Right off, the article mocked Govt ‘s characterization of those who killed the soldiers as armed thugs & it went on to highlight how locals disputed the Govt ‘s story
Back in Washington, surveillance of Opp. communication devices made it clear it was indeed hit on Army & security personnel
It was here that Arab & Western capitals could / should have taken a stand that taking up arms against a sitting Govt (yes, a HATED one) was unacceptable
Instead of calling for civil disobedience rather than taking up arms, not a single capital questioned the media ‘s narrative that relied on so-called “local residents” to refute the Govt ‘s account & instead claim superiors shot their own soldiers. Few questioned this story much
Not only Arab capitals did not question the account of “local residents” or pleaded with them and others not to take up arms civilians against the state they may hate, they actually kicked #Syria out of the Arab league few months later
Yes, all this was happening in 2011 still
Sadly, it was hating-the-regime that blinded all & led to policies of escalation from all sides
This is not about giving the regime a pass
Of course #Syria was never beacon of democracy. This was always a brute system paranoid about security & was never going to let go easily
Instead, throughout the early days of the war, all you heard from the opposition $
& from western experts that the regime will fall in 6 months max
They all repeated the above as fact and this only contributed to repeated policy errors that simply added more fuel to the fire
Even now and 12 yrs later, many of the so-called experts are still at it repeating the same lines in different form
Arab capitals seems to have moved on
Western capitals invested so much in sanctions & democracy busting charges that makes it hard politically to make U turn
You can hate a sitting Government all you want & you can 100 great reasons for doing that
But this doesn’t mean that arming civilians against this Govt makes it kosher so long as that system is not to your taste
Alas,
Syrians paid the price, and how
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US sanctions against #Syria were designed to punish Assad
Members of the opposition and their allies in Washington are extremely passionate about ensuring these sanction stay in place
Totally forgotten are the millions of innocent people who live in Govt-controlled areas
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2-US sanctions designed to hurt Assad are hurting millions of people wayyyyy more than they are hurting their intended target
3-While one understands the need to “do something” to hurt Assad and the “regime”, the truth is that the sanctions have created a massive income and wealth wedge between the connected war lords and the poor general populace living inside Govt-controlled areas
2-It is true that many financial intermediaries have both not been made aware of GL 23 and/or are reluctant to engage in doing any business in #Syria for fear of being subjected to OFAC restrictions and the Caesar Act
Significant new positive initiatives from Washington that demonstrate how the Administration is increasing aid to Syrians in need, no matter where they live, The Treasury has just issued GL 23 to to support earthquake relief efforts in #Syria ====>
2- ( GL) 23 is a blanket General License to authorize earthquake relief efforts, and it was issued to make very clear that U.S. sanctions in #Syria will not stand in the way of life-saving efforts for the Syrian people.
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3- While U.S. sanctions programs already contained exemptions for humanitarian efforts, this just announced General License helps to ensure that those who are providing assistance can focus on saving lives and rebuilding in #Syria
#Lebanon ‘s Central Bank booked what is now a cumulative $69 billion loss by creating a line item on balance sheet called
Other=Deferred=Magic Assets
@AndyKhalil1 was one of first to highlight this in detail
But how did @BDL_Lebanon pull this off & why did so many miss it?
When a business incurs losses, it marks down its equity
@BDL_Lebanon equity was always a tiny $3.5 billion (blue line)
This was too small of a buffer to mark down given the sizable losses that were being incurred
Instead, BDL created
Other=Deferred=Magic (red line)
Why are central banks even allowed to create just other / deferred / Magic assets ?
Because in the future and when central banks make money they bring this line item back down rather than pay the profits back to the state treasury as they are supposed to do