HenryMakow.com – Jan 7, 2024 

“Run by an unholy, mostly undeclared, coalition of warlords, businessman and clerics, this trinity has recently orchestrated what could be defined as the only government-sponsored Ponzi scheme the world has ever witnessed. Citizens’ (and Expats’) bank deposits – the majority of which in the form of lifelong savings, mine included – have evaporated overnight.”

“Prior to the sudden announcement that depositors would be unable to withdraw cash from their hard currency accounts, there had been mounting speculation that some banks were facing liquidity issues. However, no one expected that the banking system as a whole was going down the path of a full-blown insolvency crisis. The news took everyone by surprise.”

by R.A – (henrymakow.com)

Living in the middle-east nowadays – let alone being a 42-year-old Lebanese, pursuing a professional career in Iraq for the last 14 years for lack of genuine future prospects back home – does not hold many promises. The region is one hotspot for eternally recurrent flare-ups.

Alas, it cannot – or, say, is not constructed to – be otherwise for three main reasons, at least: the immense natural resources it sits on; its strategic geographical location; and the presence of the state of Israel at its heart. One need not look further than the current Gaza war to fathom the interplay of power, interests, blood, tears and pain that has long inflicted the region with no light at the end of the tunnel.

On a more personal note, my home country, Lebanon, is a textbook example of a state teetering constantly on the brink of collapse.

Run by an unholy, mostly undeclared, coalition of warlords, businessman and clerics, this trinity has recently orchestrated what could be defined as the only government-sponsored Ponzi scheme the world has ever witnessed. Citizens’ (and Expats’) bank deposits – the majority of which in the form of lifelong savings, mine included – have evaporated overnight.

Continues …