Raoul Pal: The Journey Man URGENT: Raoul Pal's Macro Thesis UPDATE
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Dec 18, 2025 Delve into a captivating discussion as Raoul Pal breaks down his macro seminar from Breakpoint 2026. He explores the 'everything code,' linking currency debasement to economic challenges. Learn how demographics and debt shape fiscal pressures globally. Raoul emphasizes liquidity's role in driving markets, forecasting economic strengthening and its implications for crypto. Discover the intriguing correlations between Bitcoin and market cycles, and why 2026 signifies a pivotal moment for crypto amidst volatility. Don't miss his insights on wealth creation potential by 2034!
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Demographics And Debt Explain Slow Growth
- Demographics plus debt drive long-term GDP decline and policy responses.
- Raoul Pal calls currency debasement the primary macro impulse behind asset returns.
Interest Servicing Drives Liquidity Needs
- Interest payments are being monetized, and liquidity follows those interest flows.
- Pal estimates ~$7â8T of liquidity printing may be needed to cover interest payments over the coming 12 months.
Debt Maturities Create A Predictable Cycle
- A consistent four-year business cycle emerged after 2008 due to debt refinancing patterns.
- Raoul links asset cycles (including Bitcoin halving) to debt maturity and liquidity timing.