meta_pixel
Tapesearch Logo
Log in
Bankless

Arthur Hayes: Money Printing & The Crypto Bet

Bankless

[email protected]

Tech News, News, Technology

4.81.1K Ratings

🗓️ 19 May 2025

⏱️ 94 minutes

🧾️ Download transcript

Summary

Arthur Hayes returns to Bankless for a wide-ranging macro and crypto conversation. We cover why ETH ripped, why the Trump administration might walk away from US treasuries as the global reserve asset, and why capital controls—not tariffs—could redefine the global economic order. Arthur lays out his full thesis on how a massive shift in global liquidity is unfolding, what it means for crypto, and why he’s betting big on Bitcoin, gold, and “buying everything” as the money printers rev up again. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🌐SELF | PROVE YOUR SELF https://bankless.cc/Self 🟠HEMI | BTC & ETH, ONE NETWORK https://bankless.cc/hemi ------ TIMESTAMPS 0:00 Intro 0:34 ETH’s Back? 2:25 Bretton Woods 7:38 The Petrodollar 9:37 The Petroyuan 17:47 US China Trade Imbalances 20:22 Liberation Day & Tariffs 33:19 Capital Controls 38:42 US Capital Flights 44:51 Dual Monetary System 49:08 Bitcoin as a Reserve Currency? 50:19 Buy Everything Except Bonds 53:07 Scott Bessent 57:02 QE is Inevitable 1:02:15 Stablecoins 1:06:55 Trump’s Pro-Crypto Campaign 1:11:44 Global Liquidity 1:21:20 Gold Reevaluation 1:25:18 Hot War Scenario 1:29:54 Arthur’s Bags 1:30:33 Crypto Cycle 1:35:07 Closing & Disclaimers ------ RESOURCES Arthur Hayes X https://x.com/CryptoHayes Arthur’s Blog Post https://cryptohayes.medium.com/fatty-fatty-boom-boom-52e47a03f487 Arthur Hayes IG https://www.instagram.com/cryptohayes/ LinkedIn https://www.linkedin.com/in/arthur-hayes-b493b42/ Substack https://cryptohayes.substack.com/ Maelstrom https://maelstrom.fund/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Transcript

Click on a timestamp to play from that location

0:00.0

Again, what do we know happens whenever the markets go down, especially the bond market

0:04.6

and volatility goes up, they print the money.

0:07.6

And so the consequence of capital controls is that the Treasury of the Fed and politicians

0:14.1

must all do their part to create policies to provide dollars to replace the foreigners who

0:20.4

are leaving and they're just going to print

0:21.7

them and the consequence will be gold and bitcoin go through the moon bankless nation we've got

0:30.5

arthur hayes in the podcast again arthur how you doing man good how are you right hey i'm feeling pretty

0:35.3

good on the prices today uh first question this is going to be a tough one for you. Why did Eith go up 50% over the last seven days? How the hell

0:42.7

did that happen? Everyone thought it was dead. That's why. Yeah. The most hated coin or more hated

0:48.5

asset goes up the fastest in the next cycle. Just human nature. I don't know why. There's like no other explanation for this.

0:55.9

There's nothing that you're slits have found in the order books or anything. I'm sure someone can

0:59.8

concoct. It's the, was it the Petra upgrade? It's, you know, Vitalik becoming a little bit more active

1:05.9

on social media, whatever. You can come up with any sort of rationale as to why the price is going up. Or it's just,

1:11.6

you know, it's been hated, you know, for the last two years because Solana went from

1:15.1

seven to 300 and now, you know, people think it's, oh, this is the new, the new, new, new thing.

1:20.6

Yeah, this is kind of my take. It was time. I mean, I know you were saying this back in March when it was like, that was probably peak, at least lately, hate on ether. I mean, Bitcoin ether ratio was going down. Salana was kind of like running,

1:32.8

all of crypto was just like just hating on it, right? It was kind of dead. And I saw, I think I saw

1:38.1

an interview from you like some tweets or something and you were bullish at that point in time.

1:42.3

So I'm not going to say, I'm not like, you're not vindicated, right?

1:45.6

Because I think you're looking for a price call around 500K or something like that.

1:49.0

You're still looking for a run on this thing.

1:50.6

But it's starting to feel good for the Heath Bulls in the room.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from [email protected], and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of [email protected] and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.