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On Today's Episode:
What in the crypto is actually going on? In the middle of the financial crisis we're experiencing, people are acting out of desperation, and emotions are possibly leading the charge.
Raoul Pal is back to help us understand what is the current state of crypto, why FTX has been using customer money and more importantly, why is this not as unusual as you may think. Raoul's insights as a macro investor, former hedge fund manager that retired at 36, and co-founder of Real Vision, a financial media company, takes us to a high level view to string together how world history and demographics have brought us to this point.
The key takeaway here for you is that, 'the game of money is a game of psychology.' Tom Bilyeu Once you understand that this is a game, we need to know the players, the rules. The ultimate indicator of how you play this game, as Raoul explains it, is the future version of yourself and what that version wants. It indicates your debts, your risk tolerance, and what your next financial move will be following this interview.
Whatever you do, do so from a place of minimizing your emotional response and play the game well.
Mentioned in this episode:
Homo Deus by Yuval Noah Hariri: https://www.amazon.com/Homo-Deus-Brief-History-Tomorrow/dp/0062464310
SHOW NOTES:
0:00 | What In The Crypto Is Going On?
14:02 | The Emotional Cycle of Money
23:46 | Inflation Vs. Debasing Currency
36:37 | Why Velocity of Money Is Slow
46:54 | Do We Need Central Banks?
56:34 | Future Economies with Tech
1:16:42 | Can Debt Stimulus Solve This?
QUOTES:
'Leverage and crypto, don't go together.' [1:57]
'Investments are just a manifestation of your future self.' [16:05]
'It really is a psychological game, and it's a long-term game.' [19:20]
'Quantitative easing is a way of saying we're going to debase the money.' [22:37]
'Demographics are deflationary and inflationary depending where you are in the demographic cycle.' [27:01]
'Babyboomers, the same people who caused the inflation are causing the deflation, [...] because they're holding money.' [40:56]
'Nobody wants the debasement of currency, but if you don't, what is the outcome?' [47:43]
'There's a lot of structural issues here, and I don't think you can do this without government, and I don't think you can do it without central banks.' [49:27]
'Nobody's ever managed to get the business cycle flat, it's a degree of what volatility you'll accept.' [56:22]
Follow Raoul Paul:
Website: https://www.realvision.com/
Twitter: https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
YouTube: https://www.youtube.com/channel/UCBH5VZE_Y4F3CMcPIzPEB5A
