Credit Risk & The Bitcoin Hedge with Greg Foss & Andy Edstrom - WBD402
Mr Obnoxious
Peter McCormack
4.8 • 2.7K Ratings
🗓️ 26 September 2021
⏱️ 77 minutes
🧾️ Download transcript
Summary
Location: Remotely
Date: Thursday 23rd September
Company: Validus Power Corp, Swan Bitcoin
Role: Bitcoin Strategist, Head of Institutional Investment
Over the last week, markets worldwide were hit hard as fears continue to grow over the liquidity of Chinese property behemoth Evergrande. The S&P, Dow Jones and Nasdaq all suffered their worst days in months.
Evergrande is China's second-largest and the world's most indebted real estate developer. It expanded rapidly by borrowing more than $300 billion. however, when new rules were introduced to control the amount owed by big large estate developers, Evergrande was forced to sell properties at a significant discount and is now struggling to pay its debts.
In 2008, the Great Financial Crisis began with an insolvent institution which precipitated a credit panic across the global banking system. When markets are saturated with debt, a single event can turn into a contagion.
Will Evergrande spark another financial meltdown, or will it prove to be too big to fail?
In this interview, I talk to the Head of Institutional Investment at Swan Bitcoin and Bitcoin Strategist Greg Foss. We discuss the Evergrande insolvency, whether a debt crisis is looming, and why Bitcoin is the perfect hedge.
Transcript
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| 0:00.0 | Over time Bitcoin will be the benchmark for proper capital allocation and everything else is going to pay the proper. |
| 0:14.6 | And Western Union, I'm sorry guys, but your business is going the way of the horse and buggy. |
| 0:21.6 | Hello from the United States, how are you all doing? |
| 0:24.0 | I'm just about to head off on the drive and heading down to Boston. |
| 0:27.0 | We're going to catch a flight over to Nashville. |
| 0:30.0 | I've got a WBD live session next Thursday. |
| 0:33.0 | Hopefully that's going to be with Preston Tish and Mardi Ben pretty cool. |
| 0:36.0 | It's going to be pretty intimate about 50 people, keeping it small but keep an eye on my Twitter. |
| 0:41.0 | I'll be announcing tickets later on today. |
| 0:44.0 | Anyway, how are you all doing? |
| 0:45.0 | Welcome to the What Bitcoin did podcast, |
| 0:47.0 | which is brought to you by Gemini, |
| 0:48.0 | the only place I'm using for buying Bitcoin. |
| 0:51.0 | I'm your host Peter McCormack, |
| 0:52.0 | and today I've got an interview with |
| 0:53.3 | Andy Edstrom and Greg Foss where we are going to be discussing evergrand and |
| 0:57.4 | credit risk but before that I do have a message from my show sponsors and |
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