# "There's Never Just One Cockroach" Credit Crisis Incoming | Richard Dias Page: https://stenobird.com/podcast/btc-sessions-354141/there-s-never-just-one-cockroach-credit-crisis-incoming-richard-dias Text version: https://stenobird.com/podcast/btc-sessions-354141/there-s-never-just-one-cockroach-credit-crisis-incoming-richard-dias.md Podcast: [BTC Sessions](https://stenobird.com/podcast/btc-sessions-354141) Published: 2026-03-17T10:52:00+00:00 Episode link: https://podcasters.spotify.com/pod/show/btcsessions/episodes/Theres-Never-Just-One-Cockroach-Credit-Crisis-Incoming--Richard-Dias-e3gii8f Audio file: https://anchor.fm/s/11e95d20/podcast/play/117049039/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-2-17%2F420185532-44100-2-44e3216f05cf.mp3 Processing state: not_requested JSON: https://stenobird.com/v1/public/podcasts/btc-sessions-354141/episodes/there-s-never-just-one-cockroach-credit-crisis-incoming-richard-dias Duration seconds: 6208 ## Resource 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 🛡️… ## Actions - request_transcript: `POST https://stenobird.com/v1/public/podcasts/btc-sessions-354141/episodes/there-s-never-just-one-cockroach-credit-crisis-incoming-richard-dias/transcription-requests` — Idempotently request low-priority transcript generation for this episode. - read_markdown: `GET https://stenobird.com/podcast/btc-sessions-354141/there-s-never-just-one-cockroach-credit-crisis-incoming-richard-dias.md` — Read the agent-friendly Markdown representation of this episode resource. A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed. ## Transcript Full transcripts are not published on public pages unless there is a clear rights basis.