Currency Plummeting

[Anonymous No.18668420]

im from Lebanon, and my currency has lost more than half its value and its still falling.

for example a new iphone would cost me 1,500,000 Lira 5 months ago, will cost me now 8,000,000 Lira.

i have savings in Euro and Dollar, how can i benefit from this situation?

[Anonymous No.18668455]

>>18668420
Farm runescape gold and sell for swiss francs

[Anonymous No.18668478]

>>18668420
Go all in USD. Euros aren't as bad as the Lira, but USD is going to outperform everything in terms of fiat currency.

If you want, you can get some BTC as well.

[Anonymous No.18668479]

>>18668420
Fuck are you talking about

[Anonymous No.18668501]

>>18668478
>USD is going to outperform everything in terms of fiat currency.
Explain why

[Anonymous No.18668533]

>>18668479
That is the official rate, the rate in Lebanon is currently 4000 LBP to 1 USD, it was 1500 just 2 months ago. Not to mention the country is depleted it supplies of USD, and is basically fucked rn

[Anonymous No.18668538]

>>18668479
google currency still says 1$=1,500LL which is insanely false, 1$=4,000LL rn

[Anonymous No.18668655]

>>18668479
It seems they are officially pegged to the USD, but the actual market price doesn't follow the peg anymore.

pic related

I recall Google also showed the "official exchange rates" for another hyperinflated currency (iirc it was the Venezuelan Bolivar, but I'm not sure), but the "black market" rate, as they called it, was way different by a magnitude of several digits. Right now Google doesn't even bother to show a chart anymore for the Venezuelan Bolivar to USD.

>>18668420 what's the unofficial going exchange rate right now?

[Anonymous No.18668673]

>>18668655
almost 4,000 Lbp = 1$

[Anonymous No.18668838]

>>18668501
When economic downturns happen and stocks enter a bear market, cash is king, and the dollar becomes more valuable. It's worth less in a bull market than it is in a bear market. People want to sit on their cash while they wait for the market to bottom out. It's also the world reserve currency and even though it's shitty fiat, everyone else's fiat is even shittier. It's like the USD is toilet paper, but everyone else's fiat is used toilet paper with shit all over it.

[Anonymous No.18668932]

>>18668838
>>18668501
Not only that but business contracts around the world are done in USD... no matter where you are. Government contracts - private contracts - they're a mix of local currency + USD or exclusively USD.
When those debts come calling we have to convert and that naturally moons the USD. Speculators and regular folks looking for safe havens also go into USD so it's a self fulfilling prophecy. Exact same thing happened through 2007 to 2009.