Lebanon’s Currency Crisis, Explained
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- เผยแพร่เมื่อ 15 ต.ค. 2024
- Lebanon's currency has lost 90% of its value. I'm in Beirut to understand how its banking crisis is causing multiple exchange rates leading to hyperinflation, and total chaos!
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I am lebanese, 18y.o, and I'm living the worst days of my life ( depression, mentally tired of everyday news and problems ). May god help us.
Stay strong
sending you
Sending you ❤️ from Canada , stay strong.
Bro stay strong , hopefully good days will come keep your family safe and work hard, and pray
Stay strong buddy god bless Lebanon from 🇨🇦
Same stuff has been happening in Argentina for 20 years.. Its sad. Our worst moment was when stores would literally change prices between the moment you got in the store and when you checked out. You would see employees running around retagging everything every 10 or 20 minutes
Peronia
Argentina has suffered this with different levels of intensity for the last 90 years!
And most politicians repeat the errors of the past, thinking that this time it may have another outcome... 🤦🏻♂️🤦🏻♂️🤦🏻♂️
It’s proven that these pseudo, failed democracies do not work.
We as the people have to regain control. Direct democracy is the only way. The politicians should never decide over the people. The power has to be regained by the people.
Just see how this works in Switzerland. And compare the results with the rest of the world!
That's awful I'm so sorry this is happening .
Neoliberal capitalism in action
@@slickrick2420 oh, really? And WHO is that?
So the incompetence and corruption of the politicians, the millionaire union leaders and some mediocre business men who support them have nothing to do with the free fall Argentina?!?
As a Lebanese this is well explained. Very good job. We just need to cross our fingers, hope, and pray to a better life in this precious country
Your feedback means so much to me. It was so important for me to take the extra time to get this right in a way that accurately reflects the facts and emotions of what’s happening.
i think burger is cheap
Yeah and the president is like a sleeping princess
Praying ,And hoping will not give a better life , either fight the system, or get out of it.
With this speech, you are participating and contributing to the worse...
as a lebanese person too, i strongly disagree. we shouldn't sit there and "pray". We have to vote all of them out. Every. Single. Politician. In Lebanon is corrupted. Vote. them. out.
That's sad. I can't imagine how hungry people would be right now due to frozen accounts. This is why the US dollar remains unbeaten. Despite the us dollar crash, people still earn and eat. Sad! Sad! Sad!
Very true! My point growth has increased significantly throughout this bad market. I was able to scale from $18K to 72K primarily by following my coach's guide. It's more important to know when to enter and exit
@@maryalchester You're right, of course, but it's important to get professional advice before investing money in order to select the greatest asset for your time and resources. The ideal way to do analysis is with the help of or under the supervision of an expert because there is more to the market. Since seeking assistance, I've noticed a noticeable difference.
@@mvanwie who
@@aliyunko9689 Having encountered a few, it's better to search out locally, but just now, Juliet Eve Downey has been a huge help. A touch low on ROI, but still worth the price.
We are in a financial precarious position because of our persistent need to do things on our own.
This is the type of news media should be covering. I had no idea if what was going on in Lebanon. Thank you for this video!
THE VIDEO QUALITY OF THIS IS AMAZING, keep it up mate, ik 8 min is hard but it really skyrockets your video quality
Thank you so much! Yeah I might have to do these more often!!
@@uptin see?! it got 1.9 k views, longer vids means more people see it in their recomended!
@@uptin JESUS CHRIST 61K VIEWS
I am from Turkey and this video deeply concerned me as I feel like our country is at the tip falling over as well. Even in the last 3-4 years, we have been experiencing some form of what people in Lebanon are going through and I can only feel how frustrated young people must be. I hope they recover as soon as possible and we don't have to go through such inflation as well.
Don't leave money in local banks and exchange any cash you hold to a strong foreign currency, or transfer your funds to single or multiple foreign bank accounts for better safety. Good value investments, not cash, should come in a close 2nd stage... Late lessons from the Leb people.
Well it's unlikely that Turkey will be in the same situation because Turkey produces everything locally plus the export plus tourism..
@@AHanon-ee5vl turkey produces everything 😑 not exactly
@@ahmettalhaaksit69 you guys at least got a plan for the worst times but we don't have anything and to top it all off Hezbollah controls the country!
vgls88 that hurts the domestic currency my friend turkey has a proper government but they are being financially pressured by the US thats why the lira is going down even though turkey is one of the biggest economies.
Moral of the story: DO NOT save everything you have in banks. Doesn't matter when or where you live.
Diversify your assets!
always invest if you have the money
Unless your buying a house. Every dollar has to have a strict money trail from your job to the bank for your down payment, which is TOTALLY BS. I never trust the bank but policies like this herd you into all the other sheeple.
@@jw1741 Maybe in some countries, definitely not the case in most. Especially when it comes to Europe.
@@jw1741 I feel your pain so much lol
@@jjg4074 😬😬😆
I had no idea our news never told us about this.
Why would they?
National news isn't global news.
Yeah tell me about it. Wtf is going on
News were not made to inform people, news were made to control people
Same
Excellent work , thank you very much for the coverage
Bas derrad .. enta bteshra7 a7san
@@alitarhini2323 le hk am bthki😒
Gold black platinum watafak
Wa discoorddddddd
bas...derrad
The girl at the end was so wise and realistic with her opinion. She says it how it is. I like her thinking.
pretty, pretty gurl
Pretty sure there's something else you like more, because it wasn't that deep and insightful.
It’s ok. The Christ Kingdom Financial System will make all currencies the same value.
She also has a great French accent! It bothered me a little..
@@olsmellyknuckles9653 lol
this is just so sad, i'm literally left speechless.
I know right? 🙁
ya the economic crisis in Lebanon is not that bad , the documentary only interviews people working at night clubs or at bars in Assyrian neighborhoods or less developed areas , try going to high end areas or some Shia or Arminian Christian neighborhoods , they all support the government , not everyone is opposed to the government , the crisis in Lebanon isn't that bad , its more politics than economics , not everyone is struggling , the problem is because of the sanctions imposed on Syria and Iran , Lebanon can not import products from Syria , but the economic crisis in Lebanon is improving
As a Lebanese I congratulate you. You explained our situation really well. Here we are living in misery unfortunately.
Are there any change in your diet and lifestyle after the economic crisis?
@@wavemaker2077 Ooohhh yess unfortunately. For example us Lebanese are popular for our delicious food but now we can’t afford it anymore: meat, chicken, sushi, lunches and dinners in restaurants …we used to have a barbecue every week but now it’s all gone. Our table used to have varieties and varieties of food but now it’s only what we can afford. Honestly I don’t know how long we can survive in this country.
@@marlyhatem2201 i'm so sorry for you. I hope you Lebanese People skip this Hard days. Love from Turkiye
It can happen to any nation. The corruption ain't so less in India as well.
This start happend when US and these other countries start exploting and messing in middle East .
And before we got any " patriots" defending USA actions, know this. US goverment has overthrowned over 50 countries since ww2 and have over 800 military bases around The World while complaining to other countries to follow international laws while they put sanctions on countries who are politcal enemies of them based on unjust political policies.
This is how AMERICAN SYSTEM works
@@leodante2874 lol
The only difference is that earlier politicians used to get caught but now they have their puppets to defend them 24x7 on media.
wouldnt expect to see you
@@leodante2874 u r gone if u fuck with US
We need part 2!!! Literally feels like a Netflix documentary
Our lives arent a show here man but I agree that we need more coverage. Let more see this. At this point, if any country sees us and decides to invade and remove our "government" it would be far better I think.
Sadly, he summarized everything happening in Lebanon in terns of economics
This is not for your entertainment he is actually raising awareness
@@danyhawari9019 May God answer your prayers. But I hope that this country will not treat us with racism, and will not be killing a certain religion just because of religion.
@@josephdahdouh2725 i dont want your god answering my prayers. religion shouldnt even be a part of the topic when it comes to the situation in lebanon. take your god elsewhere
u deserve more subs man
Agreed
sheeeesh cracked valorant man
cool seeing you here
Thankyou❤️
Islam is false. Mohamed is a false prophet. He is in hell. I live in Houston Texas. Blessed be y'all. All y'all Muslims are heathen and only christianity is the Truth. Read your Bible and learn the truth. And obey Jesus commandments.
I’m from Lebanon and it’s sad to see this happening to my country.
I'm from Turkey and we are in the same goddamn process because of the politicians and the shitty religious self-seeking traitors. I totally feel you.
@@fratsahin7958 trust me, not even close to what lebanon is going through
@@manotopalian4286 Bro I mean we are going to be at that level. In the future of 5 years
@@fratsahin7958 Turkey is too big to fail, but yeah, even the newborn babies are in debt. Politic islam is toxicated.
@@T-mert canımın içi o büyük olma durumu, vasıfsızlık ile birleşince asıl bizim sonumuz oluyor işte.
I visited Beirut for a university exchange program , the city made such a huge impression on my 22 year old self ......It is hard to comprehend what is happening presently. ❤️ and disbelief and shock
from Canada.
I hate the fact this is the first time I’m hearing of this but thank you for bringing awareness to this situation
❤️
It's true I went there in July. One dollar equalled 20 thousands Liras one day and the next day it would be for 22 thousands.. And every single pharmacy I've seen in like 6 different cities were closed except for one I've seen open! One lady in a shop stopped me when she noticed that I wasn't Lebanese and asked me if I would get her a medicine for hair loss form my country because all meds are not available in Lebanon, she is a cancer survivor btw. My prayers are with the Lebanese people.
Pharmacy Were open but more than half of the stock is missing
Lebanon And the Lebanese Lira should Recover a step by step. This year There is Millions of visiter and Tourists From all over the Globe are in Lebanon. The Lebanese Economy Will Recover step by Step. I hope and Wish Everyone to go visit Lebanon. There is 15 Millions Lebanese Outside Lebanon Those Numbers of Lebanese diaspora will Give Lebanon a Chance to Recover step by step and We will see our Lebanese lira Stable and Recover. I remember in 2011 When I visited Lebanon For 1 US dollar= 1500 Lebanese Lira. Trust me it will Recover.
@@mohammadbazzi3072 why is it to the foreigners to give money while these pigs are still stealing ???
@@mohammadbazzi3072 no i wont Recovery, impossible, the only way is dollarization
@@voielacte With all the Tourists and Visiters The Economy will Pickup. Eventually people from all over would Come to Lebanon and exchange their Currency with Lebanese Lira and Eventually the Lebanese Lira will Recover Step by step. This summer The Tourists in Lebanon are Skyrocket and it will continue and bring $$.
Everyone needs to watch this as it can happen to ANY country at ANY time. Governments and economies are far more fragile than we think
Very true.
That's true.
…look at Singapore…just a dot on the map,n it’s going from strength to strength 🤔
@@PP-vf1kx C a p i t a l i s m
@@PP-vf1kx how
Why
As a Lebanease Canadian I feel from my family back home, the people of the country are suffering and I hope for a revaluation, so that Lebanon can be as beautiful as I remember 5 years ago...I hope and pray that the people of Lebanon can fight against the government and take back their country..So sad
I feel so bad for everyone who lost their money in frozen bank accounts
Alhamdulilah we still living a noble life,
Well in USSR people go three times throug this process which was called Nationalisation (of private propert, money, etc). Ofcourse, its not only happened there. Funny thing is that all that social power of us in 2021 and we still hopeless against this roberry . People can overtrew anyone today with smartphone, or at least make pressure, but still its not really help. I guess histort dont have a choise but to repeat it self
@@ebeb9156 not as bad as lebanon, we have the worst economic situation since the 19th century
@@hoangnguyenminh1901 65k$ that over night became 35k$ ? No thnx. Its worse than Nationalisation in Ussr 🤣
@@ebeb9156 Crypto has a long way to go but the technology is there. Some of the projects can solve such crysis as the one that's happening in Lebanon or prevent it from happening in another countries.
What completely breaks my heart is not so much the hyper-inflation that many of my family members who are in Lebanon struggle to deal with, but the sense of despair and hopelessness the youth are feeling. 6:57 - "We're not seeing any initiatives to make things better... This is where our hopelessness stems." This really stung, you can see from the tight grip in her fingers the kind of anxiety she's dealing with. All of this on top of Covid, and on top one of the largest non-nuclear explosions in history that happen just under a year ago.
Resilience is one thing, this is on a whole other level. It's no coincidence that the term Anti-Fragile would be coined by a Lebanese thinker.
I hope the best for Lebanon, from Ireland 🇮🇪
Same
Thank you to our Irish brothers and sisters 🙏
Euro will be next
Thank you for covering this!!! So glad to see this video has close to 1 million views 🙏🏼 it’s INSANE what’s happening here in Lebanon.. we’ve been through so much and yet the situation keeps getting worse.
From Canada, I send my heartfelt prayers and condolences to those affected in Lebanon. May god help you guys, stay strong.
I once met a very handsome Lebanese Canadian.
How awful. Sometimes I complain about living in the US because I can’t stand the other people that live here. It’s things like this that make me appreciate what I have and where I live.
I am a Lebanese currently in Orlando for a 2 month vacation you guys have it all here even the basic needs like electricity we don’t have in Lebanon, u guys complain about how bad ur country is, it has everything everyone here is a good person and u guys complain about ur government I mean how could u, be grateful. I am so grateful my parents are dying to make me and my siblings happy, thank god we can still get food, but who knows later in the future.
People from the western countries mostly have never suffered from hunger, no shelter, long and frequent electricity outages etc. North-America has it's problems, so does the EU but they are still the best places to live probably in the world (with some exeptions). It is mostly because of rule of law and good or OK level politics that have taken us so far. Also the level of corruption in most wester countries is very low so pointless to bitch just about capitalism / prupose a better system (even socialist EU countries have capitalist systems).
@@nomijolielamaa1077 we can still critique our country. Not everything is perfect just because another country is in a worse state.
@@markust6039 A someone who grew up as a homeless foster kid on Skid Row in Los Angeles. And who was trafficked as a child. You are so fucking wrong. Just because you can't see Epstien types don't mean they aren't real.
100% ma nika now send me some $ ill be appreciative
Brazil in te 80s had a so deep inflation that the prices at the market were changed 3 or 4 times a day. When you got your salary paid you had to rush to the market and buy everything you could because if you didn't do this you would not have enough money for the month.
Tough times.
Weaksauce. I'm from former Yugoslavia and we had third worst hyperinflation in the known history. Literally when you got your salary you had to go and spend it all, usually you could only afford few loaves of bread and few liters of milk and you would freeze that so you would have something to eat trough the month. At the peak in 1994 hyperinflation reached 313 million percent per month. That means having a billion at the beginning of the month and not spending it would mean at the end of the month it would be less valuable than cheapest toilet paper. Highest denomination was 500 billion dinars(500000000000).
Cara, falei a mesma coisa sem ver seu comentário hahahaha.
@@Nood4159 highest for Hungary was in the quadrillians, amateur
@@killerbean3122 that was crazy times
@@Nood4159 hungary went through the highest inflation ever recorded. ... By the end of 1945, it was 10,000,000 pengő, and the highest value in mid-1946 was 100,000,000,000,000,000,000 (1020) pengő *edit yugoslavia is actually ranked right under post war hungary
I'm Lebanese living in the UK and I can't even explain how powerless I feel, not being able to do anything to help my country and my family. It breaks my heart every day watching my people go through this. If only the government was competent and not so corrupt and consumed by greed, Lebanon would practically be a paradise.
I understand your pain❤️ Hopefully it will get better soon.
Religious and political morons can't rule countries. In the modern times it requires engineers.
@@ancientbear3280 You forgot to mention the military/militia morons too. So, it's the triangle (religious, political, military) of sadness, depression, hopelessness, destruction...When these 3 types of morons dominate the system and pull in different directions, forget/ignore that country!! It's going down to Hell no matter what. Very sad, but very true.
@@mmans8191 True. If it makes the Lebanese feel better they are in every country. Criminal leader pretends to be religious but is just a thief, the thief and his crew rob the nation and use the military/police as extraction tools. Banks are the tip of the crime pyramid.
Your country is democratic, you choose your representatives. If you make a wrong choice, dont blame others for that but take the responsibility.
03:21 Imported are 50% more expensive
Me: oh no... you dropped one of those imported fries, better eat it
@H N how would that make sense?
@@MD-sr9ve often it is cheaper, depents on what u buy and where it comes from.
@@andreasiven21 where do u live that imported goods are actually cheaper lol
@@mintcake6895 it's not about where they live but from where imported, since Lebanon has a good relationship with Iran I think that where they imported from because Iran is in a struggle as well because of the situation with the US
@@mintcake6895 .... Everywhere? Why would you import something that's more expensive than what you make?
I am lebanese living in lebanon 😢 it's really tough to earn a living specially if you get paid in lebanese lira
I am an architect seeking to work online with foreign countries to get paid in dollars
Move to Asia! Asian countries' economy is booming!
@@ssmart2512 lebanon is in asia bruh
@@jayp9622 LMAO
@@ssmart2512 you need to be more specific. Afghanistan is also in asia, as well as other shitty 3rd world countries which has worse working condition than lebanon. Also, I don’t think any country is booming right now especially in construction industry which where architect is.
If you can, convert a few dollars per week/month into Bitcoin. It will keep up and exceed the inflation you are experiencing. Only convert back to dollars or Lira when you are ready to actually spend it. The longer you can sit on the Bitcoin without touching it, the more it will grow. Good luck!
My dad, who was born in Bulgaria, told me that when McDonald's was first introduced in his hometown he was 16 and a cheeseburger and some fries was worth the equivalent of $15 in local currency, which was the equivalent of 2 days work. It never really got cheaper so they closed almost all of their stores at the time and left several open that probably still exist today to cater to Americans who visit.
As a Lebanese living in Lebanon, this has been the hardest experience, and I'm considered lucky. So many are suffering and so many are hopeless. Share our story ❤🕯
Ever you seen a poor lebanese living abroad ? Well I did not see . They live a very lavish life , Very arrogant towards the people of Asian or African Countries ..ha ha ,but their own situation in their country is so poor . So Next time you see a Lebanese guy showing his arrogance we show him a mirror ...Anyway it is very simple law , you get back what you giv
@@babladas1980 not all Lebanese are like that and I despise people who behave and treat others that way. You should not wish suffering onto others. I would not wish what's happening to us onto anyone.
❤️
@Dark stay strong as well!
@@OmzLaw can anything be done to help you ??
We went through a similar thing in Zimbabwe in 2018. My parents lost their pension overnight because the government printed money to service domestic debt. We were all trillionaires.
Correction: 2008
My friend lives in Lebanon and is currently having his worst days. Hope he escapes form that Hell pit.
Everyone is having their worst days including me :(
@@husseinkarnoub582 Hope you have a way out.
Send him dollars, or STFU 🙂
@@Karim_RD As if we're all rich. I'll say whatever I want to say. And why don't you send anything?
Me too , I wanna get out :(
Okay I have to say i was surprised to see this come up on my feed. I dont think enough western journalism-related content creators are covering our crisis enough so I wanted to thank you for this detailed, unbiased, and accurate representation of the ongoing situation!!!
thank you so much. really means a lot to me!
It's because it's better for the sake of western country to just keep what's happening here under wrapd since they support israel
As Lebanon's neighbor, I'm really hurt watching this hopefully their country will grow again to its norm as before. May peace be among you. 🇱🇧❤️💪
so you're Syrian?
@@Anyways-bi6nq wtf is Syria the only neighbor Lebanon has bro? By neighbour I mean close.
@@CrozanOffiziell lmaoooo the defensive for being labeled Syrian when you're middle eastern is too real. My mom's Lebanese but my dad's Syrian and they both tell me to never mention the syrian part 😂😂.
@@woodensauce1063 yeah, dude obviously people don't want to be associated with Syria in many cases. It's sad, but understandable.
@@ChrisPBacon-lu6wd Nah they should still embrace who they are
Really happy you made this man. Will share as much as possible
thanks so much! guna distribute now on IG and TikTok as well.
Thank you for covering, the currency is still collapsing. The youth’s dreams diverted from building a successful future at their hometown next to their families and friends to traveling abroad to find a better living. We are resilient and we are tolerating all what’s happening around, but you cannot imagine the stress and tension people are living with every single day
I’m so sorry to hear that
The tension in the air everyday it makes me so frustrated sometimes because well stuff weren't good before but now they're worse we can't even get daily elec or internet anymore only for a few hours
ya the economic crisis in Lebanon is not that bad , the documentary only interviews people working at night clubs or at bars in Assyrian neighborhoods or less developed areas , try going to high end areas or some Shia or Arminian Christian neighborhoods , they all support the government , not everyone is opposed to the government , the crisis in Lebanon isn't that bad , its more politics than economics , not everyone is struggling , the problem is because of the sanctions imposed on Syria and Iran , Lebanon can not import products from Syria , but the economic crisis in Lebanon is improving
As a Lebanese, I can confirm that el wad3 mentek 💔
Yea we can tell that you're Lebanese by the the Arabic words written in English....
Ayre bil dawle
Ayre bi hal balad badna nfel. Ma 7elwe el 3ayshe
كل دول الشام وضعها زي العمى, والوزراء والمسؤولين قاعدين عم بينيكوا فيهم بزيادة, أكلنا خرة والله
@@Aziz.A 🤣🤣🤣🤣
I'm lebanese and i already know all of these and i legit shed a tear watching this video
This proves why some people don't trust their banks and keep their money out the banking system
Smart people never keep local currency. Never in bank.
if your money loses all it's value. It doesnt matter if you have it under your pillow or in your bank
@@YBehri I know but whats the point if the currency has no value at all anymore.
Look at Venezuela or german currency before WW1.
I visited Cuba in 2018, the people there don't trust the banks either. Complete cash society unless you are in a fancy hotel, then you could use your credit card.
we have bitcoin
As soon as he said Central Bank, I knew this was going to be about Inflation.
Yeah, Bitcoin fixes this
@@AC-DC-EZ Yeah, as if Bitcoin could fix a country that has a commercial deficit of more than 25% of its GDP...
@@AC-DC-EZ How are you gonna buy food if stores dont accept it and you cant withdraw cash from banks to transfer your bit
ya the economic crisis in Lebanon is not that bad , the documentary only interviews people working at night clubs or at bars in Assyrian neighborhoods or less developed areas , try going to high end areas or some Shia or Arminian Christian neighborhoods , they all support the government , not everyone is opposed to the government , the crisis in Lebanon isn't that bad , its more politics than economics , not everyone is struggling , the problem is because of the sanctions imposed on Syria and Iran , Lebanon can not import products from Syria , but the economic crisis in Lebanon is improving
Woah this is intense. I feel so bad for common people, it feels to me that these commons were robbed. It’s so unfair
We all know it is because of Iran and Hezbollah playing around the militia game and notice that they avoid mentioning it cause they'd risk their life lol Lebanon will always be that shithole of the Middle East
but the problem is the people voted micheal aoun to be the president while they new that he is a bad president and when a good president came they killed him 3 days later.
@@안녕-o5g9y best presidents always get killed :)
Here in Iran, so many years ago, we had a perfect president
Intelligent+ kind and he was guileless and honest
Guess what, west indirectly assassinated him :) with the help of some groups against the government
Update: High deficiency of petrol leads to cars being parked at stations overnight to fill up the next morning, if petrol is available, with a quota, and no gas tanks allowed to keep as a spare for later. Now 1$ averages to 15000 lira.
Update: 1$~19400 lira
Due to shortage of petrol, electricity is being cut at specific times during the day throughout the country averaging to 4-6 hours daily and in some places even more. This is not the the government supplied power, which has never supplied enough in the first place, but rather generator supplied power owned by private 'companies'.
Due to electricity cuts, it is bound to lead to water shortage because there's no power to pump it to homes.
A shawarma today averages at 18000 lira. It used to be 3000.
I feel you bro
Stay strong and never give up
اخوك علي من العراق عاش مع د١عسّْ واوعدك انه الوضعية راح تتحسن ❤❤
@@ali_new_world أكيد، بس نحن ما كان لازم نوصل لهيك مرحلة من الأساس، صرت أستحي قول انني لبناني، صرت أستحي قول انني عربي
@@dardoura
لكل جواد كبوة، ان شاء الله فترة وتعدي وترجوا مثل قبل واحسن ❤
@@ali_new_world يمكن بعد ١٠٠ سنة
the currency of lebanon is lebanese pound !!
Why does this not have millions of views already? TH-cam's homepage is full of garbage rappers and other music, while a video as important as this just sits in the dark. I'm happy this was recommended to me.
They want to distract you from what's going on with garbage music that talks nonsense lol
You can train the algorithm you know. I nearly only get videos like this due to my only clicking this kind of stuff. If you want to watch something else use another account.
@@hepthegreat4005 I'm not talking about my suggestions, I'm talking about TH-cam's explore page
@Niralok it did pop up in my suggestions
Some people don’t like these educational videos
imagine the people create a new territory within the city to be unbound from the state or government and they use Euro as real currency with an own bank to store their Euros. own officers, own food market, own stores... only the water and energy issue would be a thing...
Well they can't either way
This is not America where rioters will make a separate city of their own😂
Cryptocurrency. Monero.
@@dylangarcia9468 That is legit the worst idea
@@hosytaa_1449 How so
Lebanon: has hyperinflation
Zimbabwe, Weimar Republic, and Venezuela: ONE OF US, ONE OF US
Sad to see this happening there. And she's right, history IS repeating itself. It's literally being compared to Venezuela. And the government...could care less. Greed and corruption destroys everything in its path. Greed is a bottomless pit which exhausts the person in an endless effort to satisfy the need without ever reaching satisfaction
Sudan too, bottle of soda used to cost 25 sdg now it costs 120
cya in the US soon
@@randomorange6807 Yemen too, can of soda used to be 80 rials and now it is 300 rials
The governments of the world exist at the exploitation of the people. Whether communist, capitalist, or monarch. Same shit.
Civilization is inherently unequal, imbalanced, and self destructive.
Hopefully it doesn’t end like the Weimar Republic.
Lebanan: i became very expensive and very cheap at the same time due to black market vs offical ex rate
Argentina and Venezuela: welcome to the fight club bro
Don't forget Iran, 10times inflation is a joke there...and exchange rates in the black market is in seconds
@@DarkFuryKH ok bro you're caught in the islamic state propaganda spiral... Iran is not a fork it's a toothpick at the most and the government doesn't have enough money to feed the people let alone fighting with the world, it's all propaganda don't believe it
@@amir.420 ahhahaha thats a joke comparing Yugoslavia hiperinfaltion from 1992-1994 we had bils that where 500 bilion dinars xD back then i was bilionare.
@@amir.420 Alright I just said what I knew and I could be very wrong
@@MA-cx9os funny i had an older friend in Canada who had fled Yugoslavia at that time and always used to compare iran rn to Yugoslavia
"Its as if they were robbed..." yeah they were robbed
Pretty much the same thing happened here in Argentina in 2001. Even we did somewhat recover, the damage it did to our economy was inmense, nodaways nobody trust our coin (not even ourselves), so we are in a cycle of of inflation that never ceases
Never seen a foreign video covering it better. thank you
People that say “why don’t we just print more money” this is exactly why. The more money we print the more expensive everything is going to be.
People are thinking that money is just a piece of paper, hahaha.
@@mirazu156 and the sad part people are choosing these kind of people to run the goverment
@@someone-jh6hw Yep.
@@mirazu156 it's not just people. National banks do that too. Just print money for the big guys and they only need to pay the minimum back.
@@mirazu156 because it is. with an agreement around it for sure, but a piece of paper nonetheless. being trapped between a void and hyperinflation is the system just working like it should after what happened. a piece of paper with layers and layers of system around it
As a Greek who has moved abroad i can say i totally understand them !
As a fellow European i remember the shitloads of money send to Greece but it ends up in the politicians pockets..
@c dollar greece is not a shit hole and it won't collapsed after 12 years of economic crisis slowly things are improving
@ Shitloads of money, u miss understand
@Timothy Potts Canada is not a shithole!
I heard that Greece economy is also under depression n Greece economy has gone 80 years back
Well, it's pretty much the same in Iran!! Prices change dramatically fast, like every single day.. There's no specific rate, lots of poverty, and apparently, the only way you can survive here is living based on US dollars! And that's why the majority of young age students are about to move out to other countries .. (Sadly)
like argentina
Like Turkey
Sounds like everywhere prices are going up. Will just keep continuing until all of us in every country can't afford shit. The ideal world the billionaires see 😄
If Iran stopped spending money on terrorism it could spend that money on its people.
@Jeb _ Iran is the number one sponsor and exporter of global radical Islamic terror.
Wow! This video is amazing! Its sad whats happening there. Media are not even talking about this. Thank you for sharing this with us that are/dont live in Lebanon. Im surprised that this video dont have more views. But keep the good work and soon this will blow up. Btw im from tiktok where I saw a sneek peek.
Thanks so much for your comments. Glad you watched it !!
All the love from Egypt to Lebanon 🇱🇧 ❤ stay positive guys
How could i get goosebumps everytime i watch it
amazing coverage!!!! literally nobody knows about so many worldwide issues like these here.
Are you the CNBC guy? Great work, love this kind of content!!!
Haha yes good memory! Glad you found me !
Lebanon is a beautiful country, with amazing people... such a shame this is happening
many investor run away from lebanon when syria fall into civil war, putting money on nation that close to syria is a big risk. and then covid + big exploison came
Amazing people will first focus on nation building rather than fashion and plastic surgeries.
@@priortokaraew7569 like the Japan, US and South Korea?
@@fbyi2940 no. It happened to them after they built their nations and became powerhouses.
Countries are representative of the people of the country. Sweden has Swedes. Nigeria is full of nigerians. The congo has congolese. Switzerland has Swiss. The fault or credit, is always within. Sorry snow flakes
Genius is not making simple ideas complex, but rather communicating extremely complex ideas as simply as possible. And that's exactly what you guys pulled off. Uptin, Dylan, you should be so proud of yourselves! What a thorough research and explanation of the crazy crisis Lebanon is facing, and the B-Roll and interviews are outstanding!!!
Thank you and thanks for your interview!!
I'm Lebanese, and alot of us are struggling, even if we have dollars and are leaving the country it's still so difficult. It feels like I'm.about.to.abandon my girlfriend who loves me wholeheartedly, I'm abandoning my home, like I'm abandoning some of the best friends I've ever had all grouped up with the anxiety of not knowing what comes next. We're all suffering and there's nothing we can do about it for now. What's even worse is that many ignorant people in this country who are engaged in certain political groups and sects that we call (hezeb) still follow them and will even kill you for talking badly about those politicians and "leaders" (mostly in rural areas) . It's not just corruption or the dollar or covid or the bomb. Many of the people are ignorant, and have been brainwashed all their life. May God help us all and help our dying country.
I'm from Russia and I know exactly how it is. Here in Russia we lived like that in the 1990's and I can tell you it's not funny at all.
I’m sorry you have to experience this, do you think it’s partly to do with Putin?
you sound more like a kid insulting a person like that
@@YBehri woah dude chill😂Putin is quite literally a dictator like the Soviets. Weirdo😂
@@YBehri actually Putin was kgb and he is bringing the Soviets back into power. Starting with the invasion of Ukraine
@@bigbeartanner He might be a dictator now but Putin wasn't even a polititian yet when Russia collapsed. I have to agree with Behri here that you kind of clowned yourself.
"It's as if they were robbed.."
No, they were LITERALLY ROBBED. It has happened before and it will happen again, as long as fractional reserve banking and the federal reserve still exist.
Justice should be served and hopefully some day the Lebanese people will find Hezbolla and all the government officials and stick a sword through their skull and make blood splatter
@Tracchofyre what happened with the port?
As a Lebanese, this sums it up pretty well. I will make sure to use this vid to explain to people online our situation. Thank you, good sir!
thanks so much. Coming from someone here, means alot to me. I wanted to make sure I got this right -- not just the information but the emotions too.
@@uptin oh you did get all the info right, and a bonus on top is the fact that you tuned in here in a time representing the current situation instead of other content creators who made videos similar to this in an earlier stage of the economic crisis where it wasn't as bad!
@@CyberCatto fax
@@daddybruce8084 yuh
You made this video in April. Today, the black market exchange rate is 20,000 LL for 1$ and the minimum wage is a little over 30$.
We all hope this changes. Many thanks for making this video. I think it helps when our story goes viral!
It's insane how crazy the rate is going... My thoughts and prayers are with you guys.
It will Recover. Mark My word. The Lebanese Economy will Recover and the Lebanese Lira will be Stable. For Each 1US dollar= 1500 Lebanese Lira. Just Be patient. My Heart is for Lebanon and the Lebanese people.
@@uptin Just wanted to tell you that currently it has reached 30000 lbp for each $ and alot of stuff is priced at 40000 lbp
Well, im lebanese myself and i hate the fact that our currency is just so unpredictable, like one day its 15,000 lira per 1$ the other its 11,000... we suffered alot but we still have one thing... and that thing is hope, my god help us and help lebanon!
throw that thief hariri the saudi puppet out and make your economy they are trying to make you pay for resisting against palestine occupiers,they wanted to occupy your country and they couldnt now they are trying to hurt you by puppets like hariri
@@PsychoLA7 it's not a one or multiple persons problem. It's about the bad ruling system and the way politicians control everything and make divisions
@@johannesziaether3916 true, but people like hariri may put what saudi wants over the interest of Lebanon, if it wasn't for hezbollah country would have collapsed economicly and in terms of security
@@PsychoLA7 I won't go far in debating because it's actually very complications. And everyone is partially involved in the corruption even if they do other good things(like protection) . The only sure thing is that our ruling system needs to change
and they say crypto is unpredictable
What happens to Beirut breaks my heart. Hope everything gets better and I have the chance to visit which I postponed for years. Love from Istanbul
As someone who lives here, I'm impressed by how much this video is absolutely spot on
Same thing happened after USSR collapsed, rubles where de-valuated. Life time savings would get you few loafs of bread.
Watching this from Zimbabwe is a little surreal. Our stories are so similar it seems like you could drop a Zimbo in Lebanon, and vice versa, and they would hardly miss a beat!
May god ..
They share similarities in political corruption so your right Zimbo
Rhodesia*
@@MirrorRealityHD it's dead bud
Thank you for shedding light on our country's crisis. I'm 18 living with my small family, my mom has high blood pressure and my grandma has multiple illnesses, and medication is so expensive. People here are killing each other for food. Me and my uncle are unable to find proper employment. And it's not like the government is handing out money to people. I'm not the only one who's like this, this is the state of most people in this country, and it's only getting worse.
Enjoy your socialism. LOL
@@mt_gox really that's what u got to say?
@@ItsMeSNiPEZ da, comrade
@@mt_gox k
@@mt_gox you sound so ignorant there's no socialism here it's wild market manipulation, full anarchy, zero state control, anyone can set any exchange rate for any currency, any price they want for anything
I literally had no idea this had happened, I think more people need to be made aware of it
Do you like @n@L?
@Binsr No never i get my new of TH-cam
I really feel for the people of Lebanon, you guys definitely don't deserve anything like it. I am sure you'll come back stronger. Love from Morocco
Wow, no idea that this happened. The same thing happened in 2001 in Argentina, and we're experiencing those exact same exchange rate problems now.
I feel bad for everyone suffering as someone who receives fresh dollars from my relatives. Our country is suffering, so all the traction this video gets really helps us. Thank you
was Lebanon a rich country? How rich?
@@eduardochavacano Have you ever learned about history? The Middle East was the place of riches and knowledge.
@@Z10895 even asia. Then the west happened.
The same thing happened with the banks in the year 2001 in Argentina, suffering a huge crisis and a 400% devaluation of the Argentinian currency, the Peso Argentino.
Argentina is always in crisis
@@c3sargtx97 exactly lol
@ before the devaluation, 1 peso = 1 US dollar ; after the devaluation, 4 pesos = 1 US dollar.
@@elo.a.d.c.kporelmundo8304 then it is 75% devaluation as the value droped from 1 dolar to 0,25 dolar.
Do not mix devaluation and price rise.
Now is 1 USD 210 pesos 😱
I like Uptin. He uses easy to understand visuals for prices.
I'm from israel, i had a friend from Lebanon, i met online around 2010 we played dota 1 together for many years, he told me he left the country few years ago to work and study abroad.
I hope Lebanon can get back on its feet oneday, many Lebanese people seem pretty cool and rational people.
They hate jews.
Not just Israel but Jews in general.
@@alexlawrence572 who tell you we hate jews? we just have problem with isreal
@@hanan-sx5wk so where are Lebanons jews ???
Cool story glad u played dota and still remember game
I doubt it, no real arab befriends an “israeli” but keep on dreaming
I am Polish and love Lebanon with all my heart. I only wish you all the best, you beautiful, beautiful country.
My friend is half polish half Lebanese
Lebanon hasn't taken a break ever since the start of the civil war in 1975, yet you always see people smiling and managing to find fun in all of that. We really are the most resilient people on earth!!
Excellent documentation. Thanks for making this. Prayers and heart goes out to the people of Lebanon!
❤️
Excellent work! I had no idea that this was an issue, thank you for bringing this to light! Praying for Lebanon
❤️
I'm Argentinian and I completely feel identified by what these people are suffering.
In 2019 I met a girl in Rajasthan, India who ran away from Argentina. It was hard for me to learn how difficult life was back home. She refused to go back and still lives here doing odd work like working in a hotel.
I sincerely pray that life soon returns to normal and everyone can have a peaceful time . Cheers
3:21 moment of silence for the one fry that fell out.
That's a dollar down on the floor
I'm sure it was consumed off camera 😋
Yeah when I went to Lebanon I used Lira and avoided dollars. Even though dollars are easier for me to calculate, the exchange rate from dollars to lira and paying in lira was waaaaaay cheaper.
As a lebanese we are hopeless and the only way out of this is by moving to another country 💔
Akid
Or fucking up the political groups by going to a civil war.
A few years of desperation for a better future for my kids. Doesn't seem a bad tradeoff.
@@arandompanda1349 no man, i'd rather leave this shithole and live somewhere else enjoying the simplest rights than experiencing another decade of war. i'm not gonna let my kids live here even if this place becomes paradise on earth. so better run for your life!
@@rafikooo1 yeah to each their own. I m not gonna go stir up a civil war, however if one were to break out, i am getting back every right that was taken away from me
The problem is that we can't travel because if we want to travel we need dollars and euros and now 1$ is like 15 000
my dad lost a lot of money bec of this but thank god that i was living in a different country then lebanon at 2020 due to corona virus
and now it is cheap for us in leb because of dollars. But i feel so bad for my fellow leabanese people
ميسور حظك حلو
This is the best Bitcoin ad I've seen in a long time.
That's literally Bitcoin in practical use. No virtually no government control and backing, the currency being basically pegged to nothing and value solely depending on what the other party thinks it's worth. Think about it.
@@DasAnanasLP If the people would have some savings in crypto, no goverment would confiscate it from them like they did in reality
@@elky21 you missed my point
i'm Lebanese, and i thank you for covering this
❤️
its so heartbreaking, i myself am a lebanese, and i had to move to the U.S. because of this economic crisis
Wish the best of luck to u
Ps. Good music taste (ghost)
Just make sure you contribute to whatever country you move to, so the same thing doesn't happen there.
@@tomw6947 your comment is pointless ,this didn’t happen because of a lack of contribution , this happened because of corrupt politicians nothing the citizens could’ve done .
@@MrPlayer022 Ok, politians are horrible in every country.
@@tomw6947 ur right man, thats what im planning to do
As a Filipino the "resilience" thing really hits home. Due to ineffective action against covid, the lack of support for those without jobs, the massive drug epidemic, the government just says Filipino's are so "resilient" instead of trying to fix the actual problems. Greed, corruption, incompetence, and lack of responsibility. It unfortunately seems that the Philippines is plagued with the same type of people running the government. I only hope my country doesn't have to deal with a crisis such as this
Wierd... India is facing same 'Atma Nirbhar' (Self sustain) gimmick going on.... Didn't realise this is happening to other places... Very easy for Government to shoulder their failures to it's Citizens
exactly!
Its on the way tho, philippines is already in debt, idk exactly how much but i know its waaaay too much for them to repay
@@coolcab05 Still better than the gimmicks the Congress Nd its allies did to India where hyper inflation,bomb blasts,scams,extremist support were being done every alternative day.
@@mustafafernandez1038 pretty sure they said it was trillions in philippine pesos/billions in US Dollars
there’s a lot of corruption in Malaysia politics also. damn i hope we dont get to this situation. my prayers to lebanon 🇱🇧
Semua negara Ada kes rasuah cuma Malaysia sahaja bodoh ada pembangkang Yang suka memburukkan Malaysia Di mata dunia waktu dulu
Kita tak tahu kes rasuah negara lain sebab Kita bukan rakyat mereka. Dan hanya merekka Yang tahu sebab mereka tak mahu negara mereka buruk Di mata dunia.
@@shahkryulniezam4252 rakyat Malaysia bertindak sedemikian utk cegah rasuah dah korupsi dari terus membarah. Kalau diam biarkan saja lama2 jadi lg teruklah. Takkan nak biar jadi mcm lebanon n venezuela baru nak salahkan pemimpin yg korup
@@SodaQuasar betul muhd ariff, saya sokong.
@@shahkryulniezam4252 kalau tak nak malaysia jadi macam lebanon one day, its up to us to make a change. Kalau rakyat tak buat something, the government will be more and more corrupt. Bila satu hari nanti jadi macam lebanon, jangan salahkan sesiapa. Its in our hands. Do what's right, not what's easy. We should work together so that Malaysia has better opportunities for our children.
Extraordinarily excellent video. Thank you so much for a wonderful explanation of what is wrong in Lebanon today.
❤️
Ahh resiliency - one of the things corrupt governments love the most. Hoping for a good turn of events this year for Lebanon.
Correction: the explosion didn’t only injure people, it killed a lot of people too.
@Sugarbunnies is this supposed to be funny? My friends and some of their family members did die. I was lucky to be out of Lebanon as I lived close to the explosion.
@Sugarbunnies Wtf is even this question man
@@jesus99384662 RIP to Your Friends and There family members
@@jesus99384662 I hope lebanon finds a way out of these horrific times, such a beautiful country, such nice people, it's just heartbreaking
@Sugarbunnies the biggest non-nueclar explosion ever
you think this is funny?
life savings frozen? this is why cryptocurrency will take over
Yep that type of system will just make everything almost imposible to tamper with.
Hey Ice, didn't think I would see you here. Yeah, definitely would be needed the most in Lebanon.
Fuxk yeah
but... you need a exchange to turn crypto into real world cash, and that can freeze your money
Says a crypto scammer.
This could be a perfect advertisement for Bitcoin and other crypto. This is why capital needs to be decentralised!
Ditto.
Wrong.
@@billjamal4764 insightful!
@@Shiddy101 thanks
Yeah 100% agreed we had similar situation in Iran in the past 3 or 4 years 1 usd was used to be around 30000 rials and now its 250000 it was as high as 330000! If only I invested my money into bitcoin even back in 2018 when btc crashed I would have been a much wealthier person by now...