Electricity Is a Big Deal in the Economy

After three years of hyperinflation, is there light at the end of the tunnel for Lebanon? The currency has lost more than 97% of its value, the largest bill is worth $1.5, the real economy is de facto dollarized, and only those dependent on government are having to suffer from hyperinflation. Fiat is dead and there are are no IMF bail-outs or natural resource revenues to get the ponzi going again. Is the death of fiat suffocating the parasite class and freeing the rest of society from having to finance them?

Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming book, Principles of Economics, by becoming a Saifedean.com member. Find out more here.