Impending Elections and Mass Stimulus To Be Very Positive for Crypto, Says Real Vision Founder Raoul Pal
Former Goldman Sachs executive Raoul Pal believes that two major catalysts will have a positive impact on crypto assets in 2024. In an interview with Anthony Scaramucci on the Wealthion YouTube channel, Pal explains that upcoming stimulus packages around the world, including in the US, will boost the digital assets industry. He notes that politicians tend to provide stimulus packages during elections, leading to higher inflation and increased prices for digital assets.
Pal predicts that China, Europe, and eventually the US will stimulate their economies due to factors such as aging populations and high debts. This increased stimulus will result in a decrease in the value of money and a rise in asset prices. However, wages are unlikely to increase at the same rate, leading to a decrease in purchasing power for individuals.
Pal further highlights how fiat currency debasement through inflation is equivalent to hidden taxes. As asset prices rise, investors are stripped of their ability to purchase assets due to their increasing costs. This results in a socialization of costs as individuals lose the power to buy assets.
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