Nick Nemeth: Private Credit Will Blow-up Insurance System | Immense Leverage, Shaky Loans, and Retirement System That Actually Does Have Run Risk (via Surrenders)
About this episode
Nick Nemeth discusses the risks posed by private credit to the insurance system and the potential for a financial crisis.
Sponsor: Teucrium Corn Fund (NYSE Arca: CORN): https://teucrium.com/corn Private credit has ballooned to roughly a trillion dollars, but Nick Nemeth of Mispriced Assets argues the danger isn't the banking system — it's insurance. In this Monetary Matters interview with Jack Farley, Nemeth lays out how private-equity-owned insurers have become highly leveraged holders of private credit and CLOs, why he thinks annuity surrenders could spark a run with no federal backstop, and how adjusted EBITDA, layered leverage, and lax loan ratings mirror the setup before 2008 — except, in his view, the scale looks more like 1929. He closes with contrarian rankings of Apollo, Ares, Blackstone, and Blue Owl. Recorded July 14, 2026. Teucrium on X https://x.com/TeucriumETFs Nick Nemeth on X https://x.com/NickNemo17 Jack Farley on X https://x.com/JackFarley96 Nick Nemeth’s article, “The Smart Money Is the Subprime This Time”: https://mispricedassets.substack.com/p/the-smart-money-is-the-subprime-this Follow Monetary Matters on: Apple Podcasts https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez This episode is sponsored by the Teucrium Corn Fund (CORN). Download our free…
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