Jim Bianco on Why 0% Interest Rates and Money Printing Are Gone for Good - Ep. 881

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 5 August 2025

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Subscribe to the new Bits + Bips channels! 📺 YouTube 🎧 Podcast → Apple Podcasts, Spotify, Pocket Casts, Fountain 🐦 X / Twitter Has the Fed entered a new era? In this episode of Unchained, macro strategist Jim Bianco of Bianco Research lays out why the current economic cycle is fundamentally different from what came before. He explains the implications of sticky inflation, why 0% interest rates and money printing may be relics of the past, and how the COVID-era economy created lasting structural shifts. Bianco also gives his candid take on how retail investors have changed markets, why the payments system is still stuck in the 1950s, and how stablecoins and tokenized assets could fix that—if regulators allow it. He breaks down the threats facing major players like Coinbase and Robinhood, and shares a bold theory on what really happened during the GameStop short squeeze. Bianco also assesses what could happen if the Fed is politicized — and whether Chair Powell is likely to be replaced. Thank you to our sponsors! Bitwise Ledn Mantle Guest: Jim Bianco, President and Macro Strategist at Bianco Research, L.L.C. Timestamps: 🎬 0:00 Intro 📉 3:36 Why Jim called the latest economic revisions “extraordinary” 🔥11:56 Whether we’ve entered a post-COVID “new normal” of sticky inflation 👔 18:14 Could Trump really fire Powell — and what would that mean for the Fed? 📉 23:36 What happens to markets if Trump pushes through aggressive rate cuts 🛍️ 29:45 How retail investors flipped the power dynamic on Wall Street 💳 26:04 Why Jim says outdated payment rails are holding back stablecoins 🧩 46:17 Jim’s bold theory on how the GameStop halt was really about saving Schwab 🚫 50:12 Why he’s skeptical of the SEC’s “Project Crypto” ⚔️ 57:17 Why Coinbase and Robinhood are bracing for a new wave of challengers ⚠️ 59:28 What could happen to crypto treasury companies in a bear market 🏛️1:01:43 What’s still broken in tokenized stocks — and how to fix it Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I think we're in a different cycle.
0:02.0	Money printing, you probably will never see again in your lifetime.
0:05.0	Zero interest rates, you will probably never see again in your lifetime.
0:09.0	Yield curve control, you will probably never see again in your lifetime.
0:13.0	Those are artifacts of the previous cycle.
0:20.0	Hey all, in today's episode, macro expert Jim Bianco unpacked a series of major shifts
0:25.1	taking place across the U.S. economy, monetary policy, and crypto.
0:29.3	We started with the significant downward revisions to recent U.S. job growth data, something
0:33.8	Jim believes most analysts are misinterpreting.
0:36.5	He gave a great explanation as to why these numbers don't necessarily signal a weakening economy.
0:41.4	From there, we zoomed out.
0:43.1	Jim argued we've entered a new economic regime, one where interest rates stays structurally higher,
0:48.6	inflation is stickier, and the old playbook of zero rates and quantitative easing is off the table.
0:54.3	He warns that money printing, as we know it, might never come back in our lifetimes,
0:59.0	which I have a feeling most of you aren't going to love.
1:02.7	We also talk about crypto and the future of financial infrastructure.
1:06.4	Jim Lee's out a vision for a real-time, low-cost payment system, powered by stablecoins,
1:11.8	which sounded awesome and like streaming defy or Dow payments.
1:15.9	But he says the U.S. regulatory landscape is a huge barrier to innovation,
1:20.6	which isn't the best news, but I have to give them credit that does seem like it's likely.
1:27.4	He's also skeptical of tokenized stocks and crypto treasury companies, calling them leveraged plays that may not survive in the next bear market.
1:35.2	Finally, Jim discusses the growing speculation that Fed Chair Jerome Powell could be replaced and what that would mean for markets.
	...

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