Hassan Diab Government [IMF Negotiations Officially Underway]

SoFP1

SoFP1

The Chosen One
Orange Room Supporter
8.4B a year? Are we sure about that number?
Fuel is largest around $5B yearly (with subsidizing - da3em), $1.5B yearly for Pharma and medical supplies. That's $6.5B. There remains wheat and the basket of goods "salle". $8.5B is not far off but the "salle" would be the smallest contributor. They are freaking exaggerating.
 
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  • Danny Z

    Danny Z

    Legendary Member
    I wont mind if we replace the Lira with the Euro. Not the dollar though. The dollar is a currency without value. A balloon that will eventually burst and have a pitiful fall. It isnt backed up by production or enough gold.
    Its time to get rid of the Lira and substitute our currency to Euro or USD. Our institutional thieves use the Lebanese Lira to steal peoples savings and lower salaries and investment income. All this without conscious and mercy.

    Substitution of Currency should be high on peoples agenda, and is the only way to secure future investments. The Lira is worthless and cannot be used in the shadow of corruption. it would also allow people to use overseas online banks in Lebanon without any fear of BDL or the government. Lebanese banks using foreign currency would not be able to rely on BDL for insurance. They will need to seek western banks insurances at a slightly higher cost which is a win win for the lebanese. Its a real tender. BDL , the existing banks and the Government can go and ***ck themselves for all I care.
    you too need classes in macroeconomy.
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    you too need classes in macroeconomy.
    lool.. dont take yourself too seriously.. I don't believe that anyone in Lebanon is capable of managing the economy. You always believe you have a solution but you are part of a pissing contest. If you have corruption, the Lira will never be stable. Its the chicken before the egg story.
    When its impossible to fix, you change the currency, examples, Ecuador and El Salvador in Latin America and Zimbabwe in Africa. Greece is different, they wanted to retire at 50 and have the european union fund their lifestyle. That didnt work either.

    Our currency was fixed to the dollar and they kept printing Lira. Does that need an economic degree. Having people loose all their life savings in banks is criminal. The Lebanese should start a class action in the USA and put claims on the Lebanese gold reserves. They will always find a Judge who will understand their plight and give it back.

    Your ideas and books are worthless in Lebanon. Innou to fix electricity infrastructure for 20 years and we still don't know the real scope or cost. Books can solve it in a month. Under corruption, the twist and turns are like a movie script of the God Father.

    Furthermore, there are many Lebanese investors that have given up on Lebanon. The millions they loose in investment returns has hit them hard. You can bet that tourism and investment will shrink and probably wont recover for at least 5 to 10 years. Then you have a strong Assad and Israel at your doorstep and HA protecting corruption. They feed on each other. The future is looking grim.
     
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    Danny Z

    Danny Z

    Legendary Member
    lool.. dont take yourself too seriously.. I don't believe that anyone in Lebanon is capable of managing the economy. You always believe you have a solution but you are part of a pissing contest. If you have corruption, the Lira will never be stable. Its the chicken before the egg story.
    When its impossible to fix, you change the currency, examples, Ecuador and El Salvador in Latin America and Zimbabwe in Africa. Greece is different, they wanted to retire at 50 and have the european union fund their lifestyle. That didnt work either.

    Our currency was fixed to the dollar and they kept printing Lira. Does that need an economic degree. Having people loose all their life savings in banks is criminal. The Lebanese should start a class action in the USA and put claims on the Lebanese gold reserves. They will always find a Judge who will understand their plight and give it back.

    Your ideas and books are worthless in Lebanon. Innou to fix electricity infrastructure for 20 years and we still don't know the real scope or cost. Books can solve it in a month. Under corruption, the twist and turns are like a movie script of the God Father.

    Furthermore, there are many Lebanese investors that have given up on Lebanon. The millions they loose in investment returns has hit them hard. You can bet that tourism and investment will shrink and probably wont recover for at least 5 to 10 years. Then you have a strong Assad and Israel at your doorstep and HA protecting corruption. They feed on each other. The future is looking grim.
    You still have no idea.... zero knowledge about currency and the economy. You don’t want to peg the currency to the dollar yet you want to make the dollar your currency because it it stable, now you need to explain to us genius where you want to get hat dollar to make it your currency when all you do is import while you are not allowed to print it as printing is irrelevant to your economy need, and this is the essence of currencies that you do not seem to have any grasp on.
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    You still have no idea.... zero knowledge about currency and the economy.
    BLaaa Blaaa...
    You don’t want to peg the currency to the dollar yet you want to make the dollar your currency because it it stable, now you need to explain to us genius where you want to get hat dollar to make it your currency when all you do is import while you are not allowed to print it as printing is irrelevant to your economy need, and this is the essence of currencies that you do not seem to have any grasp on.
    It is clear Lebanese style. Never think by yourself. Printing currency without growing your economy is devaluation isnt it ???!1
    You are a typical lebanese full of crap and want to sound intelligent.. Is that an idea ? Yalla go read a book and discuss with your mates and come back..
    Having BDL out of control and working for the rich buffoons is facilitating corruption.
     
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    Walidos

    Walidos

    Legendary Member
    Orange Room Supporter
    You still have no idea.... zero knowledge about currency and the economy. You don’t want to peg the currency to the dollar yet you want to make the dollar your currency because it it stable, now you need to explain to us genius where you want to get hat dollar to make it your currency when all you do is import while you are not allowed to print it as printing is irrelevant to your economy need, and this is the essence of currencies that you do not seem to have any grasp on.
    really, why do we bother? There is simply no desire to listen... just utter nonsense and nag....
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    Has the parliament legalised cannabis. I heard it was on the table and being discussed. I guess its better than growing potatoes.. Lebanon exports 6% of the world's cannabis in marijuana resin form but its illegal in Lebanon. Apparently HA are opposing it still. They prefer existing channels.
     
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    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    really, why do we bother? There is simply no desire to listen... just utter nonsense and nag....
    Have we solved the electricity yet ? or we have grown our horizon and decimated the entire economy.
     
    The_FPMer

    The_FPMer

    Active Member
    When the cameraman is having a bad day and wants to troll someone:


     
    opium

    opium

    Well-Known Member
    As long as there are no trust with the Lebanese banks and BDL the LBP have no ceiling and will keep devaluating.
    We import much more than we export. Maybe 95 % more taking into consideration that what we export is mostly produced from imported primary materials.
    What was holding the LBP before were the foreign loans which were injected in the economy and the deposits of expats in the Lebanese banks. Now not a sane Lebanese will deposit his money in banks especially in USD.
    There is no short term solution for our problem, we cannot borrow money anymore and trust will not come back to the Lebanese banks easily.

    We are doomed and our currency will keep devaluating until we start extracting oil/gas and sell it in USD. And until we empower our tourism sector.
    Meanwhile automatically agriculture and local industries will flourish due to lack of usd to import similar products. For example it will be less costly to plant tomatoes than to buy it with usd from outside, as you will be buying the usd from the black market at double the rate.
    And hopefully in 10-15 years our import /export will balance.
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    So the short term solution is to keep a big safe in your house with gold, USD's or Bitcoins in it. And buy realestate whenever the total increases. Its like the civil war days. What about salaries especially in the public service ? This may be the opportunity to half the numbers.
     
    Walidos

    Walidos

    Legendary Member
    Orange Room Supporter
    Have we solved the electricity yet ? or we have grown our horizon and decimated the entire economy.
    No we Are waiting for the 6 million experts in everything that live in lebanon to blog and tweet the shit out of our problems :)
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    No we Are waiting for the 6 million experts in everything that live in lebanon to blog and tweet the shit out of our problems :)
    You need 6 million Lebanese to run a corrupt country, but only half a dozen to run a normal country the size of Lebanon with half its real income from expats and tourism..
     
    Walidos

    Walidos

    Legendary Member
    Orange Room Supporter
    You need 6 million Lebanese to run a corrupt country, but only half a dozen to run a normal country the size of Lebanon with half its real income from expats and tourism..
    Well there are a half dozen trying to run the country, yet there are 6 million who believe they can do better, although they admit they are not experts in most of the issue at hand... but yeah!
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    Well there are a half dozen trying to run the country, yet there are 6 million who believe they can do better, although they admit they are not experts in most of the issue at hand... but yeah!
    Anyone can do better. Expert is overrated. They steal your money and you clap and back them up with data . You route for the experts.
     
    Walidos

    Walidos

    Legendary Member
    Orange Room Supporter
    Anyone can do better. Expert is overrated. They steal your money and you clap and back them up with data . You route for the experts.
    Wala yhimmak, go get an electrician to cook at your restaurant and a cook to do your plumbing... but please, don’t come complain when you eat crap and don’t have a bucket to piss in :)
     
    lebnan_lilkel

    lebnan_lilkel

    Legendary Member
    Orange Room Supporter
    Wala yhimmak, go get an electrician to cook at your restaurant and a cook to do your plumbing... but please, don’t come complain when you eat crap and don’t have a bucket to piss in :)
    illi biyesma3ak ya walid, he thinks we are in heaven but we don't know what we want. The problems are very simple. Rakez shway. The thieves are happy and comfi. they transferred their money and BDL will not provide their names. Rouh Balit elbaher. Tili3 ma3ak elha2 3layi. But now people are begging for money to feed their families and educate their children. My accounts in Lebanon have dried up. Please try your best as it seems you are smarter than me, and never invested in Lebanon.
     
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