Other countries are likely to look into how they too can get money without having to deal with the rapacious bankers at the IMF.
A Bitcoin bond is a great way to secure funding outside the bounds of the traditional financial system.
Well, according to a report from CoinDesk, Goldman Sachs, and a handful of othe tier-one US banks, are figuring out how to use bitcoin as collateral for cash loans to institutions, according to three people familiar with the plans.
Emulating tri-party repo type arrangements (a way of borrowing funds by selling securities with an agreement to repurchase them, involving a third-party agent), banks are exploring ways to follow the same path of not touching bitcoin, like other synthetic products.
"Goldman was working on getting approved for lending against collateral and tri-party repo," said one of the people.
"And if they had a liquidation agent, then they were just doing secured lending without ever having bitcoin touch their balance sheet."
"We've probably spoken to half a dozen big banks about [bitcoin-backed loans]," said a second person from a large institutional trading firm.
"Some of them are in the next three to six months category and some are further out. What's interesting is some of these banks will use their own balance sheet to make the loan. Others will syndicate this out."