Episode Details

Clay from Bullet Vault joins hosts Kaylee and John on Gun Owners of America's State of the Second to walk through the idea behind his company: an alternative currency and payment system built on bullets, recorded on the blockchain. Clay's argument is that an American-made, full metal jacket, consistent grain weight 9mm bullet fits the textbook definition of money. In his words it is a precious metal with functional utility that is more transferable than a bar of gold. Through Bullet Vault, a customer buys a real physical bullet, takes title to it, and the company stores it in secure warehouses that already carry the FFL and SOT requirements from its gun businesses. The owner can transfer it to a friend like a Venmo, ship it to themselves to shoot, trade it into other calibers, or sell it back to the network for liquidity. Clay says the model solves the liquidity problem that has always limited ammo as a store of value.

The conversation traces why Clay built it. He and his partners own Lone Wolf and Primary Weapon Systems, and roughly a week after closing on Lone Wolf they lost their credit card processing because their processor was backed by Bank of America, which runs periodic sweeps and drops any business near a guns or ammo SIC code. That experience, which he ties to Operation Choke Point, convinced him the payments chokehold is the real threat to the industry. He built Bullet Vault on the blockchain so it would not depend on the handful of transaction processors that made the squeeze possible, and he built it compliant with know your customer laws from the very first transaction so a future administration could not shut it down as money laundering.

Around the product talk, Clay and the hosts dig into policy and culture. Clay is hopeful but cautious about the reconciliation bill zeroing out the $200 suppressor tax stamp, and he is frustrated that Congress will not fully repeal the NFA while Republicans hold the White House and both chambers. Kaylee details GOA's two letters, one from industry manufacturers and one from influencers, pushing to remove suppressors and short barrel rifles from the NFA, plus the push to add the SHORT Act in the Senate. They also discuss Gen Z trending libertarian after COVID, GOA's 2A Defenders college program and its Chambered for Success career segment, and the shared problem of being blocked on social platforms. Clay tells his own story, from Stanford swimmer to Navy service to tech to running for governor of Georgia, and ends by pointing listeners to bulletvault.com.

Questions this episode answers

What is Bullet Vault and how does buying a bullet through it actually work?

Bullet Vault is an alternative currency and payment system built on real physical bullets and recorded on the blockchain. A customer buys an actual bullet and takes title to it, the company stores it in secure FFL- and SOT-licensed warehouses, and the owner can transfer it to a friend like a Venmo, ship it to themselves to shoot, trade it into other calibers, or sell it back to the network for liquidity.

Why does Clay argue that a 9mm bullet meets the economic definition of money?

Clay argues that an American-made, full metal jacket, consistent grain weight 9mm bullet fits the textbook definition of money. He frames it as a precious metal with functional utility that is more transferable than a bar of gold.

Why did Clay build Bullet Vault on the blockchain instead of relying on transaction processors?

Clay built Bullet Vault on the blockchain so it would not depend on the handful of transaction processors that make the payments squeeze on the firearms industry possible. He sees that processor chokehold, not the guns themselves, as the real threat.

What happened with Lone Wolf's credit card processing, and how does it connect to Operation Choke Point?

About a week after Clay and his partners closed on Lone Wolf, they lost their credit