Head of #Syria State Security Housam Luca made a visit to Tafas in Daraa province (Yes, Daraa again)
Goal was to help calm restless citizens who have had a list of complaints against the state
Short Thread ==>
2-As #Syria ‘s Head of State Security Housam Luca finished speaking, local citizens in the crowd seemed to reply back with agitation and anger towards the officials present
3-Local Tafas / Daraa residents then ask one of their own to speak to Head of State security official and list their grievances that ranged from missing and imprisoned men to widowed mothers not able to find bread for their children
4-Since the above meeting to help calm citizens had concluded, there now appears to be new reports of armed clashes that were started by local residents who continue to angry with the security team that was tasked with calming the province
5-Reports out of Daraa seem to indicate that Local residents believe that Head of #Syria Sate security Housam Luca has brought nothing substantive with him, and that he was therefore repeating the same mistakes from 2011
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Sharing a personal story to highlight the near collapse in the standards of living of most citizens in #Syria
-My cousin’s husband passed away this morning in Aleppo. He was diagnosed with cancer 3 months ago. He was an Agricultural Engineer who had worked for ICARDA
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2-#Syria ‘s currency has lost so much value that local currency income l, assets or savings are nearly worthless
One dose of Chemotherapy for his cancer treatment was quoted at $3,000. Doctor told them they need at least 4-5 doses
This was an inconceivable amount for them
3-While chemotherapy is priced in US$ , local income in SYP to pay for the above is in free fall
Income 1
Family owns small apartment that it rents out. Rent? $30 a month (SYP 95,000)
Income 2
Son works at a local back. Salary? $35 a month (SYP 110k)
Since the crisis began, R.Salameh has repeatedly told the nation that his Eco & currency policies were consistent with what has long been asked of him by the Government
Is this true? What does he mean by this?
Answer is Yes and No
Here is why ==>
Every Central Bank operates on the basis of a mandate / remit given to it by the Government
Different countries have given different mandates to their Central Banks
Such differences emanate from specific historical experiences each nation & society had experienced in the past
The U.S was scarred by depression & significant market swings in early 1900’s and when its Central Bank (Fed) was formed, congress gave it a dual mandate:
“Maximum Economic Growth and stable prices”
Note how there is no mention of currency stability in the mandate