Interview | Description | Timestamps | Show Notes

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Location: Nashville
Date: Wednesday 29th September
Company: Valkyrie Investments Inc
Role: Co-Founder

Mainstream economists consider a benchmark rate of 1-3% price inflation optimal to promote consumption and economic growth. However, as prices rise, savers lose purchasing power, and asset holders increase their net worth.

Over the last 18 months, more than $5 trillion dollars have been created in the US alone, and legislation that would spend over $3 trillion more is under consideration. This increasing supply of money is driving prices higher.

Today, Consumer Price Inflation has sustained a 30-year high of over 5%, and it may be threatening to go higher.

So what happens next, and how does Bitcoin fit in?

In this interview I talk to Steven McClurg, Co-Founder of Valkyrie Investments. We discuss the problems of rising inflation, fragility in equities and bonds, and if Bitcoin can serve as a hedge.

00:02:51: Introductions
00:06:49: Housing
00:11:47: Inflation is a tax on the dollar
00:14:27: The real cost of bonds
00:20:40: Evergrande
00:22:28: Pensions
00:29:14: Unemployment and staff shortages
00:36:31: Interest rates
00:41:44: Worst-case scenarios
00:45:00: The role of Bitcoin for the state
00:49:48: Threat of impending currency wars
00:55:18: Fear of a world gone mad
01:03:13: Final comments

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Mentioned in the interview:

• Inflation accelerated in September, with consumer prices growing 5.4% | CBS News

• Home Prices in Three U.S. Cities Have Jumped 25% or More in a Year | Bloomberg

• Rent Control Definition - Investopedia

• Here's Why Treasury Nominee Steve Mnuchin Has Been Called the 'Foreclosure King'

• When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany - Adam Fergusson

• Negative Interest Rate Definition - Investopedia

• Greek government-debt crisis - Wikipedia

• What happens with housing when the eviction moratoriums end? | Yahoo Finance

• Fed poised to begin tapering as early as next month | Financial Times

• Scott Minerd (@ScottMinerd)

• Cynthia Lummis (@CynthiaMLummis)

• Warren Davidson (@WarrenDavidson)

• Ted Cruz (@tedcruz)

Other Relevant WBD Podcasts:

• WBD402: Credit Risk & The Bitcoin Hedge with Greg Foss & Andy Edstrom

• WBD374: Debt Cycles & the Rise of Bitcoin with Greg Foss & Dylan LeClair

• WBD364: El Salvador Macro Outlook with Lyn Alden

• WBD363: Why El Salvador Made Bitcoin Legal Tender with President Nayib Bukele

• WBD359: Central Banking, Bonds & Inflation with William Elman & Greg Mercer

• WBD343: The Truth About Inflation with Lyn Alden

• WBD328: Bonds, Inflation and the GBTC Premium with Lyn Alden

• WBD314: Sovereign Bonds & Bitcoin with Lyn Alden

• DEFIANCE: Robbing The Hood - The Steve Mnuchin Story

• DEFIANCE: Disrupted Supply Chains & Hunger | Sten McClurg & Leah Wald