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Bankless

How Crypto Fixes U.S. Debt | Fmr Speaker Paul Ryan

Bankless

[email protected]

Tech News, News, Technology

4.81.1K Ratings

🗓️ 28 August 2024

⏱️ 62 minutes

🧾️ Download transcript

Summary

It’s been a while since former Speaker of the House Paul Ryan was in the public spotlight, but in this episode, we discover his surprising stance: he’s bullish on crypto! In fact, he believes that crypto could be crucial in staving off a U.S. debt crisis. We dive deep into his core argument and explore a range of related topics, such as:
- America’s debt crisis
- The potential loss of the U.S. reserve currency status
- How crypto could help the U.S. stay ahead of China
- Why the left is anti-crypto
- Crypto under a Trump vs. Kamala’s administration

This episode highlights how crypto is becoming an essential issue in Washington. Tune in for a comprehensive look at crypto’s growing influence on U.S. politics and beyond.

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TIMESTAMPS

0:00 Intro
5:11 Why Politics Are Messier
7:36 Being Speaker of the House
11:27 Paul’s WSJ Stablecoin Op-Ed
16:47 Paul’s Intro to Crypto
18:54 U.S. Debt Crisis
26:05 Losing Reserve Currency
28:29 CBDCs vs. Stablecoins
38:06 KYC Stablecoins & Legislation
43:27 Anti-Crypto Army
46:16 Is the Left Anti-Crypto?
51:03 Right vs. Left Crypto Adoption
55:50 Kamala vs. Trump
58:49 Advice to Bankless Listeners
1:01:18 Closing & Disclaimers

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RESOURCES

Paul Ryan
https://x.com/speakerryan

WSJ Article
https://www.wsj.com/articles/stablecoins-could-stave-off-a-us-debt-crisis-china-digital-currency-c491d717

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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

Welcome to Bankless, where today we explore how crypto can stave off a US debt crisis.

0:09.0

This is Ryan Sean Adams. I'm here with David Hoffman and we're here to help you become more bankless.

0:14.8

Now it's been a while since Paul Ryan has been in the public spotlight let's say

0:19.7

but it turns out that this former speaker of the House is bullish on crypto.

0:24.4

In fact, he says in today's episode, crypto is necessary to stave off a US debt crisis.

0:30.6

We get into the core of that argument and we also talk about a few other things like

0:35.2

America's debt crisis and why it matters. The loss of the US reserve currency status

0:40.0

and what that means. How crypto can help the US win against China, why the left has been so anti-crypto,

0:46.8

and how we can make crypto bipartisan, and crypto in a Trump White House versus a Kamala Harris White House.

0:53.4

I think this episode is emblematic of how crypto is becoming such a big deal for almost anyone in Capitol Hill,

1:00.4

anyone related to governance.

1:02.4

Paul Ryan, I did not know that he was a Capital Hill, anyone related to governance.

1:03.2

Paul Ryan, I did not know that he was a crypto person.

1:05.8

No one knew that he was a crypto person until he wrote this op ed about the potential of

1:10.2

alignment between the United States and Stable coins back in June of this year.

1:15.0

And I think this is slowly emblematic of how every single politician is going to ultimately have to have an opinion about crypto.

1:22.0

And here today on the episode you're going to hear about Paul Ryan's opinion, about

1:26.2

stable coins and what we can do with them in the United States.

1:29.1

So let's go ahead to get right into that episode, but first a moment to talk about some of these

1:32.1

fantastic sponsors

1:33.2

that make this show possible especially where a place where you can buy or trade or sell or

1:38.0

send stable coins crack it if you do not have an account with crack and consider

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