Raoul Pal: The Journey Man

Raoul Pal and GMI's head of macro research Julien Bittel, CFA, open their biweekly "Shooting the Shit" episode, which is normally exclusive to Real Vision Alpha members and above, to everyone. It's a sneak peek into how the guys brainstorm, interpret charts and look for opportunities through the macro lens. In this episode, they break down the forces driving markets right now, from global liquidity and crypto regulation to AI, compute, energy, stablecoins, and they explain why the old business cycle framework may be losing power as the exponential age accelerates.

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Timestamps:
0:00 - Introduction: The Exponential Age & Universal Code Thesis
1:40 - Trump, AI & Crypto: The Political Acceleration
4:07 - The US-China Grand Bargain: Trade, Taiwan & Nvidia
6:16 - Are We Mid-Cycle? The Case for a Supercycle
9:09 - Inflation, Compute Demand & Anthropic's Explosive Growth
11:37 - Crypto & Equity Chart Rundown (BTC, ETH, Circle, Tesla, Solar)
21:51 - Dollar, Rates & Copper: What to Watch
24:35 - Global Liquidity vs. Bitcoin: The Dominant Framework
30:02 - Portfolio Performance & Why You Shouldn't Trade Crypto
34:05 - The Buildout Has Only Begun: AI, Robots & the CapEx Supercycle
37:26 - Compute & Energy: The New GDP Formula
39:14 - The Economic Singularity & Why Old Macro Frameworks Are Broken
44:44 - Closing: Adapt Your Framework or Get Left Behind

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Raoul welcomes the artist, Coldie, for a deep dive into Coldie's career and how he came to help pioneer the future of AI, interactive, and on-chain art. Recorded May 4, 2026.

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.

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Raoul Pal presents a new framework for understanding crypto, AI, and the future of economic coordination. Recorded live at Sui Miami, Raoul explains his “Everything Code” thesis, how networks, intelligence, energy, and exponential technologies are converging to reshape blockchains, markets, and the global economy.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.
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Raoul welcomes Yoni Assia, Founder and CEO of eToro, explore how AI agents, tokenization, and crypto rails could reshape global markets into 24/7, machine-driven systems. Raoul and Yoni also argue that finance is moving toward a future where AI doesn’t just assist investors — it trades, builds, learns, and forms capital on its own. Recorded April 30, 2026.

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.
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Raoul welcomes back Chief Crypto Analyst, Jamie Coutts, to dig into the macro big picture before discussing how to value L1s, the tokenomics of AI agents and the VC flight from crypto to AI. They also dig into the knock-on effects of the Iran War and highlight other opportunities emerging in crypto and AI. Recorded April 29, 2026.

This May 5–7, join Real Vision CEO Raoul Pal at Consensus Miami with 20,000+ decision-makers from the White House, Wall Street, and Web3. From crypto at scale to institutional integration and agentic commerce, the conversations shaping what’s next happen here. Save 20% with code RAOUL at https://consensus.coindesk.com/register/?promo=RAOUL&utm_campaign=RealVision_Newsletter&utm_content=c26&utm_medium=marketing&utm_source=RealVision&utm_term=paid&utm_id=c26

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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.

et started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss.
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