When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany Paperback – October 12, 2010
“...In response, there was a protest near the parliament in Beirut, during which protesters briefly stormed a reinforced gate leading into the compound,...”
A few months back France 24 had a feature on the Lebanese inflation and how people were coping. Sound worse now.
Coming to the USA soon?
Meanwhile, those Lebanese who held a gold sovereign still had roughly one quarter ounce of gold. Their politicians can say their pound is worth such and such compared to any other currency but they can't tell their citizens that the one quarter ounce of gold they have now weighs only one-eighth ounce.
[Sidebar} How politicians work: Mexico allowed their citizens to have bank accounts denominated in dollars. Suddenly, one day they converted all those accounts to pesos, devalued the peso by 50%, then allowed said citizens to have dollar accounts again. Relayed to me by a national when I asked him why he didn't have a bank account, even in the States. I think he was prescient. Compulsory 401K accounts to Treasury Notes anyone?
Things have been falling apart in Lebanon since that Beirut explosion. There must be a way for Israel to stoke anger vs. Hizbollah and accelerate their destruction.