The Pete Quiñones Show Episode 1305: 'The City of London' - A Non-PC History - w/ Philos Miscellany and Stormy Waters
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Dec 14, 2025 
Philos Miscellany, a YouTuber specializing in historical scholarship, and Stormy Waters, a venture capital expert, dive into the intriguing history of the City of London and its banking system. They explore the medieval Jewish influence on finance, the rise of national debt, and the innovations brought by expelled Iberian Jews. The discussion highlights the evolution of the bond market, offshore finance, and even the dark side of illicit capital flows. They also critique modern central bank policies and their potential control over economies.
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Outsized Financial Influence Despite Small Numbers
- Jewish financiers often held outsized influence in early English finance despite being a minority of elites.
- Influence came from concentrated roles in lending, credit and specialized financial networks rather than numerical dominance.
Medieval Credit Origins And Transfer Of Power
- Jews and Italian bankers introduced modern moneylending and credit practices to Norman England after 1066.
- These practices created concentrated debt power that later shifted to Lombards and other continental bankers after Jewish expulsion in 1290.
Amsterdam Innovations Migrated To London
- Dutch Sephardic Jewish families in Amsterdam pioneered financial innovations like futures, annuities and perpetual bonds.
- These innovations later migrated to London after William of Orange's 1688 accession and shaped modern banking markets.
