Raoul Pal: The Journey Man

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Aug 2026

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The world is changing faster than ever before. This comes with life-changing opportunities but also unprecedented challenges. In The Journeyman, I talk to the greatest minds at the nexus of macro, crypto, and technology to figure out exactly what the Exponential Age means for us all. I uncover the big trends, potential investment opportunities, and economic risks and rewards, and ask the big questions on how this impacts us, our businesses, and our societies. Brought to you by Real Vision.

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August 27, 202648 min

Scott Bessent Could Change Everything w/ Andreas Steno

Raoul and Andreas Steno break down how Treasury policy, a weaker dollar, and improving liquidity could extend the business cycle and support risk assets like Bitcoin into 2027. They also explore why the AI and CapEx boom may still be in its early stages, with productivity gains and surging demand for compute reshaping the economy. Recorded  August 25, 2026. TOKEN2049 Singapore, the world's largest crypto event, returns to Marina Bay Sands on 7–8 October. 25,000 attendees, 500 exhibitors, 300 speakers and 1,000 side events take over the city during TOKEN2049 Week. On stage: Raoul Pal (Real Vision), Jeff Yan (Hyperliquid) and Shayne Coplan (Polymarket). The Real Vision community gets 10% off tickets; claim yours. -- https://checkout.token2049.com/events/asia?promo=realvision10&utm_source=newsletter&utm_medium=email&utm_campaign=realvision&utm_id=realvision 🔥 *Download Raoul Pal's 4-year investing roadmap for free:* https://rvtv.io/41fVHWF Timestamps: 00:00 - Why Bessent’s Treasury Strategy Could Change Everything 03:17 - Scott Bessent’s Plan to Reshape the Treasury Market 04:26 - How Hedge Funds Became the Biggest Buyers of U.S. Treasuries 07:36 - Why the Repo Market Is Too Big to Fail 10:46 - Treasury Buybacks, Bank Liquidity, and the U.S. Debt Problem 13:27 - The Yield Curve Strategy That Could Extend the Bull Market 16:08 - Why Bessent Wants a Weaker U.S. Dollar 17:43 - Bitcoin, Gold, and the Short Dollar Trade 20:27 - Why Liquidity Is Rotating Back Into Bitcoin and Risk Assets 23:16 - Strait of Hormuz, Oil, and the Inflation Outlook 27:39 - AI, Robotics, and the Productivity Boom 34:09 - Is AI Growth Missing From GDP Data? 37:22 - Why the Business Cycle Could Run Into 2027 38:54 - The AI CapEx Boom Is Far From Over 41:16 - OpenAI vs Anthropic: The Race for AI Compute 45:18 - Why Markets Could Rally Into 2027 #raoulpal #andreassteno #macro #bessent #bitcoin #crypto #liquidity #bullmarket #businesscycle #ai #capex #productivity #markets #investing #realvision #thejourneyman Learn more about your ad choices. Visit podcastchoices.com/adchoices

August 20, 202656 min

Are You Ready for Robots Smarter Than You…Everywhere? with Andrew Kang

🔥 *Download Raoul Pal's 4-year investing roadmap for free:* https://rvtv.io/41fVHWF Could investing in humanoids be like finding Bitcoin in 2014? Andrew Kang, co-founder and CEO of RoboStrategy, sits down with Raoul on the latest "Journey Man" to talk about what he sees as a multi-trillion-dollar opportunity he sees in a world filled with robots capable of smarter, stronger, and cheaper labor than humans. Recorded on August 17, 2026. Timestamps: 00:00 Humanoid Robots: The Next Trillion-Dollar Opportunity 01:53 Andrew Kang’s Journey From Crypto to Robotics 03:20 Why Figure AI Could Be the Next Breakout Company 07:12 How Big Is the Humanoid Robot Market? 10:38 Why Humanoid Robots Could Be Worth Trillions 13:35 Robots, Labor Shortages, and the Demographic Crisis 15:57 What Happened to Boston Dynamics? 17:26 U.S. vs China: The Global Robotics Race 20:04 The Biggest Bottlenecks Facing Humanoid Robots 23:01 How AI Is Accelerating the Robotics Revolution 25:03 Are Robots Becoming a New Species? 26:15 Will Robots Replace Jobs and Force Universal Basic Income? 31:38 Elon Musk’s Huge Advantage: Tesla, Optimus & Starlink 33:39 How Andrew Kang Is Investing in the Robotics Boom 39:06 How to Value Private Robotics Investments 47:24 Building a Long-Term Robotics Investment Strategy 49:39 How to Pick the Winners in Humanoid Robotics 54:36 Raoul Pal’s Take on the Robot Revolution Learn more about your ad choices. Visit podcastchoices.com/adchoices

August 13, 20261 hr 4 min

Why The Next Phase of Crypto Is Bigger Than You Think w/ Blue Macellari

Raoul Pal welcomes Blue Macellari, head of digital assets at T. Rowe Price, to explore why crypto has struggled despite improving fundamentals, and how AI, stablecoins, tokenization, and institutional adoption could reshape the financial system. They also discuss the risks around AI, crypto infrastructure, and what needs to change for on-chain finance to reach mainstream adoption. Recorded August 10, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Timestamps: 00:00 - Why Institutional Crypto Adoption Is Accelerating 02:20 - Blue Macellari’s Journey From Wall Street to Crypto 05:09 - Building a Crypto Fund Through Market Neutral Trading 07:07 - Building T. Rowe Price’s Digital Assets Business 11:35 - What Traditional Finance Learned From the Crypto Crisis 14:35 - Why Crypto Markets Have Struggled Despite Better Fundamentals 18:10 - AI vs Crypto: Where Is the Capital Going? 21:05 - Tokenization, Stablecoins, and the Future of On-Chain Finance 23:36 - Crypto’s Biggest Barrier to Mainstream Adoption 27:26 - Why Blockchain Identity Matters in the Age of AI 30:16 - The Risks of AI, AGI, and the Intelligence Explosion 39:51 - Where Blue Sees Opportunity in Crypto Now 43:15 - Hyperliquid, Perps, and TradFi’s Growing Interest in Crypto 46:40 - How Tokenization Could Transform Asset Management 49:32 - The Hidden Risks of Tokenizing Illiquid Assets 54:07 - Why Institutions Are Finally Embracing Tokenization 56:05 - Stablecoins and the Future of Global Payments 01:01:22 - Will Liquidity Finally Return to Crypto? 🔥 *Download Raoul Pal's 4-year investing roadmap for free:* https://rvtv.io/41fVHWF Learn more about your ad choices. Visit podcastchoices.com/adchoices

August 6, 202637 min

Why Markets Could Be Ready To Move | With Julien Bittel

Raoul Pal and GMI Head of Macro Research Julien Bittel are back with another unlocked episode of Shooting the Shit. In this conversation, Raoul and Julien break down where we are in the business cycle, why the yield curve may be the key macro signal to watch, and how liquidity, the dollar, gold, oil, and crypto are shaping the path forward. They also discuss why markets feel stuck in a choppy accumulation phase, what their indicators are suggesting about the second half of the year, and where they’re starting to spot new opportunities across crypto, technology, AI, space, and emerging markets. Recorded on July 27, 2026 Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at ⁠https://us.plus500.com⁠. Trading in futures involves the risk of loss. 🔥 *Download Raoul Pal's 4-year investing roadmap for free:* https://rvtv.io/41fVHWF Timestamps: 00:00 - Welcome to Raoul Pal The Journey Man 02:17 - Gold, the Yield Curve, and Why H2 Could Change Everything 06:04 - The Bull Steepener That Could Unlock the Next Rally 08:46 - Why Inflation Is No Longer the Fed's Biggest Problem 11:04 - Bitcoin's Technical Setup Looks Increasingly Bullish 13:03 - Solana, Stablecoins, and Crypto's Quiet Strength 16:25 - Liquidity, the Nasdaq, and What's Holding Markets Back 19:13 - Why Crypto Is Waiting for the Next Liquidity Wave 22:08 - Iran, Oil, and the Biggest Macro Risk Right Now 26:18 - The Dollar, Gold, and the Signals That Matter Most 30:49 - Trump, AI, and Why the Business Cycle Keeps Extending 33:15 - Where Raoul and Julien Are Looking to Add Risk 34:38 - Final Thoughts: What We're Watching Next Learn more about your ad choices. Visit podcastchoices.com/adchoices

July 30, 202639 min

The Universal Code

In this special episode of The Journey Man, Raoul has decided to unlock his Exponentialist presentation on The Universal Code. Raoul walks through his thought process step by step and unveils how everything, including ourselves, is governed by one code. Recorded April 3, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Learn more about your ad choices. Visit podcastchoices.com/adchoices

July 16, 202632 min

The AI Revolution: How to Invest

Raoul explores how AI, robotics, and blockchain could drive an economic singularity and radically reshape work, growth, and investing by 2030. He argues that the best response is to embrace the disruption, use AI, and invest in the long-term technologies transforming the global economy. Recorded July 9, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Learn more about your ad choices. Visit podcastchoices.com/adchoices

July 2, 20261 hr 6 min

Prediction Markets, AI and the Future of Finance

Raoul Pal and Tarek Mansour, co-founder and ceo of Kalshi, explore how prediction markets, super forecasters, and regulated crypto perps are reshaping the way people trade, price risk, and filter truth from noise. Recorded June 24, 2026. And don't forget we're offering our lowest prices ever right now and you can lock them in for life. Just visit realvision.com/pricing. Offers ends July 4, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Learn more about your ad choices. Visit podcastchoices.com/adchoices

July 1, 202646 min

Drinks with Raoul: June 25, 2026

In this special episode of Drinks with Raoul, Raoul is back to reveal the 10 community members who've won 1K USDC before he dives into the rest of your questions. And don't forget, Real Vision is offering its lowest prices ever for a limited time only. Join or upgrade now at realvision.com/pricing. Learn more about your ad choices. Visit podcastchoices.com/adchoices

June 18, 20261 hr 8 min

The AI Privacy War

Raoul welcomes back Eric Voorhees, founder of Venice.ai, to explore how Bitcoin, crypto, and open-source AI are converging around the core principle of self-sovereignty. Voorhees argues that privacy, uncensored AI, and personal data ownership will become essential as AI moves deeper into our thoughts, work, money, and identity. Recorded June 11, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices

June 11, 20261 hr 15 min

The AI Supercycle with Jordi Visser | Raoul Pal the Journey Man

Raoul welcomes back Jordi Visser to break down how AI is creating a massive supercycle, driven by compute, energy, agents, data centers, and an explosion in intelligence. Raoul and Jordi also explore how crypto, tokenization, personal AI “vaults,” and the invisible data economy could unlock new markets, new productivity, and major investment rotations beyond just Nvidia and the current AI leaders. Recorded June 4, 2026. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Learn more about your ad choices. Visit podcastchoices.com/adchoices