Episode Details

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 satchats@getalby.com

— 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