#875 Culture Is Fueling Interest In Money And Finance
00:00 what's up everyone this is anthony pompliano most of you know me as pomp you're listening to the pomp podcast simply the best podcast out there now let's kick this thing off today's episode is a look into how culture has been infiltrated by money finance bitcoin cryptocurrencies and various other economic topics this is a huge driver of a renewed interest in these topics across society and culture in America. Before we get into this episode, though, I want to quickly talk about our sponsors. This episode is brought to you by BlockFi. BlockFi provides financial products for crypto investors. Those products include the BlockFi wallet, a US dollar loan collateralized by your crypto, and a no-fee trading product.
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03:39 Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only. Good morning, everyone. Bang, bang. Culture is a hard thing to describe. Most people know it when they see it, though. Culture influences what we think and how we act. Some aspects are derived from hundreds of years of history, while other aspects are created by athletes, celebrities,
04:18 musicians, or the media. Culture surrounds us and is the invisible hand guiding much of our lives. One of the most surprising evolutions of culture in recent years is the renewed interest in money and finance. The world was obsessed with Wall Street, the stock market, and the pursuit of riches more than two decades ago. As that interest waned, culture moved on to other topics. The catastrophic events of the 2008-2009 global financial crisis brought attention back to Wall Street, but it was the type of negativity that gave rise to Occupy Wall Street and other anti-capitalism movements. After a few years of intense hatred, culture appeared to move on to other things again. But the 2017 bull market in Bitcoin and cryptocurrencies set off another cycle
05:01 of cultural obsession with money and finance, though. This initial interest was almost exclusively rooted in capitalistic pursuits of profit. Just as the cyclical interest was scheduled to expire, including a multi-year bear market in crypto assets, the pandemic struck and governments around the world intervened in markets with immense amounts of monetary and fiscal stimulus. These actions created volatility in asset prices, pushed inflation to 40-year highs, and renewed the cultural obsession with money and finance. It is hard to ignore how pervasive of these conversations and ideas have become across various aspects of society. For example, there's a viral video of UFC fighter Bryce Mitchell that has been circulating recently.
05:41 He shares an unfiltered perspective on the Federal Reserve and the perceived negative impact the organization has on the average American. He says, quote, these people control our dollar, brother, and we didn't vote for them. Think about it. You got 13 board members voting on the value of the dollar. Did we vote for that? No, it's corrupted, end quote. Mitchell isn't the only UFC fighter who's been voicing his opinion on these types of topics. UFC fighter Matt Brown recently started talking about Bitcoin in an interview, including his views on why decentralized digital currency is important in the fight for personal freedom. He included a direct quote that said, Bitcoin is our key to freedom. But this renewed interest in money and finance across
06:23 culture is not just within the UFC. We have seen numerous NFL players asked to be paid in Bitcoin, including Aaron Rodgers, Russell Okong, Saquon Barkley, Odell Beckham Jr., and many others. These announcements of Bitcoin payment have almost always been accompanied by some sort of Bitcoin giveaway as well. There are dedicated Twitter accounts that have been created to highlight the absurdities that are playing out across economics and politics. The most notable one is called Clown World, which has amassed 150,000 or more followers in a short period of time. It includes screenshots of things like a recent CNN title that said, soaring gas prices are hurting Americans. It's time for more stimulus checks. Pretty absurd. Athletes and social media
07:06 aren't the only place where we're seeing the cultural obsession. Soulja Boy, one of the top hip hop artists, created an entire song called Bitcoin that included these opening lyrics. quote man this going crazy the cryptocurrency man i made a hundred racks off of bitcoin you can catch the trapping with the bitcoin you can catch me running up the bitcoin i spent six thousand on the bitcoin bitcoin bitcoin i got big coins big coins not exactly a subtle reference to the digital currency i could show example after example it is hard to ignore the realities that majority of americans are facing in the current economic environment gas prices continue to hit all-time highs. Inflation is the highest it has been in decades. Wage growth isn't keeping
07:49 up with what is necessary for people to avoid falling behind. Add in the fact that more information is available than ever before, and you get a recipe for an educated population who wants to have their voice heard. Culture is the ultimate memetic engine. When the suits and bankers are talking about money, finance, inflation, and asset prices, no one really cares. But the second that athletes, musicians, and celebrities start talking about it, A big portion of people begin to care. Culture is accelerating the adoption of Bitcoin and cryptocurrencies.
08:18 This doesn't even account for the rise in NFTs and other aspects of the industry. The technology revolution is underway and those that drive culture will continue to bring awareness and interest. This is what happens when escape velocity is reached. We transition from early adopters to the mainstream population
08:35 and there is no putting the genie back in the bottle. The game is changing. Culture has embraced the new world. Now we just have to sit back and allow time to pass. Momentum will take care of the rest. Thanks so much for listening to today's episode. I really hope you guys enjoyed this one. Make sure you're subscribed on Apple, Spotify,
08:54 or your favorite podcast player. And if you're looking to try to transition to get a new job in the Bitcoin or crypto industry, we've got you covered. Head over to palmscryptocourse.com. We've developed a curriculum with the top teams across the industry. It's a three-week intensive training program
09:09 with over 50 events packed into that three-week time period. Go to pompscryptocourse.com to learn more and I'll meet you guys for the next episode.
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