We Study Billionaires - The Investor’s Podcast Network BTC021: Bitcoin and Bonds w/ Greg Foss (Bitcoin Podcast)
Apr 14, 2021
Greg Foss, a seasoned fixed income investor with over 30 years of experience, shares fascinating insights on the bond market’s intersection with Bitcoin. He discusses pivotal lessons from his investing journey and the implications of the long-term debt cycle. Foss explores how Bitcoin could influence the fixed income market, including convertible bonds as catalysts for adoption. He also delves into the ramifications of rising global debt and positions Bitcoin as a potential hedge for institutional investors amid economic uncertainties.
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Brady Plan Restructuring
- Greg Foss's first job at Royal Bank of Canada revealed a surprising insolvency due to bad LDC loans.
- The Brady Plan, using zero-coupon treasuries, restructured debt, masking the bank's financial issues.
Debt Cycle Peril
- Risk transfer in financial systems ultimately burdens governments, as seen in the 2008-2009 crisis.
- Governments' failure to address accumulated debt creates a mathematically certain fiat debasement.
US vs. Canadian Investing
- Greg Foss observed differing investment approaches between US and Canadian markets.
- US investors focus on market opportunities regardless of cost base, while Canadians often anchor to initial investment costs.