The State of the Lebanese Pound

[TayyarBeino]

 

[TayyarBeino]

22:33​

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مصرف لبنان طلب بقرار من الصرّافين اعتبارا ًمن الإثنين اعتماد سعر صرف الدولار 3200 ليرة​

 

[GrumpForTrump]

I just found out that the Lira has its own Twitter account.

 

[coralie]

One of the ali baba gang is kindly informing us . Alla la ywafe2kon .
A
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اللواء: يقف الرئيس نبيه بري وفريقه الوزاري في الوسط، بين مآخذ على أداء الحاكم رياض سلامة ورفض لإقالته، نظراً لما يمكن أن يسفر عنه الشغور من مخاطر كارثية على النقد وأموال المودعين، والتدهور المريع، لسعر صرف الليرة، الذي يمكن أن يصل الى 15000 ليرة لبنانية، وفقاً لما نقل عن الرئيس نبيه بري.
اللواء​

 

[The_FPMer]

One of the ali baba gang is kindly informing us . Alla la ywafe2kon .
A
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اللواء: يقف الرئيس نبيه بري وفريقه الوزاري في الوسط، بين مآخذ على أداء الحاكم رياض سلامة ورفض لإقالته، نظراً لما يمكن أن يسفر عنه الشغور من مخاطر كارثية على النقد وأموال المودعين، والتدهور المريع، لسعر صرف الليرة، الذي يمكن أن يصل الى 15000 ليرة لبنانية، وفقاً لما نقل عن الرئيس نبيه بري.
اللواء​

He's right, firing Riad Salemeh will create chaos because you'll have a central bank without a chairman. That's why PMA and Diab should secretly agree on a name and indirectly promote him in the media as the competent savior that can restabilize the Lira and therefore outsmarting Salemeh's allies and nullifying their argument.

 

[dyyyy]

He's right, firing Riad Salemeh will create chaos because you'll have a central bank without a chairman. That's why PMA and Diab should secretly agree on a name and indirectly promote him in the media as the competent savior that can restabilize the Lira and therefore outsmarting Salemeh's allies and nullifying their argument.

That's partly true, they should do this but the BDL governor doesn't do magic.

The real savior should be the government by starting to apply am economic plan, the deputies putting laws and stopping the banks from acting on their own (at least to make these transfers abroad that we all complain about illegal)

The worst part of the last cabinet meeting is that absolutely nothing was related to the crisis we're having

So yes it's a very good step to fire Salemeh but there are a lot of things to do in parallel.

 

[The_FPMer]

That's partly true, they should do this but the BDL governor doesn't do magic.

The real savior should be the government by starting to apply am economic plan, the deputies putting laws and stopping the banks from acting on their own (at least to make these transfers abroad that we all complain about illegal)

The worst part of the last cabinet meeting is that absolutely nothing was related to the crisis we're having

So yes it's a very good step to fire Salemeh but there are a lot of things to do in parallel.

Yes of course, political leaders could have invested the loaned money in building a competitive economy but humiliating and impoverishing the Lebanese to keep them in the fold begging for crumbs was their MO.

 

[Dr. Strangelove]

مباشرة قوى الأمن تنفيذ تعميم حاكم مصرف لبنان وتوقيف أكثر من 10 صرافين

صدر عـن المديرية العامة لقوى الأمن الداخلي - شعبة العلاقات العامة ما يلي:

"باشرت جميع قطعات قوى الامن الداخلي الإقليمية على كافة الأراضي اللبنانية بتنفيذ مضمون تعميم حاكم مصرف لبنان "وسيط رقم 553" بتاريخ 27/04/2020 بناءً لإشارة النيابة العامة التمييزية، وهي تعمل على توقيف الصرافين غير المرخّصين، والصرافين المرخّصين الذين يخالفون هذا التعميم وختم محلاتهم بالشمع الأحمر.

مع الإشارة إلى أنه ولغاية الآن تم توقيف أكثر من 10 صرافين، والإجراءات مستمرة في ملاحقة باقي المخالفين".

مباشرة قوى الأمن تنفيذ تعميم حاكم مصرف لبنان وتوقيف أكثر من 10 صرافين

<p>صدر عـن المديرية العامة لقوى الأمن الداخلي - شعبة العلاقات العامة ما يلي:</p> <p> </p> <p>"باشرت جميع قطعات قوى الامن الداخلي الإقليمية على كافة الأراضي اللبنانية بتنفيذ مضمون تعميم حاكم مصرف لبنان "وسيط رقم 553" بتاريخ 27/04/2020 بناءً لإشارة النيابة العامة التمييزية، وهي تعمل على توقيف...

www.mtv.com.lb

 

[Rafidi]

One of the ali baba gang is kindly informing us . Alla la ywafe2kon .
A
-

اللواء: يقف الرئيس نبيه بري وفريقه الوزاري في الوسط، بين مآخذ على أداء الحاكم رياض سلامة ورفض لإقالته، نظراً لما يمكن أن يسفر عنه الشغور من مخاطر كارثية على النقد وأموال المودعين، والتدهور المريع، لسعر صرف الليرة، الذي يمكن أن يصل الى 15000 ليرة لبنانية، وفقاً لما نقل عن الرئيس نبيه بري.
اللواء​

The excuse for not sacking him before was the stability of the lira. Today, it is 4000 to a dollar.

Now, the excuse for not sacking him is for the lira not to drop to 15,000 to a dollar.

What excuse would they give when its drops to 15,000 to a dollar?

Isnt it obvious they're using the currency through the central bank to stage a coup against Diab's government and pave way for the old corruption gang to return to govt? It is mostly political manipulation than economic decline.

 

[Dr. Strangelove]

The excuse for not sacking him before was the stability of the lira. Today, it is 4000 to a dollar.

Now, the excuse for not sacking him is for the lira not to drop to 15,000 to a dollar.

What excuse would they give when its drops to 15,000 to a dollar?

Isnt it obvious they're using the currency through the central bank to stage a coup against Diab's government and pave way for the old corruption gang to return to govt? It is mostly political manipulation than economic decline.

I think when to sack Salemeh has become a strategic choice, now. I think it's a matter of "when", not "if".

Take last week. If Salemeh was sacked right then and there (we all would have loved that), he would have been made into a political martyr. Any evidence against him would have been discredited and politicized. Instead, he still has the job but is being audited by international corporations... And public opinion is breathing down his neck while praising Diab. In retrospect, this seems like the better approach for now.

 

[Dr. Strangelove]

معلومات
mtv:
ارتفاع عدد الصرّافين الموقوفين اليوم الى ١٤

 

[Rafidi]

I think when to sack Salemeh has become a strategic choice, now. I think it's a matter of "when", not "if".

Take last week. If Salemeh was sacked right then and there (we all would have loved that), he would have been made into a political martyr. Any evidence against him would have been discredited and politicized. Instead, he still has the job but is being audited by international corporations... And public opinion is breathing down his neck while praising Diab. In retrospect, this seems like the better approach for now.

Yes, for now. Fulfilling all righteousness is one thing. But we do know for sure he is a snake and covering up for the filthy rich elites who are fleeing the country. All the banks are owned by politicians. The same politicians who appointed Salameh. So why wont these banks connive with Salameh to benefit the politicians that own the banks and employed Salameh, at the expense of the general populace, especially now that those politicians are not in govt.

As you have said, it is now a matter of when would be right and the timing to fire him and it needs to be strategic timing. I hope the govt would stay woke and get the timing right to get rid of him. And he shouldn't walk free. Banning him from travelling out of Lebanon and seizing his passports should be in order until he is charged and can face justice for his financial crimes, corruption and excesses, when proven.

 

[Dr. Strangelove]

Yes, for now. Fulfilling all righteousness is one thing. But we do know for sure he is a snake and covering up for the filthy rich elites who are fleeing the country. All the banks are owned by politicians. The same politicians who appointed Salameh. So why wont these banks connive with Salameh to benefit the politicians that own the banks and employed Salameh, at the expense of the general populace, especially now that those politicians are not in govt.

As you have said, it is now a matter of when would be right and the timing to fire him and it needs to be strategic timing. I hope the govt would stay woke and get the timing right to get rid of him. And he shouldn't walk free. Banning him from travelling out of Lebanon and seizing his passports should be in order until he is charged and can face justice for his financial crimes, corruption and excesses, when proven.

I'm not an expert on law, but I wouldn't be surprised if the judiciary did exactly that - provided they gather the evidence to back it up, of course.

Incidentally, it seems some higher ups in one of our dear banks have been forbidden to travel. It's in Justice Developments thread:

The Justice Thread

www.oroom.org

 

[The_FPMer]

And he shouldn't walk free. Banning him from travelling out of Lebanon and seizing his passports should be in order until he is charged and can face justice for his financial crimes, corruption and excesses, when proven.

Baddak ta3mello jalta la Marcel Ghanem?

 

[Joe tayyar]

I think when to sack Salemeh has become a strategic choice, now. I think it's a matter of "when", not "if".

Take last week. If Salemeh was sacked right then and there (we all would have loved that), he would have been made into a political martyr. Any evidence against him would have been discredited and politicized. Instead, he still has the job but is being audited by international corporations... And public opinion is breathing down his neck while praising Diab. In retrospect, this seems like the better approach for now.

Salemeh should not be sacked, he should be brought to trial in his position,as far as i know, he will be having a press conf on Wednesday, also he should not have this press conf before presenting the balance sheet from 1993, not a 3 A4 papers.
Imo salemeh will be dragged to court and lots og heads will roll after him!

 

[Mrsrx]

Salemeh should not be sacked, he should be brought to trial in his position,as far as i know, he will be having a press conf on Wednesday, also he should not have this press conf before presenting the balance sheet from 1993, not a 3 A4 papers.
Imo salemeh will be dragged to court and lots og heads will roll after him!

Lets not forget his brother that is still to this day getting comission whevener we order LBP printing. He was the middle man in the deal with the printing company and still gets a % on every order

Cable: 07BEIRUT352_a

wikileaks.org

Salameh signed a contract with Canadian firm British-American Banknote for printing the new Lebanese currency when be became BDL Governor in the early nineties. Salameh,s brother, Raja, is involved in the deal along with former Syrian Vice President Khaddam,s son, Jamal. Raja Salameh earned a commission on the deal then, and continues to earn a commission to date every time new banknotes are printed (as the quality of the paper is not good and the new currency has to be replaced every few years). Riad Salameh has sponsored his son-in-law Chafic Abillamah in the BDL Legal Department and in his private law firm's legal business with banks.

Bifani told us that Salameh violated Lebanese law when the BDL issued long term monetary instruments at high interest rates that have mainly benefited financial institutions. He also noted that Salameh has been hiding the deficit in BDL's books by settling high interest MOF debt and reissuing lower interest debt in the BDL's portfolio. Salameh decides unilaterally on interest rate policies, although by law is required to do so in concert with the MOF.

edit: added the text as its important.

 

[The_FPMer]

Lets not forget his brother that is still to this day getting comission whevener we order LBP printing. He was the middle man in the deal with the printing company and still gets a % on every order

Cable: 07BEIRUT352_a

wikileaks.org

Salameh signed a contract with Canadian firm British-American Banknote for printing the new Lebanese currency when be became BDL Governor in the early nineties. Salameh,s brother, Raja, is involved in the deal along with former Syrian Vice President Khaddam,s son, Jamal. Raja Salameh earned a commission on the deal then, and continues to earn a commission to date every time new banknotes are printed (as the quality of the paper is not good and the new currency has to be replaced every few years). Riad Salameh has sponsored his son-in-law Chafic Abillamah in the BDL Legal Department and in his private law firm's legal business

I wish people would remember that everytime Jamil Al-Sayed says that the Syrians and its allies handled security and Hariri and his clique the economy.

 

[Rafidi]

I wish people would remember that everytime Jamil Al-Sayed says that the Syrians and its allies handled security and Hariri and his clique the economy.

Jamil el Sayyed spent four years in prison, on trumped up charges. It wont be bad to see some other people spend even 6 months in prison on charges they would more than likely be found guilty.

The security sector is now in Lebanese hands. Syria is gone. But the mafia controlling out economic and stealing from our pockets are still in control. They dont want to leave.

 

[GrumpForTrump]

Jamil el Sayyed spent four years in prison, on trumped up charges. It wont be bad to see some other people spend even 6 months in prison on charges they would more than likely be found guilty.

The security sector is now in Lebanese hands. Syria is gone. But the mafia controlling out economic and stealing from our pockets are still in control. They dont want to leave.

Trumped up charges? Maybe on that specific case.

But he deserves a life sentence for having been complicit in Syria's occupation of Lebanon, and beating and torturing anti-Syrian protesters.
He's the scum of the scum.

But the mafia controlling out economic and stealing from our pockets are still in control. They don't want to leave.

That's rich, coming from the guy who not so long ago expressed his admiration for Berri, and is willing to tolerate him for another 10 or 20 years to avoid Shiite bloodshed.

 

[coralie]

The excuse for not sacking him before was the stability of the lira. Today, it is 4000 to a dollar.

Now, the excuse for not sacking him is for the lira not to drop to 15,000 to a dollar.

What excuse would they give when its drops to 15,000 to a dollar?

Isnt it obvious they're using the currency through the central bank to stage a coup against Diab's government and pave way for the old corruption gang to return to govt? It is mostly political manipulation than economic decline.

Of course it is a political manipulation even a 9 year old boy know this ugly truth .