Today’s episode features Sam Callahan, a Senior Analyst at Swan Bitcoin and host of Swan Signal. Sam is super knowledgeable about macro, finance and history, so it was an absolute pleasure picking his brain on all the "big picture" topics of the day, as well as Bitcoin. Timestamps: (2:45) The era of fiscal dominance explained (7:53) History of the Fed's independence (14:08) Are we in 'The 4th Turning'? (17:58) Saving in bitcoin (22:46) Bitcoin is a risk-off asset for many (26:29) What the money managers are thinking (33:04) Risk tolerance and risk reward (44:35) Bitcoin's success is it's store-of-value (46:37) Careful with multi-sig For more commentary on the world of Bitcoin and what makes it different to crypto, follow me on X at @Dale21M or the show at @whybitcoinshow, or visit www.thewhybitcoinshow.com for more episodes. Thanks to Sam for coming on the show – you can follow his work on X at @samcallah or on Swan's website ⁠swan.com/samcallahan⁠.