Can Bitcoin Save You From Fiat Collapse? | Ep. 65 — #65 Michel

In this episode of Sat Chats, we head to Beirut to hear Michel’s jaw-dropping story of surviving Lebanon’s total financial collapse—and how Bitcoin gave him hope, clarity, and conviction. Michel grew up in a country where hyperinflation wiped out savings, banks locked people out of their own accounts, and the government ran a U.S. dollar Ponzi scheme. After moving to Canada and working in commercial credit, he saw how even the most “stable” systems are rigged. Now back in Lebanon, he’s helping others understand what money really is—and why Bitcoin matters. We cover: ✅ How Lebanon’s central bank ran a literal Ponzi with U.S. dollars ✅ Why he says “your money in the bank is not yours, not money, and not in the bank” ✅ The harsh realities of credit inequality and Cantillon effects ✅ What pushed him from crypto confusion to Bitcoin clarity ✅ Why owning Bitcoin is the least risky thing you can do ✅ How pain—both personal and national—sparked his conviction ✅ The Hayek quote that changed everything: “a sly roundabout way” Chapters 00:00 Welcome/1K Sats Contest 02:32 Michel’s Personal Journey into Bitcoin 05:52 The Hypocrisy of the Financial System 08:32 Lebanon's Economic Crisis and Bitcoin's Appeal 11:23 The Role of Credit and Debt in Society 14:24 The Ponzi Scheme of Lebanese Banking 17:36 Conclusion and Future Outlook 22:43 The Pain-Driven Action Paradigm 23:34 Lebanon's Economic Collapse and Bitcoin Adoption 26:51 Contrasting Realities in Lebanon 27:04 The Insanity of the Banking System 27:57 Finding Alternative Solutions: Bitcoin as a Sly Roundabout 31:02 Discovering Bitcoin: A Personal Journey 35:10 The Importance of Self-Custody in Bitcoin 38:32 Hope and Security Through Bitcoin 41:32 The Community of Bitcoiners 44:05 Recap and Reflections on the Journey In the end, did Michel choose $50 in cash or stacks $50 in sats? Want to win one million sats? Subscribe to our YouTube channel. Once we reach 999+1 YouTube subscribers, we’ll select at random one of our subscribed Satillionaires and drop a million sats on his head. We’ll also unlock a live show Friday mornings at 10a EST. Full giveaway details here: https://satchats.com/contest-rules Support Sat Chats directly by: — Zapping Lightning to [email protected] — Grabbing your slot in the studio today at https://satchats.com/ — Sending Bitcoin to bc1q5yrwe6qxujzumg5j28g0rvckx9n859sa08fupc Links for today’s Show Notes: — "The Bitcoin Standard" by Saifedean Ammous – https://saifedean.com/the-bitcoin-standard — Jeff Booth (Author of The Price of Tomorrow) – https://jeffbooth.ca/ — Lyn Alden – https://www.lynalden.com/ — Robert Breedlove – https://www.whatismoneypodcast.com/ — Luke Gromen – https://www.forestmangroup.com/ — Friedrich Hayek’s “sly roundabout way” quote – Often referenced from his 1984 interview with James U. Blanchard III. Direct clip: https://www.youtube.com/watch?v=zzw8fzvyb7w