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Bitcoin & Markets

Nov 2, 2020

Today, I listen along with you to Raoul Pal's recent video The Bitcoin Life Raft and react to it. He is a macro forecaster and concentrates on bitcoin and Central Bank Digital Currencies. I disagree to many nuanced points and I think it is a great learning experience for the audience to step through these ideas together.

Original video:

Full show notes:

5:15 - Introducing the problems faced by the USD system

I agree there's problems, but not the things he lays out. I believe his arguments show he has not considered monetary convergence and has a relatively mainstream understanding of the current system.

9:50 - CBDC

Raoul claims the CBDCs are a way to address the problems he has laid out. Again, I disagree that the problems are what he says, and I also disagree that CBDCs can do what he thinks.

The three big problems he lays out:

16:25 - Cash, freedom, and an agreement of nations (Bretton Woods 2.0)

23:15 END