The Bitcoin Layer Collateral Wars: Bitcoin, Chips, & The Next Dollar System
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Sep 3, 2025 Kane McGukin, a keen analyst of Bitcoin and macroeconomics, joins the discussion to explore the future of collateral in global finance. They delve into how chips and energy are emerging as strategic assets, and the transformative potential of stablecoins in redefining bank reserves. The conversation shifts to Bitcoin as a pivotal digital collateral and its place in new credit markets. Furthermore, they discuss how current U.S. policies might be intentionally devaluing the dollar to foster tech advancement and revitalize supply chains.
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Money Is Layered Liquidity
- Michael Howell reframes money as liquidity and balance-sheet capacity rather than a single asset class.
- Kane McGukin says understanding capital flows and credit is essential to see money as layered liquidity.
Collateral Shortage Drives Systemic Risk
- Collateral underpins economic activity and current system suffers from too little collateral and too much leverage.
- Kane argues digital collateral — especially Bitcoin — can become the next durable base for lending and liquidity.
Chips As 21st-Century Collateral
- U.S. needs productive capacity, not low-value manufacturing, to restore collateral quality.
- Kane highlights chips and internet infrastructure as the 21st-century rails that will carry value.
