From the sources you quote: "In common modern usage, it specifically implies an official lowering of the value of a country's currency within a fixed exchange rate system, by which the monetary authority formally sets a new fixed rate with respect to a foreign reference currency" Read the words fixing and official. That is not free market.
ALL central banks buy/sell their currencies to make the exchange rate artificially higher/lower. A clear manipulation. Therefore a completely free market (by-the-book definition) just doesn't exist. If you trade forex you should know this: When central banks trade, not even George Soros may go against them. Central banks have extremely deep pockets.
He and others have gone against them a number of times and if the speculative and true economic pressures get high enough the Cent. Banks give in. Examples include the UK, Indonesia, Thailand, Malaysia. Your point though about the lack of a true free market in FX is very valid and true.
I am sorry but I did not call you any such thing. Turkey is in Europe. It is a fact. Anyone who says otherwise have a reason. If you side with this, it is your problem not mine. As for the word devaluation, there is no such thing in a free market. Devaluation implies/means price fixing by an authority. Therefore you can not have a free market and devaluation. Depreciation is possible word in a free market. But devaluation, I am afraid, only someone who does not understand the word or have a prejudice in mind would use the word. In addition, why would anyone warn about devaluation if he/she means depreciation? Price change is a reality in any security. So what is the reason for the comment about devalution in the first place? I still do not know if the Lira is traded in a free market or not.
Nobody in this thread -except you, riskfreetrading- has said anything supporting/against Turkey, Europe or Muslims. You come up calling people racist, eurotrash, etc. Finally Muslim extremism here at ET! BTW I'm sick of this dumb discussion, later...
You may want to watch a show by Charlie Rose on PBS with the French President. You should be able to see that a fair minded guy like Charlie has checkmated Sarkozy on the Turkey question. This country (USA) rightly supports the point of view that Turkey is in Europe. I believe that Turkey will be one day part of the market in europe as no one can stop market forces despite what they may harbor as point of view/etc.
Are you also insane? If I were you, I'd consider psychiatric treatment. When someone mentions the risks of a particular trade, it does not make them a racist. If I'm long the JPY carry trade, does that mean I hate Japanese people and think they shouldn't be part of Asia? Take a pill, for our benefit and yours.
I am sorry the question was devaluation! You can not have both a free market and devaluation. It is an impossibility. Who is in his right mind? You or I. I use the word devaluation as defined. You misuse it. Is it my problem if you do?