This week we are joined by Manny Rincon-Cruz (https://twitter.com/mrinconcruz). We cover a wide range of topics including the history and nature of money, why Bitcoin and the U.S. Dollar can be friends, what makes a stablecoin a stablecoin, the role of crypto in geopolitics, and the potential of DeFi's disintermediation of financial activity.

Manny is an Executive Director in the History Group at the Hoover Institution of Stanford, a web3 investor, and a builder of DeFi protocols himself through the Buttonwood foundation and Prometheus Research Labs as well as an advisor to well-known projects like Ampleforth.

To learn more about Manny's projects, you can follow his writing at thinking.farm and follow the Buttonwood Foundation on Twitter @ButtonDeFi or on their website button.foundation.

You can also follow the Moonshot Research team @USA_Pharoah, @KidQuartz1 and @PapaPelli or visit us at www.moonshotresearch.xyz.

[0:00] Introduction to Manny Rincon-Cruz

[2:40] How Manny first started thinking about crypto and money

[6:00] How Manny views of money have adapted since 2017

[7:10] Why we should be bullish on the U.S. and the Dollar and Bitcoin can be friends

[12:50] How the relationship between gold and sovereign debt could translate to DeFi

[14:20] The bull case for the United States and US dollar (and Dollar geopolitics)

[17:10] The impact of sanctions on US dollar markets and crypto

[19:00] What makes a good government currency vs. digital currency

[24:00] Where dollar dominance comes from and how it plays into US geopolitics

[27:40] The value unlocked by DeFi rails and disintermediation of financial services and why the U.S may be unique advantaged to capitalize on crypto

[32:10] The benefits of using a disintermediated financial system and how web3 could become a stronger American economic sector

[39:30] Perspective on GameFi and NFTs

[41:25] The Buttonwood Foundation and how Manny is building a web3 bond market

[45:00] Why margin leverage tends to lead to underperformance and path dependence

[48:00] How Buttonwood works, avoids margin calls via non-callable debt, and allows users to split equity and debt on chain

[52:05] Recent blowups of Celsius, 3 Arrows Capital, Luna/Terra and the current crypto macro environment

[58:30] Creating crypto native currencies and on-chain monies

[1:00:00] Fallout from current crypto collapses

Follow the Moonshot Research team @USA_Pharoah, @KidQuartz1 and @PapaPelli or visit us at www.moonshotresearch.xyz.