The Immediate Fiat Collapse Narrative

Argentina has been averaging something like 30% annual inflation for basically the last century, right? So, and then that's like a medium case, right? I think I've described Argentina as a low state capacity, high people capacity country. It's in an interesting position because lots of institutions are broken, but they're not fully broken. That still creates an opportunity for people to thrive to some extent there. And then aside from Argentina, like Turkey, the exchange rate has been like going down pretty hard over the last decade. In Russia, it's a combination of monofyra of hyperinflation and fear of having everything you have grabbed up by the government. Even more

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