I believe the minority of people are aware of the situation in Lebanon and the bank freeze. To summarize, citizens can’t take their money out of the banks.
Banks in Lebanon have frozen Lebanese dollars (and euros) since October 2019. You can only get your old money back with a 90% haircut. These dollars are even referred to as “lollars.”
And now, people are resorting to bank heists to retrieve their own money.
Just this week, this woman took maters into her own hands by holding the bank at gun-point to get her money to pay for her sisters cancer treatment… To add insult to injury, she only robbed $13,000 while the cancer treatment in Lebanon costs $50,000.
A deeper analysis of the latest case of ‘bank robbery’:
Those events started increasing in 2022. For example, in January, Abdallah Al Saii, a Lebanese who robbed his bank to retrieve $50,000, gave it to his wife, and then vanished with the money.
Last month, another Lebanese took several bank employees hostage in order to retrieve a portion of his frozen dollars in order to pay for his father’s surgery.
This is the reality of an economic collapse. I hope no one else has to go through that.