The State of the Lebanese Pound

Bandar

Well-Known Member
Orange Room Supporter
That’s far too advanced, step 1, people get back to work in lebanon rather than thawra ans closing roads... baby steps :)
i was telling my uncle today. the politicians and health officials in this country are pretending like we have the luxury of europe or americans to stop working for 2 months.

there should have never been a shutdown. the cure was worse than the problem.
 

JustLeb

Legendary Member
Orange Room Supporter
Halla2 on a serious note, the devaluation is far too excessive I think... those platforms calling the price, how are they regulated?
seriously, these platforms are aggravating the panic, not creating it.
The panic is when Lebanese tries to get a dollar but couldn't
this is the main problem that needs to be solved
solve this and those platforms will die.

take a very simple example, if you can go get $ for 1500LL would you care what these platforms are telling?
Attacking the symptoms is not solving the problem, as matter of fact they distract attention from the real problem.
This is one of the phrases that el rafi2 @Viral would love, and it is in bold too mitl ma b7ibbon albo :lol: :lol: :lol: :lol:
 

Walidos

Legendary Member
Orange Room Supporter
seriously, these platforms are aggravating the panic, not creating it.
The panic is when Lebanese tries to get a dollar but couldn't
this is the main problem that needs to be solved
solve this and those platforms will die.

take a very simple example, if you can go get $ for 1500LL would you care what these platforms are telling?
Attacking the symptoms is not solving the problem, as matter of fact they distract attention from the real problem.
This is one of the phrases that el rafi2 @Viral would love, and it is in bold too mitl ma b7ibbon albo :lol: :lol: :lol: :lol:
It doesn’t work that way... today they are treating the dollar like the goldsmiths sell gold: byottalla3 3ala the price of the ounce, he weighs the object and tells you the price. The currency dealers look at the app and tell you I want this much... BDL has completely let go of the control... so this is not only a symptom, it is a targeted attack
 
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Manifesto

Legendary Member
Orange Room Supporter
I like Aoun, I really do, but it's time to elect a better strategist. Someone who cares about the economy as much as he does about Christian seats. Dob klekishak jéddo.
 

JustLeb

Legendary Member
Orange Room Supporter
It doesn’t work that way... today they are treating the dollar like the goldsmiths sell gold: byottalla3 3ala the price of the once, he weighs the object and tells you the price. The currency dealers look at the app and tell you I want this much... BDL has completely let go of the control... so this is not only a symptom, it is a targeted attack
You are buying the FPM version.
I don't agree with it.
since May 2009 things started to deteriorate, they should have rushed to solve it then.
Many people in real life and on facebook were complaining of a shortage of $$$
Shouldn't be this something to get enough attention from the president and Bassil?
 

Walidos

Legendary Member
Orange Room Supporter
You are buying the FPM version.
I don't agree with it.
since May 2009 things started to deteriorate, they should have rushed to solve it then.
Many people in real life and on facebook were complaining of a shortage of $$$
Shouldn't be this something to get enough attention from the president and Bassil?
How? I am asking how?
 

JustLeb

Legendary Member
Orange Room Supporter
How? I am asking how?
you are pushing me to give an opinion on something I have no skills in nor control over.
it is not my job, and I have no skills in this domain.
in short, you are implying that Aoun and Bassil are noncompetent, because since Aoun took the presidency the situation started to go south until it exploded, and they could do nothing about it.
if you want to adhere to this version, it is fine with me, but personally, I go further I suspect them of sharing spoils with the rest of the mafia with some quarrels from time to time.
You are trying to corner me as if it is up to me to find the solution... I don't have it nor I know it
That's why I supported Aoun from 1988 till 2015 because I had the illusion that he has the wisdom and the power to solve such situation.
Apparently, I was wrong...
 

Manifesto

Legendary Member
Orange Room Supporter
As in I am sitting and blocking roads in the UK? I am working min il fajr lal najr :)

Wa2ta ysir el minimum salary bi UK $40 wil unemployment rate 60% (God forbid), bisir fik tnazzir 3layna ya Little Willie. But to dismiss people's outrage as laziness borders on classist. You stopped short of telling them to eat cake.
 

Manifesto

Legendary Member
Orange Room Supporter
We were braving ourselves for the next u-turn...
#allah_lebnen_aoun_wou_bass

It's because I respect him that I want him to step down. He hurt his legacy enough and is obviously not fit to be a president. If he's unable to form a government after all this time, and all these tragedies, there must be something really wrong with his approach.
Anyone who believes otherwise is in deep denial.

Time for both Hariri and Aoun to go out of the picture.
 

JustLeb

Legendary Member
Orange Room Supporter
As in I am sitting and blocking roads in the UK? I am working min il fajr lal najr :)
We are all in this mate, I work at night and on the weekends
Every 3 months btsharref el dawleh spanks me with 30% plus some other type of taxes :mad::mad::mad::mad::mad:
this is our situation
200.gif
 

Walidos

Legendary Member
Orange Room Supporter
you are pushing me to give an opinion on something I have no skills in nor control over.
it is not my job, and I have no skills in this domain.
in short, you are implying that Aoun and Bassil are noncompetent, because since Aoun took the presidency the situation started to go south until it exploded, and they could do nothing about it.
if you want to adhere to this version, it is fine with me, but personally, I go further I suspect them of sharing spoils with the rest of the mafia with some quarrels from time to time.
You are trying to corner me as if it is up to me to find the solution... I don't have it nor I know it
That's why I supported Aoun from 1988 till 2015 because I had the illusion that he has the wisdom and the power to solve such situation.
Apparently, I was wrong...
Not at all... I am exchanging ideas on what could have been done... what can be done in the future. Not trying to corner you or absolve Aoun or Bassil from anything.
If you don’t know it’s ok. personally, I think the dollar piece was very much used as a weapon and the crunch was moufta3al. Think of it on a smaller scale: I start a rumour that a bank is failing, what do you do? You rush to the bank to withdraw your money, consequently the bank fails... that’s what started late 2019, and now we are in the phase of failing. BDL accounts were not known to anyone, refer to the video of Biffani speaking to a group from Nahas’s party. And they only put the numbers together later on mid 2020 as per of the Diab government plan, and that was thwarted by the banks, the big political players and some MPs, one of which, shamefully, Ibrahim Kanaan... wether or not backed by Bassil ans Aoun I don’t know, but certainly Kanaan is. It clean in this. Anyhow I divert. Point is, the $ pressure was used as a weapon, it is still being used as a weapon, and the direction of anger is Aoun and FPM, at least this is what the rest of the political spectrum seem to want us to believe. I don’t believe it, and I certainly will blame the powers playing with the price of the dollar ahead of the ones who were unable to stop the fire, namely, SALAMEH and his backers Berri, Joumblat, Hariri... HA is sitting on the sidelines eating popcorn and watching the show.
 

JustLeb

Legendary Member
Orange Room Supporter
Not at all... I am exchanging ideas on what could have been done... what can be done in the future. Not trying to corner you or absolve Aoun or Bassil from anything.
If you don’t know it’s ok. personally, I think the dollar piece was very much used as a weapon and the crunch was moufta3al. Think of it on a smaller scale: I start a rumour that a bank is failing, what do you do? You rush to the bank to withdraw your money, consequently the bank fails... that’s what started late 2019, and now we are in the phase of failing. BDL accounts were not known to anyone, refer to the video of Biffani speaking to a group from Nahas’s party. And they only put the numbers together later on mid 2020 as per of the Diab government plan, and that was thwarted by the banks, the big political players and some MPs, one of which, shamefully, Ibrahim Kanaan... wether or not backed by Bassil ans Aoun I don’t know, but certainly Kanaan is. It clean in this. Anyhow I divert. Point is, the $ pressure was used as a weapon, it is still being used as a weapon, and the direction of anger is Aoun and FPM, at least this is what the rest of the political spectrum seem to want us to believe. I don’t believe it, and I certainly will blame the powers playing with the price of the dollar ahead of the ones who were unable to stop the fire, namely, SALAMEH and his backers Berri, Joumblat, Hariri... HA is sitting on the sidelines eating popcorn and watching the show.

yes this is the analysis is widely spread.
I have pointed fingers at Ibrahim Kanaan early on, but few fpmers supported it, now it has become mainstream among them probably an attempt to save the skin of Bassil I don't know.
your post while very good is only explaining the problem (like I did) it does not tell what should Aoun do or should have done to avert or solve the crisis.
do you remember 1988 ??
he used to do a press conf every 2weeks to explain to the people what is happening.
when he is late, people started to become anxious.
since he became president, he went into a coma, big things happened and he didn't show any sign that he is in control...

PS. except operation Fajr El Jouroud and the kidnapping of Hariri which I praised him and Bassil on their reaction.

you asked me what should he have done differently, probably by starting to imitate himself and speak directly to the people so that the message passes directly and not via channels, plus it gives the impression that he is still in control.
A second thing he should have done is to push bassil to backstage
whether right or wrong this man is toxic to him and toxic to the FPM.
 

Bandar

Well-Known Member
Orange Room Supporter
Not at all... I am exchanging ideas on what could have been done... what can be done in the future. Not trying to corner you or absolve Aoun or Bassil from anything.
If you don’t know it’s ok. personally, I think the dollar piece was very much used as a weapon and the crunch was moufta3al. Think of it on a smaller scale: I start a rumour that a bank is failing, what do you do? You rush to the bank to withdraw your money, consequently the bank fails... that’s what started late 2019, and now we are in the phase of failing. BDL accounts were not known to anyone, refer to the video of Biffani speaking to a group from Nahas’s party. And they only put the numbers together later on mid 2020 as per of the Diab government plan, and that was thwarted by the banks, the big political players and some MPs, one of which, shamefully, Ibrahim Kanaan... wether or not backed by Bassil ans Aoun I don’t know, but certainly Kanaan is. It clean in this. Anyhow I divert. Point is, the $ pressure was used as a weapon, it is still being used as a weapon, and the direction of anger is Aoun and FPM, at least this is what the rest of the political spectrum seem to want us to believe. I don’t believe it, and I certainly will blame the powers playing with the price of the dollar ahead of the ones who were unable to stop the fire, namely, SALAMEH and his backers Berri, Joumblat, Hariri... HA is sitting on the sidelines eating popcorn and watching the show.

This is not what happened. The banks have for years been offering interest rates on savings that exceeded even the best performing index funds... the problem is that the banks were never making that much money. The entire banking sector was being run like a Ponzi scheme. It's so embarrassing and shameful. We are really the most corrupt country in existence.
 

Danny Z

Legendary Member
i was telling my uncle today. the politicians and health officials in this country are pretending like we have the luxury of europe or americans to stop working for 2 months.

there should have never been a shutdown. the cure was worse than the problem.
having a lot of people die and hospitals full of people sick with covid is worldwide problem and not only in Lebanon. the shutdowns were needed for public health purposes and 2 months bill zeyed or na2es wont have changed anything in the Lebanese economy. This problem of ponzi started in the Nineties.
 

Walidos

Legendary Member
Orange Room Supporter
This is not what happened. The banks have for years been offering interest rates on savings that exceeded even the best performing index funds... the problem is that the banks were never making that much money. The entire banking sector was being run like a Ponzi scheme. It's so embarrassing and shameful. We are really the most corrupt country in existence.
The banks were lending the state, at very high rates, they are owed 2/3rd of our national debt. The state never made any money, never stopped subsidising key sectors at a huge loss and spent all the money on tenfi3at instead of building a functioning economy. The BDL wiped the losses of the government off their books by hiding them under a shady others section and kept lending the state. The MoF who owns the governance of the state finances was busy using his signature for political spite and favours, and the governor of the BDL never bothered sharing any info with anyone who wanted to fix things, all the while he and his friends made shit loads of money, siphoning state funds, which were really depositors funds...
 

Danny Z

Legendary Member
The banks were lending the state, at very high rates, they are owed 2/3rd of our national debt. The state never made any money, never stopped subsidising key sectors at a huge loss and spent all the money on tenfi3at instead of building a functioning economy. The BDL wiped the losses of the government off their books by hiding them under a shady others section and kept lending the state. The MoF who owns the governance of the state finances was busy using his signature for political spite and favours, and the governor of the BDL never bothered sharing any info with anyone who wanted to fix things, all the while he and his friends made shit loads of money, siphoning state funds, which were really depositors funds...
And they are all still sitting around without any capital control, so they can still siphon whatever is left. What does it take to remove Salameh short of people storming his house, who can fire him?
 
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