Daily Briefing – September 11, 2020

Published on
September 11th, 2020
Duration
49 minutes


Daily Briefing – September 11, 2020

Daily Briefing ·
Featuring Jack Farley, Ash Bennington, and Raoul Pal

Published on: September 11th, 2020 • Duration: 49 minutes

Real Vision CEO Raoul Pal is joined by senior editor Ash Bennington to reflect on the latest financial newsflow as well as Real Vision's new projects. After briefly discussing oil's recent price action of oil, Raoul and Ash break down how the Fed's action is affecting different segments of the credit market, and they also weigh in on Jeffrey Gundlach's recent comments that default rates on high-yield credit could double. Raoul then explains why the importance of demographics means that inflation is not always purely a monetary phenomenon. Raoul and Ash then discuss Real Vision Creative Studios, the forthcoming Real Vision crypto channel, as well as "The Exchange," Real Vision's brand new platform for members to share knowledge with each other. In the intro, Ash speaks to editor Jack Farley about Nikola, Softbank, as well as a week of ample credit issuance.

Comments

Transcript

  • jt
    john t.
    15 September 2020 @ 17:52
    stopping kissing your own asses.
  • jt
    john t.
    15 September 2020 @ 17:49
    if the boss isn't pissing away 1000s on flights then the staff better have got some raises!
  • ZY
    ZHENG Y.
    15 September 2020 @ 00:56
    The option thing is like talking about me, i start option trading on march 2020, only write put to buy stock, collect premium... what you think about the risk only write put to buy stock? 1. The stock fall a lot, when option executed. 2. The premium cannot cover the fall of the stock. Any other risk? In case i miss out...
    • TR
      Thomas R.
      15 September 2020 @ 13:05
      Learn all about option trading for free at www.tastytrade.com
  • AK
    Andreas K.
    14 September 2020 @ 19:02
    Alligning leaving the gold standard and baby boomers started spending is brilliant!
  • JJ
    John J.
    14 September 2020 @ 17:44
    Very little content. Just advertising for RV. Where is the Daily Briefing?
  • SB
    Stewart B.
    14 September 2020 @ 10:44
    I thought that Raoul's point about the 1-2 st dev space was insightful. It is so true that most mainstream groups, eg investment banks, tend to expect small variations from where we are at, eg marking up Tesla's projected stock price by 10% every time their old price target was out of date, vs those expecting end of the world scenarios, eg hyperinflation. It is the middle spot where money is made.
  • RK
    Robert K.
    13 September 2020 @ 15:13
    Great conversation! How do we bring these opportunities and this education to young people in less affluent communities? Can Real Vision be a tool to democratize financial opportunity and education for our youth?
    • SW
      Sarah W.
      14 September 2020 @ 07:00
      This. It’s a crime that financial education is not on the national curriculum in the UK. It should be mandatory. If Real Vision was smart, they’d go to the schools/local authorities directly.
  • DF
    David F.
    13 September 2020 @ 22:31
    Raoul's advice in the last minute might have saved us all a lot of money.
  • RA
    Ross A.
    12 September 2020 @ 05:06
    Hi All, I have an issue with comments along the lines of "Women/Baby Boomers entering the workforce and then be able to buy stuff caused inflation". My simple logic is; For a person (group of people) to receive a pay cheque (check) they must of produced something for the company that pays them. Therefore the amount of stuff (goods and or services) to buy has to go up by at least the amount of money they are paid. So sure they increase demand but supply has gone up by (at least) the same amount. I hear you shout, "But what happens if they borrow money to buy stuff before they have produced the equivalent stuff?" Again "simples": The person that has lent them the money has gone without consuming. So again the Production / Consumption equation is in balance. So inflation is always caused by either money printing or fractional reserve banking. Go on, shoot me down peeps!
    • WG
      Wade G.
      12 September 2020 @ 07:02
      You state, "The person that has lent them the money has gone without consuming. So again the Production / Consumption equation is in balance", yet follow it with: "so inflation is always caused by... fractional reserve banking". The first statement is absolutely false. The second is true. The necessary consequence of fractional reserve lending is that banks issuing loans are not intermediating one consumers' excess funds, providing it to another. They are in fact, loaning money into existence. There's no "other" consumer who's gone without consuming. So u conclude an increase in demographics in a fractional reserve banking system can't impact inflation. Seems like a non-sequitur to me. I think demographics trending lower now are a material deflationary force in the economy... basically the reverse of the impact u deny above. But don't worry, you're in good company. As far as I can tell, Neo-classical economics, certainly Keynesians, make the same assumption by ignoring the banking system, basically assuming it away with your first remark.
    • MB
      Matt B.
      12 September 2020 @ 08:56
      I hear ya. But housing is now priced for two incomes per household. Two people per household going to work doesn't give them a house twice as big. In fact, house-prices to family incomes (not per capita income) has risen also - so two people per household can now afford a smaller house than before.
    • RA
      Ross A.
      12 September 2020 @ 09:04
      Sorry Wade, i didn't write the above very clearly. I 100% agree with you. What i meant in the first part was in the absence of a fractional reserve system; a saver went with out to allow a borrower to consumer so that the demand supply was always in balance. I was trying to 'roll out' a simple economy of production and consumption before 'financialisation', to show inflation was impossible with out some sort of magic money. Again getting back to disagreeing with the comment in the video that Boomers and / or Women entering the work force caused inflation. Double the workforce = Double both production and consumption.
    • RA
      Ross A.
      12 September 2020 @ 09:09
      So Matt B; I am trying to prove this bit "housing is now priced for two incomes per household" wrong/illogical. Person 2 earns an income because they have created some goods and or services and in aggregate the increase in income must be used to consume the increased good and services that they have produced. Therefore there is no extra money to push up house prices..... Outside of the magic money created by central banks and the banking system.
    • WG
      Wade G.
      12 September 2020 @ 14:06
      Got it Ross, we're in agreement! Sort of stunning the nonsense and theft we put up with to permit bankers to continue to exercise their unearned privilege.
    • MB
      Matt B.
      13 September 2020 @ 10:37
      Ross A. - I hear your theoretical argument. But look at some charts of prices vs household income - link below. I rationlise this through at least three effects: 1. more income per household 2. 40-year bond bull market (declining rates) - and house-prices have bond-like features 3. globalisation of real estate investing - the world's money (whether institutional or flight-capital) wants western property & has easy access (crudely - just look it up online, email a realtor & send money electronically - it's not actually quite that simple but you get the gist) http://www.google.com/search?q=real+estate+prices+versus+household+income+ratio&source=lnms&tbm=isch
    • RS
      Roger S.
      13 September 2020 @ 21:34
      As a person who entered the financial industry as a CPA In 1966 I lived through the inflation of the 1970's. In the 1960's the US government greatly expanded federal spending for both LBJ's War on Poverty and the Vietnam war. Neither were financed by raising taxes so Federal debt grew dramatically. He stated at the time that we could have both "guns and butter" without raising taxes. That worried the rest of the world's governments as they worried about debasement of the reserve currency the dollar. The Fed also ran a loose policy with interest rate kept lower than they should have been. The foreign governments then began to turn in their dollars for gold. This caused Nixon to "temporarily" close the gold window and the dollar was no longer convertible into gold. The only thing that halted the inflation was Fed chairman Volcker raising the Fed Funds rate to 18% in the early 1980's. Demographics and women entering the work force were also contributing factors.
  • Md
    Matthew d.
    12 September 2020 @ 04:14
    Cannot wait to dig my teeth into the Crypto tier!
    • LK
      Lalith K.
      12 September 2020 @ 11:54
      I look forward to cogent explanations on the following: 1.) What's the difference between a private blockchain and a database? 2.) What's the point of for non-natively digital assets (e.g. supply chain), when a trusted party has to record the information. I hope I'm wrong, but I fear that this venture is going to attract a lot of scammers.
    • CH
      Crag H.
      13 September 2020 @ 21:01
      @Lalith: You hit it right on the head. 1.) The difference is that a SQL database would be like a 1000% more efficient. Blockchains are made to synchronize data among untrusted parties. That's the only thing they're good for. 2.) Mixing the physical world and the digital world is a hopeless task. You always end up having to trust someone. And because of this you don't really need a blockchain. You're not wrong.
  • DA
    David A.
    13 September 2020 @ 20:28
    Yes, it's helpful to explain to us how Real Vision is evolving but this was too much.
  • MB
    Michael B.
    13 September 2020 @ 18:21
    How big is the High Yield corporate market?...huge! Why is it so hard to no just transact in the space but find out basic stuff like price? Try to google new issuance calendar, you get crap back. The dealer community has blocked access to individuals but WHY? Thoughts?
  • LO
    Luke O.
    13 September 2020 @ 16:35
    How can there be inflation if wages don't go up? With massive unemployment on the horizon, loose labor markets, for very large section of the economy wages won't be going up. Its physically impossible for them to pay more for regular everyday consumables. Asset prices I think will continue to inflate with central bank intervention, desperation for yields and currency depreciation.
  • DR
    Derrick R.
    12 September 2020 @ 19:21
    Raoul I think you may want to chat with Ryan Selkis of Messari.io about the crypto tier idea.. what he's got is pretty awesome and he's super passionate. I'm sure you would get some great ideas or maybe even decide to partner up on this.
    • GB
      Graeme B.
      12 September 2020 @ 22:11
      Second Ryan Selkis. Always excellent, unbiased and keeps up with the extreme pace of change.
    • RP
      Raoul P. | Founder
      13 September 2020 @ 10:41
      Will do. Thanks.
  • DS
    David S.
    12 September 2020 @ 19:27
    Congratulations on creating such a dynamic company with such an enthusiastic team. This takes constant energy and focus by all. Keep up the great work. DLS
    • RP
      Raoul P. | Founder
      13 September 2020 @ 10:40
      Thanks DLS!
  • RS
    Rajat S.
    13 September 2020 @ 02:20
    Is Exchange the new and improved twitter ?
    • RP
      Raoul P. | Founder
      13 September 2020 @ 10:40
      Thats the idea... long form, in depth, meaningful
  • SC
    Sejong C.
    13 September 2020 @ 03:27
    High-end prices of various goods; this might mean that investing in archeological artifacts or art might be a good idea.
  • BO
    Bob O.
    12 September 2020 @ 22:47
    Outstanding!
  • MT
    Mark T.
    12 September 2020 @ 18:59
    Love you Jack! Constructive feedback, try not using so many filler words.. ah, um. It's okay to pause.
    • JF
      Jack F. | Real Vision
      12 September 2020 @ 20:02
      Noted, thank you
    • AA
      Andrew A.
      12 September 2020 @ 21:17
      He was fine tbh. Stop making a big deal out of nothing
  • VS
    Ville S.
    12 September 2020 @ 15:24
    For some reason i had always assumed that Ash is the tallest in the gang and that Raoul is the shortest... Very surprising! 😂
    • AB
      Ash B. | Real Vision
      12 September 2020 @ 19:54
      I’m 5’10” — and if you saw a photo of me next to the rest of the team I would look like I was standing in a hole. Or like the coach of a basketball team. Max is also about 6’3”. And, talking of basketball, Tyler actually played Div I B-Ball. They’re all giant humans...
  • OW
    Oliver W.
    12 September 2020 @ 17:11
    This time it was a bit too much marketing. More macro again would be great.
    • DW
      Dean W.
      12 September 2020 @ 18:21
      Agreed. 10% Daily briefing. 90% infomercial.
  • DO
    DIOGO O.
    12 September 2020 @ 17:59
    PLease! Bring Russel Napier for The interview! And 2nd time Richard Werner!!
  • DO
    DIOGO O.
    12 September 2020 @ 17:58
    Cheers Guys!
  • DT
    David T.
    11 September 2020 @ 23:13
    It was great up until digital tulips. ;)
    • Hv
      Hannah v.
      12 September 2020 @ 17:57
      That’s a great name for a band.. “The Digital Tulips”
  • JH
    Jesse H.
    12 September 2020 @ 17:13
    Appreciate the passion...and the wisdom shared. I love The Exchange, and have only been on it for a day so far. FinTwit w/o the bullsh*t. Nicely done. Great to get confirmation here from Raoul that my "macro instincts" are basically correct -- I feel like we all need to be in "wait and see" mode right now. A very apt analogy, I believe, is the Phase Transition of water from a liquid to a vapour at 100 deg C. We have almost reached boiling point, and I reckon something big (or a series of big changes, rather) is in the works...and nobody has any idea how to trade right now. The "calm before the storm," I reckon. It pays to be patient, and in Raoul's words, "wait for the fat pitch."
    • JH
      Jesse H.
      12 September 2020 @ 17:15
      Crypto, and more specifically CBDCs, will likely be part of this Phase Transition.
  • RT
    ROBERT T.
    12 September 2020 @ 15:46
    I was shocked Neil Howe and Forth Turning was not even mentioned with so much talk of demographics’ impact on macro.
    • RP
      Raoul P. | Founder
      12 September 2020 @ 16:43
      Im talking to him next week as part of this series...
  • JD
    John D.
    12 September 2020 @ 15:48
    Re the crypto tier, I'm fascinated with the tokenization of individual assets. I think it has the opportunity to replace equity markets in the (far) future. Such a cleaner funding structure.
  • JW
    Jim W.
    12 September 2020 @ 14:55
    https://threadreaderapp.com/thread/1212892528401367042.html is the tweetstorm Raoul references. It's one of my all-time fintwit favorites.
  • JW
    Jim W.
    12 September 2020 @ 14:51
    (I was going to post this on the Exchange with a bit more detail, but this episode isn't up yet) Exceptional DB folks. I listened to it twice. Raoul's statement along the lines of "perhaps the inflation of the 70s was a onetime event" is one worth considering. Further, the demographic slice per generation or age cohort is [dirty cuss word] brilliant. I had never really considered that, and I'd even add to it by saying the millennials not only have low earnings power vs their cohort side but they also carry a fair amount of debt, while owning nothing tangible, because everything is subscription, where at least Gen Xers and Boomers owned their own music. And job losses, wage cuts et al will likely be deflationary. When we look at the longer term (3-5 year) global picture of reshoring, though, it's not clear to me how inflationary that will be in countries where populations are flat or shrinking. Will additional demand drive salary growth? If so, then with salary growth I believe we find inflation, but not before.
  • MB
    Marget B.
    12 September 2020 @ 13:00
    I thoughts yesterday's discussion of demographics and inflation was fascinating! It made a great deal of sense. I was thinking about it a lot overnight, Raoul's argument about demographics makes so much sense, but if the increase of the money supply doesn't lead to inflation what happens to all the money? Does it just go into asset price inflation as we have seen in the last decade? Or is there some other piece I am not understanding. I would be so curious to hears others thoughts on this, if you feel like sharing. Also, inflation does at time seems to be only a monetary phenomenon in developing countries, at time, we can all think of the tinpot dictators who print their currency into oblivion. Does anyone have any thoughts they care to share about what mechanisms allow this to happen in developing countries, but not developed?
  • DP
    Duane P.
    12 September 2020 @ 03:21
    I really hope we go super deep on this crypto tier.
    • AB
      Ash B. | Real Vision
      12 September 2020 @ 04:29
      Hi, Duane. That’s the plan!
    • AB
      Alastair B.
      12 September 2020 @ 11:39
      Will the crypto tier being in place as an opt-in extra exclude crypto content on the regular tiers?
  • AB
    Alastair B.
    12 September 2020 @ 07:03
    Raoul - I’m going to take a few minutes of this video and use it to show my students why I get them all doing video editing in the AV studio at school.
    • RP
      Raoul P. | Founder
      12 September 2020 @ 11:32
      Thats amazing!
  • GJ
    Gino J.
    12 September 2020 @ 05:26
    I just want to know who are these members that vote thumbs down on these RV productions. It's not easy to produce these venues or get people to come on these platforms. You don't like what you see, get the fuck out!
    • TC
      Tor C.
      12 September 2020 @ 11:19
      Are you suggesting a thumbs up only feature? How is that usefull;)
  • CD
    Christopher D.
    11 September 2020 @ 23:18
    Raoul, I have to respectfully disagree with your comment here that “video is eating the world.” It’s software that is doing that. But in terms of RV, video has two problems. One is obvious - it quickly chews up the cell phone data plan so video costs real money unless one is at home. More fundamentally, video consumes more attention than audio, and attention has as limited a supply as bitcoin. Examples: I can’t drive with a video on; I don’t want to walk with a video on. Making it easy to consume RV’s fabulous content in audio format so it demands less bandwidth and (more importantly) allows for multi-tasking would be a real value-add. How to do this? Make an iOS RV app where audio can be downloaded at a location where there is wi-fi and then consumed without needing a network connection. I hope this comment is helpful. Your content is peerless; it’s just that the delivery format could be much better for those of us with limited bandwidth and less free attention.
    • MK
      Michael K.
      12 September 2020 @ 00:08
      I download videos as “audio” only onto my app and just listen that way. You have to trick the app to close and then pop up your audio controls to hit play so it doesn’t wreck your battery. I wish they could fix this.
    • RP
      Raoul P. | Founder
      12 September 2020 @ 00:08
      We already have that feature and have for 5 years...
    • OA
      Oliver A.
      12 September 2020 @ 00:23
      Yeah I do this all the time for long drives. Chris, your prayers have been answered.
    • CD
      Christopher D.
      12 September 2020 @ 03:10
      @Michael K. - I am missing something fundamental. After I hit the "download audio" button on the app I can't figure out how to play it. Like you said, if I bring up the iOS audio controls after downloading (not in the app) it looks like one could start playing audio because the iOS player lists "Real Vision" as what is currently being played. But the audio doesn't start. I was imagining a "play later" button for audio which would stack up a list of stored audio content. That would be dynamite.
    • MB
      Matt B.
      12 September 2020 @ 10:23
      I too haven't worked out how to get RV to play audio-only on my iOS app. I can tap on "Download Audio", but then what? If I go to my saved shows, it just tries to play the video.
  • MB
    Matt B.
    12 September 2020 @ 10:19
    "Every person now is a media star. Everybody has to have a presence on social media." Not sure about that. Unknown programmers can change the world from behind an anonymous login: Satoshi Nakomoto for example! Then there's the Anonymous hacker group and even QAnon; they have social media presences, but not as identificable individuals. The whole point is not to be personally known. Not everyone is cut out to have a public profile - and there are some how run away from the idea, such as Grigory Perelman who changed the world with his mathematics but won't ever give an interview. http://interestingengineering.com/the-mystery-of-grigori-perelman To those of an introverted bent, there are better things to do than talk.
  • Dv
    Daniel v.
    12 September 2020 @ 09:54
    Guys, can we focus on the markets instead of all the talking about the RV plans?
  • MJ
    Marius J.
    12 September 2020 @ 09:27
    Crypto tier👍🏻🎉🥂🍾😃✅🍾
  • TN
    Tim N.
    12 September 2020 @ 07:53
    Real Vision bringing the Rosetta Stone of finance for 21st century journeymen :):)
  • UJ
    Ulf J.
    12 September 2020 @ 05:29
    I am learning about economics but the inflation talks are interesting, one way I think of inflation is not always price increase it is you get less for your money. Where I live a rental apartment building built in the 40s a 2 room apartment with a kitchen was 80 m2 in the 60s it was 65 m2 nowadays it is 50m2 and very expensive even people that can afford them don't like to live there they don't like to spend that much on rents. And deflation side in this scenario is those who buy furniture to the smaller apartment are they can't make room for so much furniture so those who sell furniture get less income. People have a lot of borrowed money to pay back and if banks stop lending at this phase it is really deflationary.
  • sc
    sung c.
    12 September 2020 @ 00:39
    Does anyone else think Jack Farley looks like a more timid version of Nicholas Cage? Especially around the eyes.
    • EH
      Edward H. | Real Vision
      12 September 2020 @ 01:38
      Timid? Jack has you fooled!!
    • JF
      Jack F. | Real Vision
      12 September 2020 @ 02:11
      Haha yes Ed - my ruse was successful!
    • LW
      Lee W.
      12 September 2020 @ 04:45
      A kinder, gentler, Nicholas Cage. Cage played a character named "Jack" in "Family Man." Jack had a nightmare about leaving his life in high-flying NYC finance for managing a retail tire store (Family Man)? Jack was the "best damn tire guy in the state of New Jersey." https://www.youtube.com/watch?v=xeaumYorzuk
  • LW
    Lee W.
    12 September 2020 @ 04:32
    Hey guys - Great show today. I've been off the platform for a week or so and spent my Friday night binging RV. The DB, Boy Genius Jon Turek (sheesh!), and Keith Dicker on The Dollar Endgame. Thinking about the three shows, I'm fascinated by the thought of connecting the their content to Dicker's comment, "we've now reached the end of Keynesian economics." So, what's next? RealVision is the place for the conversation. Keep up the great work. Your enthusiasm is tremendous, and the best teachers are enthusiastic about their subjects. You're great teachers guys!
  • MB
    Marget B.
    12 September 2020 @ 01:50
    First half the video was great! The second half felt a bit like a sales pitch. Sorry! I just wanted to let Raoul know how much I appreciate him discussing really substantive issue. Keep up the great work!
    • TL
      Thomas L.
      12 September 2020 @ 04:05
      it was passion, not a sales pitch...there is a difference
  • EA
    EMRAH A.
    12 September 2020 @ 04:04
    I think The Exchange and podcasts will be bigger reasons for RV membership renewals. Great progress.
  • JT
    John T.
    12 September 2020 @ 04:03
    Raoul - I thought the whole coin space was a scam for years. You finally convinced me about a month ago, when you talked about the Turks using it to hedge against the decline of the Lira... so I started buying then, but got frustrated when my account wouldn’t work and I really wanted to get in below 11k. Finally this weekend I got most of the way I want to in bitcoin and etherium (I see them as the Gold and Silver of the space), as I bought like crazy off hours at less than $10k. I do aim to get at least 1 whole bitcoin in my portfolio, so I’m only 80% there ... the election is the event I’m looking for, I really think the uncertainty behind it will lower markets to a great buy-in and then they’ll go up afterwards no matter who wins. By the way, I’ve been a gold bug for years. I’m 40 like Tyler Neville (love that guy) and I really like the store of value trade he spoke about. I really think we’re back in 2000 where the NASDAQ is peaking as the bull market in precious metals and crypto is in its early stages. I’ll switch to raw commodities and energy when inflation seems the dominant play, but negative real interest rates should drive that “store of value” trade like crazy because the bond markets can no longer function as a stock market hedge. Best of luck, maybe you’ll like my blog at http://johnonstocks.wordpress.com announced on @johnonstocks on twitter
  • DP
    Duane P.
    12 September 2020 @ 02:37
    Jack disagreeing with someone! A rarity on RV! We need more disagreement in these conversations. Seriously.
    • DP
      Duane P.
      12 September 2020 @ 03:06
      More specifically on the RVDBs.
  • JS
    Jon S.
    12 September 2020 @ 02:54
    Last Minute has one of the greatest suggestions but one needs suffer it in its own skin and painfully to respect it first. I learnt this by anticipating too many times and then overtrading. However, best way to stop doing it for me is to have done it and suffer it. If that makes sense.
  • JS
    Jon S.
    11 September 2020 @ 22:43
    First comment. This is my face when waiting for Raoul to Talk 🤗
    • JF
      Jack F. | Real Vision
      11 September 2020 @ 23:00
      Don't blame you Jon! I can get a bit long-winded sometimes and I understand everyone wants to see Raoul. For those of you want to skip my section with Ash, you can go right to the main segment at 6:14
    • CB
      Chris B.
      11 September 2020 @ 23:15
      Don’t be silly Jack, love your work 👍🏻
    • MD
      Matt D.
      11 September 2020 @ 23:43
      Hi Jack, I thumbs down-ed you only to say that I enjoy your work. Cheers,
    • PD
      Peter D.
      12 September 2020 @ 00:08
      Jon.... there is a small yellow dot just below the screen where you can click to skip the intro. But give it a chance. Jack and Ash are two smart dudes....
    • OA
      Oliver A.
      12 September 2020 @ 00:26
      Jack, I love hearing your analysis, and look forward to more in the near future. It's easy to see how much passion you have for the subject matter. Good stuff.
    • JS
      Jon S.
      12 September 2020 @ 01:45
      Jack. I mean the whole week we wait for Raoul. Your section is top. Today in the beginning was a little bit fizzy, but disorder just the beginning. Then, it was superb. Take care have good weekends!
    • JS
      Jon S.
      12 September 2020 @ 01:46
      Ash knows I like how he interviews. Oh I have been so badly understood. I mean I wait fo Raoul to talk because I wait for the whole week! So, you do many of you not in pro tier (I am in plus tier).
    • MB
      Marget B.
      12 September 2020 @ 01:49
      Jack's great, too!
    • JS
      Jon S.
      12 September 2020 @ 02:20
      And jack you Are really good. I would like to see you as interviewee during the week. 🤗
    • JL
      John L.
      12 September 2020 @ 02:47
      Great job, Jack. Personally, I'm really liking the "Jack Unplugged" version too without the teleprompter. Real Jack on Real Vision. Real Cool.
  • TA
    Truitt A.
    12 September 2020 @ 02:37
    Excellent news on the crypto channel! I'm just as pumped as Raoul. Should be a legendary ride over the next few years and great to have such a professional organization joining in.
  • BB
    Ben B.
    12 September 2020 @ 01:25
    Great to hear someone else talking about the price of jeans, I am always banging on about this with my wife. If you look at the ABS CPI indexes you can see when the factory closed down in Australia and moved to China otherwise 501's would be $400-$500 today.
    • JS
      Jon S.
      12 September 2020 @ 02:21
      And better quality.
  • DM
    Dominic M.
    12 September 2020 @ 02:16
    Raoul: If you think video is going to eat the world, and you understand the value of blockchain, then you should consider checking out Livepeer, a blockchain video transcoding project. It's a very LT play as it's basically impossible to make sexy, much less appreciable by most folks. But it could become a core building block.
  • TL
    Thomas L.
    12 September 2020 @ 02:01
    basketball team hahaha
  • DM
    Dominic M.
    12 September 2020 @ 01:44
    Your comment about crypto and macro coming together is spot on, Raoul. The correlation with gold is the rocket booster, I believe. There have actually been some interesting breaks in the correlations (including e.g. with EUR/USD) over the past few days. My guess is we need a short squeeze to conclusively get over 12K, and that that _may_ happen around the time of a dollar spike. We'll see ...
  • RH
    Ron H.
    12 September 2020 @ 01:42
    The crypto initiatives sound very exciting. To echo Raoul, remember the wisdom of David Bowie: "turn and face the strange", "all the strangers came today, and it looks as though they're here to stay".
  • DB
    David B.
    12 September 2020 @ 00:39
    Insightful and educational video as always. This is a joy to listen to for good objective viewpoints. Thanks so much! One problem...seem to get an ERROR CODE: APPEND_BUFFER_ERR part way into it.
    • KA
      Kevin A.
      12 September 2020 @ 01:35
      I used to have that problem with RV constantly using Chrome. I switched to Safari and haven't had problems since.
  • SS
    Stephen S.
    12 September 2020 @ 01:14
    It’s all roses unless you are part of the sales support staff or work at a hotel in NYC.
  • IN
    I N.
    12 September 2020 @ 01:05
    I love your passion and enthusiasm; it is intoxicating.
  • PD
    Peter D.
    12 September 2020 @ 00:43
    Two things Raoul: 1. One great way to measure inflation is measure total credit growth (private, government and individual). Because almost all debt can be sold (seen Doug Nolan's Credit Bubble Bulletin) and thus has money like characteristics. In Canada (where credit growth has averaged 6.2% each year for the past decade) there is a long-term data series here: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3810023401 You don't see this in the data because businesses, which are becoming vastly more productive and would normally been slashing prices, have had to keep them stable to pay for increasingly onerous direct (taxes and tariffs) and indirect (minimum wages, regulations, credentialism) government levies. In addition, the government inflation data - as you know - has been significantly rejigged (removal of asset prices etc...) during the past three decades. It's time to get John Williams of Shadow Stats back on to explain how that happened. 2. If you are going to start talking demographics; you have got to get Harry Dent back on. He has been saying this stuff for years, and frankly he has not been taken seriously. But it is becoming increasingly clear that he has been right all this time...
  • RL
    Renee L.
    11 September 2020 @ 23:46
    Wow Raoul- I teach entrepreneurship at university. Loved your real life description of MVP:)
    • RP
      Raoul P. | Founder
      12 September 2020 @ 00:08
      Thanks!
  • PD
    Peter D.
    12 September 2020 @ 00:01
    Quick "High Five" to whoever hired Jack Farley ...
  • MD
    Matt D.
    11 September 2020 @ 23:40
    Love the passion. Thanks Raoul and Ash. I like the demographics take on inflation too btw.
  • RV
    Richard V.
    11 September 2020 @ 23:39
    Starting at 33 minutes.....the Raoul that we need here. Thank you Gentlemen
  • RL
    Renee L.
    11 September 2020 @ 23:37
    Super excited!
  • RL
    Renee L.
    11 September 2020 @ 23:30
    Ahhh- good idea Raoul. I hope you are successful. Our BTC tech community has been doing this for a while with Socratic Seminars.
  • JS
    John S.
    11 September 2020 @ 23:18
    Inspirational
  • ER
    Ernesto R.
    11 September 2020 @ 23:15
    thanks guts amazing again Real Vision Army
  • RB
    Robert B.
    11 September 2020 @ 23:13
    Is the Crypto tier going to be included in the Pro tier or will it be an entirely separate tier?
  • LF
    Liam F.
    11 September 2020 @ 23:04
    When's the RV IPO? Friends & family? ;-)