Bitcoin is Insurance on a Failing Financial System with Greg Foss (WiM169)
The "What is Money?" Show
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Default Risk
The usa is the world's most a secure debtor, followed closely by the european union. The default insurance market is saying that canada is much worse shape. We have to pay about 30 basis points a year, or three times as high a to insure canadian government debt as they are to insure usa. I would say s and p's credit rading on canada is wrong. And then you're running the risk of just the currency system. So do you think we will see a g seven or 20 explicit default? I pray it's not the case but the first one could be the first one.
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Transcript
