5min chapter

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#1175 Raoul Pal On Bitcoin And The 2023 Financial Crisis

The Pomp Podcast

CHAPTER

We Are Not Prepared for Digital Crisis and Financial Warfare Domestically

I would argue that a version of financial warfare, although it wasn't fought by states, was the whole meme stocks, game stop, the Reddit crowd. These are people who came together. They were able to coordinate resources and they were basically able to affect change in the market with their view. And so we saw this kind of weaponization of retail investors with their money. That scares the hell out of me. We are not prepared for shit like this. It happens, as you said, $42 billion can disappear overnight. I mean, one of the ways it's going to play out right in the financial markets is eventually we get rid of them all.

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