The Jack Mallers Show From Bonds to Bitcoin: The Rules of Money Are Changing
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Aug 12, 2025 The podcast dives into the shift from traditional bonds to Bitcoin as a leading store of wealth, revealing the faltering role of bonds in today’s economy. It highlights the struggles faced by cities like Chicago and critiques ineffective monetary policies. The discussion emphasizes Bitcoin's potential for societal change, blending humor with insights on accessibility and market developments. Listener questions about borrowing strategies are also addressed, contrasting complex monetary policies with Bitcoin's simplicity. Community and gratitude take center stage, celebrating the journey of entrepreneurship.
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Bonds Losing Reserve Status
- The global reserve capital asset has shifted from bonds to something else as bonds have lost value over five years.
- Bitcoin is presented as the new monetary asset that can preserve long-term capital against fiat debasement.
Chicago As A Real-World Example
- Jack describes Chicago's decline and connects it to fiscal mismanagement and ruined pension funding.
- He uses his personal ties and family history in Chicago to humanize the macro problem.
Pension Doom Loop Explained
- Chicago overpromised generous pensions but underfunded them and invested in bonds and commercial real estate.
- Those assets have collapsed, creating a fiscal doom loop of declining revenue and rising liabilities.