The State of the Lebanese Pound

Viral

Active Member
The sky is the limit for the devaluation of the lira till it reaches its real value for a country that doesn’t have a solid economy.
The systematic destruction of the local currency is engineered like twisting someone’s arm to make them kneel.

They’re basically evaporating the people’s financial security which is as painful as blowing someone’s roof top during a storm.

Fortunately, they cannot stop the source of income from the expatriates who will not let their families starve and unlike any other country Lebanon’s expatriates outnumber its local citizen. There is so much the butchers can do until they give up and leave us alone.
 

HalaMadrid

Well-Known Member
Orange Room Supporter
I wasn't talking about the book.

I was talking about @Viral 's conspiracy world view of American imperialism and foreign interference in Lebanese affairs.

It's America's fault that the lira is 15000 to 1 USD.
I see. I mean, I think there are differences between saying "the lira depreciation is America's fault" and "there are geopolitical reasons why the economy--aided and abetted by local actors--was set up to depend entirely on donors." And why that set up is the direct reason for collapse. But, anyway, I highly recommend the book. It's excellent and enlightening on disaster capitalism. It doesn't solve the sinking hole today, obviously. Just a good picture of root cause.
 

Viral

Active Member
The question remains, how are they going to disarm Hezbollah by starving the all the people and causing social unrest once GMA term expires…

Poor Sa3doon, MBS is hanging him to dry and sending him to confront Hezbollah after Israel failed to do the job. No wonder why he’s mad at Bassil; he would have been better off if Bassil let MBS shred him to pieces like Khashoggi instead of letting him live trapped in a rat's hole…
 
I see. I mean, I think there are differences between saying "the lira depreciation is America's fault" and "there are geopolitical reasons why the economy--aided and abetted by local actors--was set up to depend entirely on donors." And why that set up is the direct reason for collapse. But, anyway, I highly recommend the book. It's excellent and enlightening on disaster capitalism. It doesn't solve the sinking hole today, obviously. Just a good picture of root cause.

I'll add it to my goodreads list!
 

Joe tayyar

Legendary Member
Orange Room Supporter
Btitzakaro el dikanjeh li ken ya3mol 7sebeto 3a afa kartounit el “marboro”? Eh heik 3am bi seer bil lbp against the dollar!
El dollar today at 25,000, wazi3ouwa w shoofo el 3alam keef bitdewalo 3a hal si3ir!
Thats what the platforms are doing!
 

Viral

Active Member
Btitzakaro el dikanjeh li ken ya3mol 7sebeto 3a afa kartounit el “marboro”? Eh heik 3am bi seer bil lbp against the dollar!
El dollar today at 25,000, wazi3ouwa w shoofo el 3alam keef bitdewalo 3a hal si3ir!
Thats what the platforms are doing!
They declare the rate from an underground shithole in Turkey and some idiots here want to tell you there is no external interference it’s all GMA and Bassil’s fault and the NGOs revolution is doing its best to help along with the rats and trolls you see here and there.:)
 

Bandar

Well-Known Member
Orange Room Supporter
the market decides prices. the current price reflects people's confidence in lebanon's economy to generate wealth and pay off loans. there is currently no confidence because our banking sector has completely collapsed and the country is run by a terrorist group with no economic plans or objectives.
 
They declare the rate from an underground shithole in Turkey and some idiots here want to tell you there is no external interference it’s all GMA and Bassil’s fault and the NGOs revolution is doing its best to help along with the rats and trolls you see here and there.:)

Yes because it's all someone else's fault. not our banks, they are saints.
 

JustLeb

Legendary Member
Orange Room Supporter
They declare the rate from an underground shithole in Turkey and some idiots here want to tell you there is no external interference it’s all GMA and Bassil’s fault and the NGOs revolution is doing its best to help along with the rats and trolls you see here and there.:)
dear rafi2 sheep
it seems you are in Canada, but for a moment pretend that you are in Lebanon, you went to your bank you withdraw 2000$, the teller gives them to you in cash. would you panic and go check the platforms?
Of course not.
But when you can't find dollars in your bank and not in another bank, you go to the exchange and you hardly find some, then you start searching until you reach the black market, does this panic you ?! Of course, it does.
So who is to blame, the platforms or the scarcity of the dollar ya fat7al enta, ya distinguished sheep.
The platform will make you panic when you start looking at them, but if you had the dollar (that was diminishing since May 2019) you don't care about the platform.
Anyway, your fellow sheep are applauding you.
4175e0ec2e3ed097fbb3c3945591ee38.gif
 

opium

Well-Known Member
The banks are simply drying out the usd from the market to cut down on their losses.
After they stole the usd accounts, now they are devaluating the LBP making our lbp savings peanuts.
They started to buy the usd at 1750 lbp in late 2019, last week they were paying 17000 lbp when the market was at 12000 lbp.
The more they will buy, the more we are doomed.
We are all bragging about the corruption of our politicians. But what the banks are doing now is the biggest heist in history!
 

NewLeb

Member
Eh what are you going to do about it?
Here is my doctrine, if you don't mind.
If a Lebanese lambda, went to the bank and asked to withdraw some of the dollars in the bank account, and he got them.
Would this have happened ???

That would depend on the mental state of your friend. The overall wealth in the country was not a real reflection of the true value of its peoples. Most of the Lebanese with real value left the country, and the ones that stayed are mostly being manipulated by the media and its interpretation of events.
 
dear rafi2 sheep
it seems you are in Canada, but for a moment pretend that you are in Lebanon, you went to your bank you withdraw 2000$, the teller gives them to you in cash. would you panic and go check the platforms?
Of course not.
But when you can't find dollars in your bank and not in another bank, you go to the exchange and you hardly find some, then you start searching until you reach the black market, does this panic you ?! Of course, it does.
So who is to blame, the platforms or the scarcity of the dollar ya fat7al enta, ya distinguished sheep.
The platform will make you panic when you start looking at them, but if you had the dollar (that was diminishing since May 2019) you don't care about the platform.
Anyway, your fellow sheep are applauding you.
4175e0ec2e3ed097fbb3c3945591ee38.gif

El 7a2 3a Biden. If you want to see your $$$ I recommend paying the white house a visit.
 
The banks are simply drying out the usd from the market to cut down on their losses.
After they stole the usd accounts, now they are devaluating the LBP making our lbp savings peanuts.
They started to buy the usd at 1750 lbp in late 2019, last week they were paying 17000 lbp when the market was at 12000 lbp.
The more they will buy, the more we are doomed.
We are all bragging about the corruption of our politicians. But what the banks are doing now is the biggest heist in history!

Banks are partially owned by the politicians. Hariri family owns half of bank med, Elie Ferezli has a huge share in another bank (forgot which one).

Basically one big mafia cartel
 

Manifesto

Legendary Member
Orange Room Supporter
Mesh zabta ma3ak because we had one of the highest GDP growth in the entire Mediterranean.

Wrong. Here's the 1960 GDP per capita.
Lebanon ranked 50th at the time. A country that only relies on tourism can never become a prosperous nation, no matter what anti-Arabists and Phoenician revivalists would have you believe on Twitter.

Screenshot_20210317-011702_Office.jpg
 
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