A Little History for Framing Our Desire for Fair Banking

What if the financial system we trust today was never designed to serve you in the first place?

In this episode of the Weekly ROAR Podcast, Dustin Hedrick and Brandon Billings take a step back to examine the historical foundations of the modern financial system—and how we got to where we are today. From early resistance to centralized control to pivotal moments like the creation of the Federal Reserve and major policy shifts, this conversation connects the dots between past decisions and present-day challenges.

As financial power has become increasingly centralized, new technologies like cryptocurrency are emerging as a response—offering the potential to restore individual ownership, transparency, and control.

•  How the U.S. financial system evolved from decentralization to centralization 
•  Key historical moments that reshaped financial power and policy 
•  Why crypto and emerging technologies are pushing toward a more balanced system 

Resources & Links:
 https://www.r0ar.io/

If this episode gave you a new perspective, follow the podcast, share it with someone interested in finance or history, and stay connected as we explore the future of fair and transparent systems.

Weekly ROAR Podcast with Dustin Hedrick & Brandon Billings
Sponsored by https://www.r0ar.io/

Transcript

SPEAKER_00 0:04

Welcome to your weekly roar. We're going to break down what actually matters, cut through the noise, and give you something you can use right now. I'm Dustin, and the gloriously bearded one with me is none other than my best friend Brandon. And today we're diving into something deeper than markets, deeper than crypto. We're talking about how the entire financial system evolved and what that means for you today. So don't get bored out. We feel like this is gonna actually go viral because honestly, you're gonna hear some stuff you probably haven't heard before that are connected to our white paper. So if you've ever wondered why money feels harder to hold on to, why systems feel more centralized, or why crypto even exists, this one's for you, so let's get into it.

SPEAKER_01 0:55

This week's Spark is simple. Was the system always designed this way, or did it change over time? Because if you go back to the beginning, the founding of the United States, it was actually built to resist centralized financial power. The goal was clear limit federal control, avoid concentrated banking power, keep economic freedom close to the individual. Even Thomas Jefferson warned that banks could become more dangerous than armies. But here's the shift. That system didn't stay the same. Over time, through wars, crises, and uh policy decisions, the structure evolved, and not in small ways, in foundational ways.

SPEAKER_00 1:38

So good. Alright, quick take. Here's the thing that most people get wrong. This didn't happen overnight. It happened gradually over generations and mostly during moments of crisis. We're not even covering all of the different parts where crisis was used in this recording because we don't have time. So the first major crack, let's go back to the first major crack that we can point to, is the Civil War. And that's when we saw the first federal income tax and the introduction of fiat currency. Even though it was temporary, it set a precedent. And remember, inside of our government, precedents actually matter for the future. They're not just a small thing. We should be very careful what we do new, because when a precedent is set, presidents and congress and judges will point to those and say there was a precedent. So the government actually could directly tax income and control money supply. So once that door opened, it never fully closed. So before we get in the next part of this, this might be a good moment to grab a coffee or reset for a second because what we're about to get into goes a layer deeper.

SPEAKER_01 2:57

The deep dive. All right, this is where everything changes because there's one year you need to understand it's 1913. The double shift. Two massive things happened. That created a dual system. The government taxes your income, and a central bank controls the money supply. That's a structural shift, not just policy, it's power. The shift in who pays before 1913, government funding came mostly from tariffs. Foreign goods carried much of that burden. After 1913, the burden moved from domestic workers through income tax.

SPEAKER_00 3:46

Guys, this is not a joke. This is the framing of a shift that came without the large citizenship of America agreeing. The shifts we just talked about, they were not really agreed on. They were imposed. And they were done through whether it was EO, congressional movements, or whatever. But things happen in ways through this season that were not by the agreement of the American people. We need to remember that it's key. When people redo a precedent because it's a precedent, that doesn't mean it was a passed law by Congress or an amendment. Very important. Now we have some amendments we'll talk about in a minute, uh, but even those were with lack of oversight or thought, foresight for the future. So 1933, there was a defining moment. We cannot go any further. A lot of stuff will skip this all together. We want to make sure you understand what happened in America because sketchy of it's an understatement for what this was. So here's one of the most controversial moments in financial history: gold confiscation in 1933. Think about when 1933 was the Great Depression, World War II starting to stir up, you've got Hitler and whatever going on. And here we are in America, we're doing something that should have never happened: gold confiscation. Americans were required by law to turn in gold, and they were had to do it at a fixed price that the government set. Then shortly after, when the government had control of all gold, the government revalued gold higher than the very currency they had put out against it, which means citizens were paid less, the dollar lost value, and purchasing power dropped significantly. So individuals that had done the right things and holding on to gold, even in their currency or in their regular gold store, it could be your jewelry, whatever. They were deemed illegal. And people went to jail for this, people. People went to jail because they did the right thing in saving to protect their family against what could come. I mean, I just need you to hear that, that this really happened. So, real talk moment. Let's be honest for a second. Whether you view these decisions as necessary or overreach, the result is undeniable. Power became centralized, and we can't argue with it. Even the most woke AI out there will not argue with me on that point.

SPEAKER_01 6:27

The modern system. Let's fast forward to today. National debt is about 34 trillion, roughly 100,000 plus per person. At the same time, fractional reserve banking expands credit, inflation reduces purchasing power, savings lose value over time.

SPEAKER_00 6:46

You know, I want to even go harder on this a little bit. Banks take in your $1 and they loan out $8 to $9 against it, and you get no percentage return. What happens with that? Well, guess what? That goes out into credit forms. It offers ability for people that maybe shouldn't be able to buy things, to buy things with credit. And then guess what happens to that? That raises the price against you, the consumer, who put your money in the bank. Guess what you just did? By saving, you got less return and you just taxed yourself higher on your buying power. I'm just saying, this is real. Let's get real. Another way to do it is print a bunch of money if the Federal Reserve create a massive debt, reduce the spending power of the dollar, and then just blow that money everywhere, send overseas or whatnot. Guys, this is real. I want to take it deep so you know what we're talking about. This really happened. We got to blow the whistle on it. We got to call it out. We can never repeat this again. So, hot seat question. Right now, here's the question you've got to ask yourself. If your money loses value over time and the system expands through debt, who benefits most? Oh my goodness. I'm not gonna answer that for you. I'm gonna I'm just gonna take a moment right here before we land this and take a second and think about how this actually shows up in your world because the next piece is where it all starts to connect.

SPEAKER_01 8:09

Now let's get into this right now. It's time for the roar because this isn't just history. This is context for what's happening today. Why crypto exists. Crypto didn't just appear randomly, it emerged as a response to centralized control of money, inflation, lack of transparency, and financial gatekeeping.

SPEAKER_00 8:32

I mean, seriously, the white paper bit written by Satoshi goes over this, but even more so, in the Genesis block of the Bitcoin blockchain, which is where crypto really got its genesis in this current era, in that Genesis block, it puts in the New York Times uh post that says that the chancellor just bailed out the banks and that there's money printing from reserve federal or centralized banking. So, folks, it's it's literally a result. It's not a joke. It's directly tied to it. And since 2008, when that happened, it's gotten even worse. Let's be clear. So the shift back. How do we get back? Now we're seeing something interesting. Decentralized finance, self-custody wallets, tokenized assets, and AI-powered financial systems are all pointing towards returning control of finances to individuals, returning the returns to the individuals, returning the rewards to the individuals, returning the ability for anything to fluctuate in the value of that crypto to the individuals, not some person that's going to mass print. So, what this really means, we're at a moment where old systems are still dominant moment. It's about to change, the Clarity Act happens, and you know, and as this stuff rolls out, boom. New systems are rapidly emerging. And for the first time in decades, people have options.

SPEAKER_01 10:09

That brings us to our one-minute insight. In one minute, here's what this really means the system started decentralized, shifted towards centralization over time, expanded through taxation, debt, and monetary control. And now the technology is opening the door to rebalance that power. The roar line, if there's one thing to take in from this, it's this. When you understand how the system evolved, you can decide how you participate in what comes next. This isn't about fear, this is about awareness. And awareness, that's where real power starts. Yes.

SPEAKER_00 10:51

Ha ha ha ha. That's this week's roar. If this hit for you, share it with someone who needs to hear it and make sure you're tapped in on X and other platforms where you can hear us. So you don't miss what's coming next. We've got more conversations, more clarity, and more real insight coming your way. Until next time, stay sharp, stay curious, and keep moving forward. This is your weekly roar. Thanks for being on. Take care, everybody.

SPEAKER_02 11:21

Thank you for tuning in to your weekly roar podcast. See the show notes to learn more about the topics in today's episode, and be sure to subscribe so you never miss out on the latest high impact trends and strategies shaping the future of decentralized tech.