Raoul Pal|Sep 17, 2026 01:04
You need to make 11% a year just to stand still.
Thats 8% currency debasement plus inflation, and only two asset classes have really cleared it... crypto and technology.
My book The Everything Code is out November 3rd. It covers why an aging population forced the world into debt and why debasing the currency became the only way to pay for what we already owed.
It also goes into my Exponential and Economic Singularity frameworsk... what happens when that debasement cycle collides with the fastest technology adoption in history, and where it all ends up.
Heres me giving the cliff notes on @milkroaddaily this week
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