Bitcoin Breaking Into Traditional Finance
with Greg Foss
Brad Mills invites financial expert Greg Foss onto the show to talk about Bitcoin breaking into traditional finance. Greg discusses his 30 years of experience in the field of engineering and finance. Greg further explains to Brad the differences between a closed end fund and an ETF, and why a closed end fund in Canada is a big step for Bitcoin. The two debate about the current financial system; Brad on the side that it’s a ponzi scheme casino and Greg on the side of mathematics. Finally the duo speculate about the current state of the Canadian economy, and what Bitcoin might be able to do to help.
Timestamps
00:00:07 - Introduction
00:02:23 - Show start
00:04:44 - QBTC vs Bitcoin, what’s the difference?
00:07:04 - The importance of tax deferred accounts permitting Bitcoin
00:14:11 - Differences between an ETF and a closed end fund
00:22:10 - Archegos “black eye on the US hedge fund community”
00:25:17 - Currency Wars discussion and other book recommendations
00:28:00 - The Casino for whales debate
00:37:34 - A brief economic history lesson about Rogers Communications
00:44:44 - Credit rating arbitrage discussion
00:48:05 - Shareholder profits, taxpayer losses.
00:55:40 - Understanding capital structure and the regulated market
01:04:00 - Quebec pensioners and lessons about risk
01:08:40 - The higher perspective of the regulated economy
01:12:45 - Bitcoin as default protection
01:15:55 - Why do banks have equity?
01:19:43 - Toxic debts and brady bonds conversation
01:28:55 - How equalization affects Canadians
01:33:05 - What if Canada owned Bitcoin?
01:36:04 - The Alberta situation and Canadian economic speculation
01:40:14 - Discussion on the adoption of Bitcoin
01:47:25 - Validus Power Company discussion
01:52:10 - Bitcoin and it’s relation to traditional finance giants, MMT
02:00:50 - Closing remarks about gold
02:04:39 - Outro and social media plugs
Links to Mentions in the Show
Currency Wars by James Rickards
What is credit rating arbitrage?