This country is switching to US Dollar

[@samuelbarringer715]

One of my friends showed me a 250,000,000 Zimbabwe dollar bill in 2008 and told me it was was worth less than a US penny. I think it is terrible what is happening inside Lebanon.

[@uptin]

That’s so crazy!

[@flo7717]

I'm am a Zimbabwean, we us US dollars as our local currency

[@SpenzOT]

@@uptin At its peak, Zimbabwe inflation hit a inconceivable 89.7 Sextillion percent. $1 US was worth over 2.6 billion Zimbabwe dollars.

[@viktorianas]

Zimbabweans must be great at maths.

[@ncubesays]

Actually yes, Zimbabweans are brilliant in arithmetic. Goods are marked in one currency, pay in another currency and get your change in yet another currency. Somehow it feels pretty normal even though it's far from it.

[@randomlifts]

Nice to see people wanting to stay in Lebanon and help the country.

[@madelainepetrin1430]

Well it's a beautiful country, good weather...why not?

[@ericktellez7632]

Disagree, we had a massive migration from the Lebanese a century ago into Latin America and they brought a lot of things into our region that made it so unique, it is time for a second wave now, most latinos all have a % of Lebanese heritage anyways because of that migration lol

[@tonyb6485]

Lebanon is rich in human resources. Dont fall for the dollars. Use gold and silver.

[@khiem1939]

@@tonyb6485 Kind of difficult to pay for a Starbucks coffee with GOLD!

[@bakerkawesa]

Most people prefer to stay in their country. It's often a tough choice to leave.

[@molak34]

As an Argentinian that used to exchange 1 peso for 1 dollar (now is 500 pesos to 1 dollar). I can tell that sooner or later politicians are going to overspend, print money out of thin air and break the parity with the US dollar... Adopt the dollar or the euro.

[@Madame702]

This just fascist propaganda. Good luck.

[@kc4276]

That’s… just sad.

[@bramha9680]

With the ridiculous amount of freebie politics happening here in India I can clearly see our future, but I'm helpless 😢

[@davidjacobs8558]

@@bramha9680well, some famous person once said "Democracy will fail, when people realize that they can vote to print money and give it to themselves" and that's exactly what is happening in all countries.

[@bcmortimer]

After the WW Argentina was one of the 20 richest countries on earth. They also at one point had some of the largest gold deposits on earth.

[@seanthiar]

It's there like it was in Germany. I remember my Great-Grandma born 1914 telling stories how she waited with her mum on payday in front of the company where her father worked to get the envelope with the money from him and immediately going shopping, because the money would loose the worth over the day. What you got in the morning lost already more than half of it's worth at noon. They had a big garden and a few animals they could use to trade, because with only the money they had starved. She still had a bank note from 1923 labeled 20 million Mark. She told me at the start of that year a loaf of bread costed 500 Mark and at the end of that year they payed 5 billion Mark for a loaf of bread.

[@goldenmemes51]

Did ur grandparents tell u about third reich or ww2 stories

[@ludwigvonmiseswasright4380]

@@goldenmemes51 When Germany hyperinflated, Hitler rose to power because he brought order. When France hyperinflated 1790's, Napoleon rose to power because he brought order. Scary to think who the USA will turn to, when the USD is over-printed

[@flagshipbowtie]

​@@goldenmemes51 gews are the cause of this

[@elifighter]

Bro ww1 not 2​@goldenmemes51

[@spaceman69]

​@@goldenmemes51yeah. She told story of how the people were crushed by the bankers when the people try to rise up. You cant win against the bankers, they have their grip on everything on the world

[@Ressuu]

In Lebanon's case Dollarisation is a great option when the government is utterly corrupt and cannot be trusted to handle monetary policy as it will abuse the printing of money (like it has). It cannot print dollars so that's one way to stop this corruption. It's not ideal for the economy, but it's the best option until something is done about the corruption.

[@tronlegacy2664]

At least the American dollar can’t be touch by outside government this is a win for the country and its people.. but I but understand they loyalty to the country and not having to depend on others.. as a American myself

[@HermanWillems]

It's a way of voting against your government. So GOOD.

[@JomerTB]

This isn't a new concept. Ecuador has been using the US dollar since 2000 and they have an economy and population more than 3X bigger than Lebanon.

[@uptin]

Yes of course. The concept of Dollarization began in the 1970s

[@RoyalKnightVIII]

Yes and it resulted in a coup detat that only ended after the USA threatened to destroy Ecuador

[@feedercastro9654]

Because their leaders are morons

[@bodyloverz30]

Plus, Panama & El Salvador.

[@LaoSoftware]

American money and Japanese money are very valuable. I carry both dollars and yen in my wallet. People will not reject American money or Japanese money.

[@piratenu1]

As a Sri Lankan we experienced this for couple of months. After a painful IMF process everything started improving. Now the local currency started to appreciate against the dollar.

[@georgevavoulis4758]

NEVER under any circumstances do anything with IMF or World Bank both are a Devils Bargain sell out your people and give up the sovereignty of your nation

[@ctynwbraygalm]

haha good you laughed at india? china scammed you. never doubt indians.

[@mohamoudosman9233]

Srilankan rupee is improving alot after now monetry policy done by Government of srilanka Good luck srilanka Last Year Was Realy bad year

[@piratenu1]

@@mohamoudosman9233 last year was so bad. When I travelled to Singapore, most Singaporeans were like so helpful and sympathetic, one directed me to one of the cheapest restaurants, which I didn't take as an insult, but at least that's the only way of kindness they could offer.

[@mohamoudosman9233]

@@piratenu1 oh really that was amazing, Srilanka Came from roughly times Like Civil War,Corrupt Leaders Pandemic and more things I visited There It's very Beutiful natural Land Looking Like southern india Especially Kerala State Amzing Weather welcoming people Very Affordable I like to visit again this year

[@LauraTenora]

Been there done that: Argentina back in the 80's. They ended up issuing a new currency which was pegged to the dollar (each new peso was "convertible" into one dollar, as it was supposedly backed by an official reserve in dollars). Things were fine for a while, but as someone commented before, our gigantinc greedy governments ended up issuing tons of unbacked bank notes and of course things ran out of control. Now we're heading back towards hyperinflation with the dollar reaching 500 pesos. Those countries who replaced their currency with dollars, like Ecuador, and stuck to it... well... they have other problems but hyperinflation is not one of them.

[@sir1junior]

Ecuador has an issue with gang Cartels now.

[@1rjona]

​@@sir1juniorso did El Salvador. Let's see how El Salvador fares in a few years

[@BruderAdrian]

That's sucks Argentine people vote for that stuff. I think Argentina should adopt the dollar like milei has been saying. I'm not from Argentina but I think milei is right on when he says that Argentina can't be trusted (with it's current majority socialist society) operating it's own currency.

[@ronnelacido1711]

El Salvador adopted cryptocurrency as legal tender. How are they holding up now economically?

[@1rjona]

@@ronnelacido1711 well, they didnt default this year. And they survived 2022, which was when btc plunged 75%

[@Beatricegove733]

Considering the shaky economy, I'm keen to know best, how people split their pay, how much of it goes into savings, spendings or investments. I’d be retiring/working much less in 5 years, and sometimes earn up to $160K per year, but nothing to show for it yet.

[@carssimplified2195]

thats personal, you should connect with an advisor for proper financial/investment planning, never can tell what the future holds

[@Justinmeyer1000]

I concur to financial planning. I'm quite lucky exposed to finance at an early age, started job at 19, purchased first home at 28, got laid-off work at 36 just after the rona-outbreak in 2020, going forward, immediately hired an advisor to keep my head above water, and in return, I'm only 25% short of $1m after subsequent investments to date.

[@NicholasHarmon-ow3jl]

​ bravo! the whole markt has gone berserk now, almost not possible to outperform without expert guidance.. think your adviser would get on the phone with a newcomer? i'm in dire need of proper portfolio allocation ?

[@Justinmeyer1000]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@NicholasHarmon-ow3jl]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@DonaldMark-ne7se]

A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k

[@Jamessmith-12]

The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.

[@JacquelinePerrira]

in my opinion, the impact of the rise or fall of the U.S. dollar on investments is multi-faceted but learning how to grow your money has never been easier than now that you can explore and experience a truly diverse marketplace passively by using a well-performing portfolio-advisor.

[@kevinmarten]

Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/ analvsis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over 400k.

[@Jamessmith-12]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@kevinmarten]

Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@satiro]

Some countries already has done it officially like Ecuador and El Salvador , also Panama . The problem with this is that countries have purchase or get dollars which they do not make .

[@othmanskn]

Because these countries are so dishonest, they cannot even make real money in any form. They only know how to print money, fake money.

[@comeforaride]

They basically sold the country to US. Congratulations, they are now slaves. If you don't control your own currency, you do not have sovereignty. A slave to the slave master.

[@curtisscott9251]

El Salvador recognized BitCoin as LEGAL-TENDER. Yeah. Lawful money. It's been in a booming growth phase ever since.

[@othmanskn]

@@curtisscott9251 If all Savadorian were to use bitcoin, it's value will be extremely high that it will be worthwhile to steal electricity. With so many people losing their bitcoin money due to lost keywords in hard disks or memory cards, soon bitcoin will run out of money or take too long to create more. This is just Salvador. If the whole world try to use the same bitcoin, the problems will get even worse. Soon you exhaust the World's energy just to create bitcoins.

[@waywardgeologist2520]

You mean they don’t have free reign to just paper over their finances.

[@Emperor-Wild-Man]

It is ironic that in the US, we are fearful that the dollar is loosing its value, and yet there are parts in the world where they are using the dollar as a default currency in place of their current currency.

[@matthewkinder6910]

because they are stupid , anyone in libanon who has piece of silver or gold would be perfectly fine by now , or share of a US business , buying USD is very stupid. But this documentary is for average people who has no idea about anything really it seems.

[@mikedavison4313]

Its not about value, its about stability.

[@daa7241]

It will have bad effect on them in long run.

[@lovernotfighter]

People don't want Yuan or Rubles, Rupees etc... They want Dollars, a more stable currency.

[@joseph1150]

One of the reasons why the US is able to print money without consequence is the the dollar is critical for international finance and oil purchases. There is still a deficit of dollars that exist outside of the US system that is needed for transactions. So when dollars leave the US, they get sucked up into the international system and don't have as much negative effect on the inflation rate as it should.

[@MichelePonte]

I feel really bad for them, and worldwide inflation doesn’t help either

[@khaledahmad7204]

as an egyptian I hope we do the same, while here there are more people are still believing in "de-dollarization" and other bricks+ hillarious horseshit, especially the older people lol

[@sethfrisbie3957]

As an American I hope things go well for Egypt. Remember the citizens are not responsible for the actions of the government and not every citizen of a nation is the same. I honesty think it is a shame of what happened to Egypt. If you ask me I like Pre-Islamic Egypt the most because there are lots of traditions that were taken away by Islam yet in Christianity many of those traditions would have been mixed with Christian influences that preserve parts of the many traditions so those traditions that were taken away by Islam would have been preserved in some way instead of out right being taken away. This is no insult towards Islam yet something to consider. Maybe one way to get people to preserve some Egyptian culture from Pre-Islamic times is to have the Egyptian government give equal rights to the Coptic community for they follow many traditions that predate Islam.

[@mediocre3400]

​@@sethfrisbie3957"Mixed with Christian influences"? Just like how Christian Americans mixed their influences with Native Americans? lol

[@Cristian_M_]

Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life

[@tracyholian2944]

I’m celebrating a $30k stock portfolio today. I started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me

[@Muchen218]

Wow, really. I was able to make my $25k on invstment

[@geralyncainglet2626]

​@@tracyholian2944I’m looking for something I can venture into on a short term basis, I have $15k sitting in my savings

[@aprilclaudette2057]

Assets that can make you rich *FX *Btcoin *Stocks *Gold *Real estate

[@Brookeinda]

You’re right but a lot of people remain poor due to ignorance

[@AliASHTV]

If you didn’t mention it was Lebanon , i would have thought you were talking about Argentina.

[@Streleny]

Mozambik? Same

[@ronnelacido1711]

Or Venezuela at the height of its crisis. When you talk about runaway inflation, debt default and economic crisis, these countries are synonymous and interchangeable.

[@Streleny]

@@ronnelacido1711 or russia . In october starts.

[@comeforaride]

@@Streleny when did Russia have runaway inflation? Not since the 90's. What are you talking about?

[@comeforaride]

The best think that happened to Russian economy is De-dollarizing. Why any fool would want to dollarze their currency when USD printing and IMF are behind the inflation is just beyond me.

[@hilaryhongkong]

The Uber app letting you negotiate has nothing to do with their currency collapse. In parts of Mexico they also do that, and the Mexican peso has been extremely strong

[@marvinbrando722]

In what part of México?

[@WorldIsWierd]

many americans go to mexico. is this on a mexican specific app because weve never seen that

[@juan-ko5hz]

​@@marvinbrando722mostly in tourist cities and border towns. But many people will take dollars in the whole country as there's a currency exchange on every corner

[@ChristopherAbelman]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[@HildaBennet]

Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them

[@FinnBraylon]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@bartlyAD]

impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now

[@FinnBraylon]

My fiduciary is REBECCA NOBLETT ROBERTS, a renowned figure in her line of work. I recommend researching her credentials further.

[@bartlyAD]

thank you for saving me backward and forward hours of researching the markets, I just copied and Margaret Johnson Arndt pasted on my browser, and her site appeared top search, no nonsense at all. She looks impeccable..

[@chriscich]

This video hits hard on the whole idea of how many hours worked it takes to purchase things. Money itself is payment for your labor. But paying somebody in the wrong type of money, it only cheats you out of your labor.

[@Brandonhayhew]

First Venezuela is using dollar as substitute currency, and now this country is using dollars

[@RayMak]

This is really really sad

[@lucsabbagh5758]

great video uptin !! always a pleasure watching your content

[@uptin]

Glad to have Uptin your knowledge!!

[@mikevargas206]

...and people say the US Dollar will go down. Hard to believe that now

[@uptin]

Yeah it’s still the global default currency

[@Homer-OJ-Simpson]

Argentina is looking to use the Chinese Yuan.....because they are RUNNING OUT of USD! So that shows how much demand there is for USD. US Dollar will continue to have small declines as it has been for a couple decades but that's mostly because the US share of the total trade is declining as more and more poorer countries see increases in their economies.

[@urldroidsuperbot2139]

It would, if countries with sound finances, truly sovereign, allowed trade flows in their currencies. There are a few countries like that. 1. UAE, Saudi Arabia, Kuwait, Qatar when energy prices are high. But their security, income, currency are pegged to the dollar. 2. Switzerland but it does not have the scale and any plan to make CHF a global currency. 3. Singapore, depends on USD because of cross border trades 4.Russia, before the war. However, Russophobia and their incompetence did not enable them to take advantage of their sound finances and implement ruble as the only medium of exchange from their importers gorging on Russian resources. China and Europe has size. Europe is afraid of challenging the dollar's role and is full of bankrupt nations under ever-increasing debt and welfare-hooked old bums China has a Communist system and is full of unimaginable debt and can't imagine making yuan a global currency. To do that they need the currency to be freely convertible and have their banks located in all countries in the world and open up debt, equity, derivatives, real estate, commodities markets in China to the world. They will never do that. Japan, highest indebted country and a US colony and a shrinking one.

[@chronoshin8597]

People always over exaggerate an issue.

[@dale7326]

The rise of India as the next currency

[@brianflynn5491]

I’m sorry it’s been so rough for you guys, I really hope you guys good health and prosperous lives

[@Dave-my1we]

Lebanon was a shining example of stability, budding prosperity with incredible potential in the 1960’s and 70’s. Want to see what religious fundamentalism can do? Look at Lebanon now.

[@erosgritti5171]

If its stability lasted only about ten years, perhaps it wasn't a real stability

[@MillhouseSpeaks]

The US is loving this

[@uptin]

Especially during all the talk about "De-dollarization"

[@joshuagenes]

@@uptin I de-dollarize as an American because of Inflation. I stick the money in my trading account which automatically puts the money in treasury bonds and money market funds from which I can invest in stocks if necessary.

[@derylhenriquez2962]

Blame your government

[@ceeril]

@@joshuagenes Then I think you don't know what "de-dollarize" means or you need a new broker.

[@joshuagenes]

@@ceeril I just switch out of my native currency to another as quickly as possible. Treasury bonds are rich people's currency that go up in value while the dollar is poor people's currency. Walmart used treasury bonds to buy land for some of their stores, others use it as well. It is a secret currency.

[@AndreiiJikhh_]

With the current financial and economic situation world wide, i strongly believe that as smart citizens we shouldn’t rely solely on our salaries, instead we should look for more innovative means to make money

[@AndreiiJikhh_]

This is the third time this week I am hearing about the good works of Robert David, he is really popular, I guess he is doing a very good job

[@rnambala]

Lol bots

[@whoswho7815]

EVIL U.S has weaponized their USD and is the root cause of many countries collapse, Every country should join BRICS and ditch the USD.

[@jimrobinson6478]

Most wealthy people earned their money through investments. Very few earn a salary high enough to make one rich.

[@soniasettlemires8005]

@@jimrobinson6478 that’s the more reason one has to diversify all your sources of incomes

[@jakejrly1508]

A lot of countries use the USD on the streets. I travel multiple countries and I do not have to exchange into the local currency. That is good and bad but the BRICS will not over take the dollar anytime soon.

[@chriscleland7008]

What if it is backed by gold?

[@booroque4138]

@@chriscleland7008 no currency can be backed by gold😂😂.besides the US has the largest gold reserve too 😂😂

[@chriscleland7008]

@@booroque4138 You’re right if they continuously printed more. Do you believe that the US still has all that unencumbered gold at Ft Knox? I don’t, but I’m no expert! :)

[@jakejrly1508]

@chriscleland7008 not enough gold to run a modern economy. China have waaaaay to much debt to be back by gold. India is not stable enough. Russia..... a one trick pony economy. The biggest issue all the BRICS countries have is their inability to innovate. They will still depend on the developed world to trade for the beginning and final products.

[@chriscleland7008]

@@jakejrly1508 We shall see. Freedom awaits!

[@StephanieG.Augustus]

Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[@JasonB.Chisolm]

Wall Street pitched so-called quality stocks with high profitability and low debt, as a kind of insurance against whatever the economy might throw at you. Quality stocks have underperformed the S&P500 this year, My $200k portfolio is down by approximately 20 %, any recommendations to scale up my returns on investment

[@heatherj-o5j]

Nobody knows anything You need to create your own process, manage risk and stick to the plan, through thick or thin While also continuously learning from mistakes and improving.

[@CharlesT.Foster]

Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $3million in that time frame.

[@juliasalley]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?

[@CharlesT.Foster]

Stacy Lynn Staples is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@julioc4978]

The same issue is happening in Argentina, and it has happened in Venezuela already. People just lost "faith" in the local currency. That is the fundamental principle of FIAT currencies... You need a massive supply of Dollars to dollarize the economy, this is should be done by the central bank. Basically, if your central bank is broke, you rely on the little dollars and get sent from Abroad or brought in by Tourism. Cheers

[@elturistaCR]

It's similar to the situation of money in Venezuela. The people prefer receive dolar rather bolivar

[@LabRat6619]

Happens all around the world, there are more unstable countries than stable.

[@ahmedlunat1248]

Exactly the same thing happened in Zimbabwe.

[@ahmedlunat1248]

@@vvbgfsry I am not talking of illegal sanctions, I an referring to the total collapse of the Zimbabwe Dollar, and the resulting dollarisation of the economy. I know exactly what happened in Zimbabwe as I have visited Zimbabwe many times and have family there.

[@Whos-Who_69]

USA = Very Bad ❎ USD = Very Good ✅ man the Hypocrisy of These people 🤣🤣🤣

[@ProfessorFickle]

Well the Christian’s who remain in Lebanon 🇱🇧 think USA is Acceptable even good.

[@aidenbooksmith2351]

we have no choice man. I would go with Yen or Won or RMB or something, hell, even the Rand would be a good idea. But our remittances are in USD. It's the only way we can survive.

[@geraldalfieri121]

I love the way you add visuals and currency together. It explains things so matter of fact.

[@wvulture]

In Argentina we are about to do the same too!

[@alr6111]

Hell yeah🎉

[@wvulture]

Thing is, here we have had so many currencies throught the years (around 6 and removing zeroes every now and then), people don't trust anymore any new currency project. Back in the 90s the peso was 1 USD = 1 Peso BY LAW and politicians ended up screwing that too. What any other option do we have except dollarize?

[@danielpeter3834]

​@@wvulture Using British Pounds 💷 it's a wonderful currency and that's the solution. I mean EURO outside of Europe it's impossible but British Pounds it's possible. So Pounds are called Libras so instead of Dolarización go ahead and go with Librarización.

[@anohneemel3403]

The CCP Yuan?

[@goinggoinggone535]

@@anohneemel3403 Lol

[@diamond_h0us]

Great video. I not only learned something about the problem of inflation in Lebanon but I learned some things about Lebanon too. The people seem lovely.

[@brucebanner3566]

God bless Lebanon. I hope their situation gets better. No country deserves this. It may not mean much but I hope the Lebanese situation improves. Keep praying and do your best!

[@brianh9358]

This is probably a necessary step to stabilize the economy. However, the problem is going to be in the shift to dollars. Somebody is always going to lose - and it usually isn't going to be the rich. They converted their lira to another currency a long time back.

[@bodyloverz30]

Well, the French gave up the Franc, Italians Lera, Germans Marks, & the Greeks Lera. So dollars or Euro, its all the same.

[@andyt8216]

Politicians have really let Lebanon down. It looks a fantastic place. I want to go on holiday, but the currency situation is what has put me off.

[@MisterTMH]

Nice people, good food, beaches, skiing, Roman ruins etc. . Lebanon has a lot for a visitor to enjoy.

[@LuckStroN]

Wow what an informative video! I am planning to visit Lebanon soon.

[@uptin]

You definitely should!

[@kamaltohme6943]

On point explanation of the current situation in Lebanon. 👌🏻

[@yomommaahotoo264]

I am Indian. We are switching to gift card currency.

[@SaroLoBue]

Same as in my country Venezuela, they’ve reshaped the currency eliminating zeros to make people believe that everything was under control but it’s far gone out of their hands, now everything is in USD $ over there

[@guilleport]

Sorry chamo but you got what you asked for. Good luck.

[@SaroLoBue]

@@guilleport what exactly do you mean?

[@SaroLoBue]

@@KS-qy5lt I don’t know anymore, I’ve been living abroad for the last 15 years

[@McCov1]

The point is …stopping the government from PRINTING MONEY! If this can’t be done, then Lebanon has to use the US Dollar.

[@WitchMedusa]

Yeah at least the US is actually shrinking their money supply, if you look at the M2 money index you'll see that they are destroying money to bring down inflation. Very few countries would do this, of course the US won't do this for long, but use dollars now & switch to a decentralized private crypto like Monero in the future. At the same time hold your wealth in gold

[@rammachiraju]

US is also printing money at record levels. Only solution is Gold and Bitcoin to save your purchase power.

[@cristoff3]

And this is why Bitcoin will win. If you are reading this now, do yourself a favour, regardless of which country you live in, and buy some bitcoin

[@lankyrob6369]

​@@WitchMedusaits actually sick what the US is doing. Presently the US government is half the economy. Most dont realize this. They are slowing retail lending to a halt lowering M2. But they are increasing their own spending and budget deficit. The con that has been pulled is fascinating.... and it is a loooong play. Retail lending doesnt create inflation. But they have long planted the seed that it does. A retail loan carries a note which cancels out the dollars created. In fact more dollars will be withdrawn from the economy to pay back the loan with interest. Almost every properly vetted retail loan is WILDLY productive towards gdp. However... when the government creates treasuries to pay for it's spending it is only paid back with the promise to make.... more treasuries. A legitimate ponzi scheme by definition. The US debt and deficit is quite literally unpayable and illiquid. Only paid for by creating more than there was before. The government is always trying to pass this buck on to the citizens... who in the end will be responsible to deal with our debt and inflation even though they didnt cause it.

[@shaymoore1260]

Sorry I can't understand bitcoin or similar looks like a Ponzi scheme to me no tangible assets backing it just my opoin

[@erniesulovic4734]

Serbia went thru something similar after the Yugoslav wars and went to such an extent the numbers were so big on the notes, the locals couldn't count it. I believe one note had like 12 zero's on it. All thanks to the US and NATO. These days the currency is much stronger. Regardless if the prices are in USD$ the locals still do not have the money to buy things....

[@stephenjenkins7971]

Yeah, how dare the US and NATO stop an attempted genocide in Europe lmao

[@econhelp583]

My sincere condolences to the people of Lebanon for Iran taking over the southern part of their country. Iran is fighting a proxy war against Israel at the expense of the majority of Lebanese people. If Iran wants to fight Israel, they should send their own troops instead of paying and supplying Shiite mercenaries (Hezbollah) in southern Lebanon. Iran is a Shiite country waging their personal holy war at the expense of “host” countries that then suffer the damage of Iran’s war.

[@TheGreaterBenefic]

Cambodia is using USD, and its economy is booming now

[@ShawnPitman]

All the "pro-UBI", "pro just give me money" people in the US should move to Lebanon. I'll personally make you a millionaire there.

[@aidenbooksmith2351]

what are you talking about? We didn't get in this position by printing money. We don't have UBI, we don't have a social safety net. Lebanon is way more capitalist than the USA. This happened because of corruption, not government hand outs.

[@MarissatheXplorer]

Very insightful! Will this be the same future for 🇹🇷 Türkiye? I enjoyed your video from a few years ago about the Turkish economy. A lot has happened since. Can you please make another one? ❤

[@danielblue4460]

I can't believe Turkeye is falling.

[@noorskubanson1552]

As a first-year doctor and a teaching assistant at the same time, my combined salary from two full time jobs equates to 28'000 soms that's about $319 USD. I have to work 6 days a week from 7:30 AM to 4:00 PM making up to 67 hours of work a week, including night shifts. One hour of my work cost around $4.7 USD. I think I chose the wrong job 🥲 The country where I live is Kyrgyzstan. Every doctor has the opportunity to earn more here 😂Through corruption, bribery and embezzlement. I don't wanna to do though. It goes against my principles. And I am leaving this godforsaken country soon. Wish me luck 😊

[@waywardgeologist2520]

Imagine if Kyrgyzstan followed Singapores example when dealing with corruption and bribes. As an American I can say that Democracy doesn’t help solve the problem.

[@DBKarel]

I love how all currencies are just completely fake and you need to back them by $1 for anyone to trust them, even though the Dollar is equally fake.

[@davidjacobs8558]

US dollar is fake, but US military is not. when push comes to shove, US will send it's military to resouce rich countries to take their riches by force. that's what people of the world is counting on. It's not "In God we Trust", but "In AREA 51 we Trust"

[@vasantos-re4hb]

There are key differences that Americans enjoy - The Fed, the IRS, and massive consumption by a population. Name another country that has these three components?

[@solconcordia4315]

@@vasantos-re4hb Those are helpful American things but I would say that U. S. A. has real valuable products other countries want so the U. S. A. dollars have values because of them. We have guns and ammunition, grains and crops, aircraft, and high technologies. Of course, our having millions upon millions of millionaires subject to the IRS certainly helps.

[@solconcordia4315]

@@vasantos-re4hb Those are helpful American things but I would say that U. S. A. has real valuable products other countries want so the U. S. A. dollars have values because of them. We have guns and ammunition, grains and crops, aircraft, and high technologies. Of course, our having millions upon millions of millionaires subject to the IRS certainly helps. "I pledge my wallet to the toll of the IRS and to the Republic for which it stands."

[@stischer47]

The value of anything is completely fake. It's how much anyone is willing to pay for it. At one time aluminum was more expensive than gold.

[@adrianduggan4739]

It baffles me as an Irish person why we in the western world don't try support Lebanon more, its one of the few countries in the arab world that is pluralist and understands the importance of individual rights, it has a well educated population who are outward looking, a global diaspora - I really believe an investment in the lebanese people could be a genuine bridge building from east to west. Also speaking as an irish person, we as a people understand the reality of having more of our own people living outside than inside the country, we understand emigration, remittance, corrupt politicans and banking collapses. We also understand secterianism and how that creates rifts, we also understand what it feels like to have a neighbouring country disrespect our sovereignty. We stand with Lebanon and I continue to hope for your country that may enjoy peace, freedom and prosperity.

[@aidenbooksmith2351]

Thanks man. Ireland is the only western country standing up for us right now. We appreciate it.

[@AliSidTex]

Lebanon is the most westernized country in the middle east. You think that's great because your from the West. But in reality it just destroys society and eventually the economy. Same problem in Turkey.

[@joshuagenes]

Ideally a currency needs to be at the equilibrium between all markets in which it trades. Since the dollar is managed to the American markets it might not be right for other countries with their own local markets. Lebanon can compensate by building/attracting industry that that serves the dollar market which will bring in more dollars and hopefully higher wages.

[@halonoc]

Gotta stem the bleeding first. In the middle to long term. Yeah I agree. Hard for a country to have another countries currency.

[@waywardgeologist2520]

It doesn’t have to be the U.S. dollar. The country could produce a currency that is 100% backed by gold and let gold freely trade in the market. This usually isn’t suggested given it takes away power from the politicians. This will happen to the U.S. after it goes through it’s hyperinflation.

[@ajones363]

@@waywardgeologist2520 Ah yes, let's bring back the gold standard. THAT is a strong idea (and by strong I mean stupid as hell)

[@alihorda]

​@@waywardgeologist2520there's a reason we moved away from that

[@1p4142136]

Since in Venezuela the inflation is rapidly growing lots of people borrow short term loans ( for like 2 weeks or so ) then due to inflation they pay their loans with very little inflated money then the cycle repeats. Is this phenomena of borrowing short term loans also happening in Lebanon?

[@ludwigvonmiseswasright4380]

What idiot is lending this money? How can such a system persist...unless its the government with the printing press who is lending the money? In the US, people take out 30 year fixed-rate home loans, and never make an extra payment (why would you pay off a 3% or 6% loan when inflation on groceries, clothes, and a new car is closer to 13%?) The reason people can take out a 30 year low-rate loan, is because the US government backs all mortgages. The US government doesn't care if it loses money, because it can always print more.

[@rj6404]

The problem is these currencies depreciate so fast , people don't want to hold them , they would convert it to gold or other items that hold their value , US dollar is the strongest out there & people want to buy them since they know it will only go up or remain stable , El Salvador has Bitcoin as an official currency !

[@niweshlekhak9646]

The problem is Bitcoin is digital so money laundering cannot happen, so people still stick with US dollars.

[@StrumVogel]

Happened to Indonesia in 1997-2000. Everyone that had money used USD. Now I live in the U.S.

[@StySiddhi]

The irony is that both Sri Lankan and Lebanese people who used to look other people down end up being bankrupt ! Humility saves a lot !

[@yashpatel261]

Lol there are very few countries that are stable in this world. Mainly the big ones tend to be stable for the most part. Size has its benefits.

[@aidenbooksmith2351]

​@@yashpatel261Well, Switzerland and Singapore are fairly small and yet they're the most stable, economically and financially. And ofc really tiny tax havens like Liechtenstein and Monaco will be stable too, but no thanks to their own efforts. Switzerland and Singapore built themselves up

[@richirich999]

As an American, this makes me feel patriotic. Sending out love to the Lebanese, future American brothers.

[@eveadel1861]

lol gonna make it a state ? 😉

[@danielp415]

Fighting against dollarization is like fighting an unstoppable force. Other countries (venezuela, ecuador, soon argentina) have decided the pro's greatly outweigh the geopolitical risks.

[@barsaatdikhun9106]

"soon argentina" keep dreaming

[@davidchang5265]

@@barsaatdikhun9106 How do u feel now lol, Argentina is doing the switch rn

[@barsaatdikhun9106]

@@davidchang5265 argentina is not dollarizing lmfao, in fact if anything the usd dollar is losing power because inflation is almost gone…

[@atherum]

May Lebanon be liberated and free 🙏

[@CamioneroblW]

The best way to stop the inflation or at least control it is to adopt the USA dollar .

[@sergioflores1929]

This channel is criminally underated

[@mohammedallha61]

They did this to themselves Lebanon used to be the bank of the Arab world there economy was the strongest in the region they had more gold and dollar reserves than any other Arab country but instead of improving themselves more they said no we want to go back to be poor

[@ChampagneandWaffles]

Their wealthy politicians did that, not the majority of the Lebanese people.

[@lukewackler]

Maybe in Lebanon they should not support terrorists. The economy is only going to get worse.

[@sh_iba]

The terrorists are the ones below them.

[@aidenbooksmith2351]

What are you talking about? We don't support terrorists. Hezbollah get iranian funding. We don't fund them, they exist here against our will, destroying our national reputation and plunging us into wars. The government, in all its corruption never supported Hezbollah nor paid it a single dime. It's all Iran.

[@Cregsmith]

Lovely to see my fellow bau classmate showing you around lebanon ❤️❤️, and a great video btw

[@BAK87]

I wish good luck to people of Lebanon regarding exchange rate and coping with the inflation !

[@ivorladia]

This is happening in Cambodia

[@mrhand3350]

Cambodia is now new us state, governor:Hun Sen- Democrat party

[@chronoshin8597]

Hmm...I didn't pay attention to this country. Maybe I look into it when they imploded.

[@WoJackMan]

Lebanon should pull an El Salvador and adopt Bitcoin as legal tender. Exchange between Bitcoin and dollars and the country will stabilize

[@fred-gg]

El salvador was using dollar already decades ago before bitcoin invented.

[@uptin]

Yeah there are stable coin wallets being introduced soon as well

[@nazmdar]

This is exactly the story of Iranian rial. Currently 1$ equals more than half a million rials. It means 100$ is worthier than 50 million rials. We do not have any metallic coin as their metal is much worthier than their value. We can not pay almost nothing with cash. We use electronic payment in rials. Our most valuable banknote is 100000 rials which is almost 0.2$.

[@Unclefo]

Dedollarization? Fantasy! What makes US currency strong is the economy, ingenuity, stability and strong military. Good luck to those wanting another currency.

[@orlandovelastegui1391]

I’m a Hispanic American my parents came to the United States in 1962 from Ecuador and Ecuador had the same problem with hyperinflation and as soon as they changed to the dollar everything got better.! Why would I want to get paid Lira? What happens if I get a salary of 100,000 lira and the lira loses value as I get paid that means I’m working 40 hrs for less money???? That’s doesn’t make sense!!!! Definitely you need the American dollar to stabilize you economy!!! Theirs more benefits than down falls.!

[@Friedaelsa283]

Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?

[@maxluna4157]

Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong

[@jerrypaul2062]

​Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@dicksonclark3987]

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[@cristinaaguilera1880]

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[@raphaelpaul7140]

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[@rayabe]

Great video Uptin; well narrated. You forgot to mention the real reason for inflation: the money printer!!!!!!!!!

[@HavokR505]

pegging your currency to the US dollar while lacking the properties of the US economy is really stupid.

[@LivingWithGout]

Venezuela is doing the same, and it’s arresting their hyperinflation.

[@uptin]

Here’s more about how Lebanon’s crisis started. This was from 2021 so the rate was only 12,000 at the time. (Now it’s 95,000). kzbin.info/www/bejne/omrYnJRopdxpmNU

[@Fermifire]

Isn't this the same country Israel is bombing rn?

[@ikengaspirit3063]

Doesn't narrow it down enough.

[@aidenbooksmith2351]

Yep. We're being bombed rn. 13 air strikes just yesterday.

[@BG.Defender]

The currency board is the solution for countries like Lebanon and Argentina. It works really well in my country. Our currency (LEV) has been pegged to the Euro for 23 years now. So 1,95 LEV=1 Euro. The currency board = stability

[@EpicThe112]

Your currency Lev was originally pegged at par with the Deutsche Mark at par then in 1999 when Germany replaced the Mark with Euro the Lev uses the DEM to EUR pegged rate 1.95583 DM = €1. UK used to have a pegged rate to German Mark October 6th 1990-September 20th 1992 2.95 DM = £1. Officially, the Lebanese Pound is pegged to the $ at 15,000 Lebanese Pound = $1

[@barsaatdikhun9106]

argentina already had a currency board and failed, thats not happening again

[@BG.Defender]

@@barsaatdikhun9106 Yeah true. But i read about it after my comment here. So my mistake 🙂I thought if the currency board worked well in my country it must work everywhere in the world in the same way. But this is clearly naive 🙂

[@pita-9]

Issuing a new currency and pegging it with the USD won't solve anything. It is that what got them into this crisis in the first place.

[@alr6111]

Lol. Dollarization fixes runaway inflation but damages your export sector while emboldening your imports. Its different for every country but to say dollarizing is the problem is incorrect

[@fred-gg]

Regardless of what currency they decide to use they cant solve the problem if their economy is bad in the first place.

[@yia01]

@@alr6111 the world reserve currency is teh dollar. american reserve currency is gold.

[@savannahsdad1966]

I studied economics in college. In one class, we were discussing the currency crisis in Brazil. They were renaming it, stating its value, and then a short time later, its value was considerably lower. A Brazilian classmate made a keen observation- “Perhaps the renaming of the currency and shifting the decimal point to the left is not the solution.” The basics of monetary policy indicate that you can’t determine M1, or the money supply, based on a whim or the polls. Responsible money supply will result in stability, as long as the other variables are stable. Irresponsible monetary policy will always make things worse.

[@Bittzen]

And fiscal policy, as they collude together

[@littlebrit]

Your video is really well made. I am also using dollars because I don't trust euros. I think soon just one currency for the world - dollar.

[@Western_Decline]

nobody wants that, dude

[@TheGesox]

One World one Currency : Bitcoin

[@davidchang5265]

@@Western_Decline Maybe not, but that's differently where the current trend is going towards

[@shehanism]

What caused Lebanon's hyper inflation?

[@sevenstargoal]

Corrupt Government led to a bank collapse.

[@fouadkhattar]

Corruption and hezbollah

[@chronoshin8597]

Long stories. In short, years of mismanagement, corruption, overspending and poor economic policies.

[@LostNavigator]

​@@chronoshin8597I think that the U.S. is on the same path.

[@Dorrrr1111]

And having a terrorists running the country

[@DonOmarRamiro]

0:55... I know this has nothing to do with the video, and I dont care which god she has, but... OH MY GOD that girl is beautiful.!

[@steelbiceps]

😂😂 yeah right he looks like indian girl

[@richardbenitez1656]

Lol stop simping, but yes she is beautiful

[@primeral]

Keep watching, they're all beautiful

[@V45194]

Bulgaria experienced a period of hyperinflation and widespread bank failures in the 1990s as well, until it introduced a currency board, like the one proposed by the academic in the video. Since 1997 the lev has been 100% backed by - and freely exchangeable with - the central bank's foreign currency reserves (originally DM, then Euro), at a fixed rate. This model is not ideal either - some economists have argued that it distorts trade and potentially impedes growth - but it did bring about financial stability.

[@alouie001]

Ecuador dollarized and no longer has currency shocks. It improved their economy. They no longer have hyper inflation. They could always use the UAE Dirham or the Saudi currency.

[@aidenbooksmith2351]

I wish we could use literally any other currency. We know the USD is tanking, but that's where our remittances come in. We only get USD, maybe Australian Dollars or Canadian Dollars, but not more. I wish we could move to a more stable currency like the Won or the Kuwaiti Dinar, but alas, USD it is.

[@raulr4493]

Bitcoin would fix this 😉

[@marcanthony7020]

Yeah, we all know Bitcoin isn’t subject to wild fluctuations But please, buy bitcoin lol

[@rikilshah]

Find the right market for Lebanese exports. And keep imports in control. It is the only way to stabilize a hyperinflated economy. Austerity measures are also needed.

[@alr6111]

Heavier exports would increase the value of your currency. You want more imports, not less to add a price pressure on goods.

[@DrAElemayo]

Government salaries and bonuses are a huge drain on their economy as well

[@rikilshah]

@@alr6111 When you export goods/services, You get Foreign currency. You peg your currency to that reserve which would bring stability to the exchange rate. Also, you can't import stuff without foreign currency. So, All in all, Exports are necessary.

[@chronoshin8597]

Is far more complicated than that.

[@LaowaiDaveJCP]

Any country with debts = IMF declares bankrupt/default US with more debt = raise the debt ceiling and print more money

[@waywardgeologist2520]

A day of reconciliation is coming. Better get gold, silver and other commodities to ride out the rough ride ahead.

[@davidc2072]

IMF declares them bankrupt when they stop paying. World investors, including even CCP and central banks throughout the world continue to buy US debt. Legally, US cannot print money unless they sell debt to back it up on international markets, which the government then pays interest in (currently the highest of all major economies, which is making our currency stronger and has reduced inflation from ~8% to 4%). So your indignation is misdirected. Defaulting countries should get their own houses in order. The only reason everyone continues to buy US debt is because of the strength of the American economy ($350+Million consumers with large disposable income and high consumption). So compete! My father was from Argentina. They have stupid protectionist trade policies. If they dropped those and created a Latin American Free Trade zone, they’d have a unified market with 2x the population of USA, and far lower labor costs that could compete with US, causing offshoring of our labor and foreign investment. But all of this takes time, and these countries want to be as rich as USA, but they want it “now.” Unfortunately, life doesn’t work that way. Unless Jesus comes and redistributes income, you won’t find anyone in any country who will give you a majority of his labor/income just so you have as much as he. Many people want socialism (me too if it could work and was administered by an omnipotent AI instead of fallible humans!) but everyone wants someone else to pay for it.

[@LaowaiDaveJCP]

@@davidc2072 did you just say "so compete"? Dude competition is on even tho the global establishment is 100% unfair but real warlords in power are still so pressed they order your elected politicians to make competitors to behave! International rules based order my foot rules that are designed by them to benefit them. Don't worry the world is changing and people are waking up to this American scam. Not like leaders didn't try but they ended up being executed by your warlords. Not this time i bet

[@howardsimpson489]

The US dollar is not in trouble. The US debt is actually because everyone wants to buy dollars, the US generates more, it goes overseas and looks like debt.

[@travisspicer5514]

If they stop paying because they can't afford it then yes it is a default due to bankruptcy. US has always paid so it hasn't defaulted on its debts due to bankruptcy. Also, US debt stabilized US currency which many countries peg the value of their currency on so realistically the US shouldn't pay off all of it's debt. There was an assessment of this in the early 2000s when the US looked like it would to determine if it even should. Politicians made that a moot point either way.

[@Mizuryryn]

Can't wait for using Lira paper for Artistic purposes

[@MRBCA500]

I liked the content. My first time seeing your videos. The music was a little loud and distracting and it was a little long and repetitive at times. Further editing and experience will make future ones perfect. Good job.

[@joeyr1171]

I find it funny the collage lady that is totally against using the US $ then says she will not stay in Lebanon but leave, sadly the Corruption and politics is killing a beautiful country

[@nkh187]

Special thanks to the US and Nato for prolonging the civil war in Syria. This destroyed Lebanon. We couldn't export via land. We had to deal with and pay for over 2 million Syrian refugees. No foreign investment in Lebanon due to instability. US sanctions such as the caesar act designed to punish Lebanon for not taking the Nato/US side. Still people blame the Lebanese govt for all our problems forgetting that before the 2011 war in Syria the country was booming

[@RamMohammadJosephKaur]

So agree!

[@gtr5860]

Turkey also in Syria.. they have proxy there 😂 plus where is Hezbollah

[@Agneschloe]

Excellent video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?

[@verenaschneider3634]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@karlton510]

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[@AaronHalfker]

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[@GregAren121]

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[@KrishnaVishnu-ss8qz]

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[@boris8787]

For obvious reasons that would never happen in Chillingbourne.

[@matthewhuszarik4173]

This is been happening all over the world for many decades. Many less developed economies accept US dollars in fact some of them prefer them. I remember back in the 80’s in the Philippines you would get much better prices if you paid in dollars and the larger the denomination the cheaper the prices. $100 bills were by far the best way to shop.

[@sn350channel]

When the dollar crashes it will be world chaotic

[@Evan_Gr]

So essentially the professor of economics suggested a coralito instead of dollar. So let's hide the fact we use the dollar. This is ridiculous, you see what happened in Argentina with that. You see what happened to Euro countries, in which Euro is technically acting as a foreign currency, in which they have no direct control of. Only a national currency can salvage Lebanon, a new currency in a new political system that will ensure the wellbeing of the Lebanese. The later will bring a new and stable currency, not any foreign currency that makes life harder...

[@chronoshin8597]

New currency in new political system. Sound good but who would believe it? As mentioned in the video many times, trust is gone. Is very hard to build the trust back.

[@danielblue4460]

Hahaha. It will not happen, not in your lifetime.

[@Western_Decline]

Lebanon needs a Marxist Leninist government.

[@Evan_Gr]

@@chronoshin8597 Indeed. I'm simply pointing out the best solution for Lebanon. I know how it is, we pretty much have no trust in our political system either, over here in Greece. It is hard. But we hope we can achieve it one day. Our peoples in power, our peoples deciding our dates. This is the solution, my brothers and sisters in Lebanon. Wish us all the luck and courage to get through this, especially you at this moment. Such a pretty country and full of history, but now in this situation... It's so sad and unfair!

[@Evan_Gr]

@@danielblue4460 We need to believe we can do much better in our lifetimes. If it does not happen, at least we would have tried.😉

[@myfavoritethings4504]

Islam goes up, coutry goes down...

[@UhrBushaltestelle]

🤣🤣