Bitcoin Breaking Into Traditional Finance

Brad Mills invites financial expert Greg Foss onto the show to talk about Bitcoin breaking into traditional finance. Greg discusses his 30 years of experience in the field of engineering and finance. Greg further explains to Brad the differences between a closed end fund and an ETF, and why a closed end fund in Canada is a big step for Bitcoin. The two debate about the current financial system; Brad on the side that it’s a ponzi scheme casino and Greg on the side of mathematics. Finally the duo speculate about the current state of the Canadian economy, and what Bitcoin might be able to do to help.

Timestamps

00:00:07 - Introduction

00:02:23 - Show start

00:04:44 - QBTC vs Bitcoin, what’s the difference?

00:07:04 - The importance of tax deferred accounts permitting Bitcoin

00:14:11 - Differences between an ETF and a closed end fund

00:22:10 - Archegos “black eye on the US hedge fund community”

00:25:17 - Currency Wars discussion and other book recommendations

00:28:00 - The Casino for whales debate

00:37:34 - A brief economic history lesson about Rogers Communications

00:44:44 - Credit rating arbitrage discussion

00:48:05 - Shareholder profits, taxpayer losses.

00:55:40 - Understanding capital structure and the regulated market

01:04:00 - Quebec pensioners and lessons about risk

01:08:40 - The higher perspective of the regulated economy

01:12:45 - Bitcoin as default protection

01:15:55 - Why do banks have equity?

01:19:43 - Toxic debts and brady bonds conversation

01:28:55 - How equalization affects Canadians

01:33:05 - What if Canada owned Bitcoin?

01:36:04 - The Alberta situation and Canadian economic speculation

01:40:14 - Discussion on the adoption of Bitcoin

01:47:25 - Validus Power Company discussion

01:52:10 - Bitcoin and it’s relation to traditional finance giants, MMT

02:00:50 - Closing remarks about gold

02:04:39 - Outro and social media plugs

Links to Mentions in the Show

Three IQ

QBTC

What is a closed end fund?

What is an ETF?

Fred Pye

Archegos controversy

Currency Wars by James Rickards

What is credit rating arbitrage?

Validus Power

Jeff Booth

Find Greg Foss

Greg Foss Twitter

Find Brad Mills

Brad Mills Twitter

Magic Internet Money Twitter

Magic Internet Money Facebook

Magic Internet Money Instagram

Produced by Brad Mills - Twitter, Jason Sanderson - Podcast Tech. Art by Daniel Huddlestone, Show Notes by Go Full Crypto.

Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.