Wednesday, March 02, 2011

Crowded mind & those famous assets (updated)

Now that the mechanism of sanction has actually began, I've lost the last shred of optimism for a  prompt resolution...

"The UK has also stopped the export of about £900m worth of new Libyan dinars ordered by state authorities"

If you thought that the past two weeks were painful, the future does not look less tragic, because with this mass freezing of  Libyan assets, I'm afraid that the Central Bank will not be able to cover any withdrawing of funds from Libyan citizens, which would result in an economic crisis in the power of purchase. Salaries may not be accessible if there is no liquidity and that would create mass fear.

As I said before, sanctions are inefficient and no one wants foreign intervention.

What is worrying is that Fitch have downgraded us as well. What does that mean? I really don't know, I now wish I'd studied economy or business management or banking, just to understand all this information.
My mind is crowded  with frantic thoughts. If someone knows please explain to me the possible economic scenarios that could await us. I understand we have no external debt so why is Fitch downgrading even if our oil production has been halved. Does this mean that we are expected to become another indebted state or any of the countries that receive aid from the IMF?  That is more frightening and painful than potential death. 

Why? you ask because we cannot run away from death but everything else is possible.

If there is anyone listening please unfreeze those assets!

Tuesday, March 01, 2011

A morning drive into town

This morning (Monday) I woke up refreshed from a good night sleep (amazing how the body adapts to outside irritants). Having been scooped up for some time now at home I decided it was time to venture in town and forage for medical supplies for the elderly, stuff for the children and of course cat food. We must not forget our four legged friends who are also suffering in this crisis.

Each member of the family has a specific task, I did not really have to go, but I needed to get out of the house and it seemed like a nice, warmish, sunny and quiet day, I might not have the opportunity again...

It felt strange to dress for the street and not for work, I'd forgotten about jeans and sport shoes. My car was brown coloured from the recent sandstorm. I left our garage cautiously, the street looked normal enough, the only anomaly was me probably.

I drove slowly downtown taking in the sights, lots of activity, lots of cars, women walking, people talking on their cellphones. Some shops open though not all mostly groceries and bakeries. Still eerie though.

It felt like being in another dimension, in a parallel world almost, that is the best I could describe it. Banks were definitely open, in a way that was reassuring, many people were looking busy with a purpose, only I seemed idle, after all I only had some shopping to do. I had to think of practical things from the pharmacy not just medicine, things like shampoo, toothpaste, sanitary items etc.. I even managed to find cat food, and in way felt a sense of achievement.

It is sad that my happiness is now reduced to succeeding in obtaining items. Something that I imagined belonged to the communist era...

Despite all this frenzy of activity in the city, there is a deafening silence. The type of silence that precedes a hurricane. The moment just before the animals in the jungle start running.

There is no running away from destiny. Seen from this vantage point it does not look bright.

I'm a bit depressed today, maybe tomorrow I'll have another story to tell?