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Rabbit Hole Recap #238: The Government Rugpulls Have Escalated

Rabbit Hole Recap

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Bitcoin

Lebanese central bank moved to bring regulated market exchange rate in line with what most Lebanese are trading their pounds into dollars for. That is a significant debasement from 15,000, seven pounds per dollar. It's essentially worthless. How will this affect average Lebanese citizens? Probably not that much as they've dollarized rather quickly over the last three years. However, this will affect the banking systems. And I think this move is in cooperation with the IMF and sort of the strings that they attach to the most recent loan that they gave the Lebanese government.

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