Greg Foss and Dylan LeClair discuss how bitcoin solves the global credit unwind and the way this cycle differs from the 2008 subprime mortgage crisis.
This is a recording of a recent Twitter Spaces conversation about broken credit markets, runaway inflation and why we need to fix the current financial system.
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Dylan LeClair: For the last 40 years, it seems like the bubble, as this duration component unwinds and as that long date risk-free rate goes way, way higher or has gone way higher, that the 60/40 portfolio pensions with those kind of the LDI (liability-driven investing), where they were using those long-dated bonds as collateral, it seems like that’s maybe the breaking point.
Like maybe that happens in the U.S., maybe not. But if long-dated Treasurys are trading like shitcoins, there’s some pretty big implications there in terms of how the overall financial system is constructed. So the question I propose is: Although we rea
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