uuml;recinde ad\u0131m ad\u0131m <strong>&lsquo;ekonomik kriz&rsquo;<\/strong>e giden T&uuml;rkiye&rsquo;yi nas\u0131l etkilemi\u015f olacakt\u0131?<\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&bull; Fonun denetlenmesi nas\u0131l olacakt\u0131r? <\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Varl\u0131k Fonu ve alt fonlar\u0131 ba\u011f\u0131ms\u0131z denetime tabi olacakt\u0131r. Denet&ccedil;iler belli aral\u0131klarla fonun banka hesaplar\u0131n\u0131 ve di\u011fer varl\u0131klar\u0131n\u0131 inceleyerek ba\u011f\u0131ms\u0131z denetim raporlar\u0131n\u0131 a&ccedil;\u0131klayacaklard\u0131r. Buna ek olarak ba\u015fbakan taraf\u0131ndan g&ouml;revlendirilecek &uuml;&ccedil; uzman taraf\u0131ndan haz\u0131rlanan rapor Haziran ay\u0131n\u0131n sonuna kadar bakanlar kuruluna sunulacakt\u0131r.<\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&bull;<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> Fonun kurulu\u015funa ili\u015fkin resmi gazete karar\u0131nda fonun 6362 say\u0131l\u0131 Sermaye Piyasalar\u0131 Kanunu kapsam\u0131nda kurumsal y&ouml;netim d&uuml;zenlemelerine uyaca\u011f\u0131 vurgulanm\u0131\u015ft\u0131r.<\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&bull;<\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\"> Fon nas\u0131l finansman sa\u011flayacakt\u0131r?<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Fon, &ouml;zelle\u015ftirme program\u0131nda bulunan ve fona devrine karar al\u0131nan varl\u0131klar ve &Ouml;zelle\u015ftirme Fonundan T&uuml;rkiye Varl\u0131k Fonuna aktar\u0131lmas\u0131na karar verilen nakit fazlas\u0131ndan finansman sa\u011flayacakt\u0131r. Buna ek olarak Fon yurt i&ccedil;i ve yurt d\u0131\u015f\u0131 sermaye piyasalar\u0131ndan da Fon banka ve di\u011fer finans kurulu\u015flar\u0131ndan da teminatl\u0131 ya da teminats\u0131z olarak bor&ccedil; alacakt\u0131r. Fon ad\u0131na finansman sa\u011flan\u0131rken, fon teminat olarak ipotek, rehin ve kefalet sunacakt\u0131r. Yani fon elindeki varl\u0131klar\u0131 teminat g&ouml;stererek bor&ccedil;lanm\u0131\u015f olacakt\u0131r. Ve as\u0131l bu ama&ccedil;la kurulmu\u015f bulunmaktad\u0131r. Evet: Sahipsiz Vatan\u0131n, batmas\u0131 hakt\u0131r. Millet uyan\u0131rsa, kurtulacakt\u0131r!&rdquo;<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;SUKUK&rdquo;: Faize Kira K\u0131l\u0131f\u0131!<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&ldquo;<\/span><strong><em><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">\u0130slami bono&rdquo;<\/span><\/em><\/strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\"> <\/span><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">ya da <\/span><strong><em><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&ldquo;kira sertifikas\u0131&rdquo;<\/span><\/em><\/strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\"> <\/span><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">olarak bilinen <\/span><strong><em><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&#8220;sukuk&#8221;<\/span><\/em><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">,<\/span><\/strong><em><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\"> <\/span><\/em><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">asl\u0131nda gayrimenkul kira gelirleri kar\u015f\u0131l\u0131\u011f\u0131nda &ccedil;\u0131kar\u0131l\u0131r ve vadesinin sonunda da senedin nominal bedeli &uuml;zerinden geri al\u0131naca\u011f\u0131 garantisi sa\u011flan\u0131r. Peki bu durumda tahvil ile sukuk aras\u0131nda ne fark vard\u0131r? <strong>Tahvil belli bir faizi Garanti eder, sukuk ise tan\u0131mlanm\u0131\u015f Gayrimenkul geliri olan kiray\u0131 Garanti eder. Aradaki &ouml;nemli fark sukuk&rsquo;ta tan\u0131mlanm\u0131\u015f bir Gayrimenkul Kira gelirinin olmas\u0131d\u0131r ve bu &ouml;zellik sukuk&#8217;un tahvile g&ouml;re risklerini biraz azalt\u0131r.<\/strong> &Ccedil;&uuml;nk&uuml; tahvil bor&ccedil;lanmas\u0131nda belirli bir varl\u0131k kar\u015f\u0131l\u0131\u011f\u0131nda taahh&uuml;t s&ouml;z konusu de\u011fildir. B&ouml;ylece Faiz almak istemeyen yat\u0131r\u0131mc\u0131 i&ccedil;in sukuk alternatif bir Yat\u0131r\u0131m arac\u0131 olarak sunulmaktad\u0131r. <\/span><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Yani &ldquo;sukuk&rdquo;; k\u0131ymetli mal varl\u0131klar\u0131n\u0131 ipotek g&ouml;sterip &ldquo;faiz&rdquo;e kira k\u0131l\u0131f\u0131 takmakt\u0131r. <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Gelelim sukuk&rsquo;un finansal piyasalardaki hacmine&hellip; Son on y\u0131lda sukuk arac\u0131l\u0131\u011f\u0131yla 1.2 trilyon Dolarl\u0131k varl\u0131k piyasaya s&uuml;r&uuml;ld&uuml;. Peki kimler yap\u0131yor bu i\u015flemi en &ccedil;ok derseniz&#8230; En &ccedil;ok sukuk i\u015flemini Bat\u0131l\u0131 banka ve finans kurulu\u015flar\u0131 ba\u015flatm\u0131\u015ft\u0131r. &Ouml;rne\u011fin Citibank otuz y\u0131ld\u0131r sukuk ve di\u011fer \u0130slami finans hizmetlerini veriyor. HSBC, Deutsche Bank, Commerzbank, Standard Chartered ve pek &ccedil;ok Bat\u0131l\u0131 banka sukuk ihra&ccedil; i\u015flemleri yapmaktad\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Hazine M&uuml;ste\u015farl\u0131\u011f\u0131, 18 Eyl&uuml;l 2012&#8217;de Citigroup, HSBC ve Liquity House &uuml;&ccedil;l&uuml;s&uuml;ne yetki vererek 1.5 milyar dolar tutar\u0131nda sukuk sat\u0131\u015fa &ccedil;\u0131karm\u0131\u015ft\u0131. Ve bu sat\u0131\u015fa yakla\u015f\u0131k be\u015f kat\u0131 talep artm\u0131\u015ft\u0131. <strong>Bu sukuk sat\u0131\u015f\u0131n\u0131n &ouml;nemli &ouml;zelli\u011fi \u015f&ouml;yle a&ccedil;\u0131klan\u0131yordu: G&uuml;ya sukuk&#8217;un arkas\u0131nda tan\u0131mlanm\u0131\u015f bir gayrimenkul geliri oldu\u011fu i&ccedil;in hem bor&ccedil;lanma maliyetini d&uuml;\u015f&uuml;r&uuml;yor hem de gayrimenkullerin menkul k\u0131ymete d&ouml;n&uuml;\u015ferek ekonomiye kazand\u0131r\u0131lmas\u0131n\u0131 sa\u011fl\u0131yordu.<\/strong> Bu yolla Hazine 2018 vadeli ve 1.5 milyar Dolarl\u0131k sukuk sat\u0131\u015f\u0131na y\u0131lda y&uuml;zde 2.8 kira &ouml;d&uuml;yor, bir de elindeki gayrimenkulleri menkul k\u0131ymete &ccedil;evirip ekonomiye kazand\u0131r\u0131yordu. <\/span><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">Yani millete ve devlete ait mal varl\u0131klar\u0131 ipotek g&ouml;sterip bor&ccedil; al\u0131n\u0131yordu.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&ldquo;Sukuk&rdquo;, basit anlat\u0131m\u0131yla &ldquo;faizsiz bono&rdquo; diye yutturulmaktad\u0131r. Bono sahibine faiz yerine ba\u015fka isimler alt\u0131nda &ouml;deme yap\u0131lmaktad\u0131r. &ldquo;\u015eeriat&rdquo; kaidelerine g&ouml;re, farkl\u0131 bor&ccedil;lanma yollar\u0131 olan: \u0130car kar\u015f\u0131l\u0131\u011f\u0131 bor&ccedil;lanma; \u0130carah &uuml;r&uuml;n kar\u015f\u0131l\u0131\u011f\u0131 bor&ccedil;lanma &ldquo;Muzara&ldquo;, sulama kar\u015f\u0131l\u0131\u011f\u0131 bor&ccedil;lanma &ldquo;Musaqa&rdquo;, a\u011fa&ccedil;land\u0131rma kar\u015f\u0131l\u0131\u011f\u0131 &ldquo;Mugarasa&rdquo; diye adland\u0131r\u0131lan bor&ccedil;lanma yollar\u0131na benzetip toplumu aldatmakt\u0131r. Ve hele &ldquo;Sukuk&rdquo;u &ldquo;Selem Senedine&rdquo; benzetmek tam bir sahtek&acirc;rl\u0131kt\u0131r. &Ccedil;&uuml;nk&uuml; <\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;Selem&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">para pe\u015fin, &uuml;retilecek ihtiya&ccedil; maddeleri ise birka&ccedil; ay sonra &ouml;denmek &uuml;zere yap\u0131lan ve asl\u0131nda faize alternatif say\u0131lan bir al\u0131\u015fveri\u015f uygulamas\u0131d\u0131r. <\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;Sukuk&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">ise eldeki mal varl\u0131\u011f\u0131n\u0131 al\u0131nan bor&ccedil; kar\u015f\u0131l\u0131\u011f\u0131 ipotek b\u0131rak\u0131p, &ouml;denecek faize <\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;kira ve k&acirc;r pay\u0131&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">k\u0131l\u0131f\u0131 tak\u0131lmas\u0131d\u0131r. Yani <\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;Selem&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">&uuml;retimi art\u0131rmakta ve ucuzlatmakta, <\/span><\/strong><strong><span style=\"font-size: 16pt; font-family: 'Arial',sans-serif;\">&ldquo;Sukuk&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">ise t&uuml;ketimi azd\u0131r\u0131p faizi me\u015frula\u015ft\u0131rmaktad\u0131r. Daha do\u011frusu faizli bor&ccedil; alabilmek i&ccedil;in, en verimli ve k\u0131ymetli varl\u0131klar\u0131n ipotek b\u0131rak\u0131lmas\u0131d\u0131r.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Standart&amp;Poors&rsquo;un K&ouml;rfez &uuml;lkeleri finans kurulu\u015flar\u0131nda yapt\u0131\u011f\u0131 ara\u015ft\u0131rmaya g&ouml;re, K&ouml;rfez &uuml;lkelerindeki fonlar\u0131n y&uuml;zde 80&rsquo;i faizli olarak &ccedil;al\u0131\u015ft\u0131r\u0131lmaktad\u0131r. Y&uuml;zde 20&rsquo;si ise g&uuml;ya faizsiz yat\u0131r\u0131m ara&ccedil;lar\u0131na ba\u011flanm\u0131\u015ft\u0131r. K&ouml;rfez &uuml;lkelerinde faizsiz yat\u0131r\u0131m ara&ccedil;lar\u0131na ba\u011flanan paran\u0131n toplam\u0131n\u0131n 1.2 trilyon Dolar dolay\u0131ndad\u0131r. <strong>AKP H&uuml;k&uuml;meti 2003 y\u0131l\u0131nda sukuk ile bor&ccedil;lanmaya kalk\u0131\u015ft\u0131. Biz o zaman kamuya (halka) ait mallar\u0131n ve kurumlar\u0131n bir varl\u0131k \u015firketine aktar\u0131laca\u011f\u0131n\u0131, bu mallar m&uuml;lkler kar\u015f\u0131l\u0131\u011f\u0131 &ldquo;\u0130slam Bonosu&rdquo; bast\u0131r\u0131laca\u011f\u0131n\u0131, bu bonolar\u0131n genellikle Araplara sat\u0131laca\u011f\u0131n\u0131 ve dolayl\u0131 yoldan Siyonist sermayeye aktar\u0131laca\u011f\u0131n\u0131 yazd\u0131k. Kamu (halk), m&uuml;lkiyetini devretti\u011fi mala ve m&uuml;lke kira sa\u011flanacak, bu kira bedeli de faiz yerine \u0130slam Bonosu sat\u0131n alan Araplar eliyle k&uuml;resel sermaye baronlar\u0131na kazand\u0131r\u0131lacakt\u0131. Bunlara &ouml;denecek kiran\u0131n belli bir faiz gelirinin alt\u0131na d&uuml;\u015fmeyece\u011finin garantisi de, bu i\u015fin &ldquo;takiye&rdquo;sini olu\u015fturacakt\u0131.<\/strong><\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Oysa daha fazla bor&ccedil;lanmaya k\u0131l\u0131f aramak yerine kendi kendimize yeter olmaya &ccedil;al\u0131\u015f\u0131lmal\u0131yd\u0131 ve Adil Ekonomik D&uuml;zen ka&ccedil;\u0131n\u0131lmazd\u0131.<\/span><\/strong><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">B&ouml;yle <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&ldquo;Sukuk&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">sahtek&acirc;rl\u0131\u011f\u0131 ve <\/span><\/strong><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&ldquo;Varl\u0131k Fonu&rdquo; <\/span><\/strong><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">k\u0131l\u0131flar\u0131yla sadece T&uuml;rkiye&rsquo;nin iflas\u0131 h\u0131zland\u0131r\u0131l\u0131rd\u0131.<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\"> <\/span><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Bu fonun gizlenen amac\u0131; i\u015fler iyice s\u0131k\u0131\u015ft\u0131\u011f\u0131nda d\u0131\u015far\u0131dan finansman bulmak, gerekirse bu varl\u0131klar\u0131m\u0131z\u0131 teminat g&ouml;sterip bor&ccedil; almakt\u0131. Halbuki yap\u0131lacak i\u015f s&uuml;ratle &uuml;lkenin d\u0131\u015f finansman ba\u011fl\u0131l\u0131\u011f\u0131n\u0131 azaltmak olmal\u0131yd\u0131. <\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">\u0130kinci olarak; &uuml;lke i&ccedil;inde &uuml;retilebilecek ve ge&ccedil;mi\u015fte &uuml;retilen b&uuml;t&uuml;n ara mallar\u0131n &uuml;lke i&ccedil;inde tekrar &uuml;retilmeye ba\u015flanmas\u0131yd\u0131. Bunu planlarken ge&ccedil;mi\u015ften daha verimli, y&uuml;ksek teknolojiye dayal\u0131 &uuml;retim i&ccedil;in &ccedil;al\u0131\u015f\u0131lmal\u0131yd\u0131. &Uuml;&ccedil;&uuml;nc&uuml; acil i\u015fimiz tar\u0131m\u0131 yeniden canland\u0131rmakt\u0131. Birle\u015fmi\u015f Milletler 2050 d&uuml;nya n&uuml;fusunu 9 milyar tahmin ediyor ve &ouml;n&uuml;m&uuml;zdeki d&ouml;nemde en &ouml;nemli konu g\u0131dayd\u0131, yani bu insanlar\u0131n ne yiyece\u011fi olacakt\u0131. T&uuml;rkiye&rsquo;nin bu alanda &ouml;n&uuml;nde alt\u0131n f\u0131rsatlar vard\u0131.<\/span><\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">Bak\u0131n\u0131z T&uuml;rkiye&rsquo;nin sulanabilir ama hen&uuml;z suyla bulu\u015fmayan 4 milyon hektar topra\u011f\u0131 vard\u0131. Son 10 y\u0131lda yakla\u015f\u0131k 27 milyon d&ouml;n&uuml;m arazinin i\u015flenmesinden vazge&ccedil;ilmi\u015f bulunmaktayd\u0131<\/span><\/strong><span style=\"font-size: 12pt; font-family: 'Arial',sans-serif;\">. Do\u011fru planlama, y&uuml;ksek standartta paketleme ve pazarlama ile gerek tar\u0131m &uuml;r&uuml;nleri, gerek tar\u0131m sanayi mamulleri gerekse hayvanc\u0131l\u0131k gelirleriyle &ccedil;ok k\u0131sa s&uuml;rede b&uuml;y&uuml;k bir d\u0131\u015f ticaret fazlas\u0131 olu\u015fturma imk&acirc;n\u0131 vard\u0131. 41 bin kilometrekarelik Hollanda&rsquo;n\u0131n tar\u0131m ve g\u0131da sekt&ouml;r&uuml;nde d\u0131\u015f ticaret fazlas\u0131 y\u0131ll\u0131k 44 milyar Dolard\u0131. <strong>T&uuml;rkiye ise 780 bin kilometrekare ama b\u0131rak\u0131n fazlay\u0131 7 milyar Dolar a&ccedil;\u0131k veriyor olmas\u0131 tam bir ba\u015far\u0131s\u0131zl\u0131kt\u0131. Planl\u0131 bir tar\u0131m politikas\u0131yla 3 y\u0131l i&ccedil;inde 10 milyar Dolar d\u0131\u015f ticaret fazlas\u0131na ula\u015f\u0131l\u0131rd\u0131, 5 y\u0131l i&ccedil;inde Hollanda yakalan\u0131rd\u0131. B&uuml;t&uuml;n bu s\u0131k\u0131nt\u0131 ve sars\u0131nt\u0131lar ortam\u0131nda BA\u015eKANLIK MACERASI ise tam bir siyasi ve iktisadi intihard\u0131.<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p style=\"margin-bottom: 0.0001pt; text-align: justify; text-indent: 1cm; line-height: 16pt;\"><strong><span style=\"font-size: 14pt; font-family: 'Arial',sans-serif;\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br \/><\/span><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr style=\"text-align: left;\" size=\"1\" width=\"33%\" \/>\n<p><a href=\"#ftnref1\" id=\"ftn1\" style=\"vertical-align: super;\">[1]<\/a><span style=\"font-size: 9pt; font-family: 'Arial',sans-serif;\"> 82 <em>E\u011fitim Bilim Toplum Dergisi <\/em>\/ <em>Education Science Society Journal <\/em>Cilt \/ Volume:14 Say\u0131 \/ Issue:56 G&uuml;z \/ Autumn: 2016 Sayfa \/ Pages: 55-90 <\/span><\/p>\n<p><a href=\"#ftnref2\" id=\"ftn2\" style=\"vertical-align: super;\">[2]<\/a><span style=\"font-size: 9pt; font-family: 'Arial',sans-serif;\"> Bak: (Meltem Kay\u0131ran 83 E\u011fitim Bilim Toplum Dergisi \/ Education Science Society Journal Cilt \/ Volume: 14 Say\u0131 \/ Issue:56 G&uuml;z \/ Autumn: 2016 Sayfa \/ Pages: 55-90)<\/span><\/p>\n<p><a href=\"#ftnref3\" id=\"ftn3\" style=\"vertical-align: super;\">[3]<\/a><span style=\"font-size: 9pt; font-family: 'Arial',sans-serif;\"> (E\u011fitim Bilim Toplum Dergisi \/ Education Science Society Journal Cilt \/ Volume:14 Say\u0131 \/ Issue:56 G&uuml;z \/ Autumn: 2016 Sayfa \/ Pages: 55-90)<\/span><\/p>\n<p><a href=\"#ftnref4\" id=\"ftn4\" style=\"vertical-align: super;\">[4]<\/a><span style=\"font-size: 9pt; font-family: 'Arial',sans-serif;\"> Bak: <a href=\"http:\/\/kuramsalaktarim.blogspot.com.tr\/2017\/02\/turkiyenin-altinlari-ve-varlik-fonu.html\">http:\/\/kuramsalaktarim.blogspot.com.tr\/2017\/02\/turkiyenin-altinlari-ve-varlik-fonu.html<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Devletin k\u0131ymetli varl\u0131klar\u0131, yeni bor&ccedil;lanmalara teminat m\u0131 olacakt\u0131? Ge&ccedil;ti\u011fimiz g&uuml;n Ziraat Bankas\u0131, Halkbank, BOTA\u015e, T&uuml;rkiye Petrolleri AO, PTT, T&uuml;rk Hava yollar\u0131, Borsa \u0130stanbul ve T&uuml;rksat&rsquo;\u0131n sermayelerinde bulunan Hazine&rsquo;ye ait hisselerin tamam\u0131, T&uuml;rk Telekom&rsquo;un da y&uuml;zde 6.68 oran\u0131ndaki Hazine&rsquo;ye ait hissesi ile Eti Maden ve &Ccedil;aykur&rsquo;un T&uuml;rkiye Varl\u0131k Fonu&rsquo;na &nbsp;aktar\u0131ld\u0131. Ard\u0131ndan THY&rsquo;nin y&uuml;zde 49.12, Halkbank&rsquo;\u0131n da [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[198],"tags":[],"class_list":["post-4157","post","type-post","status-publish","format-standard","hentry","category-mart-2017"],"_links":{"self":[{"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/posts\/4157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/comments?post=4157"}],"version-history":[{"count":0,"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/posts\/4157\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/media?parent=4157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/categories?post=4157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.millicozum.com\/mc\/wp-json\/wp\/v2\/tags?post=4157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}