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Raoul Pal, macro guru and CEO of Real Vision is predicting a huge obliteration of wealth that will change the financial landscape forever.
Having returned from his holidays in Spain, Pal explained to his almost one million Twitter followers that the current economic slump will leave the economy to pre-Covid levels.
The investor advisor details that baby boomers, who currently hold the most wealth in the US, do not have a wide range of choices in dealing with the recession:
“For the Boomers the choices are:
Destroyed pension value, or inflation-eroded annual pension payments, or QE (quantitative easing) to infinity.
And that leads to more debts for those with low pensions or savings to offset this… which leads to the need to debase debt via QE.
And that screws anyone younger, who just get poorer in asset purchasing terms (assets are just future delayed consumption).”
According to Pal, in such situation, younger generations are incentivized to enter the crypto and technology markets, which as an asset class are the best options to invest in, when dealing with currency debasement. He said:
“And that means young people either have to opt out entirely or take more risk as crypto and tech are the ONLY assets to have outperformed the debasement”
The macro guru had recently said that despite the painful sell offs, fundamentals for Bitcoin and crypto markets are solid.
“But can things get worse? Absolutely. But for my investment framework, we are in the buy zone… right near the two standard deviation [logarithmic] regression channel.”