Bitcoin & the Future of Bonds with Greg Foss

“Bonds have been in a 40 year favourable market to own. That’s now changed. Anybody managing a bond fund now has only experienced the positive about being a bond fund manager. This is a new paradigm for them, and old habits die hard.”— Greg FossLocation: MiamiDate: Thursday 2nd DecemberCompany: Validus Power CorpRole: Bitcoin StrategistCredit is central to the modern capitalist system. This makes bonds the most important financial contract in the world, significantly more important than equities. So, when credit markets get sick, all other markets suffer.Bonds have performed well for nearly two generations. However, the market looks like it’s about to turn. Yields are being suppressed by unprecedented government purchase schemes. This has to end, and when it does, yields will increase, prices will drop, and debt will become more costly for governments.The demand side effects are just as damaging. Pension funds are mandated to make significant bond purchases (usually representing 40% of a portfolio). Low bond yields in a high inflation environment result in increased liabilities for pension funds. Rising yields are obviously better, but not for those holding bonds dropping in value.Is it time for pension funds to be allowed to add bitcoin to their portfolios?In this interview, I talk with Bitcoin Strategist Greg Foss about how government bond markets are being manipulated through quantitative easing and how this will soon have to end. We further discuss what this means for equities and pensions and the potential for investors to seek refuge in bitcoin.This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesSportsbet.io - Online sportsbook & casino that accepts BitcoinCasa - The leading provider of Bitcoin multisig key security.Exodus - The world's leading Desktop, Mobile and Hardware crypto wallets.Ledger - State of the art Bitcoin hardware walletCompass Mining - Bitcoin mining & hosting-----WBD435 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.