My grandmother left us today. 106 years of old. More than a century of history.
Over her lifetime the Lebanese pound was subject to a 126,000x devaluation. An average of about –11.7%/yr compounded in USD. The lira lost about 99.9992% of its dollar value over that span.
She understood all of this. She once showed my mother a 1LL bill from the1930’s and said: This was when the money was worth something in this country. They destroyed it all.
