Part 2/11:
Livingston begins by highlighting the monumental scale of global net worth—$600 trillion—with $251 trillion held as debt, approximately 42% of all wealth. What's compelling is that every dollar of this credit system hinges on collateral—the assets pledged to secure loans. Current collateral assets, such as government bonds and real estate, are under relentless pressure due to inflation and rate hikes, undermining their reliability.
He argues that Bitcoin presents a unique solution: a scarce, tamper-proof asset immune to printing, seizure, or infiltration by political forces. Given its fixed supply of 21 million coins and global, continuous auditability, Bitcoin is positioned to absorb a significant portion of this $251 trillion credit pool.