"END THE FED, SAVE IN BITCOIN, LIVE YOUR LIFE"
THE Bitcoin Podcast | Host: Walker America | Guest: Dr. Jeff Ross
Date: August 20, 2025
Overview
Walker America hosts Dr. Jeff Ross—former physician, hedge fund manager, and fervent Bitcoiner—for a wide-ranging, candid conversation on monetary policy, the Federal Reserve, Bitcoin as a savings technology, the rise of Bitcoin treasury companies, macroeconomic cycles, the deflationary impact of AI, and the rapidly changing future of work and society. Blunt, insightful, and optimistic, Dr. Ross shares both cautionary tales and unfiltered calls to action, making a compelling case for opting out of the fiat system and building a better life on Bitcoin.
Main Topics & Key Insights
1. End the Fed: Uncompromising Critique of Central Banking
00:00, 39:19, 41:02
- Dr. Ross minces no words: “I think we should end the Fed. I think the Federal Reserve should not exist...They are the cause of inflation. They are not the fighters of inflation. I want to be abundantly clear about that.” [00:00]
- He calls out central banking as cartel behavior enabling unlimited government spending and currency debasement.
- If made Fed Chair, Dr. Ross says: “The first thing I would do is fire myself and fire everybody else and shut the building down. Turn it into a giant disco or roller skating rink or something.” [40:36]
- The pain felt by the working class—maxed on credit cards with skyrocketing rates—is a direct outcome of policy, not necessity. “They say they're doing this [to help], but they're clearly not doing this. They're the buyers of the US government’s debt of last resort and it just makes me so angry…” [42:12]
Memorable Quote
“If I were the head of the Fed, the first thing I would do is fire myself and fire everybody else and shut the building down. Turn it into a giant disco or roller skating rink or something.”
— Dr. Jeff Ross [40:36]
2. Dr. Ross’s Career Journey: From Multitasking Mayhem to ‘Just Some Dude’
02:59–05:03
- Dr. Ross reflects on 11 years running a hedge fund, independent advisory firm, and working as a physician—while also being a dad and husband.
- He retired from medicine in Jan 2025 and saw his hedge fund named the world’s top multi-strategy performer in 2024.
- Admits: “Having three careers for 11 years has its pros and cons, and there are probably quite a bit more cons than pros, so I wouldn't recommend it to anybody.” [03:46]
- Now focused on quality of life, more family time, and advocating for Bitcoin.
3. Bitcoin: Best Savings Technology & Dangers of Trading and ‘Crypto’ Distractions
08:24–18:52, 92:32
- Candid about past mistakes—Dr. Ross was once a “blockchain not Bitcoin” guy, got into crypto trading, was wrecked in 2018, and left with taxes, regret, and “basically no Bitcoin”.
- “Bitcoin is the sun, and these [altcoins] are like little matches. They flare up and... burn out and there’s nothing to them...” [07:14]
- “Trading it is a fool’s errand for the most part. Most people will lose purchasing power if they do that for long enough.” [00:55]
- The ideal approach: “Provide value, live your life, love your friends and family, and stack sats on the side. The bitcoin price will take care of itself over time and life will get cheaper and your quality of life will improve the longer you’re on a bitcoin standard.” [00:55, 18:52, 92:32]
- Advice: “Bull markets are for paying off debt, not taking it on.” [93:31]
Notable Quote
“There’s something beautiful about just providing value, living your life, loving your friends and family, and stacking stats on the side. And the bitcoin price will take care of itself over time.”
— Dr. Jeff Ross [00:55, 18:52]
4. Bitcoin Treasury Companies: Innovation, Risk, and Cyclical Manias
09:40–13:27, 54:07–58:47
- Explains the “flavor” of this bull cycle: Bitcoin treasury companies (MicroStrategy, MetaPlanet, etc.) acting as leveraged proxies for Bitcoin exposure.
- Praises Saylor (MicroStrategy) and Dylan Leclair (MetaPlanet) as smart operators “extracting purchasing power from the dollar-based fiat markets...into the bitcoin network permanently.” [10:33]
- “Paper bitcoin”—the risk of owning shares in such companies.
- Warns: late-cycle leverage, hype, and risk mean many of these companies may not survive the next downturn.
- “Everybody else just remains to be seen. It's impossible to answer that until we see how they react through this bull market.” [13:27]
5. Macro Drivers: The Three Burner Theory & Dispelling the ‘Four Year Halving’ Meme
21:45–35:42
- Dr. Ross rejects “price moves only because of the four-year halving cycle” narrative, emphasizing macro liquidity, economic cycles, and leverage as the true drivers.
- Three Burners:
- First: Global liquidity (expanding monetary supply = price appreciation).
- Second: Economic performance (manufacturing and services indices; when services and global economy heat up, Bitcoin spikes).
- Third: Retail confidence/speculation (animal spirits, leverage, late-cycle risk-on).
- “Fiat is a depreciating store of value over time. Gold is a stable store of value over time...Bitcoin is now the much more perfect form of money—it’s an appreciating store of value.” [22:05]
- As Bitcoin gets larger (“market cap >$20T”), volatility should dampen, but don’t expect the parabolic gains to disappear soon.
Notable Quote
“Volatility is vitality.”
— Dr. Jeff Ross [23:49]
6. Wall Street, ETFs & Financialization: Is This Bitcoin Winning?
48:27–54:07
- Ross and Walker agree: financialization and mainstream adoption, even by Wall Street and BlackRock, is the sign of Bitcoin’s ultimate dominance, not defeat.
- The Trojan Horse analogy: Bitcoin will “eat Wall Street from the inside out.” [50:45]
- “We need to be building out this other system... a completely separate monetary and financial network built on bitcoin.” [52:53]
- “If you can borrow short at a low interest rate, a depreciating currency and buy an appreciating form of money, you should do that all day, seven days a week if you can.” [53:48]
7. AI, Deflation, and the Future of Capitalism, Work, and Society
61:46–76:11
- Walker and Ross dig into Jeff Booth’s thesis: “Technology is naturally deflationary...AI is accelerating that.”
- Ross foresees AI making vast swaths of both white- and blue-collar work obsolete: “We are almost already at the point where doctors...barely need to exist, right? I would choose ChatGPT to pick the right answer. All of doctoring is just algorithms.” [68:16]
- “It's going to cause GDP to skyrocket and unemployment to skyrocket, too.” [71:01]
- A looming existential threat for capitalism: “If unemployment is 30 or 40 or 50%, does capitalism work in that society? I don't think it does.” [72:57]
- Fundamental redefinition of how humans find purpose and identity in a non-work society—“What do you do when you don’t need doctors anymore?...It’s going to be this entire cultural shift that's just going to blow our minds.” [73:36]
8. War and the Dystopian Risks of Fiat Hyperinflation
63:06–68:16
- Ross fears a US-China hot war within the next four years could fuel massive money printing, leading to potential super-inflation.
- The embrace of stablecoins and yield curve control would allow the US to “literally debase the entire world who’s holding the US dollar system.”
- Optimistic scenario: AI and robotics provide exponential abundance if governments allow it.
9. Social Media Detox, Digital Reclusion, and Mental Health
82:10–90:56
- Dr. Ross describes why and how he left all social media except Nostr, and is contemplating leaving entirely. For him, the algorithmic rage-spirals, time waste, and data harvesting weren’t worth it—life, mood, and relationships improved after quitting.
- On digital footprints: “I don't want to have a digital footprint where these people can just know everything that I have done and that I'm going to do. It just weirds me out.” [84:45]
- Recommends getting offline, touching grass, and investing time in real relationships.
10. Price Predictions, Bitcoin Standard, & Closing Wisdom
92:17–96:02
- Long-term: “I think it's going to be easily a million dollars in 2035 and probably 10 million in 2045. Do you think you’ll care if you bought it at 115 or 150? Just stack sats.” [94:35]
- By 2035: “You’ll be able to get a good New York strip steak for 2,500 sats per pound. That’s my main prediction.” [92:17]
- Revises price targets down for 2025 due to global economic delays, but remains extremely bullish for the following years.
Notable Quotes
“Just stack sats and go about your life. Go hug your wife, go have kids, enjoy your family and go do something productive. Create value for people and the price will take care of itself.”
— Dr. Jeff Ross [95:36]
Memorable Quotes
- “Bitcoin is the greatest savings technology that's ever been created. Trading it is a fool's errand for the most part.” — Dr. Jeff Ross [00:55]
- “Volatility is vitality.” — Dr. Jeff Ross [23:49]
- "We should get rid of [the Fed] today. We should fire all of them...The whole job is a farce." — Dr. Jeff Ross [00:40]
- “The Trojan horse analogy I think is perfect—bitcoin will eat Wall Street from the inside out.” — Dr. Jeff Ross [50:45]
- “What do you need a fund manager for when AI can do it a thousand times better than I can, and all you really need is Bitcoin?” — Dr. Jeff Ross [75:22]
Timestamps of Key Segments
- 00:00 — Dr. Ross’ anti-Fed opening salvo; Bitcoin as opt-out
- 02:59 — Dr. Ross’s career background, burnout, and transition to bitcoin focus
- 05:11 — His journey from “blockchain, not bitcoin” to “bitcoin only”
- 09:40 — The rise of Bitcoin treasury companies & their risks in the bull/bear cycle
- 21:45 — Macro factors vs. halving cycle: the “three burner” theory
- 40:36 — Fiery critique of the Fed, policy failures, and price manipulation
- 54:07 — Financialization of Bitcoin: Trojan horse for Bitcoinization
- 61:46 — AI as deflationary force; mass unemployment and the future of purpose
- 82:10 — Social media detox: benefits, risks, and reflection
- 92:17 — Predictions: Bitcoin price and the “strip steak in sats” metric
- 95:36 — Final advice: Stack sats, live your life, let the price take care of itself
Tone
- Conversational, passionate, optimistic, occasionally irreverent, and full of hard-earned wisdom. Dr. Ross’s delivery is blunt but caring; Walker offers humor and relatability as the voice of the listener. The episode is equally engaging for new bitcoiners and rabbit hole veterans.
For Further Exploration
- Follow Walker America and Dr. Jeff Ross on Nostr for future content (Dr. Ross may go permanently offline—get it while you can).
- Listen to past episodes: deep dives with leading voices on the intersection of money, technology, and freedom.
Bottom Line
If you want hope, clarity, and conviction on the path out of fiat malaise—and a dose of macro and AI reality—listen to (or read!) this episode and start stacking.