Very interesting piece of insight about foreign students, Kiril. I hadn't though about that and the knock on effects. I will meditate on it now though. Thanks RV, both these guys are just really nice gentlemen and that comes across even through this medium.

Can RV or RV viewers who have experience in purchasing physical gold as individual investors provide some trustworthy suppliers that they have had good experiences with? Asking from Canada, Thanks.

Brilliant. Keep watching again and again for Kiril's insights

Can you pls upload a transcript like you normally do?

We don't need bar room BS about leaders' personalities whom you have never even met. We need economic and political analysis. Raul tried to keep this on the rails, and I give him credit. herding cats.

Hong Kong didnt forget about china's economy you old decrepid boomer fuck maybe they wanted freedom? But boomers like you that ruin eathd our society and culture still care more about money . I dont wanna sound like Greta ffs but at what point do you stop selling your soul for the return lol?

I have to say I am shocked at the quality of the comments to this interview. having been a subscriber since the beginning, I'm used to seeing thoughtful and respectful comments. Many of these seem entirely out of place and not helpful to intelligent discourse

EXCELLENT , TY

I would love an hour of these two just speculating on oil markets and KSA/Russia

more kirill

Relying on China as the global suppier was the error made by globalist that predated the Trump administration. So are Raoul Pal and Kiril Sokoloff members of the financial elite and globalists who have benefited from the current system? So now Kiril Sokoloff appears to prefer Joe Biden, Mike Bloomberg, Bernie Sanders and the dysfunctional Democratic Party to navigate the real economy and the markets; what they will get is another oligarchy with different leaders but possibly a worse outcome if additional freedoms are sacrificed for the "good" of the (democratic) party. Of course, the financial elite will again be protected from the reality that the rest of America will experience. This is similar to the Congress passing Obama Care, when the Congress keeps premier medical care that only the very wealthy could afford.

Great duo, again. More Kiril, Raoul! Great stuff. Stay safe.

Flicking through some of the comments it's so sad to see a platform like RV be turned into your general youtube channel. The comments composition is 45% nonsense, 45% sycophants and 10% worthwhile stuff which gets lost amongst the volume of 'noise'. I am sure the owners have become tremendously wealthy off the back of the many subscribers but IMO, it has diluted the brand and the quality of the content. I won't be renewing. Grant Williams always struck me as someone with high integrity and seeing the way this business has pimped itself out to the masses, it's not difficult to put together the dots and work out the reason behind him leaving! How sad.

As most of you already do, please keep it civil and educated. Don't be that person that insults someone else for his political option. No one wants a person like this at their table, at their party or in our community.

David K. So, Raoul you seem to agree with Kiril, Simon Miklailovich and Grant Williams in being against Gold ETFs. George Milling-Stanley believes that State Street's ETF of GLD is solid. What do you say?

"The human species just had a nervous breakdown." Brilliant.

"How could the US enter a trader war when China produces 98% of the antibiotics that America uses...?" A very fair and honest question indeed. However, he might have followed up with "Which, by the way, is an absolute disgrace that this is the case- that our past leaders, both corporate and public, let things get to this place." ...OR maybe with his own words (which instead he used to describe the trade war): "...I just can't even deal with how incompetent that is"

LOL at the people who think the temporary decline of US shale puts it into a long-term crisis. If necessary, the US can open more of Alaska and offshore drilling and give a giant middle finger to the Middle East and Russia for oil. It's politically unpopular now (thankfully...because it preserves our reserves), but push the US far enough and it will happen. People forget how enormously resource rich the US is.

Any thoughts on the mechanism(s) for a conversion of the paper fiat currencies to fiat digital currencies issued by central banks? 1:1,000 1:1,000,000. What will there be to stop them "creating" unlimited amounts of digital currencies like the current QE or money printing?

I have read many of the comments below and I feel compelled to write this: Those who have criticized the video, for any reason, have no understanding of what they have witnessed. Frankly, those who find fault or error should not maintain their subscriptions, because they lack the ability to fathom what they have been given. This discussion is a clear roadmap of where to be invested, when to be invested and what to anticipate going forward. I have no idea what level of subscription one must have to have been offered this, but as a top tier member, this video, on it's own, made the subscription this year well worth it.

Great discussion - excellent questions by both and thoughtful answers. The format worked very well and gave me things to think about. Thanks to both Raul and Kiril for this.

Oil price is a win/win/lose for Russia. There is a high cost in lost revenue for this strategy. This is a high-level game of chess. The shale market will shut off production at $20 but will reopen again when the price of oil nears the marginal cost of production. Russia may have a tiger by the tail. It is impossible to tell exactly what Russia wants from the move. DLS

Politics certainly move markets. Anyone being interview should be able state their personal political opinion on RVTV without being vilified. This partisanship needs to be checked at the door. There are plenty of partisan blogs around that you can go to and reinforce your beliefs regardless of what they are. DLS

Raoul and Mr. Sokoloff might be most insightful around, but FDA just approved a 15 minute test for the coronavirus, doesn't that change your view? And about the blame game? Its the Chenese CCP that's been blaming America for the virus, of course Trump responded. Regarding US phama why was our production moved from America to China? About Trump wrong attitude ... he is pushing American industry full speed to produce respirators for America, and the world .. ask Boris Johnson.. further gallup poll has Trump at 60% approval on virus response. Regarding Biden wining in Nov., its tragic but Mr. Biden can barely speak rational sentences anymore?

does Raoul/RV team have any suggestions on best place to hold physical gold for individual investors? Great piece by the way

ABSOLUTELY BRILLIANT. I always love the KS interviews. Keep them comming

Dear RealVision Team, I have a question to you and if possible to Mr Kiril Sokoloff. I'm a long-time Russian assets bull, invested, with skin in the game. I have used the oil and stocks crash to buy even more. I appreciate the chess playing mind of Mr Putin, the problem is that I have one worry about my investments in Russian assets and if I get it right. Could this be a huge mistake for Russia, because it increases the risk for new strong energy sector sanctions? Lets say that Russia wanted to keep market share and also hurt US shale. It seems they will get all this. But what if this brings the USA politicians on the table to limit Russian oil market share by sanctions? There was a move by Rosneft recently to divest assets in Venezuela, which clearly shows they worry about US sanctions. So I'm worrying and wondering if buying Russian assets and the thesis that they are taking smart strategic decisions is correct? What sanctions from hell focused on the oil and gas sector could mean for their market share? Also it seems the US will bailout the shale industry, so financing might not be an issue. Peak shale oil is coming because of the fact that producers used their most lucrative wells first, so oil could find a bottom because of that and when the corona situation is under control, but probably not because of lack of financing for the oil industry. So I wonder, could oil find a bottom sooner, if the USA tries to completely block out of the global market Russian energy resources? 1. Will the USA hit the Russian energy sector with sanctions from hell to punish it for the chaos they caused to the market and shale producers or other reasons but use that as pretend? 2. Then the question is, if such sanctions will really be an effective or just cause a temporary crash for Russian assets? I think a few years ago, the USA did not want to sanctions directly the Russian state and economy because they were worried that oil prices will skyrocket and it was not that cheap back then. But what about now? When its so cheap, that its becoming a problem? Can they try to solve that problem by just limiting Russia from selling oil, same as they did with Iran, Venezuela? Thank you for taking time to read my thoughts.

Amazing !

just to note: many said exact same things when GFC happened. changing culture. this or that. does not happen. When a vaccine comes in 12-18 months, its also the end of this. with respect, short term sure. long term. 99% no.

i highly respect kiril, but espousing global trade and the lack of logic....almost didnt make it through. it was too much. and so blatantly ignores the vast peril in the trade relation/outcomes of today with the ccp.

This video as well as Raoul’s previous videos are are amongst the best ever on Real Vision. I am a charter member of Real Vision and I only signed up for the macro view. If anyone has a better understanding of the big picture than Raoul please let me know who it is.

Fantastic video, I just watched it for the second time. Kiril is very thought provoking and forward think as is Raoul. Well done Glenn O

lol this guy licks ccp balls . wont go there regarding how there are no human rights. People are tired of parasites like kirkil here. and nationalism is good you globo homo agenda shill

It’s not that Putler is a genius, it’s that other European and US leaders are idiots. When Putler fought wars with Georgia and Ukraine, EU shit their pants and sacrificed Georgia and Ukraine thinking that Russia will stop there. The European mentality is the same as it was in 1936. Sacrificing Georgia, Ukraine, Moldova, Syria and at the same time being dependent on Russian gas and oil will bring end to the European Unity. It is already very clear, looking at current Eurobond dispute that EU has no future and this virus or some other economic event will put a last nail into the EU coffin. Russia will bring the whole Europe and their “umbrella”.

It is amazing to see commenters falling all over themselves to praise the "wise ones". There is nothing new or enlightening here. These two undoubtedly watch way too much CNN. Wake up; take off the blinders. The CCP; (not the general population of China) are the enemy of all people everywhere. Their citizens live in a virtual prison, run massive concentration camps full of Uyghur Muslims, destroy Christian churches/have pictures of Xi above the alter for worship, engage in rampant IP theft, murder political dissidents, and concealed the truth of the Wuhan Virus and imprisoned doctors who attempted to warn the world. But ya lets not be aggressive or divisive here wouldn't want to offend Xi and the gang. Geobbels would be proud. Also Biden is suffering from dementia and has zero chance of winning the election. I feel bad for Biden; let the man retire to peace and solitude. The only hope for Democrats is to run Clinton. Understanding I am taking issue with only 2 minutes out of the interview; those two "non-political" viewpoints cast a shadow on the rest of the thinking.

i don't understand why 27 persons dislike this interview. This is a masterpiece

Amazing interview, thank you gents!

My issue with Mr. Sokoloff is he downgrade the atrocity of what China had done to their own people and to the world by saying how much China contributed in terms of GDP growth. I love Raoul and RV. But what we are seeing here is an interview of a China apologist. China did not sacrifice their own economy for the world. Don't forget it was China who complained about US restricting travel from China in the first place back in Feb/March. It was also China that gave false information to WHO back in January stating the virus is not possible to transmit between humans. There was a lot of deliberate spread of false information that leads to this pandemic. I am not trying to point the finger saying who is most at fault. But if we look at the sequence of the event had China provide more transparent information to the world about this virus people would have listened and prepared for.

I highly, highly reccomend checking the book "The five stages of Collapse" by Dmitrii Orlov. Just by the resume, you will get , why you should read it NOW. Great interview, as always by Raoul Pal and Mr. Sokoloff !

I have watched almost *every* interview over the past 4-5 years. This is probably the best interview ever. We are privy to a discussion between friends covering a wide variety of topics. Set aside various pieces of content the may be disagreeable (Trump, BTC) and look at the biggest story and implications, One can't find this content *anywhere* in the world. Very, very, special. Thank you Realvision for sharing.

I'm amazed people can't see what the Chinese did or maybe they just ignore it while looking out for their wallet. The Chinese shutdown anyone from within that wanted to warn the world about Corona, then they shut everything down for the Chinese new year knowing full well millions would travel and spread Corona. Using authoritarian rule, like few others can, the Chinese knew they could control Corona so no risk to China. So the Chinese locks down, reduces the numbers within knowing the west can't weld doors shut. The Chinese must have been rolling on the floor laughing when many New York City officials through all of February and 2 weeks into March told everyone to get out and enjoy, Corona is low risk. SARS which also originated in China was just practice.

everything on realvision is opinion I am open to all the opinions, but respectfully disagree with some said here. Especially the politics. China is a problem, regardless of their contribution to the world economy. People before profits . Regarding the breakdown of the financial systems I agree. It makes sense. In my opinion...

Salute the real vision production team to deliver such quality content in times like this. Kirils viewpoint at this juncture is invaluable.

may I add... often in countries where there is a demographic bust like Italy it's also the men who don't want to marry and have kids not just the women....

Raoul, respect for you, but we don't need to "come together" with China (which really means the Chinese Communist Party). Forget niceties over whether Trump should call it the "Chinese virus" or not. The CCP are murdering, communist destroyers who are the enemy of freedom everywhere. The west (thanks Bill Clinton) has been extraordinarily foolish to enrich the CCP. The west should disengage and make it the priority to destabilize the CCP at every turn. They are our enemy. They are not normal global players or "partners". I know most of the people you interview are globalists and have probably made a fortune off of China, but it's been disastrous for freedom and for normal citizens to enrich the CCP. "We should all come together" is globalist claptrap. We should all focus on nurturing freedom and starving tyrants. If we don't wake up we will be very, very sorry in a few decades.

Have been an RV subscriber since the beginning. Thought this was the best one ever. Great questions Raoul.

This is one of best videos you’ve done RV. Thank you.

Very cool

Wow! Learned a lot from this talk. The insight into Putin's possible strategy was eye-opening. Americans are so myopic. Just because you take a global perspective of events doesn't make you pro-Putin or pro-China. It is called being realistic. USA is not the only country on the planet and definitely not infallible. If we refuse to accurately assess the motivation of other wold leaders while our Nero fiddles away our well-being, then we deserve the outcome we get. I am grateful beyond words for the education I am receiving through RV. Thank you!

Here is my biggest concern about bitcoin. The way it works is that approximately every 10 minutes, 12.5 bitcoin is handed out to a miner who is lucky enough to process the next block (this is chosen essentially at random). This is around $81,250 at today's prices of $6500 ($6500 x 12). Most bitcoin exchanges wait 3 to 6 blocks before accepting a transaction is good. So suppose a government or big corporation or entity wanted to destroy bitcoin. All they need to do is do something called a double spend, utilizing a 51% attack. Basically what this means is they transfer some bitcoin to an exchange, exchange it for USD or some other crypto currency, such as ethereum, and then withdraw it back to their own wallet. Then they fire up a huge array of computers that could compute faster than 51% of the current miners. Their computers would fork the blockchain before the transaction sending money to the exchange was run, creating blocks that essentially remove the transaction from existence. As long as they were able to run their equipment for over around 60 minutes with more processing power than 51% of the rest of the miners, (6 to get the money in and however long to get the alternate cryptocurrency out, approx. 30 minutes), they would be able to do this. Given that the subsidy given to miners is only 12.5 BTC / block, with the proper equipment, the total cost to them (at today's current price of BTC of apprx. $6500) it would only be $6500 * 12.5 * 12 = $975,000, which is basically a rounding error for any major government or corporation. After this had been done, the news would spread like wildfire that bitcoin had been hacked. This would, in turn, crash the price. So now lets say the price dropped to $3000. The subsidy is dependent on the price, so now half the miners have to shut off their equipment for the rest to make money (there is a variable number of miners competing for a the constant prize of 12.5 BTC / block). So now, to do the same attack again, the cost is just $3250 * 12.5 * 12 which is around $500K. And this process could then be repeated, over and over again, for less and less cost to do so, until the price of bitcoin reached zero. (Note that I'm ignoring the cost of procuring the computers to do this, but I would assume that most major governments would be able to acquire these, or have already had these lying around) The other thing to consider is such an attack can be done completely anonymously, since with proper techniques its easy to hide where the results this rogue attacker's miner are coming from (through vpn's, TOR, proxies, etc.) which would make this an even more attractive option. This can be done for *all* Proof of Work based cryptocurrencies, including BTC, ETH, LTC, etc. I used to think that the odds that a government or large corporation would do this were slim, but this is when the world economy was very stable. In the current times, I don't think it's that improbable anymore that there is some actor with the means and motivation to do this. Just thought I'd share since I haven't seen any talk about the security of bitcoin on this site, so I assume that most people here think that it can't be attacked, which is completely untrue.

Congrats Raul for this interview, pls do it again soon!

I am always in awe of Kiril Sokoloff, but was a little surprised with his political commentary. The other guy, Raoul, is way to full of himself for me.

I am always struck, after watching RV, how little I know about markets, trading, etc. For me, it is a great respite from all the canned institutional thinking that has impaired my understanding, for so long. It is also the rare space void of politics. So, this video, although enlightening, was a little disappointing at times. Juxtaposing the comments that Trump’s naming of the virus is not helpful when the world needs to come together and the praise lavished on Putin for attempting to annihilate the US energy industry was difficult, as an example.

I've added a bunch of videos to my list, but where can i find my list?

Interesting that Raoul mentions he has closed out his gold positions.

Always love hanging out with Kiril and Raoul! Good session gentlemen!

Pure genius No words Except Thank you Two original thinkers

great interview I just don't know about the politics, Trump is not Hoover he has bailed everyone out and will do more bailouts and Biden is half senile, Trump will destroy him in the debates.

Slow internet today so couldn’t stream the video. Had to settle for reading the transcript, which actually was quite effective and saved me 30 min! Agree that the duration of this crisis is likely far longer than most people in positions of authority, expect. Also agree that the old rules and the asset reinflation trade is probably not going to be the main game on the other side. I went from stocks to bonds in Feb then to cash in Mar, based on RV advice, avoiding huge losses, so thanks RV! Am looking to possibly invest in rental housing at some point down the road if this crisis triggers another wave of foreclosures.

i like Kiril though to be honest was quite generic and didnt get any insights out of it

Great video and discussion guys!

When was this filmed? It shows the release date but not the filmed date.

Fantastic

Another wonderful conversation! Thanks a lot for your work!

Simply brilliant, thank you Kiril and Raoul and the RV team xx

Are they forgetting that China lied to the world & WHO?! How many people's lives have been ruined, and they are concerned about labeling the virus. Sorry, I stand with Kyle Bass and his sentiments on calling it the CCP Virus. It was not the fault of the people of China, instead it was their leadership. Business community make excuses for China all because of cheap goods. Raoul is right that we should all stand together, but hold them accountable. The timeline of the lying and hiding of facts is astounding. Two very smart gentlemen, but the label and actions are important. CCP is working in overdrive to change the name and even blaming the US for it.

This is filmed on the 20th March...not sure why the date isn't posted. Raoul is wearing the same shirt for this interview that he had on when he interviewed with HedgeEye. Why do these episodes take so long to put up on the web site?

Their politics are getting in the way of their field of view.

27 people don't like this interview? I loved it.

Great stuff, brought Putin's actions into historical perspective. Although cryptos are certainly promising, my humble suggestion would be to divert some of the computational power away from these projects for now and apply it to where it's most needed: finding an answer to the current virus and the next one to come. Projects like https://foldingathome.org/ are a good starting point.

I worry we will look back on 2019 like Japan looks back on its stock market from 1989. No more stock buy backs, retirees pulling money out, higher regulation, slow recovery with even bigger debt burdens, Fed infinity, Dems want people to get paid more being unemployed which causes businesses to automate faster with Feb money buying their debt, maybe we don't make new highs for another 20 years.

Wish I had heard this conversation 50 years ago. Iv'e been knocking on all the wrong doors before opening this one. Thanks RV not just for me but for hard working, honest families that have been taken to the cleaners for the ages.

from the transcript" Anyways, so I finally said, I'm just going to take a position this year just to get my feet wet. And of course, I got killed. It's a tiny physician, but you have to laugh. But at least I've got a physician on that I can add onto, but I love Bitcoin." Its very good KS has tiny physician :-) at least he has a physician in this COvid 19 world pun unintended

Thanks Raoul and Kiril. Great conversation.

Glass-Steagall & Uptick Rule along with deep audits of Wall Street & the State collusion. Wake me up when that happens

Excellent

A move to distance learning may exacerbate the education gap, especially for students who need direction and haven’t yet “bought it to learning”. I’m not talking abut self directed college student, but hs/ms/es students whose parents work multiple jobs to make ends meet and hence don’t have the bandwidth to keep the students accountable. I hope we find a way to mitigate and adapt to alleviate this issue.

This is the kind of interview I signed up for originally. I don't give a shit about how to invest or the latest craze. I have my own investing style and methods. I want ideas that I can take, think about and possibly apply to the way I do my own investing. Ps - the quality of the comments is going downhill.

I agree that the corona recession/depression is very bad for Trump, but I'm not so sure Biden is electable. Let's just say Biden was the greatest guy ever and 80% of voters loved him, I still don't see how we could put someone in the oval office with dementia. My guess is that Biden steps aside and Democrats nominate someone else. If that person isn't a complete whack-a-doodle, they probably sail into office.

Why is it important to identify where the virus originated? The Spanish flue did not start in Spain. We do not always know the point of origin. It is important to identity the virus. It is important to fight the virus. It is important to help the sick. It is important to keep as many people safe as possible. It is important to know the epicenters to help stop the spread of the disease. Get a grip on what is important. DLS

I think of RV viewers as sophisticated and hopefully politically non-partisan. Smart people can carry two opposing views in their head at the same time. So it's surprising to me to see anyone defend Trump. The man is a liar, he isn't a leader, and he is unqualified to be president. The facts on this are indisputable. Anybody, even Joe Biden, could do a better job than Trump. As Sokoloff said, a leader inspires the people, brings people together towards a common goal. All Trump does is divide.

Raoul for the beginner investor what vehicle do you recommend we dip our toe into Bitcoin or other similar currency

Japan is very nationalistic. They may never leave their own markets.

Thanks for bringing Mr. Sokoloff back on. Always brings RV a unique perspective full of wisdom.

Fascinating. 🙏🏻

Fabulous discussion by two of the most thoughtful and sharp people on the planet. Enjoyed every minute of it!!! One (very, very minor) point of feedback, however: As a serial entrepreneur, with multiple start-ups to my credit (some successful, some unsuccessful) i can tell you that the idea that starting up your own business is a path to freedom is routinely exaggerated. I have found bigger companies routinely stole my ideas or employees; would often regard paying my invoices as somehow "optional" and would also routinely leverage their key stakeholder relationships (lenders or suppliers) against me, in all cases knowing that a start - up has limited capacity to fight back. Remember that the failure rate for start-up is sky high and battling such odds is not for everyone. As an employee, one has some protection, as employers have to conduct themselves within employment legislation. As a small start-up, you may find yourself at the very bottom of the food chain, in a dog eat dog world.

Kiril is a man of wisdom. His experience, level of insight and ability to pull a fitting quote or story is so inspirational. This video made my day. Thank you, RV!

The interview was cut at 16:46? Kiril was explaining why gold would do well also in a deflationary environment. Why did you take that out? It would have made a very interesting point of view why that would happen ( I mean gold).

When was this filmed? Would be great to add that date during these crazy days, just for perspective.

I once went to a night club that was almost as lavish and Raoul's games room.

Kiril Sokoloff, what a great man! Thank you for featuring Mr. Sokoloff again. He is a plain spoken and wise leader. As a private, I'd pick him as my lieutenant in the fox hole.

One of the best videos ever on real vision

Terrific!!!

Amazing! Raoul, Kiril, thanks to both of you for letting us in the world of your thoughts, ideas and friendship.

They can move the arms to the very last seconds...

Hoping this leads more people to the platform: https://medium.com/@mattcsnow/real-vision-the-netflix-of-finance-b9bc8b69a3c7

What did Zeihan suggest, by the way?

Totally underwhelming. The range of quality on these sessions is a little odd.

It was reassuring to hear the optimism of Kiril and Raoul on long distance learning. Funny enough, I am in the middle of a switch from theoretical physics in academia to a tech startup that does just that.

I think that governments are going to have to balance the risk of the virus to the risk of destroying the economy, which means opening up their economy in the expense to people getting the virus before the vaccine is available. Trump is probably thinking this. There is so many unknowns, stay safe everyone.

A re-evaluation of China...FFS

What was with the jump cut around 26 min into the video? Kiril was about to ponder about the FED keeping the dollar under control and you jump to bitcoin. What else can they do besides swaps and what if oil goes under $10? I'd gladly listen to anyone that can expand on that.

Spanish flu, Asian flue, Ebola, etc. these illnesses have always been named for the geography where it seemed to come from. "We should all come together" is such hippi language. Never, ever has the world all "come together.

The market is up 20% in the last three days. How relevant is this conversation and when was it filmed? I’m not a pro member but I don’t this that means I deserve stale content during a fast moving crisis

Big fan of both Kiril and Raoul. Thank you for this video. One item I found interesting (Know I am not a fan) but people still underestimate Trump. Many think Biden is a shoe-in, however, Trump's numbers continue to go up. Also, have any of you been watching Biden? He is having a very hard time atm. Mixing of words, and truly looking like early-stage Alzheimer's. Even if we end up in a Depression, Trump still will have a chance, because his followers do not blame him for this. Just thinking out loud. Be safe out there and wash your hands!

Always enjoy listening to Raoul & Kiril, thanks. Do you think the US will nationalize the shale patch for energy security? And keep oil lower for longer to stimulate the US economy? Though noting effects on USD strength...

Obviously two great thinkers so my expectations about this conversations was very high. Always a good conversation but not as insightful as usual. I would suggest fast forward the first 35min....just when they start to talk about gold, geopolitics, etc. But thumbs up anyways. Not sure why Kiril sees as a given a Biden victory? Stay safe...

It's possible to be too big brained. I have immense admiration for both these men, but the crying over any stigmatisation for the virus and explaining it away with 'don't forget chinese gdp contributions' makes you look like robots. The 'we are all one' stuff really needs to be given a back seat, it's not how the world is.

Kiril said something very interesting about the crash and eventual death of leveraged ETFs. I wonder if this thesis is only regarding those supporting a bull market or if that belief also pertains to leveraged ETFs focused on volatility, gold, silver, and precious metals miners (Ex. $JNUG). I understand that physical will sell at a higher price on paper, but do you believe this paradigm will be the death of the paper market and those leverage funds?

When is this filmed?

A lot of inaccuracies in this session, surprisingly. The Chinese were criticized for covering up the virus initially not for the lock down that followed. The cover up caused enormous problems for both China and the rest of the world. There were numerous other points which were clearly an error. Not sure what the goal was on this interview?