This week Raoul Pal joins the show to discuss his exponential age thesis. We deep dive into why liquidity will resurge into H2 2024, why diversification is dead, financial repression, the fourth turning & how all these factors impact markets. Enjoy!

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MANTRA Chain is a Cosmos SDK-based L1 blockchain addressing regulatory compliance gaps in the Cosmos ecosystem. Positioned as the "blockchain for tokenized RWAs and regulated digital assets," MANTRA offers high-performance, scalable blockchain architecture, supporting both permissionless and regulated, compliant applications. Learn more: https://www.mantrachain.io/

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Join us at Permissionless III Oct 9-11. Use code: MARGIN10 for a 10% discount: https://blockworks.co/event/permissionless-iii

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Timestamps:

(00:00) Introduction

(02:17) The Liquidity Cycle

(09:26) Trouble In Japan's FX Market

(13:00) Mantra Ad

(14:06) Financial Repression

(15:43) Diversification Is Dead

(20:12) The Age Of Debt

(27:25) Permissionless Ad

(28:06) The Crypto Thesis

(39:28) The Banana Zone

(46:10) Changing Your Investment Framework

(48:55) The Fourth Turning

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Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.