Raoul Pal The Journey Man: The Everything Code: Debt, Demographics and Liquidity (Ch. 1)


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Source: Youtube Raoul Pal The Journey Man

Type: Video

Published: October 26, 2026 at 02:48 PM (1 day ago)

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Watch the full film: https://youtu.be/KLk55NI9DOY

Chapter 1 of One Code: the world we are in.

Growth is population growth, plus productivity growth, plus debt growth. This chapter shows what happens when the people run out and debt has to fill the gap: why participation peaked in early 2000, why births lead it by about eighteen years, why the debt can only be refinanced, and why the roll of global debt is the business cycle.

It also covers the calls: what the framework got right, where Raoul overruled it and got it wrong, and the Banana Zone call that failed. It ends on debasement as the engine behind every asset, the hurdle it sets, and the one way out, which is...

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