When a Central Bank Becomes a Ponzi Scheme

[@wallstreetmillennial]

Limited time: get 6 free stocks when you sign up to moomoo and deposit $100 and 15 free stocks when you deposit $2,000. Use link j.moomoo.com/00iPZo

[@ladyluckclubllc]

Hi @Wall Street Millennial! Can I use your pyramid illustration for a video? It's the only clear illustration on the entire internet. I will be sure to credit you and your channel in the video.

[@mrroger-t6m]

Fgg

[@kenyanroots]

As an African, This what happens when a society thinks that being corrupt is equals being clever while honesty is viewed as being dumb.

[@depreciatingasset]

Yep that's exactly what happens in Lebanon and they think themselves smart. Bet you saw a few lebanese in your country. They get together with corrupt regimes everywhere

[@alabastertheunicorn3204]

Well it's an American saying, eventually the chickens come home to roost.

[@blasphemynbagels9324]

This really shows you how well constructed America is as we are constantly being scammed by our own country yet we support them and do nothing

[@depreciatingasset]

@BlasphemyNBagels is that what you got from this? The US and the west have much better institutions and laws. The principles are different. It's based on most protections with least interference, ie compromise and trade offs, realizing that human nature will always be bad but trying to contain it as much as possible. This is based off 19th century principles of Smith, and others blanking on their names now. Liberal democracy is much better. If anyone is ruining it, it's the new leftie tankie guys claiming to be messiah like bernie and AOC ruining everyone's freedom in the name of protection, ending up with neither. It's the new socialists

[@blasphemynbagels9324]

@@depreciatingasset yeah but healthcare is expensive, no job security, openly corrupt government officials, and etc. Keep in mind we are the richest first world country our country is merely a front to move money up

[@karimelzein9115]

The extent of the damage could never be calculated. Imagine expats longing to come home after a lifetime (literally) of work abroad are unable to anymore and must work until they die. Children growing up had to see their family run out of money. Working age people are forced to flee from their land, leaving family, friends and loved ones behind to make ends meet. The extent of the damage can never be comprehended, the effects of which will echo for generations to come, indeed.

[@id10t98]

Imagine working your whole life in your own country and not being able to retire and having to work until you die, when one illness can bankrupt you as well. That's the USA.

[@AndreasFilms]

I stayed for a few days in Lebanon in 2019 and when back again about a month ago. It's a beautiful country with amazing people. It's a real shame they have to go through this. I hope they get justice in the end, but it seems unlikely.

[@Jewzi123]

You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

[@depreciatingasset]

Castles of sand built by corrupt political and social elite

[@johnflatt1288]

So much history and culture all the way back to the days of the Neolithic and Bronze Age. The rise of Phoenician metropolises like Tyre and Sidon. Also the legendary birthplace of Europa. Such a shame, it was called Paris of the Middle East in the 70s due to its rich culture, art and writing scene, and libertine attitudes compared to more socially conservative neighboring countries. 😢

[@pauldacus4590]

There are vid's on youtube about remote workers living in Lebanon, who make $60-70K/yr in US dollars, who have essentially become multi-millionaires from their income.

[@hishamzawil9938]

Please do share!

[@ElPenetrator21]

Multi millionaires in Lebanese pounds maybe

[@augustinefaithdefender]

Yeah you said like everybody could do that 😂 there are people like that all over the world not just lebanon. I am working remote for two companies and one is in europe as well. It is competitive as hell! 😟

[@bey976]

@@hishamzawil9938 what he means is they can buy property in land after converting to pounds in the black market I know people buying buildings

[@sloppypotato00]

Maybe they're all professionals in certain jobs like engineer or else

[@jasonallen3678]

Like the way you explain serious and complicated financial situations straight forward,without being cute for us regular folks,so I'm subscribing

[@AaronVanWolfen]

Please, can you make a video about the Jordanian economy??? I found pretty insane that one of the most scarce countries on earth was able to handle millions of refugees and still maintain a strong currency.

[@chris0000924]

Free market economy

[@NEXTGENCOMEDY4XBOX]

America and pretty much every country sends them money

[@zenastronomy]

centralised state protected economy

[@Deloowix]

Refugees are cheap labour so why would it cause their currency to worsen?

[@samsonsoturian6013]

The currency isn't exactly storng, the bulk of the population simply is sustenance earners and always has been. Also the refugees aren't as much a burden as you'd think because the Jordanians simply let them starve.

[@tektronix475]

Same sh*t happened to my country. u guessed it rigth...argentina.

[@robertsteel3233]

How can you rob a bank if you are just getting your rightful funds, you're just making a withdrawal? If the bank are refusing to give people their money, they are the criminals.

[@Dwightstjohn-fo8ki]

you're transposing industrial countries laws and "attitude" onto a country that really doesn't even exist.

[@qwaszxerdfcvtyghvb]

exactly ... i was thinking how a judge can decide that someone is a Criminal if he takes what he owns,it would be an interesting case to follow

[@BlackJesus8463]

@@qwaszxerdfcvtyghvb By that logic they could've arrested the bank manager but they didn't.

[@id10t98]

When you own the world you can do as you please. Just look at JP Morgan, Goldman Sachs and others as examples.

[@sloppypotato00]

aren't all banks are.....

[@burningmetro964]

A lot of countries are in the same position. It's just a question of time

[@samsonsoturian6013]

Most places aren't half as degenerative as Lebanon

[@BlackJesus8463]

Fractional reserve lending only has to exist long enough for world war 3. lolz

[@Wa7edmenalnass]

Lebanon is ruled by mafias and former civil war criminals.

[@paulnyagini]

Super right

[@digit313]

Add Pakistan in.

[@georgezaharoff]

The people of Lebanon I have found to be beautiful and warm. It is such a shame everything that has happened to them.

[@samsonsoturian6013]

Not if you live with them

[@Jewzi123]

You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

[@ETS186]

Lebanese outside of Lebanon are some of the world's best business people. Carlos Ghosn (not a crook, dude saved Nissan and butthurt Japanese dinosaurs did him dirty), Carlos Slim, Nassim Taleb, Tony Fadell, etc. But inside...

[@jewlstagara4562]

That's true and whole time I thought Carlos Slim was Mexican, I didn't even know he was a Lebanese immigrant until you mentioned it lol

[@shawkathelmy1461]

Nice explanation! it would be e really good if you made a video addressing the problems egypt is facing right now

[@davianoinglesias5030]

Right now there are so many countries along that path,, we haven't fully recovered from the economic devastation of Covid and we are already facing massive inflation. Countries are at the limit of borrowing, Sri Lanka has caved in, more to follow. I'm worried because its this scale of crises that results in big wars

[@JJs_playground]

Around 2014 some acquaintances (we live in Canada) told me they were opening up bank accounts in Lebanon because they were giving an interest rate of 20% on the Lebanese lira and 13% for the USD. So I told my dad (we are Lebanese) and he said no way, this makes no sense. Glad my dad had the foresight to realize this was going to collapse. But I have cousins and relatives that lost millions in Lebanese banks. Well they didn't lose it, but it's still locked up in Lebanese banks that they can't access.

[@casucasueq4479]

Every financial story in 2022... I gave/invested/stored my money with _ _ _ _ _ _ & now I'm shocked that _ _ _ _ _ _ misused/squandered/lost my money.

[@kubluu]

One thing confuses me: The Syrian refugees that caused the crisis were the same ones that Europeans were told would be a great windfall for the economy?

[@patrickbateman783]

😅🤣😂😅🤣😂😅🤣😂😎👍

[@BobfromSydney]

As mentioned in the video, the impact stemmed from the size of the refugee population compared to the tiny Lebanese population.

[@joeah3479]

@@BobfromSydney You may be right but don't fool yourself, MISERY IS CONTAGIOUS.

[@Jewzi123]

Steve Jobs was a Syrian , don’t forget that and he crated the largest US company in history it’s also the most luxurious U.S. brand .

[@joeah3479]

@@Jewzi123 I would like to invite you to come here to Lebanon to see what I am talking about. The refugee crisis catalyzed the actual economic crisis here (and by catalyzed I mean they are not the main cause but they are surely fueling it). I would like you to see how young they are when they marry, have children and then send them to work at a very young age (We see too many children filling blue collar jobs instead of going to school). Education is certainly not a priority to them even when given the means. They are indirectly robbing what is left of the foreign currency reserves in the Lebanese Central Bank through smuggling. If Steve Jobs had a syrian father, he wasn't raised by him. The educated syrians are a minority and usually flee westwards while the rural majority remains in the middle east. Please be ready to live in a country where 30% of its inhabitants are refugees to understand why MISERY IS CONTAGIOUS.

[@JJs_playground]

11:37 It wasn't the largest non-nuclear accident, it's the the 2nd or 3rd largest non-nuclear explosion. The largest is in Nova Scotia with a munitions accident between 2 ships.

[@zenastronomy]

the lesson to be learnt from this story. do not borrow money at interest. especially in a foreign currency. especially if you are a country.

[@designexplainedllc346]

Especially if your a 3rd world country!

[@mrjaratpon]

From the clip Title, I thought you were talking about The Fed!!!

[@alks091]

Exactly.

[@mxk6104]

And the week since this was published, the Bank of England turned on the printers... 🙊

[@manhoosnick]

Lebanon has been going through a lot for long time now, they don't deserve this :(

[@BlackJesus8463]

You think responsible people get governments? lol

[@Jewzi123]

They deserve this : You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

[@thisisnightshop2037]

I lived in Lebanon during the 1990s. Even then it was obvious that something was wrong

[@weylandyutani4254]

"That's why I use moomoo as my stock brokerage" Such a cute cow! I trust that cow. This is one of the weirdiest sponserships I've ever seen.

[@rohitghali]

The blast was the final nail in the coffin.

[@id104335409]

Nice scheme. Can't see what could go wrong.

[@mattheww9656]

Kind of like fractional banking.

[@sanshuma0]

fantastic episode !

[@casparcoaster1936]

well... I hope it was history's largest... but something tells me the USD as reserve currency might end up being a little bit bigger..

[@ishan6771]

is Turkey not doing something very similar?

[@4777hamza]

ye 💯

[@chaoabordo3399]

Wall Street Millenial to the Mooooooon ! Keep it up bro !

[@AnonymaxUK]

Just a general reminder that, in most countries, taking your own deposits from a bank in a robbery is still robbery.

[@jameswells9403]

If you hear risk free, its a scam. No loses probably means that they are using investor money to cover losses or shifting profits from one holding to another to cover the loss. A sign of a good financial manager is a certain amount of failure and loss.

[@graymars1097]

Ah! Geography! Soooo important!

[@danielh9184]

Hey, check your facts. 11:39 "Largest non-nuclear explosion in history" Not even close Halifax explosion 2.9kT. Three times as large.

[@lazarusvillagomez]

Thanks for this overseas economy crisis.

[@SunilKumar-pu7me]

From 2020 number of Economies falling is scary High

[@SrChalice]

Yet the people won't wake up to what is really happening. In 2021 we could've taken the world back but instead everyone got boosted. What are these idiots yup to now, 15th shot. The PLANDEMIC was a way to usher in rubbish. But most people see everything that they are always of as a "conspiracy theory".

[@AminurRahman-tj3sp]

Wall street millennial will have a field day with everything thats happening to the world rn, talk about UK currency dropping to its lowest

[@newpilot1400]

You were referring to the government in the entirety of the video and ignored the fact that the state of Lebanon is a hostage under the Iranian militia of Hezbollah. They control every aspect of life there and are causing this crisis because the state is totally displaced and eradicated - domestically and internationally.

[@selvoselvo1]

Near East Haiti, but what is then Syra, Lybia..

[@franco521]

You forgot to mention that 7 European countries have launched criminal probes into the governor of the Lebanese central bank and his brother

[@abuferasabdullah]

TALK ABOUT AUSTRALIAN CENTRAL BANK LOSS ?! Plz

[@MaGeQQQ]

stonks go kaboom

[@SidneyShaigan]

Should do the Sahara at some point too

[@santiagocedillo5025]

Argentina is going down the same path 💀

[@kamaldaud2782]

Pity the beautiful country and great food.

[@id10t98]

The country of Lebanon is not alone in this dilemma. Many nations have basically zero in the way of natural resources which they can harvest to help fund themselves, nor the willingness to charge the wealthiest people the tax rates necessary to fund the country's operations. These countries do all the financial manipulations they can to keep the show running but every theatrical performance must come to an end. The world needs leaders that understand Life isnt a choice and the more we make lives better for everyone, the better lives everyone can lead.

[@screenwriterjohn]

Can I steal my neighbors' turkeys?

[@vanesslifeygo]

Of course the people robbing the banks are heroes. All these "superheroes" like batman, spidey, etc. are just there to maintain a status quo. What better way for them to do that than to stop a bank robber.

[@vanesslifeygo]

Never trust anyone who *wants* to be in charge...

[@synewparadigm]

Why the banks are open if they have no money?

[@jewlstagara4562]

have you ever played monopoly ? check the bankers rules.

[@synewparadigm]

@@jewlstagara4562 No, I never played monopoly.

[@kikolatulipe]

@1;51 Lebanon used to be wealthy country ? When ?

[@LuisRojas-mz2mg]

banana republic country problems

[@chris0000924]

Happen to us soon

[@LuisRojas-mz2mg]

@@chris0000924 no chance but I bet you wish it would

[@chris0000924]

@@LuisRojas-mz2mg Ah because it's 1st world you think it's immune to economic fraud? LMAO

[@chiquita683]

They all are

[@JoseSanchez0795]

Well well...

[@andreamelo5781]

Could you make a video for Suriname because whe have some serious problems

[@janakakumara3836]

These "Ponzi" schemes seem highly profitable. Where can I learn to do one?

[@pantalome]

troll account probably from pk

[@BlackJesus8463]

It's not a farce if government accepts that exchange rate for taxes and fees and such!

[@jeronimo196]

Aren't they all?

[@Uncle-Smart-Alec]

An entire report without once involving and/or blaming Israel?I must be dreaming!

[@rameshhansaravendra]

Exploded accidentally 🤣

[@MagnusAnand]

Repeat after me: pegs don’t work

[@philliplamoureux9489]

More than on the verge, this is the look of a early stage failed state. There is no reversal in sight.

[@heroisdacrise2024]

Saw the thumb and came to an elsavador video

[@michaelsteven1090]

Best hash in the world!

[@stuartegrin7543]

Financial engineering 😂

[@alexleung842]

When? Basically in all cases

[@jordansme1234567]

Future of usa canada australia and all of europe

[@JordanScottMills]

all of them

[@TooLateForIeago]

This is the sort of economy where bitcoin makes economic sense. Not pretty.

[@sengwesetogile6054]

How many major retailers accept bitcoin?

[@TooLateForIeago]

@@sengwesetogile6054 None that aren't run by criminals or idiots. Back in 2021, I came across an analysis that concluded that under optimal mining efficiency, BTC would only be more desirable if the local fiat currency had a 24% inflation rate, but under actual efficiency (at the time of the aritcle's writing, the inflation rate would need to be above 200%.

[@ahmedelshafey7602]

Well, all banks are!

[@googlestalksme]

Wow just wow as if lebanese officials were not going to every country in existence to beg for money to "feed syrians" 🤣🤣

[@Richard-ox6zk]

So you are warning people for a ponzi scheme, and at the same time you are promoting an app for the biggest ponzi scheme in the world. Did you watch too many jake tran vids or something?

[@grantguy8933]

All of them are. Matter of time.

[@DanOneOne]

every failure is because of a greed.

[@johnl.7754]

Wonder how Carlos ghosn is doing in Lebanon

[@Kabodanki]

better than a japanase prison

[@xiaoka]

I’m sure he’s kept tons of money in forex around the world.

[@sengwesetogile6054]

He has a lot of money in usd

[@contenteater]

I take it Lebanon doesn’t have Deposit Insurance? 💸

[@kasbas5922]

No need to all these analysis, Lebanon problems are because of 2 things: 1- Internal corruption. 2- a country called Iran. And I would say Iran is the main problem that this country is facing hands down.

[@AApron]

Enjoyed this segment...very informative... could've been used in a slight segway into the more macro/global financial aspect to this: All FIAT currencies eventually, someday, will go to zero. Thanks for covering the Lebanon finance topic!

[@maiden5427]

They should ask a certain pornstar to bail them out.

[@joepappas4968]

Defi FUD

[@SamSam-ie6ns]

Hi

[@AA_OnTheEdge]

like China I suppose?

[@sengalkol]

When the rothscilds own your country central bank this happened

[@samsonsoturian6013]

Lebanon was NEVER a thriving country. Their economy has been on a downtrend since the end of French colonial rule, and before the French came they were all sustenance farmers so...

[@spazzypengin]

Everything went bad after the Maronites were stripped of most power. Islamists take over, everything goes downhill. Tale as old as Islam.

[@indethbed2546]

Wow

[@BillCarrIpswich]

Great, another 5 million immigrants to Europe.

[@Jewzi123]

France is responsible because of its sectarian policy of minorities against the majority to help it dominate its colonialism in the Mideast via imposing minority rule over the majority it was unsustainable leading to the civil war in Syria today and Lebanon civil in the 70s , You should read this book its free it explains why Lebanon is a failed state JOURNAL ARTICLE Maronite Hegemony to Maronite Militancy: The Creation and Disintegration of Lebanon Elaine C. Hagopian

[@rygantico8214]

Social security is the worlds largest ponzi

[@CharlesHorton-su3pr]

moomoo, sounds like ponzis you talk about. What are the free stocks, have you inspected this company? Do you own any of this company?

[@cosmicbutthairs]

"Pegged to another currency" seems to be a secret word for definite failure

[@xiaoka]

Hong Kong dollar has been pegged to usd for many decades.

[@4777hamza]

@@xiaoka & US dollar is a fiat currency 😅

[@TopG922]

This is why decentralized currency is the future 🪙

[@kalex7370]

this is so funny because you could literally swap lebanon with nigeria and the vide is still true

[@stuartegrin7543]

Wow

[@dedvzer]

10:48 Ammonium nitrate is predominantly used in fertilizers, not bombs.

[@samsonsoturian6013]

Not always in the middle east

[@BillCarrIpswich]

He focused on the explosives part to help explain why the accident was so bad.

[@wallstreetmillennial]

you are correct, but interestingly the ammonium nitrate that was left in Lebanon was originally destined for Mozambique where it would be used to make explosives for a mine

[@exMuteKid]

@@wallstreetmillennial I had no idea, So it was explosives grade??? I think that may have been a factor as to why it exploded so easily. Since agricultural ammonium nitrate usually contains impurities like calcium ions which make it much less likely to explode. Ammonium nitrate is at its most unstable state when it is pure and extruded into the correct shape, also, certain byproducts of a rusting cargo vessel stored exposed to acidic rain (which has a very small concentration of nitric/sulphuric acid) may have potentially played a role in the sensitization of the chemical, since metals such as aluminium in an acidic environment in conjunction with ammonium nitrate can make it even more prone to decompose, however, I am not educated enough in organic chemistry to be able to say for sure. BUT The boat was basically acting like a giant confinement vessel which most likely caused the explosion to be much more powerful than it would have otherwise been by allowing pressure to build up during the explosion. This suggests significant negligence on the part of the Lebanon government if they were aware that this was explosives grade material being stored in basically the most unsafe manner possible. So unfortunate that all those people died because of this.

[@fredfrederick2246]

Ammonium nitrate and fuel oil is the poor man's explosive..the ingredients are essential to a modern society so cannot be eliminated..only tightly controlled..

[@chris0000924]

Central banks down bad

[@salqubeq5203]

Great video and explanation. Good job!

[@T8rB]

LOL what was that turkey flood shit?? That was even more confusing than the original story 😂

[@samsonsoturian6013]

Lebanese banks are also basically loan sharks as what rules there are in Lebanon are never enforced and most banks are ma and pa ventures (literally). The banks don't trust each other and refuse to cash each other's checks because the only thing more common than hot checks is paranoia about hot checks. This forces people to rely on expensive wire transfers, and they are generally unable to withdraw money as the banks are systemically insolvent and even if there was bank insurance the government would not be able to pay since they are also insolvent. Banking in the turdworld...

[@redeemedsinner8091]

This guy is just selling crap.

[@dvidsilva]

Next time my gf criticizes my expensive lifestyle I can’t afford , I’ll point to the Lebanese central bank as my mentor