This country is switching to US Dollar

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Lebanon's Currency Crisis Explained

Why Argentina has 50% annual inflation

[Hannahbenowitz]

A weak dollar can indicate an economic downturn, prompting me to consider the best ways to hedge against inflation. I've heard people say that inflation erodes the value of money, which makes me concerned about my savings of around $200K

[Beatricegove]

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.

[randomlifts]

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

[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.

[molak]

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.

[samuelbarringer]

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.

[piratenu]

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.

[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

[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.

[wessexexplorer]

This issue is that it’s not the country giving up on its currency, it’s that the government can’t stop printing cash to pay its workers. Stop printing money, and inflation will stop.

[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

[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.

[ahmedlunat]

Exactly the same thing happened in Zimbabwe.

[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.

[laportafrank]

The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean of news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?

[MichelePonte]

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

[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 .

[AliASHTV]

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

[geraldalfieri]

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

[lucsabbagh]

great video uptin !! always a pleasure watching your content