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The Peter McCormack Show

WTF is Going on in the Markets? With Raoul Pal, Caitlin Long & Travis Kling - WBD238

The Peter McCormack Show

Peter McCormack

Politics, Society, Markets, News, Society & Culture, Technology, Inflation, Finance, Economics, Government, Power, Bitcoin, Money

4.72.8K Ratings

🗓️ 3 July 2020

⏱️ 57 minutes

🧾️ Download transcript

Summary

Location: Zoom Date: Monday 29th June Company/Project: Real Vision, Wyoming Blockchain Coalition, Ikigai Asset Management Role: Co-Founder & CEO, Co-Founder, Chief Investment Officer

In late 2019 and early 2020, the global economy was showing signs of stress. Even before coronavirus, we saw the Fed having to step in and provide liquidity for the repo market and issuing rate cuts. But the rapid spread of coronavirus around the world and the resulting lockdowns has further exposed cracks in the global economy.

Stock markets experienced high volatility as the economic impact of businesses closing hit with Wall Street suffered its worst day since 'Black Monday' and oil prices going negative for the first time in history. Governments responded with unprecedented levels of quantitative easing, and some countries are now seeing their currencies collapsing.

Many analysts have suggested that rather than coronavirus being the cause of this economic downturn, it was instead the black swan event that acted as the pin that popped the bubble and the enormous debts that have been amounting for decades was a disaster waiting to happen.

Over the past year, I have spoken to several economists including Raoul Pal, Caitlin Long and Travis Kling, all of whom warned that a financial collapse is coming.

So, what is happening at the moment, what can we expect to see next, and how can we all prepare?

This interview is from a panel I recently hosted for Real Vision's The Crypto Gathering, with Raoul Pal, Caitlin Long & Travis Kling. We discuss the early warning signs of systemic issues in the global macroeconomy, what might happen next and where Bitcoin fits into this.


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Transcript

Click on a timestamp to play from that location

0:00.0

This was it.

0:03.0

the event, because we didn't know the time horizon, we all know where it was going,

0:07.0

and now suddenly somebody lit the match,

0:09.0

pulled the kerosene on and threw the match on it.

0:11.0

Yeah.

0:12.0

And we'll see how fast this is going to play out now.

0:15.2

Hello there from Bedford UK. How are you all? Welcome to the What Bitcoin did

0:18.9

podcast, which is brought to you by the mighty Cracken, the best place to buy, sell and trade

0:23.1

Bitcoin. I'm your host Peter McCormack and today I've got a monster

0:26.5

panel that I hosted for Real Vision with Raal Powell, Caitlin Long and

0:30.3

Travis Kling where we discuss what the fuck is going on in the markets but before

0:34.4

that I do have a message from my show sponsors. So first up today we have BlockFi

0:38.5

the future of Bitcoin and Financial Services and what a great start to the year they have had they've just

0:43.9

posted a hundred percent increase in their revenue in Q2 the company is going from

0:48.8

strengths to strength after raising their last round so withFi, you can open up an interest account

0:54.5

where you can earn money on your Bitcoin.

0:56.7

I've got this.

0:57.3

I do love getting my interest every month.

0:59.8

You can also take out a USDA loan

1:02.0

using your Bitcoin as collateral, and that's not all.

1:04.6

They've got some other very cool stuff coming soon.

1:07.0

I've been talking to Zach about this I cannot wait to tell you.

...

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