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Dollar triumphs in socialist hellhole, rescuing high quality producers

Dollar triumphs in socialist hellhole, rescuing high quality producers
americanthinker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanthinker.com Daily Mail and Mail on Sunday newspapers.

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Currency board for Lebanon - Executive Magazine

Executive Magazine
Photo Credit: Greg Demarque
The Lebanese are currently subjected to depreciation, with
the ever-rising prices of goods and services, self-imposed limits on
withdrawals by banks at a rate of LBP 3,900 to the dollar, and a local currency
estimated at LBP 9,600
to the dollar as at March 1st 2021. Rampant inflation was
estimated at 84.8 percent for the full year 2020 according to the Central
Statistics Department, with end-of-year inflation from December 2019 to
December 2020 estimated at 14.8 percent. Additionally, any release of controls
for withdrawals in LBP would result in added inflation due to an expansion of
the monetary mass and a rush to buy USD currency at black market rates. The ....

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Should Foreign Countries Dollarize?

Should Foreign Countries Dollarize?
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I’m not a fan of the European Union, which has morphed from something good (a free-trade pact) to something bad (a pro-centralization,wannabe United States of Europe that exacerbates the continent’s tax-and-spend mentality).
Indeed, that’s why I’m a huge fan of Brexit. The United Kingdom is wise to escape the sinking ship.
But notwithstanding all my critiques of the E.U., I’ve never blamed or condemned the euro currency.
Why? Because many of the nations that joined that common currency did a lousy job when they had national currencies. Italy and Greece, for instance, routinely used their central banks as printing presses to help finance bloated budgets. ....

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