Raoul Pal: Four Frameworks, One Code

🏆 The Real Vision Trading League is now open! The best trade ideas on the platform compete for $80,000 in cash and $20,000 in Real Vision memberships. Register for free to secure your spot. 📈 Trading League: https://realvision.com/your-future?utm_medium=social&utm_source=youtube&utm_campaign=2026_uyf&utm_content=journey-man Why does growth keep slowing? Why does everything feel so expensive? Why do assets keep going up while wages feel flat? And why is AI arriving right now? They sound like four different questions. Raoul Pal says they have one answer, and this film lays it out: four frameworks built over 21 years of Global Macro Investor (GMI), and the single code underneath them. The full story is in my new book, The Everything Code (out 3 November): https://lnk.to/everythingcode THE FOUR FRAMEWORKS 1. The Everything Code. Debt, demographics and liquidity working together to drive asset prices through debasement. Why growth slows, why debt has to be rolled over with ever more liquidity, and how GMI's calls have fared, the ones that worked and the ones that did not. 2. The Exponential Age. Every major technology going exponential at the same time, for the first time in history, each one feeding the others. Energy, compute and intelligence, and an honest look at how fast it is really moving. 3. The Economic Singularity. The point where the economic models of the last 250 years stop working, because the economy accelerates past what our instruments can measure. Raoul's view is around 2030. 4. The Universal Code. The framework underneath the other three. Everything is compute, and four laws (intelligence efficiency, compression, coherence and memetic selection) show up at every scale, from physics and biology to technology, culture and markets. Raoul is clear that this is his thesis: it is on firm ground, and it is not proven. After the four chapters comes a short section on what to own, in three layers (the token producers, the application layer and the substrate). Then the film zooms all the way out in powers of ten, from quarks to the cosmic web, which looks strikingly like a brain's network of neurons. CHAPTERS 0:00 Intro 1:36 Chapter 1: The Everything Code 10:45 Chapter 2: The Exponential Age 18:28 Chapter 3: The Economic Singularity 25:15 Chapter 4: The Universal Code 33:20 What to own 35:54 The zoom-out ABOUT THE VOICE The narration in this film is synthetic. It is an AI clone of Raoul Pal's own voice, reading a script that Raoul approved. The pictures are animated graphics and illustrations made for this film. There is no filmed footage. #OneCode #GlobalMacroInvestor #Macro Learn more about your ad choices. Visit podcastchoices.com/adchoices