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: https://youtu.be/qL2LfVRl3J0?t=315
Full show notes: https://bitcoinandmarkets.com/e220/
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: