Trump's Gamble Just Broke London's Grip — Now Only 3 Assets Win | Cory Klippsten

Oct 5, 2026

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Everyone in Bitcoin seems sure America is headed for a debt spiral. Cory Klippsten, CEO of Swan Bitcoin, thinks they've got it backwards. Cory argues that no matter what happens to the dollar, America wins, and that's exactly why Washington is making room for Bitcoin as a potential fallback.

Rob Wallace sits down with Cory to break down the bond market "apocalypse," with the 10-year hitting its highest level since 2002, and why he sees treasuries, gold, and Bitcoin locked in a three-way race for the rest of the century, with Bitcoin as the fastest horse. Cory also spent the summer traveling through Istanbul, where the lira was collapsing so fast his mother-in-law made the family write down the exchange rate every time they spent money, and he shares what that kind of currency collapse actually looks like on the ground.

The conversation closes with Cory's sharpest takes: why he believes most Bitcoin media functions like a car magazine that can't bite the hand that advertises, and why he thinks Bitcoin ETFs actually kneecapped the last bull run by making it too easy to gain price exposure without understanding what you own.

Here is what we cover:

• Breaking down the bond market selloff and the 10-year Treasury hitting 5.34%

• Why Cory believes America wins whether or not the dollar stays dominant

• The three-way race between treasuries, gold, and Bitcoin for the rest of the century

• Why the midterms and political gridlock don't actually move Bitcoin's price

• Why the CLARITY Act's failure barely mattered to Bitcoin, aside from losing BRCA

• Why Coinbase and A16Z will get dragged into hearings but likely walk away unscathed

• Cory's take on prediction markets: genuine utility versus a gambling black hole

• Why the "great shitcoin war" is over, and how crypto fully merged with TradFi

• What life in Istanbul looks like under near-hyperinflation and currency collapse

• France's sovereign debt troubles and fears of the next European financial crisis

• The America.gov AI rollout and Cory's concerns about a surveillance "panopticon"

• Why China is stockpiling gold while cracking down on Bitcoin, and what that reveals

• The US-China economic interdependence behind the Trump-Xi summits

• How stablecoins and "dollar merchants" are being used to prop up dollar demand

• Why Bitcoin's price is ultimately decoupled from every macro narrative

• Behind the scenes of Cory's daily show, Outside Money, and its explosive growth

• Why Cory thinks most Bitcoin media operates like a car magazine, afraid to upset advertisers

• How Bitcoin ETFs may have kneecapped the last bull run by skipping real education

• A vibe check on where sentiment stands heading into 2027

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0:00 Intro: America Wins Either Way

1:34 The 10-Year at 5.34%: Bond Apocalypse?

3:36 Why America Wins With or Without the Dollar

5:24 Bitcoin for America and the Three-Horse Race

7:56 Midterms, Gridlock, and the Clarity Act

10:44 Coinbase, Robinhood, and Prediction Markets

15:49 The Altcoin War Is Over

18:07 Global Economy and Istanbul's Collapsing Lira

23:38 France, Russia, and NATO

28:14 America.gov, AI, and the Panopticon

31:22 US Dominance and China's Gold Stockpile

36:35 US-China Decoupling and Stablecoins

42:14 Kicking the Can: Why Bitcoin Ignores Macro

43:45 Outside Money: Cory's Daily Video Show

50:00 Bitcoin Media Is a Car Magazine

52:11 How ETFs Kneecapped the Bull Run

56:31 Vibe Check and Where to Find Cory

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