infiniteloop wroteStop spreading panic, you are pushing people to withdraw too much money and exchange b***es to steal people, you are pushing people into a vicious circle.
A new government and hopefully technocrats one will be able to bring help in $ from friendly countries, I am perhaps one of the rare optimistic dude here but instead of shouting ''fire'' let's poor water on it
I'm in Canada and my money is in TD bank. I am not in cahoots with the Lebanese exchange people. Don't rely on the corrupt politicians that broke it to fix it. They are ALL corrupt, and those who cried chastity turned out to be the dirtiest. It's better if everyone takes a cut of their money and survives rather than smart people savign all their money and the less savvy losing it all. If we had a morally decent government, they would have killed the peg and did a USD account haircut back in 2017 suddenly and overnight before anyone escapes, and they would have spread the pain and the system would have limped on. But what we have now is people who knew saved all their cash, and other people are grasping for hope.
Blom bank in 2015 warned that the debt will become unsustainable in 2020
http://blog.blominvestbank.com/wp-content/uploads/2015/06/Debt-Sustainability-Analysis-for-Lebanon-2015-2020.pdf?fbclid=IwAR1AAOqMEXjSvUFThLw62LOUMupmcP-FqqSXMzocjCr_NMNKOtxsbdGKc5U (see page 6, 2020 is one month away, cudos for the writer)
And politicians first pretended it is a rumor. When that failed they pretended it is the world conspiring against them. And all that wasted time while they hid their money and while wiser people got their money out. It is getting worse if you have not noticed. If you need to pay 10% extra for security so be it, insurance costs money. It's better to lose 10% and be wrong than regret it later...
The country loses 7 billion or so a year on trade deficits, dollars wasted on electricity ships, dollars wasted on projects and corruption. And you think because I am telling you to take out what? 10 000 usd at best (because the bank will not let you take more) that that is what crashes the economy?
Greece is expected to end austerity and finally be done with its crisis by 2064 or something, Venezuela is in shit mode. I am worried that our people in Lebanon are not really grasping what it means to have a financial crisis. Many think that it is something they will just shrug off and move on from in a year or 2. Financial sector confidence has been broken, and countries that used to help us abandoned us, nothing will fix itself.
I do admit I am a coward. I withdrew my money since 2015 and lost a lot of potential income from interest for 3 years straight which could have amounted to half of what I have now. But some things I cannot afford to gamble with or leave for luck and uncertainty.