DAN TAPIERO: Bitcoin was down 85% from the high and as an old time macro guy, you're looking to buy things that have gone down 85%, 90% after a blow-off. That's what it is. I think it's a security truth machine. Okay, well, Amazon, that's worth a trillion dollars itself stuff on the internet. But is that as valuable as a new invention for humanity?
RAOUL PAL: One of my key ideas is that within this recession scenario that I think is building, that gold and Bitcoin are going to be two of the assets that perform extremely well because they've become options on a more extreme monetary policy. So, I wanted to speak to one person who brings both of those themes together. He happens to be one of the most experienced macro people in the entire world. He's touched and worked with a lot of the greats of the industry, and he has a unique perspective. And he's been hassling me and hounding me for about six months now that I need to get back involved in Bitcoin.
And when Dan, who's not a Bitcoin guy originally, starts doing that to me, he's got a reason because he's a pure macro player. So, I really want to hear what he's thinking here and how this fits into my broader narrative.
Dan, finally, we get you back. Your previous videos were cult watching for a lot of people because you're one of the pure macro guys. And I was doing this whole thought process about recession and bits and pieces. I've been thinking the Bitcoin was part of what I'm looking at within that framework. And you and I separately, have been talking about it and you'd been hounding me from about February onwards, saying, come on, Raoul, you got to get back into this.