Mark Moss "The ONLY Bitcoin Retirement Strategy You Need. " - Free money?

Mark Moss demonstrate a way to perpetually borrow (and repay) fiat money with BTC colateral.

Rather than a long text explainer, please see the video. You don't need to watch the whole thing if you don't want to, the interesting bit is between 13:50 and 17:40 so just a few minutes.

Point is, assuming we agree in the - imo quite reasonably - growth expectation of BTC - will this work? If not, why not? You keep holding on to your BTC stash, if you like you could purchase more with the loans, the "income" is actually just loans and so are apparently tax free.

When something sounds too good to be true, it usually is, but I just can't see any catch in this. Of course other than if BTC was to crash and burn, but in that case you would lose your value anyway.

Youtube video here: https://youtu.be/8dn7cn4xlIs?t=833