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The Need For All Pro-Resistance Lebanese to Abandon the Use of the American Dollar in and out of Lebanon

Rafidi

Legendary Member
ur not understanding. it is not about converting. lol
banks buy their foreign reserves in dollars.

I am not talking about banks. Our banks are screwed already.

I am talking about people. Convert your money to Euro and Pounds and Yuan. Flood our banks with other international currencies.
 

Rafidi

Legendary Member
Please talk about yourself
We Crusader we love dollar
But please do it if you can

By the time about half or more than half (60%) of Lebanese have their savings in Euro, Pounds and Yuan among other currencies, the end of the dollar stranglehold on our economy. It will reduce demand for dollars and our dependency on it will reduce as well.
 

Thawra # Furoshima

Well-Known Member
By the time about half or more than half (60%) of Lebanese have their savings in Euro, Pounds and Yuan among other currencies, the end of the dollar stranglehold on our economy. It will reduce demand for dollars and our dependency on it will reduce as well.
Ok do it we are waiting like for the day Nasro servant of Khameiny lead you with Khameiny his Hussein to liberate the holy land
 

The_FPMer

Well-Known Member
By the time about half or more than half (60%) of Lebanese have their savings in Euro, Pounds and Yuan among other currencies, the end of the dollar stranglehold on our economy. It will reduce demand for dollars and our dependency on it will reduce as well.
Ma by2balo el banks.
 

!Aoune32

Well-Known Member
I am not talking about banks. Our banks are screwed already.

I am talking about people. Convert your money to Euro and Pounds and Yuan. Flood our banks with other international currencies.

buddy the euro has high fluctuation it is not a safe bet. even china buys the US dollar as it is its main export partner. i spoke to a person in china and vietnam about buying products for a business they exchange in the US dollar buddy. they dont exchange in their currency.
 

Rafidi

Legendary Member
buddy the euro has high fluctuation it is not a safe bet. even china buys the US dollar as it is its main export partner. i spoke to a person in china and vietnam about buying products for a business they exchange in the US dollar buddy. they dont exchange in their currency.

Why do I feel you sound scared?

You're clutching at straws.
 

Nonan

Legendary Member
Orange Room Supporter
You can (should?) use Lebanese Pounds in most if not all your transactions in Lebanon. This is what I did while I was here this summer, simply for a very practical reason, I was told there was a high premium for hard currency ($, euro) cash so didn’t want to waste that.
So if you’re talking about paying in Lebanese pounds vs USD, absolutely you should and there is no downside. If you’re talking about your savings, then you are running the risk of a huge FX exposure should the Lebanese pound collapse. You could put your cash savings in euros but the interest rate you’d get is lower.
Having said all that, even if the entire country did the above it would make 0 impact on the USD.
 

Nonan

Legendary Member
Orange Room Supporter
By the time about half or more than half (60%) of Lebanese have their savings in Euro, Pounds and Yuan among other currencies, the end of the dollar stranglehold on our economy. It will reduce demand for dollars and our dependency on it will reduce as well.
No. It has nothing to do with that. Whether we like it or not, as long as 1) our foreign debt is denominated in $ and
2) more importantly, international trade is essentially a $ game, our economy will be dependent on $... if we want to trade with the world that is.
Witness the European attempts at helping Iran circumvent the US treasury sanctions
 

opium

Well-Known Member
We can convert dollars to Euros, can't we?
It is not as easy as you think. Even Iran couldn't get rid of the USD.
I will give you an example. In Iraq the official exchange rate is approx 1 USD = 1190 IQD. Go and buy USD from the market, best exchange you can get is IQD 1250 per 1 usd and sometimes you pay IQD 1350 even at banks.
This is because all the USD in the market is collected by the exchange offices and sent to Iran. No Matter how much the Iraqian central bank buys USD or have in reserve.
 

!Aoune32

Well-Known Member
It is not as easy as you think. Even Iran couldn't get rid of the USD.
I will give you an example. In Iraq the official exchange rate is approx 1 USD = 1190 IQD. Go and buy USD from the market, best exchange you can get is IQD 1250 per 1 usd and sometimes you pay IQD 1350 even at banks.
This is because all the USD in the market is collected by the exchange offices and sent to Iran. No Matter how much the Iraqian central bank buys USD or have in reserve.

he doesnt get it
 

Rafidi

Legendary Member
It is not as easy as you think. Even Iran couldn't get rid of the USD.
I will give you an example. In Iraq the official exchange rate is approx 1 USD = 1190 IQD. Go and buy USD from the market, best exchange you can get is IQD 1250 per 1 usd and sometimes you pay IQD 1350 even at banks.
This is because all the USD in the market is collected by the exchange offices and sent to Iran. No Matter how much the Iraqian central bank buys USD or have in reserve.

Imagine if they would buy Euros instead...its mostly financial psychology involved. There is virtually nothing you can use the dollar to buy in international trade that you can't use the Euro for it. It's all possible if the will and the mental readiness is there. I believe in Lebanon we have the leadership to do that. Its financial emancipation, no matter how hard.
 

!Aoune32

Well-Known Member
Imagine if they would buy Euros instead...its mostly financial psychology involved. There is virtually nothing you can use the dollar to buy in international trade that you can't use the Euro for it. It's all possible if the will and the mental readiness is there. I believe in Lebanon we have the leadership to do that. Its financial emancipation, no matter how hard.

will never happen
 

Rafidi

Legendary Member
will never happen

When there's less demand, the banks will have more dollars in reserve. Less dependent. It isn't just a political gesture but also an economic one. When there's more demand for dollars than what banks can supply, the value/price of the dollar will increase. Simple economics.
 
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