Validus Power Corp.’s Greg Foss Claims Bitcoin Offers Protection from Fiat Currency Collapse

"Validus Power Corp.'s Executive Director, Greg Foss, Warns of Potential $10 Trillion Equity Wipeout in Banking Industry and Highlights Bitcoin as a Safe Haven Asset"

In a recent Youtube video, Greg Foss, executive director of Validus Power Corp., expressed his concerns about the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss believes that holding hard assets such as real estate, gold, and bitcoin can provide insurance against the failure of a basket of fiat currencies. He specifically mentioned bitcoin as the best hard asset available. Foss’s comments come at a time when chaos has erupted in the US banking industry following the second, third, and fourth-largest bank failures in the country’s history.

During a conversation with Kitco’s lead anchor and editor-in-chief, Michelle Makori, Foss weighed in on Fed chairman Jerome Powell’s recent statement that the US banking system is “sound and resilient.” Foss opined that Powell is a horrible poker player, and there is another shoe to fall in the banking industry. He believes that the possibility of more banks collapsing is high, and while the largest banks are considered too big to fail and will likely receive bailouts, shareholders may not be so lucky. Foss estimates that there is at least $10 trillion of bank equity globally that can be wiped out if the system fails.

Foss expressed his support for hard assets and specifically mentioned real estate, gold, and bitcoin. While he believes that bitcoin is the best hard asset, he also recognizes the value of gold as an investment. However, Foss advises against selling gold to purchase bitcoin. Instead, he suggests selling a portion of one’s bond portfolio to invest in bitcoin. According to Foss, if a person doesn’t own bitcoin, they are actually taking on more risk. He believes that bitcoin can be looked at as insurance on the failure of a basket of fiat currencies.

Foss concluded his conversation with Makori by noting that bitcoin is a free and open market, while the fiat Ponzi is manipulated by guys like Jerome Powell. He believes that the Fed tightened too much because they waited too long to tighten at the outset. Foss thinks that the possibility of more banks collapsing is high and that significant financial losses can occur if shareholders are not lucky enough to receive bailouts.

Foss’s comments are significant given the current state of the US banking industry. The recent bank failures have raised concerns about the stability of the banking system, and Foss’s support for holding hard assets like real estate, gold, and bitcoin can provide investors with a sense of security. While some may disagree with Foss’s assessment of the banking industry’s potential failures and the need for alternative investments, his comments are worth considering.

In conclusion, the Validus Power executive’s support for hard assets like real estate, gold, and bitcoin has gained attention in the cryptocurrency community. Foss’s comments come at a time when the US banking industry is facing significant challenges, and investors are looking for alternative investments that can provide them with a sense of security. While some may disagree with Foss’s assessment of the banking industry’s potential failures, his comments are worth considering. It is essential to note that Foss’s opinions are his own, and investors should conduct their research before making any investment decisions.

Martin Reid

Martin Reid

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