Gating, markdowns and valuation risks

Mentor Sessions Ep. 058: Private Credit Breakdown, US Economic Risk, Canada Collapsing, Bitcoin vs CBDC | Richard Dias

$1.8 trillion in private credit — and the cracks are already showing. Richard Dias, macro strategist and co-host of the Loonie Hour, lays out exactly why the next financial shock may already be in motion.

Rich breaks down how decades of easy money built a private credit empire — and why rising rates, fund gating, and hidden markdowns signal the unraveling has begun. You'll learn why this rhymes with 2008 but hits differently, what central banks will likely do when it blows, and why Bitcoin may be the only credible exit from a system built on valuation lies.

🔔 Subscribe for weekly Bitcoin Podcasts and Tutorials https://www.youtube.com/@BTCSessions

⏱️ Timestamps:

0:00 - Intro & The Private Credit Warning

4:30 - What Is Private Credit & Why It Grew So Fast

14:15 - Blackstone, KKR, Apollo: How the Empires Were Built

26:40 - Fund Gating, Markdowns & Early Warning Signs

41:00 - Is This Worse Than 2008?

55:20 - Central Banks: Will They Bail Everyone Out?

1:08:45 - AI, Rate Shocks & the Perfect Storm

1:22:10 - Contagion Risk: Banks, Pensions & Your Savings

1:33:30 - Gold, Bitcoin & Protecting Your Wealth

1:40:00 - The CBDC Threat & Why It's the Bigger Risk

🔗 Links & Resources

→ Follow Richard Dias on X: @RichardDias_CFA

→ Follow Richard Dias on YouTube: https://www.youtube.com/@IceCapAssetManagement

→ Ice Cap Management: https://icecapassetmanagement.com/

→ Loonie Hour Podcast: https://thelooniehour.ca/

⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB

🔒 Lockdown your Bitcoin with the BEST gear on the market from Coinkite. Get the 5% Off the COLDCARD visit: https://qrco.de/bfiDBV

🛡️ Bury Your Bitcoin Secrets Deep: The ultimate underground vault for seed phrases and hardware—rugged, weatherproof, and built to vanish. Grab 10% off Dirty Man Safe with code BTCSESSIONS at https://dirtymansafe.com

🏠 Unlock Home Equity for Bitcoin: Convert your home's future value into BTC without loans, payments, or interest—stay in control and grow your stack tax-free. Start at https://joinhorizon.com/?ref=BTCSESSIONS

💡BOOK Private Sessions with Nathan, Gary, or Ben at Bitcoin Mentor: Master self-custody, hardware, multisig, Lightning, privacy, and more. 👉 Visit btcmentor.io

Previous Episodes with Matt Hill: https://youtu.be/Dv1-JfjxuAY

Follow Us on X:

• BTC Sessions: @BTCsessions

• Nathan: @theBTCmentor

• Gary: @GaryLeeNYC

#Bitcoin #CBDC #BTCSessions #BitcoinPodcast #privatecredit #richarddias #macro #looniehour #bitcoininvestment #creditmarkets #marketanalysis