Raoul Pal: The Journey Man Real Vision Podcast Network

🔥 Learn about Kraken OTC’s private, personalized trading services at realvision.com/krakenOTC2024

🔥 Get FREE ACCESS to Real Vision https://rvtv.io/3Y4t5Pw.

Join me, Raoul Pal on the most chaotic show in macro and crypto- It's time for another Drinks with Raoul LIVE AMA session. We'll talk about wine, culture, sophisticated snacks, crypto, the banana zone, the Everything Code, lifestyle chips, and where we are today in the big-picture outlook.

Remember, if you are watching this here on YouTube, I won't answer your questions. Go to Real Vision and sign up for FREE to get your questions answered and take advantage of the amazing macro and crypto tools plus our network of like-minded people all over the globe.

Raoul will ONLY answer questions from the Real Vision platform, so sign up for FREE and join the conversation with the fabulous RV network.

🔥 This episode is sponsored by Kraken OTC. Get 24/7 access to instant, large-lot pricing and execution for your next large crypto trade. Learn about Kraken OTC’s private, personalized trading services at realvision.com/krakenOTC2024

Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/
Newsletter: https://raoulpal.substack.com

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
EXPAAM: https://expaam.com

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices

🔥 Learn about Kraken OTC’s private, personalized trading services at realvision.com/krakenOTC2024

Join me, Raoul Pal on a fascinating chat with my friends at Blockworks about Crypto Summer, the Banana Zone, the Liquidity Cycle, and more.

In this insightful episode of "On The Margin," I join Felix Jauvin to delve into the transition from crypto spring to crypto summer. I also explain how the interplay of disinflationary forces and slow-growing economies set the stage for a macro Utopia, driving central banks and governments to inject liquidity into the markets. This is the beginning of what I like to call the "banana zone," where things start to get really interesting.

🔗 Subscribe to the Blockworks YouTube channel: https://www.youtube.com/@BlockworksHQ

🔗 Check out the On The Margin Newsletter: https://blockworks.co/newsletter/

📢 This episode is sponsored by Kraken OTC. Get 24/7 access to instant, large-lot pricing and execution for your next large crypto trade. Learn about Kraken OTC’s private, personalized trading services at realvision.com/krakenOTC2024

(02:44) - Introduction
(03:37) - Global Liquidity Cycle
(04:06) - Election Cycle Impact
(04:40) - Macro Utopia
(05:45) - Crypto Summer Pattern
(06:17) - Liquidity Factors
(06:45) - Fed's Role
(07:14) - ISM and Liquidity
(07:41) - Refinancing Cycles
(08:17) - Fed's Lagging Indicators
(08:45) - Unemployment Lag
(09:13) - Fed's Timing
(09:36) - Strategic Cuts
(10:38) - Debt Refinancing Cycle
(11:02) - Global Dollar Shortage
(11:34) - Janet Yellen's Role
(12:09) - Chinese Debt
(13:35) - Market Predictions
(14:05) - Strong Dollar Impact
(15:43) - Yield Curve Control
(16:16) - Basel 4 Regulations
(16:46) - Government Bonds
(17:13) - Exponential Age Investments
(18:05) - Crypto Portfolio
(18:34) - Macro Trade Struggles
(19:05) - Liquidity Cycle
(20:06) - Technology Correlation
(20:48) - Asset Performance
(21:21) - Optimal Trade Strategy
(21:47) - Debt Monetization
(22:08) - Economic Growth Drivers
(22:41) - Population and Productivity
(23:13) - Technology's Role
(23:49) - Energy Costs
(24:27) - Green Energy Investments
(25:02) - Post-WWII Comparison
(26:08) - AI and Robots
(27:10) - Young Generation Challenges
(27:35) - Housing Market Issues
(28:10) - Wage Growth Stagnation
(28:42) - Asset Scarcity
(29:31) - Crypto Investment Strategy
(30:27) - Global Utility of Blockchain
(30:59) - Market Cap Growth
(31:33) - Investment Opportunities
(32:03) - Risk Management
(33:00) - Long-Term Strategy
(33:29) - Personal Portfolio
(33:57) - Time Horizons
(34:32) - Investing Psychology
(35:07) - Market Cycles
(35:39) - Missed Trades
(36:06) - ETF Impact
(36:42) - Market Volatility
(37:53) - Technology and NASDAQ
(38:52) - Sentiment Challenges
(39:23) - Adoption of Blockchain
(39:46) - Bitcoin's Role
(40:16) - Risk Curve
(40:49) - Market Trends
(41:20) - Banana Zone Explained
(41:53) - Market Patterns
(42:19) - Technology Integration
(42:49) - Market Breadth
(43:22) - Simplified Investing
(43:57) - Digital Future
(44:54) - Economic Models
(45:51) - Investing Mindset
(46:19) - Practical Applications
(46:54) - Economic Lectures
(47:24) - Simplifying Analysis
(48:23) - Embracing Market Cycles
(48:52) - Opportunity in Declines
(49:26) - Long-Term View
(50:19) - Political Uncertainty
(50:42) - Institutional Challenges
(51:10) - Technology Regulation
(51:50) - Rise of Populism
(55:32) - Final Thoughts

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/
Newsletter: https://raoulpal.substack.com

Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
EXPAAM: https://expaam.com

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices

Join Raoul Pal as he sits down with Balaji Srinivasan in this highly anticipated re-release of their epic conversation from August 2022. Over two and half hours of deep, thought-provoking discussion, Raoul and Balaji explore the future of nation-states, the transformative power of the internet, the metaverse, and the evolving world of cryptocurrency. This Real Vision classic is a must-listen, offering unparalleled insights into the rise of network states and the inevitable shift towards globalized communities united by shared missions and digital currencies. Prepare to expand your mind and reshape your understanding of the future. Tune in for a journey into the next frontier of human organization.

🔥 This episode is sponsored by Kraken OTC. Get 24/7 access to instant, large-lot pricing and execution for your next large crypto trade. Learn about Kraken OTC’s private, personalized trading services at realvision.com/krakenOTC2024

00:00 - Sponsor: Kraken OTC
01:00 - Introduction
01:36 - Network State Concept by Balaji Srinivasan
06:20 - Regulatory Challenges
10:29 - Digital Identity & Authentication
15:25 - Innovation and Life Extension Technologies
20:10 - Harmonization Impact Globally
25:37 - FDA vs. TSA Comparison
31:14 - Crypto Enabling New Zones
37:26 - Digital Frontier in 1991
43:34 - Cloud Continent Rise
49:23 - Digital Communities & Network Effects
54:23 - Centralization & Decentralization
1:00:09 - English-Speaking Internet Future
1:07:07 - Particularist Ideologies
1:13:00 - Technology and Harmonization
1:30:01 - Currency in the 2010s
1:35:16 - German Nationalism History
1:40:28 - Robotics vs. Demographics
1:45:14 - Founders and Innovation Communities
1:50:19 - Emerging Freedom Cluster
1:56:13 - Digital Nation-States Definition
2:00:28 - Network State Principles for Real Vision
2:05:21 - Modern Voluntary Guilds
2:10:21 - Scaling Network States
2:15:50 - Decentralized Zones & High Trust Communities
2:20:46 - Quantifying Community Connections
2:27:35 - Onchain Census for Recognition
2:33:35 - Conclusion & Final Thoughts

Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/
Newsletter: https://raoulpal.substack.com

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
EXPAAM: https://expaam.com

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices

🔥 Visit www.realvision.com/token2049 for 15% off tickets, only with the code 'REALVISION’.
🔥 Get FREE ACCESS to Real Vision https://rvtv.io/3U1GFAD.

Raoul welcomes Chris Burniske, partner at the crypto VC firm Placeholder, for a wide-ranging conversation on where we're at in the macro-crypto cycle and what the future of digital assets investing looks like. They cover airdrops, liquidity factors, how to manage information flow, and so much more. Recorded on July 2, 2024.

This episode is brought to you by TOKEN2049 Singapore. Join over 20,000 attendees for the world’s largest crypto event: TOKEN2049 Singapore from 18 to 19 September.
Balaji Srinivasan, Solana’s Anatoly, Arthur Hayes, and over 250 others will hit the stage, as TOKEN2049 takes over the iconic Marina Bay Sands in Singapore.
With over 500 side events during TOKEN2049 Week, Singapore will transform into a crypto hub from 16 to 22 September, capped off by AFTER 2049, and the Formula 1 Grand Prix race weekend. Everyone will be there – this is the one event you can’t miss this year.

🔥 Visit www.realvision.com/token2049 for 15% off tickets, only with the code 'REALVISION’.

Timestamps:
00:00 - Sponsor: Token2049
00:53 - Subscribe to the channel
01:23 - Introduction
02:05 - Real Vision's Mission
02:43 - Guest Introduction: Chris Burniske
04:00 - Interview with Chris Burniske Begins
05:14 - Market Cycle Discussion
05:56 - Investment Focus on Solana
09:01 - VC Investment Dynamics
15:32 - Token Incentive Systems
16:38 - Challenges with Airdrops
19:40 - Market Structure and Valuation
22:22 - Token Dynamics and VC Roles
24:18 - Investment Strategies and Market Trends
27:47 - Future of Crypto Adoption
28:52 - Attention and Token Valuation
32:21 - Technology and Latency
33:22 - Challenges with Current Platforms
34:34 - Conviction in Crypto
37:10 - Economic Impact and Liquidity
39:12 - Investment Focus and Strategies
44:00 - Future Market Predictions
49:52 - Impact of Regulatory Environment
51:05 - Social Media Influence
55:21 - Importance of Signal and Filtering
1:00:00 - Debasement and Liquidity Cycles
1:02:18 - Business Cycle and Asset Flows
1:07:15 - Long-Term Investment Strategies
1:20:11 - Attention and Social Consensus
1:25:35 - Cultural Relevance of NFTs
1:33:08 - Conclusion


Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/
Newsletter: https://raoulpal.substack.com

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
EXPAAM: https://expaam.com

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices

🔥 Visit www.realvision.com/token2049 for 15% off tickets, only with the code 'REALVISION'.
🔥 Get FREE ACCESS to Real Vision https://rvtv.io/3U1GFAD.
It's time for a liquidity masterclass with Michael Howell. Raoul's Everything Code thesis suggests that liquidity is the biggest driver of asset prices across both macro and crypto. Today for all viewers, he welcomes the industry's foremost liquidity expert Michael Howell, founder and CEO of CrossBorder Capital, where global money flows are headed, how this impacts markets, and whether it could push us into the next "Banana Zone." Recorded on June 24, 2024.
This episode is brought to you by TOKEN2049 Singapore. Join over 20,000 attendees for the world's largest crypto event: TOKEN2049 Singapore from 18 to 19 September. Balaji Srinivasan, Solana's Anatoly, Arthur Hayes, and over 250 others will hit the stage, as TOKEN2049 takes over the iconic Marina Bay Sands in Singapore. With over 500 side events during TOKEN2049 Week, Singapore will transform into a crypto hub from 16 to 22 September, capped off by AFTER 2049, and the Formula 1 Grand Prix race weekend. Everyone will be there – this is the one event you can't miss this year.
🔥 Visit www.realvision.com/token2049 for 15% off tickets, only with the code 'REALVISION'.
Timestamps:
00:00 - Sponsor: Token2049 event in Singapore
00:51 - Importance of subscribing and engaging with the channel
01:19 - Raoul Pal introduces his show "The Journeyman"
01:52 - Overview of Raoul Pal's "Everything Code" thesis
02:26 - Explanation of the debt refi cycle and liquidity's role
03:01 - Discussion with Mike Howell on liquidity
03:38 - Mike Howell's background and framework on liquidity
05:17 - Evolution of global liquidity concept
07:27 - Current liquidity frameworks and key metrics
10:39 - Dominance of liquidity in markets since the mid-2000s
12:13 - Correlation between global liquidity and market performance
15:11 - Importance of term premium and its impact on bond markets
17:14 - Liquidity's effect on P/E ratios and market dynamics
18:17 - Central banks' role in maintaining liquidity and managing debt
21:22 - Differentiating between monetary inflation and deflation crises
23:22 - The significance of debt refinancing in financial crises
25:38 - Various sources of liquidity in the US
27:39 - Treasury General Account and its impact on liquidity
28:42 - Discussion on the dollar milkshake theory and dollar strength
31:45 - China's role and challenges in the global liquidity landscape
33:52 - Janet Yellen's strategies to add liquidity
36:04 - Potential impact of Fannie Mae's changes on liquidity
39:28 - Challenges faced by China's economy and the need for liquidity
41:30 - Basel 4 and its implications for banks and bond markets
43:36 - Europe's green energy transition and its impact on liquidity
44:32 - Potential risks and opportunities in the French banking sector
45:00 - Likelihood of central banks using their balance sheets
46:38 - Forecast for the liquidity cycle in the next few years
50:44 - Prospects for risk assets in a sluggish economy
51:20 - Expected peak of the liquidity cycle and underlying trends
56:03 - Historical parallels with post-World War II debt cycles
57:01 - Necessity of liquidity for economic stability and growth
59:09 - Central banks' understanding of the global debt situation
1:00:05 - Importance of monitoring liquidity and potential future trends

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/
Newsletter: https://raoulpal.substack.com

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
EXPAAM: https://expaam.com

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices

🔥 Visit www.realvision.com/token2049 for 15% off tickets, only with the code 'REALVISION'.
🔥 Get FREE ACCESS to Real Vision https://rvtv.io/3MMeRfQ.
Raoul and Julien are back to answer your questions after their much-lauded masterclass on the Everything Code. So, get your questions ready and open the RV notes section - this is one you won't want to miss LIVE.
On our signature AMAs, Raoul ONLY answers questions from the Real Vision platform, so sign up for FREE and join the conversation over there https://rvtv.io/3MMeRfQ
This episode is brought to you by TOKEN2049 Singapore. Join over 20,000 attendees for the world's largest crypto event: TOKEN2049 Singapore on 18 to 19 September. Balaji Srinivasan, Solana's Anatoly, Arthur Hayes, and over 250 others will hit the stage, as TOKEN2049 takes over the iconic Marina Bay Sands in Singapore. With over 500 side events during TOKEN2049 Week, Singapore will transform into a crypto hub from 16 to 22 September, capped off by AFTER 2049, and the Formula 1 Grand Prix race weekend. Everyone will be there – this is the one event you can't miss this year.
Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries.
Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/
Newsletter: https://raoulpal.substack.com

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
EXPAAM: https://expaam.com

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices