I am from argentina. Inflation as we know it does not come so much from supply shortage or excess of demand but from an escape from currency ( bonds in case of US).

I really didn't understand the bit where Raoul spoke about implied futures curve and spot yield on crypto, lending markets on crypto, markets being oversupplied with Bitcoin. When lending rates falls, people will take profits (i.e., sell) profits. So long as we all believe in Bitcoin becoming more mainstream whereby the Bitcoin users and investors increase from current c.1 million people to 7 billion people, the lending rates will remain positive (if not crazy positive), no?

I really think it's a wise move not to reveal your portfolio, Raoul. Great discussion - thank you.

It's a very interesting idea that a lending rate collapse in crypto could presage a more major downturn.

I joined RV to learn about markets, then joined pro looking for better trade ideas, but realize after watching this that there is even more value in the performance coaching aspect. Thanks RP. Great as ever.

Raoul is the only guy who will admit he doesn't know what he is doing to everyone (regarding Alt coin picks). Which means he knows what he is doing when it about other Macro topics. You are the only reason I really watch Real Vision. Sorry, but without Raoul, there is no Real Vision.

I started my financial crash course in early 2020 and so far the results have been pretty positive. I didn't really invest before and now I've doubled my net worth, thanks to assets like RealVision and so many others, (RL - interview J Bravo!) I was motivated by both my tingling spider sense and what Raoul refers to as lifestyle chips. I recently checked out Gabor Mate's In the Realm of Hungry Ghosts, about his experience as the doctor on call for a hotel for addicts in Vancouver. I've seen addiction in my life and Mate helped me to understand susceptibility. I am exhilarated by my wins because I get to burn them for lifestyle chips, big art projects basically. Raoul reminds us that trading could become a person's be all end all... and that path seems miserable. Even though Raoul is crazy busy, he's clearly dialing in the lifestyle thing!

Raoul has the patience of a saint for answering the same question multiple times. Some people do miss the first time and for those of us who catch everything he releases, reaffirmation is always comforting. Highlights for me were “A day in the life of Raoul” and his 2021 guesstimate for bitcoin’s price.

Thank you Max and Raoul. This was one of the best Insider Talks ever. Max, your questions were well-organized, covering a broad range of macro topics and assets, and were very succinct. Raoul, your answers were thoughtful and nuanced, providing a clear understanding of your current macro view, including short term market risks and longer term opportunities. Extremely helpful.

Really appreciate the Ask Me Anything. Thanks for doing this and looking forward to the next one.

thanks for the great talk! pretty much hit all of the topics on my mind aside from one aside one pertaining to EM. I know JB has been talking about Mexico (mxn/eww). With US moving some things closer to home shores, will mx have any out sized benefit in the coming years?