Episode Details

Mark Connors sat behind Michael Lewis at Salomon Brothers in 1986 as Liar's Poker was being written. Forty years later, as founder of Risk Dimensions and former Global Head of Risk at Credit Suisse, he's concluded there are no levers left to pull in the fiat system — and Bitcoin is terra firma.

He breaks down why Kevin Warsh won't fix the Fed, why the SLR repeal is the real story, why Powell's rate hike campaign was indefensible from a risk management perspective, why a 3% Bitcoin allocation increases 60-40 portfolio returns by 35% with lower downside deviation, and why STRC could trade at 4.5% as Bitcoin mining decentralizes further — unlocking a tidal wave of institutional capital.

TIMESTAMPS:

00:00 Cold Open

00:41 Mark's Story — Salomon Brothers & Liar's Poker

03:41 Kevin Warsh, The Fed & The SLR Repeal

10:22 Hedge Funds, Foreign Demand & Treasury Auction Risk

14:08 Bessent, Short-End Financing & The Debt Treadmill

16:52 Glass-Steagall's Repeal — The Moment Everything Changed

20:00 SVB, Powell's Rate Jihad & Unpriced Risk

29:53 Institutional Adoption of Bitcoin

35:02 Evaluating Digital Credit Strategies

43:07 Sovereign Bitcoin Reserves & The Game Theory

46:56 Resources & Stay Orange

Follow Mark: https://riskdimensions.io Substack: The Macro Case For Bitcoin | Podcast: The New Barbarians

Special thanks to @hemi_xyz — https://bit.ly/hemiXYZ

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⚠️ Not financial advice. Do your own research.

🟠 Stay Orange.