Fidelity's Warning, Bitcoin Mortgages, and the $120T Wealth Transfer

Mar 27, 2026

Andy Schechtman, founder of Miles Franklin with decades in the gold trade, brings a gold-bug’s lens to modern markets. He discusses gold and Bitcoin as complementary stores of value. Conversation touches on AI-driven cybersecurity risks, institutional moves into Bitcoin, Coinbase’s BTC-backed mortgage idea, and the idea of a $65K–$70K structural price floor for Bitcoin.

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INSIGHT

AI Leap Raises Cybersecurity Cost Collapse

Anthropic's leaked Mythos model signals a step-change in AI capabilities, raising new cybersecurity risks as attacks that once cost millions may now be automated cheaply.
Brady highlights leaked docs showing Mythos outperforms Opus on coding, reasoning, and cybersecurity, prompting concern that lower attack costs will rewrite security economics.

INSIGHT

OECD Forecasts Energy Driven Inflation Spike

OECD now forecasts US inflation at 4.2% for 2026, driven mainly by Iran-related energy disruptions rather than pure monetary stimulus.
John and Brady note this oil/shipping shock could trigger policy responses and potentially monetary easing if tensions persist.

INSIGHT

Major Bank ETF Signals Institutional Entrenchment

Morgan Stanley's new spot Bitcoin ETF (MSBT) is meaningful because it gives a huge wealth-management platform direct control over client Bitcoin allocation.
John emphasizes Morgan Stanley's 16,000 advisors managing $6.2T and their motive to keep fees in-house rather than pay BlackRock/Fidelity.

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Anthropic “Mythos” AI leak suggests a major capability jump, raising serious concerns about AI-driven cybersecurity threats and collapsing cost barriers for attacks
AI is rapidly changing the economics of security—attacks that once cost millions may now be executed cheaply and quickly
OECD projects U.S. inflation rising to 4.2% in 2026, driven by geopolitical tensions and energy disruptions
Morgan Stanley’s Bitcoin ETF (MSBT) signals deep institutional commitment and expectation of long-term portfolio allocation demand
Bitcoin volatility continues to decline, weakening a major institutional objection to allocation
Market structure is shifting: $65K–$70K is increasingly viewed as a structural price floor
Strategy (MicroStrategy) expanding capital raise capacity highlights continued corporate Bitcoin accumulation
Coinbase introduces Bitcoin-backed mortgage down payment loans, expanding real-world utility without forcing BTC sales
Private credit and real estate funds showing stress (gating redemptions), reinforcing Bitcoin’s liquidity advantage
Discussion with Andy Schectman highlights convergence between gold and Bitcoin as complementary assets rather than competitors

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