Lebanon's 'Gap Law': When Banks Steal Your Money, the Government Offers You a Penny on the Dollar
Lebanon's government, as reported by Al Jazeera, proposes a 'gap law' to return up to $100,000 of depositors' own money, which banks, with government complicity, simply locked away. This isn't a solution; it's a state-backed haircut for citizens, designed to 'end' a crisis that began with reckless fractional reserve banking and systemic corruption, often facilitated by international financial
institutions and their local proxies. While Al Jazeera focuses on the mechanism, it conspicuously omits the historical patterns: decades of Western-backed 'stability' that masked predatory lending and debt traps. One might wonder if the real 'gap' is between public outrage and media willingness to expose the architects of this economic catastrophe, who often benefit from such 'restructuring.'
(Hint: It’s not just local cronies.)