Discover and read the best of Twitter Threads about #lebanonprotests

Most recents (24)

A meeting in the Presidential Palace includes a representation of the banking sector.
Where are the representatives of depositors? Where? Where?
#LebanonProtests
@Jad_Ghosn @dan_azzi
@Jad_Ghosn @dan_azzi This is the classical question: "Where are the Customer's Yachts?"
By depositors I mean small depositors who put their life savings in the hands of #RiadPonzi
Read 3 tweets
When I first started analyzing #Lebanon ‘s finances, I started with the commercial banks. I quickly realized that one can’t do this without simultaneously studying books of @BDL_Lebanon & State

Indeed, only way to understand issue is to think of all three as one entity

More >
The critical building block of the current version of #Lebanon Inc. has been the extremely successful Non-Resident Diaspora

This group’s success, wealth & love of their country will play a crucial role in funding a system that was born nearly 26 years ago
Debt financed reconstruction needs someone to fund it long term

Importing way more than exporting needs constant foreign currency

Spending more than collecting in taxes needs benefactor

#Lebanon ‘s Non-Resident Diaspora were ready to do all three but at a price of course
Read 16 tweets
President Michel Aoun
You said that those who don't like the government should emigrate.
I am doing the exact reverse. I left 43 years ago. I am now in transit to Beirut, just to make sure YOU emigrate.
#LebanonProtests cc:@Gebran_Bassil
#لبنان_ينتفض
@Gebran_Bassil Indeed I listened to his interview. That's what he said. And, what is worse, what he meant.
@Gebran_Bassil Aoun seems to see the protests as some transitory annoyance --he appears to be irritated by the messenger.
Read 6 tweets
Salameh's Ponzi killed the Lebanese economy: small businesses, anything that could provide exports or mitigate imports has been crowded out.

#RiadPonzi
#لبنان_ينتفض
#LebanonProtests
We don't have to avoid imports, but the local industry became ...just banks.

I want #RiadPonzi to pay for it.

#لبنان_ينتفض
#LebanonProtests
Read 3 tweets
When analyzing #Lebanon ‘s Financial Crisis, important to separate issue in two parts:

1- Conduct of the Sovereign (Government & Central Bank). Topics here are Reserves, trade imbalance, budget deficits and the national debt

2-Commercial banks & how they managed risks ==>More
Remember that #Lebanon 's Govt only issues debt because it needs the money that it doesn't have. Debt is needed to plug the hole between spending and tax collection. It would be one thing to borrow in local currency. Things get more complicated when you borrow in Dollars
Why are Dollars in demand #Lebanon ?

1- You need Dollars to import
2- You need Dollars to be able to use them & buy your local currency if you want this currency to stay strong and pegged at an artificial rate you picked nearly 22y ago
3- You need Dollars to service your debt
Read 16 tweets
I will give a talk in Beirut Friday 6 PM
+Municipalism/Localism as the SOLE solution
+Comments on the Ponzification & how it choked local industry
+Fragility/Antifragility & bouncing back

(In Lebanese/Neo-Canaanite)

"Berytus Nutrix Legum"
#LebaneseProtests
#لبنان__ينتفض
To those who say "Lebanon has serious problems" my answer is "Lebanon HAD serious problems" --these did not show before.

Once Riad Ponzi is out, & the state gets out of the way & stops killing businesses, the economy will be much more solid.

#LebaneseProtests
#لبنان__ينتفض
Good news that Western newspapers are not reporting on #LebanonProtests. Why?
Journos only get geopolitics & this is (still) a localist anti-geopolitical revolt.
Trick by BS vendors (eg @tomfriedman) who understand nothing is make things geopolitical.
(See #TheBlackSwan)
Read 7 tweets
#Khamenei confesses to the strategic deadlock of his regime
Remarkably, missing from Khamenei’s remarks were the ongoing uprisings in #Iraq, where hundreds of thousands of #protesters have been calling for the ouster of the Iranian regime #IRGCOutOfIraq

english.mojahedin.org/id/f0bc1c4f-1d…
On Sunday, Iraqi protested stormed the Iranian regime’s consulate in Karbala, a Shiite-majority city that has been under the negative influence and meddling of the regime in the past years.#IraqProtests #IRGCOutOfIraq
#العراق_ينتفض
#ایران_بره_بره
Iran Suffering Setbacks in Iraq and Lebanon
By Pooya Stone

The iconic Tahrir Square in Baghdad has transformed into the capital of this uprising aiming to overthrow the government.
#IraqProtests #IRGCOutOfIraq #LebanonProtests
iranfocus.com/en/iran-a-neig… via @iranfocus
Read 3 tweets
Explaining #LebanonProtests through persistent Eco mismanagement Including

1-Debt growth starting in 1993 to help w post-war reconstruction

2-Misguided fixed exchange rate policy for 22y at massive cost to the Eco

3-Banking system acting as Ponzi Scheme w embedded corruption
2-#Lebanon did not get into this predicament overnight. It has been 22y in the making. Many knew all along that something was wrong. How could the currency stay fixed for 22 years? How can banks pay such high interest rates? Many asked questions but music kept playing...till now
3-1989 Taef Accord marked end of the civil war. Soon thereafter, Reconstruction of post-war #Lebaon program started under Rafic Hariri. Debt was to going to finance this effort. Starting in 1993 & in mere 7 years, debt grew from $4 billion to $25 billion
Read 26 tweets
Lebanon's president wants to transform the country from a system where power is divided among sects to a civil state, following nationwide #LebanonProtests against corruption and economic mismanagement aje.io/75sb6
Long queues as Lebanon's banks reopen after two weeks of closure amid mass anti-gov't protests aje.io/m9jy2
Hezbollah leader Hassan Nasrallah says Lebanon's new gov't must restore trust with Lebanese people aje.io/x7z9d
Read 3 tweets
Thread: Since the #Lebanese #Constitution is being discussed so much, it seems like a golden time to revisit it. Some major points.
#lebanonprotest
#لبنان_ينتفض
The constitution was adopted in 1926 under the French colonial control (mandate). It was critical to creating bureaucratic legal, & ideological foundations of the Republic of Lebanon in its current borders (grande liban), separate to and independent from what became Syria.
Lebanon did not become independent from french colonialism until 1943. The 1926 Constitution set up a parliamentary system of governance with strong executive powers concentrated in the office of the President. The constitution is a classically liberal document, in that it
Read 20 tweets
Quick thread with initial thoughts on why #Lebanon’s PM @saadhariri just chose to resign, in defiance of orders from Hizbullah’s Nasrallah: (1)
@saadhariri First, just look at #Tripoli, #Sidon & #Beirut, Hariri’s traditional pillars of support (Sidon is his hometown), which have been major sites of #LebanonProtests. Every day this cabinet remained he was hemorrhaging what little popularity he still preserved (2)
@saadhariri Second, today’s disgraceful violence by Hizb & Amal thugs in Beirut was a great embarrassment to him. It’s one thing to be in coalition with your political foes when there’s a measure of stability in the country; quite another to be covering for them as they assault citizens (3)
Read 6 tweets
#BREAKING
Oct 27
Iraqi students on strike closed the classes and took to streets and attending nationwide Iraqi people uprising
chanting:
"Iran Out Out" "Baghdad will be free"
#Iran #IraqProtests #العراق_ينتفض
#IraqXXV #IRGCOutOfIraq #ایران_بره_بره

#BREAKING
#Iraq
#Now
Pls share this tweet
All media & TV (Alhadas & Alarabieh) R banned to report
Al-Jumariyah Bridge #Baghdad
Security forces targeting demonstrators who trying 2cross the bridge

#IraqProtests #العراق_ينتفض #IRGCOutOfIraq #ایران_بره_بره
#Iraq
In solidarity with Iraqi ppl uprising the Students went on strike in one of the important universities in #Baghdad (Al-Mustansiriya University)
#IraqProtests #العراق_ينتفض
Read 19 tweets
The banking sector, which is the core of the Lebanese economy, is in crisis, and so is the country. asiatimes.com/2019/10/articl… #LebanonProtests
The most truthful thing said about #LebanonProtests. They are not monolithic in their aims, they are a mosaic, like Lebanon itself.
Salame is not doing his job as he should, he is using the protests to shield himself from scrutiny & pressure the gov into resigning in order to implement IMF austerity measures. He might even have sparked the protests by limiting withdrawals & spreading panic. #Lebanonprotests
Read 60 tweets
“Hezbollah media relations: We have nothing to do with the motorcycle protest that descended on downtown Beirut this evening.” #LebanonProtests #لبنان__ينتفض
#LebanonRevolts #LebanonProtests #لبنان__ينتفض
Small protests like this one in Hamra are springing up around Beirut, so it’s not just secluded to downtown. I hear there are also protesters gathered at the Central Bank, even more than yesterday. #LebanonProtests #لبنان__ينتفض
Read 66 tweets
Wow. This is what a real Revolution looks like.

Incredible footage from #Beirut, #Lebanon today.

More than a million people are in the streets demanding an end to decades of government corruption. #LebanonProtests
After the “Arab Spring”, I understand the skepticism about #Lebanon... But thus far, there is 0 indication these protests are anything but a genuine, spontaneous uprising against US-Saudi-French-backed elites and the corrupt-to-the-core system they’ve presided over for 30 years.
Why #Lebanon is revolting: Because our country has no proper working electricity, plumbing or health care; joblessness is rampant and living costs are high.

And all the while, the oligarchy that controls this awful system lives in lavishness.

Now Lebanese are saying “enough!”
Read 4 tweets
On Lebanon's civil society: I have noticed that a number of observers are trying to understand the #LebanonProtests. The protests are not magic.They’re product of years of work:The work of Lebanon's civil society that needs to be acknowledged. #لبنان_يثور #لبنان__ينتفض #Beirut
1)Many remember the protests in 2015 that were covered by international media- now since that year, activists managed to achieve successes in some areas for first time, challenging the existing political system they're fighting. I will focus on elections in 2017/18:
2) In 2017, civil society won in the Beirut Order of Engineers polls. Jad Tabet, backed by Beirut Madinati coalition was able to beat a candidate supported by traditional parties. That was a major victory for civil society. Read here: dailystar.com.lb/News/Lebanon-N…
Read 8 tweets
Oct 19/20 - Beirut, #Lebanon
Midnight hours

Scenes of a peaceful demonstration as protests continue across the country against poverty, unemployment, government corruption & #Iran's meddling through Hezbollah.
#UPDATE
Samir Geagea, head of the Lebanon Forces Party, announced the ministers are resigning & called for a new Lebanese government.
#LebanonProtests
#BREAKING
Oct 20 - Tens of thousands of demonstrators in Beirut & other cities of #Lebanon demand political change.
#LebanonProtests
Read 6 tweets
The Lebanese people are no joke. I'm a proud Lebanese-American.

#LebanonProtests
We survived one of the most brutal civil wars of the 20th century and came out strong as ever.

The #Lebanese people are resilient and brave, rooted in thousands of years of history.

#Beirut and #Byblos, where I grew up, are among the oldest cities on earth.
Read 6 tweets
Do you remember this picture from Beirut last night? Many people tried spread rumors that it was fake. Well its one of the most real things that happened. In this thread I share 12 short videos documenting the testimony of one of the men. #Lebanon #LebanonProtests
"I was arrested, they tied my hands to my back. They tied my hands really tight, do you know how they made sure to tie them tight? The guy would put his foot on my back and would push forward-like that" - He was among the men who were arrested lastnight @hrw @amnesty #Lebanon
"You can still see the marks on my wrists, it was so tight, it was so tight .. our faces to the ground, and then they took us to a car that looked like a box, so that they transfer us, the car really looked like a box" #Lebanon @hrw @amnesty
Read 14 tweets
#BREAKING
Oct 19 - Jbeil (Byblos), #Lebanon
Third night of demonstrations against poverty, unemployment, government corruption & #Iran's meddling.
#LebanonProtests
Oct 19 - Sayda, #Lebanon
The entire country is rising against poverty, unemployment, government corruption & #Iran's meddling through Hezbollah.
#LebanonProtests
Oct 19 - Downtown Beirut, #Lebanon
#LebanonProtests
Read 4 tweets
#Lebanon
Protesters attack the office of Mohammad Ra'ad, a representative of #Iran-backed Hezbollah.
#LebanonProtests
#BREAKING
Oct 19 - Beirut, #Lebanon
Minutes prior to a speech by Hassan Nasrollah, head of the #Iran-backed Hezbollah, a crowd of Lebanese people are chanting against him.

People across the region are rising against Tehran's malign influence in their countries.
#LebanonProtests
#Lebanon
While demonstrators on the streets are protesting poor living conditions, government corruption & #Iran's interference in their country, Hezbollah cells are vandalizing public/private property to depict a negative image of these demonstrations.
Read 13 tweets
A thread about background causes of #LebanonProtests #لبنان_ينتفض

Hear me out about Lebanon; although all the demands of the protesters are legitimate, the cascade of events that triggered them is all planned meticulously. 1/
Since 2017, the Empire and its local enforcers, Apartheid Israel and Saudi Occupied Arabia, wanted the government of PM Hariri to collapse, therefore bringing down the pro-resistance Presidency of Michel Aoun. 2/
The reason was the same as that of the 2006 war and the current war on Syria: to end resistance to Imperialism in geographic Syria; in this case by forcing a civil war in Lebanon. 3/
Read 18 tweets
#BREAKING
Oct 18 - Beirut, #Lebanon
Peaceful demonstration protesting poor economic conditions & government corruption near the Prime Minister's palace.
People are chanting for a revolution. Other cities are also witnessing such demonstrations.
#BREAKING
Oct 18 - Beirut, #Lebanon
Tension rising in the streets of the Lebanese capital as security forces resort to force against demonstrators.
60 reported injured.
#Lebanon
Scenes of protesters chanting, "People demand government overthrow!" being escorted by security forces.

My take:
Reports on Friday of security forces attacking demonstrators indicate #Iran's role, similar to Iraq where snipers targeted civilians.
Read 8 tweets

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