Adonis Diaries

Posts Tagged ‘virtual money

First out (transferred hard currencies), first in (with privileges): Lebanon

First out first in

Inducing Lebanese expats and wealthy “Arabs” to transfer real money to the Lebanese banks

Out of the real money, they multiplied virtual money and created the illusion of a model that can generate wealth out of scratch

When real money inflows started to slow down they started to transfer real money out of the system and to replace it by virtual money (mass printing of Lebanese currency)

In 2019, $18 billion were transferred abroad, and $6 billion in 2020 even after the mass protests

Virtual money will in turn evaporate because it has never existed, except out of a scam they called “lollard” (lol-dollars?)

With the disappearance of virtual money and the widespread of inequality, poverty and destitution, real money transferred abroad can buy everything

It will buy private property as well as public assets which will be lodged in a fund (Sort of a wish Sovereign Fund)

Plans are being debated:

Haircut, capital control, lollards for the people, free capital, real dollars, public resources for the privileged few

Foreign aid won’t be granted without reforms, impoverished population will be taken Eastward

No plan, no fund, no aid without equality and solidarity

Inequality is not only about arms, it is also about money

Those who exploited the system must pay first

Those who corrupted the system and made-up the $80 billion loss must pay first

Because the $80 billion loss is only a portion of their profits

Confiscation of accounts and haircut for all,

Contribution by the corrupted politicians and their cronies is the condition precedent for any plan, any recovery

No neutrality of the state on this issue, the US sanctions and settlement way can serve as a soft model, the MBS way as a hard one

People are now paying 70% penalty to free-up their wealth,.

It is only fair that those who stole public assets and private deposits contribute 30% of theirs as solidarity with their fellow citizens

Contributions by all who made up this mess should be a condition precedent to any plan for sustained pain and famine.

This is the only pragmatic solution to move forward

Note 1: Private Lebanese banks (there are No publicly owned banks), are the hunting dogs for our militia/mafia “leaders” Club. The banks “shareholders” have figured out that it cannot lose by lending the government at 18% interest rate (knowing well it is a Ponzi scheme), on the assumption that a State cannot go bankrupt.

The concept was that No government can go bankrupt: the State has always enough assets and “properties” to redeem its debt to the banks.

The banks are working also on the assumption that it is their “shareholders” (mostly the successive deputies) who want their money back, and Not the 80% of the small depositors who lost everything and are hungry and in despair.

Note 2: The Central Bank (Riad salami) and the successive ministers of Finance (Nabih Berry) main function was to “financially engineer” the State budget for the benefits of the Club of militia leaders. and the 18 officially recognized religious clergies


adonis49

adonis49

adonis49

April 2021
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