The David McWilliams Podcast From The Godfather to the Blockchain: How Easy Money Seduced Wall Street (and the White House)
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Aug 12, 2025 This discussion unearths the parallels between classic films and modern finance, especially the shift of major players towards easy money. It dives into the thrilling rise of cryptocurrency from rebellion to power player in Washington. Listeners explore why money should be viewed as a public good, the implications of stablecoins, and the risk of a weakened Federal Reserve. Amidst the cultural commentary, it reflects on the societal allure of easy money, revealing how human nature shapes our financial landscapes.
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Jamie Dimon's U‑Turn On Crypto Collateral
- David McWilliams notes Jamie Dimon suggested JP Morgan might accept crypto as loan collateral.
- This U-turn signals Wall Street legitimizing crypto to chase easy profits.
Godfather Analogy: Crime Family's U‑Turn For Profit
- McWilliams likens Wall Street and Trump to the Corleone family, abandoning principles for big profits.
- He says they join crypto because 'easy money' outcompetes scruples.
Crypto Is A Powerful Lobby Group
- McWilliams describes crypto as a well-financed lobby pushing to rewrite US regulation in its favor.
- He says whales fund politicians to legitimize an asset class that lacks economic necessity.
