Intro

🔥 *Download Raoul Pal's 5-year investing roadmap for free:* https://rvtv.io/41fVHWF. You've asked, we listened: On the latest "Journey Man," Raoul Pal welcomes back Michael Howell, CEO of CrossBorder Capital, for an analysis of the global liquidity cycle, with a breakdown of what's going on in the U.S., China, Japan, UK, France, Germany, and how it's going to affect risk assets. Has liquidity already peaked, as some think Howell has claimed? Recorded on August 28, 2025. 📣 This episode is brought to you by Figure, the platform to Earn and Borrow. Need liquidity without selling your crypto? Figure offers Crypto-Backed Loans, allowing you to borrow against your Bitcoin or Ethereum with 12-month terms and no prepayment penalties. They have the lowest rates in the industry at 8.91%, allowing you to access instant cash or buy more Bitcoin without triggering a tax event. You can always see your BTC ownership in your FM account and verify holdings in your personal BTC vault onchain. Unlock your crypto’s potential today. 👉 Visit their app to apply for a Crypto Backed Loan today https://figuremarkets.onelink.me/Plnq/2uhuytay 📣 Bitwise has been all-in on crypto since 2017 and has more than 20 crypto-based products to help investors get the access they need. Bitwise manages the world’s largest crypto index fund, one of the top Bitcoin ETFs, and one of the largest institutional Ethereum staking solutions. Bitwise has over $10 billion in assets under management and employs over 100 people in the US and Europe to manage a range of products, including ETFs, private alpha strategies, and SMAs for large investors. 👉 Check out Bitwise at https://bitwiseinvestments.com and let them know that Real Vision mentioned them. Carefully consider the extreme risks associated with crypto before investing. 📣 Stake $VET on StarGate, VeChain’s new user-friendly staking platform, to earn your share of the 5.48 billion $VTHO bonus pool being distributed to stakers through to December. To get started, stake at least 10,000 $VET, mint a Delegator NFT, and collect $VTHO rewards every seven days. The earlier you stake, the more you stand to earn, so visit https://app.stargate.vechain.org/?utm_source=journeyman&utm_medium=youtube&utm_campaign=kol-august-2025 today to put your $VET to work.

📣 Ready to see how Square can transform your business? Visit ⁠square.com/go/realvision⁠ to learn more! #squarepod

📣 Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for.

👉  Get started with Plus500 for as little as $100 at ⁠https://us.plus500.com⁠. Trading in futures involves the risk of loss. Unlock the potential to showcase your brand to our global audience. Contact us at partnerships@realvision.com for advertising inquiries. 🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com 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/ My other work: Real Vision: https://rvtv.io/3LHYIaH Global Macro Investor: https://globalmacroinvestor.com The Exponentialist: https://realvision.com/thefuture EXPAAM: https://expaam.com Connect with Real Vision™: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Get a FREE membership: https://rvtv.io/3Y4t5Pw Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf

Learn more about your ad choices. Visit podcastchoices.com/adchoices