What can you learn from the Greatest National Banking Ponzi Scheme of modern times?

Banks have seen many disasters over the years, but very few are as monumental as the Lebanese Banking Collapse. Often described as a National Ponzi Scheme, financial experts around the world are baffled by what is now perhaps one of the greatest financial collapses of the 21st Century.

30 years ago, it was recognised as the Switzerland of the Middle East for its vibrant, lucrative, and veiled Banking sector. Today, Lebanon’s inflation rate has surpassed that of Zimbabwe and Venezuela as the Lebanese Central Bank defaulted on $1.2 billion of Eurobonds issuance and destroyed the value of its currency.

But what lead to such crisis? Why did the Lebanese Banking sector offer the highest dollar interest rates in the world for so many years? How is this crisis the perfect example of a large scale National Ponzi Scheme involving more than $100 billion in depositors' money? How is this crisis comparable to the ones in Cyprus and Greece? And finally, what LESSONS can be drawn from the Lebanese banking collapse for the rest of the world?

Bayes Business Clubs & Societies | Website | View More Events