Assuming there was no peg, LBP at 54,000 means #Lebanon ‘s currency has now lost -15.4% of its value per year since 1997
If same pace continues, LBP will be:
2024 = 62,150
2025 = 71,721
2026 = 82,766
2027 = 95,512
2028 = 110,221
EHSANI22’s Tweets
After the speculative mania burst, the Dutch Government ordered all credit contracts related to trading in Tulips to be annulled at 3.5% of original value (-96.5% loss)
At their peak,price rose from the equivalent of 1 month to 5 years of salary for the average household
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Due to pressure from Washington, money transfers out of #Iraq using unofficial banks has reportedly become extremely difficult to conduct
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The Actual number is an astounding -15.4% loss in value per year and not -3.9% as stated below
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If #Lebanon ‘s currency had lost -3.9% a year since 1997 instead of having been pegged at 1507.5 to the US$, it would have been right here at 52,000
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If #Lebanon ‘s currency had lost -3.9% a year since 1997 instead of having been pegged at 1507.5 to the US$, it would have been right here at 52,000
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The gap in economic well-being between the Levant and the Gulf region has perhaps never been wider than now
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What has changed in #Syria of late is that even the relatively wealthy are finding it hard to source daily basic stapes & energy products
Without help from religious charities or relatives outside, few people are able to carry on with their daily lives
Anyone cares?
Nope
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#Syria ‘s Eco sanctions were not put in place because Washington was sure they would work
They were put in place because
1-they were the poor cousins of direct military intervention
2-Was a way to tell the opposition “see we are doing something. Can you leave us alone now”
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If #Lebanon ‘s banks can actually have State assets enter the calculation of who owes what to whom, they will go down as the true Masters of Finance
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The real Question is what is a Malaysian sister and an American Bro doing in Idlib
Ya haram ya #Syria
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Sad day. Um Muharib, a very sweet Malaysian sister here in Sham, passed away y'day after an illness. She helped feed & clothe so many in Sham. When I was in HTS’ prison she was constantly checking on my family. May Allah have mercy on her. Please say Ameen if you see this message
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Deleted this original tweet by accident
If your Government is not collecting 40% in income taxes then you should not expect much in term of basic benefits or services
Those services have to be funded from somewhere
P.s I pay nearly 50%
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Replying to @dan_azzi and @faysalbadran
Governments are inherently inefficient. This is why a number like 35-40% has typically been needed to meet the budgetary requirements
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Still the best quote for investors / traders
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”
— George Soros
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SYP was so strong back in December 2010 that it traded at 46.5 to the $ (official rate was 50)
#Syria ‘s currency today touched 7,000 against the US$
This is a staggering 150 fold increase in the US$ against the local currency
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It was 12 years ago this month in 2010 when I attended the wedding of a close relative in #Aleppo #Syria
The new local stock market was at an all time high. So was real estate
Everyone was oblivious to the death and destruction that was to come just three months later
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Israel’s greatest spy Eli Cohen memorialised with his own museum
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#Lebanon ‘s somewhat bizarre financial commentary makes it look like if you analyzed the data in detail and concluded that #BDL_Lebanon and the peg are to blame for the crisis, then you must be a Hizbollah & co sympathizer
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Clearly, people are yet to understand how #Lebanon ‘s financial crisis transpired (or don’t want to)
You can hate the existing political background all you want
This doesn’t take away the fact that every dollar that disappeared can be tracked & explained through the peg
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Replying to @Confusezeus @karimbitar and 4 others
I do not believe that the collapse in Lebanon can be explained in purely financial terms, but even then, there are decisions by the ministry of finance that need to be explained.
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That Zahran Aloush was at the scene then was actually UNKNOWN at the time
Russian drones spotted armed men in a number of cars parking around a complex
Coordinates were given by Russian drones to the Republican Guards who carried out the strike from a new operation room
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#OTD in 2015, joint Syrian-Russian airstrikes eliminated Zahran Alloush, the head of Islam's Army terror group in Douma, who vowed to exterminate the minorities when his terrorist army conquers Damascus.
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Skyrocketing methamphetamine use poses new security threat in #Iraq
Basra only has 44 spots at its rehab center for a city of 4 million people
How many of your friends are also on drugs, a young addict is asked
Answer: 100% of them
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1507.5 vs Oil & Gas
And the winner is ……
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اليوم على كل لبناني ان يختلي بنفسه ويسأل ضميره كيف اصبحت سويسرا الشرق فقيرة حزينة في حين قطر والخليج أصبح قبلة ومنارة العالم ؟
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Countless opinions have been offered on what #Lebanon must do to come out of its financial crisis
Don’t believe them
ONLY solution is:
1-Inform all depositor their money is gone
2-Declare banks insolvent
3-Replace Central Bank Governor
4-license new banks to start
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Of all the notorious atrocities which took place during the First Crusade (1096–1099), the Siege of the Syrian city of Ma'arra stands out
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43 years late
#Iran
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Iran to disband morality police amid ongoing protests, says attorney general bbc.in/3H8PylR
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That Assad and Erdogan had detested each other is no secret
That #Syria ‘s Kurds may end up bringing the two leaders together is no easy feat
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Only way to enjoy #Qatar2022 ?
Tune out the needless politics of all kinds for a month and concentrate on the games
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How do you know Arab Nationalism is not all dead?
When every Arab national finds himself rooting for any Arab country playing at #Qatar2022
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The Arab world that is blessed with oil & gas resources is off to the races
The Arab world that is multi sectarian & that has no oil & gas is f…ed
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Really?
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The Kurds are the future of democracy and freedom in the Middle East.
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Yup, I can count all $15.14 billion worth in the picture
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Breaking - Lebanon’s central bank says it has completed an independent audit of its gold reserves that found no discrepancies with the amount listed on its balance sheets.
Pictured: Governor Riad Salameh standing in a room full of gold.
Show this thread
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I see the “other assets” behind too
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Breaking - Lebanon’s central bank says it has completed an independent audit of its gold reserves that found no discrepancies with the amount listed on its balance sheets.
Pictured: Governor Riad Salameh standing in a room full of gold.
Show this thread
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MBS visits Doha at #Qatar2022
#Saudi deposits 5 Billion in #Turkey
Erdogan considers meeting Assad
🤔
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Erdogan considers meeting with Assad
Politics is a bitch
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#Qatar2022 Spare us all the politics and enjoy the games
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#QatarWorldCup2022 a fine opening ceremony that should make Qatar proud in sticking to its traditions & culture
Important inflection point for a region that has accumulated enormous wealth from its oil and gas resources and is now displaying it all to the world
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"What was once known as the Fertile Crescent started to die about 35 years ago”
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What do all bad investments have in common?
When you assume other investors (especially the so-called smart ones) must have done the required due diligence, so you don’t need to
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#Lebanon’s Riad Salameh will go down as the true Maestro of Finance
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