Nicholas Anthony (Research Fellow at the Cato Institute's Center for Monetary and Financial Alternatives) joins Host Ron Steslow to examine how the stablecoin legislation moving through Congress is quietly remaking the financial system and expanding the surveillance state in the process.

They dig into the Bank Secrecy Act and the third-party doctrine, the legal architecture that lets the government access Americans' financial records without a warrant.

Next, they examine how AI is turning mass financial surveillance from aspiration into operational reality, and how political designations can be weaponized against ordinary Americans through their banks.

Then they unpack the contradictions in the Trump administration's posture—anti-CBDC in name, enthusiastically pro-stablecoin in practice—and why programmable private money is functionally a central bank digital currency at arm's length.

Finally, they discuss the prosecutions of open-source developers behind privacy tools like Tornado Cash and Samurai Wallet, and what's at stake if the precedent that code is protected speech gets tested in the Supreme Court.

In Politicology+, they unpack a 2021 federal mandate that will require every new car sold in America to passively monitor its driver for "impairment" by next year.

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