Published on: April 8th, 2020 • Duration: 43 minutes
Raoul Pal returns in his role as founder of Global Macro Investor to update Real Vision members on his ever-evolving macro framework. He lays out his case that COVID-19 may be the catalyst for a multiphase unfolding of the entire global economic system and argues that we are still in the first phase of panic and liquidity. The second and third phases of correction and insolvency are possibly still to come and would take years to complete. Although Raoul describes a truly catastrophic potential scenario, he closes on the hopeful note that this unfolding would be a much-needed reset, and that there is plenty of room to hide in asset classes like U.S. treasuries, dollars, gold, and bitcoin.