Economic Collapse tip: the local currency and you

January 12, 2022Uncategorized

As many of you know, Lebanon has been in economic collapse since October 2019, with the Lebanese pound (LBP) devaluation progressively becoming worse. The black market rate is around 1USD for 32,000LBP (Official rate is 1USD for 1500LBP).

We predicted this situation, going over scenarios and outcomes about the impending collapse over with my bros at Integrated Skills Group back in November 2019 in a 2 hours podcast. If you haven’t listened to it, check it out here.

The topic of this post is for those of you who didn’t prepare is to play catch up: banks are limiting local currency withdrawals, completely stopped US Dollars (USD) withdrawals, and the LBP hyperinflation is, like Garand Thumb’s YouTube channel comment section, completely out of control.

First, you need to understand that, if you are still paid in local currency, that your spending power is completely crushed. This means that saving LBP is stupid. You need to go out there and spend it. Since point of sales in most pharmacies and supermarkets and shops are still functional at the moment, you need to go and get rid of any LBP savings you have before they further transform into rough toilet paper. This means going on a shopping frenzy for ESSENTIAL medicine and foodstuff. To know more about what to buy, listen to the podcast. Once the basic necessities are taken care of, my advice is to buy as much alcoholic beverages and tobacco products as possible, even if you don’t drink or smoke: in stressful times, people will need to unwind, and a stiff drink with a cigarette helps. This means that those products will become extremely valuable and you can resell or exchange small quantities for cash or food or meds. 

Second, any local currency cash you have should be kept to a minimum: crime has drastically increased and your chances of being mugged are severe. Minimize the risk by having a throwaway wallet with minimal local currency in it, and exchange the rest in USD, even if the rate seems unreasonable (hint, it will get A LOT worse). Obviously, keep the cash at home, NEVER trust banks. 

Three, you need to diversify the preservation of your wealth: once your foreign currency backup reaches a certain amount (for example, enough to survive for 6 months to a year without income), you need to acquire some gold, either coins or grams. This, as well as real estate, will improve your economic survival for the future.

Four, if you haven’t already, get trained in unarmed, edge and point, and firearms. We seamlessly integrate all together and focus on discreet and deniable methodologies most applicable for civilians. Once you have received training, acquire the best tools you can afford to enhance your survivability, up close as well as at range. We offer consultations based on your needs and will teach you how to become safer.

For more information about the type of courses and seminars we offer, please check our seminars page.