🔴 Wen Banana Zone? - Drinks With Raoul Pal (Round 17)

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Okay, [ __ ] We're live from Spain. It's Drinks with Ral. Let the chaos begin. Just so you know what you get out of this show: This show is generally me looking at myself on a video screen whilst getting shitfaced, insulting you, and trying to add some alpha to your day as well and generally having a laugh. Um, so I will, as ever, go through some culture because you guys are, as we've endlessly discussed, fellow science; you need sort of cultural training, let's put it that way, because you've all been stuck at home. You don't go out much anymore. You're all pretty miserable. You smell as well. You probably need a bath or a shower maybe. But also, you need to just get to the finer things in life. If we're all gonna get rich and we're gonna unfuck our futures, you can't be eating [ __ ] McDonald's.

So, okay. So, that's where we get to. We're gonna do the impossible this time, and I don't know if I can do it. I don't have a safety net, but I'm trying to taste three different wines with you today without getting dribbling drunk. Um, I can't promise anything. If I'm slurring at the end, uh, just humor me. Um, I'm an old man. I can't drink as much as I used to. Um, but we're going to do the best of Spain because I'm in Spain. Last time, if you remember, I was in Texas and we did the best of Texas. We had blue buzz balls. We had chick fillet, which looks like chick filler, but I've no [ __ ] idea what that is. Um, we had all sorts of Texas delights that I thought represented best the culinary delights of that particular state and many of the other states of the United States. So, now we'll go to Spain and we'll do a slight comparison, uh, of the culture and the quality that we have available to us here. So, we won't have buzz balls this time. We've got three different wines, uh, and we're going to pair them with snacks, always because you are a total brute unless you actually drink with a snack.

And there's also an order to drinks. Again, we talk about you guys. Some of you drink a cocktail through dinner. No, you can have a cocktail beforehand, a martini and negrroni, but you can't drink it through dinner. Drinking whiskey through dinner is just—it's just wrong. It's all wrong. You have to start, you have to tease the pallet. You have to coax yourself into a meal. Then you have to digest and enhance the flavor, digest the meal. That's the way we do things here. And you never drink on an empty stomach because that's just simply uncultured. Okay, so we're going to start. And I've got what I think are three unbelievably undervalued, incredible wines from Spain. Um, that I think on a global level are some of the best wines in the world and their cheapest chips. So, the most expensive I think is going to be the sparkling, which is a corpinet, which is fancy car. We'll talk about that in a sec. That's about $50, $50. Uh, then we've got an Alberinho, a white, crispy white. We've we've had that on the show before as well. um that's about €25. Um and then we've got um a Rioa which is probably about €35. So these are not expensive wines. Everyone can play along. Come along for the ride. Some of them a little bit more difficult to get, but you can get variations of them.

So first we're going to start with a Coronet. Corpet is the region, the wine region in Spain that splintered off from Carver, which is the sparkling wine, because they didn't think the standards were high enough and they set their own one up. And there's a bunch of renegades who went across, this is only like 10, 15 years ago. And so now they produce the finest quality sparkling wines, method champs in the French way. Um, absolutely brilliant wine from Spain. Different grapes than the French will use. The French will use pon noir or Chardonnay. Uh the the Spanish is a variety of grapes. So this is Gmona Lustros which is like the highest end of the highest end which is €50 and it is a gorgeous sparkling wine and it's hot as bulls here. It's like 40 something degrees which in freedom measurements is I don't know 90 something 100. Um but um so we want to start with something fresh. We want to freshen the planet. We got a lot of food to get through. We got things to get through. We got a lot of charts to get through. A lot of alpha and then a bunch of questions on the Real Vision platform. Reminder, I'll only answer the questions on the Real Vision platform. If you're too [ __ ] lazy, not joined, just do it now or I [ __ ] on about wine for a while. Just go to realvision.com/join. Sign up for free. You can ask me questions there. I'll try and go through as many questions as possible. This is supposed to run for an hour, never does. Generally, I start getting drunk and enthusiastic. Usually runs for an hour and a half, maybe a bit more.

So, anyway, so what we've got here is a kind of salty, clean, delicious um sparkling wine, but it's got depth and kind of butteriness to it. So, again, so I'm going to start with something. This might gross a few people out. This is called, this is a snack. There's three bandelos or sometimes called hilders in Spain and what they are is is salty and vinegary. So why salt and vinegar early in your meal in Spain and other Mediterranean countries? It gets the saliva glands flowing which starts getting your appetite going. Same with a crispy, clean, cold wine. It all starts thinking, you know what, I could get some food going now. Let's have a little chat and then we'll talk a bit more and we'll have another glass and then we'll think about some food. So if you remember that's wine is kind of saline. It's got that clean crispy saltiness. So when you add this which is a weird looking creature. It's actually like there's little pickled genders which are like mini chilies. They're not hot. Um there's some um bokaronis which is um pickled anchovi and um some olives. So, not very elegant to eat, but [ __ ] delicious. Salty, vinegary, bit of spice to it. A bit of a umami from the olive. Um, it's amazing. A little bit slight fishiness from the boaroni. And then you wash it down with this. As good as it gets. That's how we start on the hot summer's evening here in Spain. We start, we prepare properly, and we start moving.

Now, I put out a tweet the other day about Spanish food. And I've said this repeatedly on this show: Spanish food is without question the best food in the world. And I know this is contentious to all you Americans who seem to worship Italy because it's got [ __ ] pizza and pasta, but honestly, it's not that great. Not everything needs a [ __ ] red sauce with it or parmesan cheese on it. Um, what you find in Spain is they kind of worship the the the actual ingredient itself, whether it's the fish or the vegetable, whatever it may be, is treated with utter respect. They don't [ __ ] around with it. So, you get this incredible freshness, um, incredible cleanness to the food that doesn't exist in most other places. Japan is very similar in that respect. Obviously, different preparation of food, but that same utter respect. So, we're going to try this other banelera now because it's they're really good and it makes you want more cuz the the um the saliva is like this is good. So, Spanish food to me is incredible. I think my favorite restaurant in the world is a fish restaurant in Madrid called Oatho. O apostrophe P A Z O or Z O which is unbelievable. It's just it's like a high temple to seafood. Utterly clean, utterly perfect, amazing wine list, not too expensive. Restaurants fancy, but you get out of that with a unbelievable food experience. Like the best prawns in the world are from Denia in Spain and they do these prawns alaplancher very quickly. They're soft succulent. You suck the head of the prawn and it's like a fish base. It's unbelievably good. They do these um langustines split and then slightly charred delicious squeeze of lemon juice. Just simple food done exquisitly. All different types of clams and stuff going on. And then you'll have a a a grilled fish or a fish in sea cr in salt crust, whatever. Just exceptional. And all over Spain, everywhere you go, every restaurant serves something great. So that's my Spain thing. I absolutely [ __ ] love it here.

Um, you know, I've traveled to 121 countries in the world. I know there's going to be a bunch of Portuguese people or people living in Portugal. What about us? You don't count. A, you're really part of Spain. Just speak with a weird accent. Secondly, you've only got the Atlantic. Spain has the Mediterranean and the Atlantic, which is what makes it different. Makes it different from its growing climate to its wines. Portugal has great wines and great food. The Atlantic seafood is amazing. Um, but you're missing the Mediterranean touch. So, I know you want to think you're amazing. Um, also another good thing to know here is steak in Spain is the best in the world. Generally gets voted as the best in the world. Place called Casahulian up in Toso near San Sebastian. Unbelievable. Not expensive. They serve one dish which is chilaton which is a chop steak chop um which is 5-year-old um xdairy cows and then they're matured hung dry you know dry-aged cooked over a wood fire just off the map good but all over Spain amazing steaks okay now for those of you who didn't join for the culture I'm sorry you actually need to be cultured those of you are like when banana when when the charts when the alpha. This is the actual alpha because if you actually do make any money out of this market, you'll be wanting to do something like this.

Okay, I'm going to probably move on to the next wine to go to the next section. Um, I'm trying to think. Sorry, when I put that tweet out, the Greeks also like, "What about our food?" Your food is great. Um, your food is also good. All the Mediterranean food is good, but nothing I to me gets close to Spain. If you just look at the top restaurants in the world, how many are Spanish? It's pretty amazing. Okay, so next wine cuz we need I think we need a salty, clean, fresh white to go with the next part of this show, which is how abusive you lot are and how much abuse I have to deal with. It's my mean tweet section. So for mean sweets I think the only way to do it is with a elberinho um from Ria Bas which is northern Spain super clean super salty it's in the esties around northern Spain so it gets the Atlantic air with the salt still gets the Spanish sun but it keeps it cool so what you get is a low alcohol very crispy very saline because the salt and it goes amazing amazing with seafood, but it goes amazing with most things and it goes amazingly well with insults. So, I'm ready for the insults. We'll go through those in a second as we bring them up. But let's talk about this wine. This is um this is just exquisite. I've become addicted to this stuff. You know, I I was a white Burgundy man through and through. Pini Morish, Shassan Morish, Shabi Premier Crew, Sansban, etc. And now I I can't get enough of this stuff. It's like a fraction of the price. I mean, it costs nothing. I had one of the best bottles ever, Pathosurans Anida, I think it's called, um, in uh, in Opatho in Madrid. And that was like 90 in a fancy restaurant. And that was about the best white wine in all of Spain. It's incredible stuff. It smells kind of fresh grass, clean air, the salty sea. You kind of visit the the green fields up there. It's not dry like other parts of Spain. And it's just delicious. Has a little background sweetness. So what we're going to have this with before we get into the insult is we're going to go really up market. Kosalito ham baro is voted the greatest ham on earth. This and 5Js or pinocoas are the best ham in the world. There's no comparison anywhere else in the world. No pursuit and all that stuff. Not even close. This stuff is like the [ __ ] altar of pork. It's the greatest ham on earth. Acorn-fed pigs that live wild, blackleg eberico pigs. Um, and it creates a an oiliness that comes from the oleic acid within the biota, the the the acorn. Um, it's actually it lowers your cholesterol, bizarrely enough. But incredible stuff. And this was handcarved in the market this morning. I went to a local market, big Mediterranean market. Um, got some handcarved um, ham on and it's like this deep sweet sweet umami. It's indescribable. There's nothing like there's nothing like it. Um, it also just melts in your mouth. It's rich, delicious, but not too heavy because you only have small pieces of it. Little swig of wine. Clean the palette. And this time I'm going to go with a bit of aged sheep's cheese. Um, which is typical of Spain. And again, it's got that salty sharpness that sheep's cheese has. It has the the herbs of the rosemary and the thyme that these sheep eat up in the hills. And again, it it gets the pallet going. That's what we're trying to do here is get the pallet going. We got more food to go. Bit of wine.

Okay. Now, I thought it would be a bit of fun to actually read out some of the insults I get cuz I get [ __ ] millions all day, every day. Some salty Bitcoin maxi, some salty X macro guy. Um, just random ones. So, let's start with the first one. I think hopefully you can see it on screen now. marketwizard.net. Ral, can you tell me how you became so rich with such IQ? So, thank you. Thank you for that. I mean, as you know, I failed I failed university. I failed uh school when I was 18. I had to go back retake my exams. I got into only one university because I was a crappy student. Maybe I have a low IQ. Maybe I'm just a left curver. Maybe that's the thing. Now the God that cheese is epic. Can't describe it because you eat [ __ ] cheddar and it's some mass-produced cheddar or some awful kind of Swiss cheese from a packet and you think this is the you know, oh no, mozzarella. You think this is the highest end of all of cheese. You guys really got to get with the program. There's America has some good cheeses. I did it last time in Texas. But you know, you come to other countries, cheese is just a way of life. It's a it's an incredible thing to learn. There's a whole journey of cheese. Anyway, Joel Owing, next insult. Listening to you for the last 6 months has [ __ ] my future. We'll come on to this in a little bit because last thing I remember, we've been pretty accurate in everything that we've said. And maybe Joel, maybe you sh pick [ __ ] tokens. I'm sorry, my friend. Okay, the other thing I've been doing is buying a lot of art. You've seen my tweets. I buy a lot of crypto art. I love it. I've explained my thesis. I'll do a show on it at some point just to talk it through in more detail. At the beginning of the show was a piece of crypto art. It's actually a t-shirt from a good friend of mine, Dy with the most likes, who is for me one of the most incredible artists. He lives in Indiana and he comments on that small town America, middle America, and the kind of decay of middle America, but he also loves it. So, he's it's kind of this lovehate relationship with it. He's become super famous in the space. Um, those of you who haven't seen his Gristle Buddies, his latest kind of PFP thing, it's a lot of fun, but amazing guy. Anyway, he made that t-shirt for me. Um, and I thought it was brilliant to start with, but let's go back to the art. Sorry, I missed the last comment. Paul, can you roll back to the last one? So, I was showing Neuro Color, which is a artist from Mexico that I really love. Really vibrant, incredible color, kind of living, breathing stuff. Cam Lee, NFT New Zealand. This is absolute [ __ ] What a waste of money. Thank you, Cam. That's really interesting. Other people are like, oh, you know, I love Neuro College style or it doesn't suit my style. This is [ __ ] What a waste of money. Thank you, Cam. I'm uh I'm gonna be happily wasting my money for a long time on Okay, next comment. Jeremy, OG treats, you are so [ __ ] delusional. OG treats, I'm I'm so grateful for pointing out the obvious. I am delusional. Um, I'm drinking three bottles of wine while watching myself on screen and trying to entertain myself and hoping that you guys pick it up. I think it's pretty delusional. Um, also, you're probably thinking, everyone's going to be saying I'm [ __ ] delusional about the idea that Spanish food is the best in the world. I can't help you guys. I simply can't help you. You're you're just reading what you think because you once went on a cruise ship and you stopped in Italy for one day and you think you now know Italian food. Oh, and because you went into the restaurant in New Jersey and you had pasta with tomato sauce, or you went to the Olive Garden, the temple of Italian food, it must be good, right? Um, okay. Bitcoin News 21 Crypto News. No, obviously not a maxi. Probably a really nice person. Go play with your banana. Well, thank you, Bitcoin News. I will do so. Um, and enjoy it with a fine glass of wine. I need to figure out what went to have with that.

Okay, intermission. If you do, if you do happen to stumble across a drug dealer in the streets of Spain, side up to him quietly. And this is Listen, this is real alpha, right? Real alpha. You find the drug dealer, pull him aside, go and ask for this pop tole. Okay. Um, original sin cascara. This is basically crack but amped up to ultra addiction levels. I don't think you can ever try this and not be begging in the streets for money to feed yourself your cocktile habit. It's the most delicious snack of stuff like peanuts and toasted corn and other stuff. I don't know. Anyway, find your drug dealer. Get that. This is total alpha. It will probably ruin your life. You'll go bankrupt because of it. You'll be crying in the streets. your relationships will fall apart, but it's worth it. It's really bloody good. Okay. Okay. Next, next mean tweet. Let's go. Smash Toshi Schmick Makamom. Um, Ral's banana is a potato. You haven't seen my banana, my friend. I've only do head shot. But if that's how you fantasize, that's fine by me. You do you. I'll do me. Meanwhile, I'll eat a weird looking snack. Well, okay. Now, this guy, Trey the Stampede, Bell, Trey X, Donovan. Um, he put lots of mean tweets about me in the last couple of days. Um, and this one I thought was stood out. [ __ ] Never follow this dude for projections. He just provides updates. This is his last s cycle. Laughing my ass off. Thank you, Trey. Um, you don't need to follow me at all. I don't know why you do, but you feel driven to tell me that I'm a total [ __ ] and that I've been entirely wrong. And you know, one thing I'm lucky about is because I get attacked for this all the time. You've lost money. You're you irresponsibly long e blah blah blah. I have a recorded track record since 2005 of everything I've ever done. So, it's fully confirmed and everything I've ever done in Real Vision Pro, it's all there. And how we switch from Bitcoin to ETH to Salana to Suie, all of that stuff all there. How we've just made a 10x in Robin Hood call options, it's all there. All my losses are there, too. You can check it.

All out. I think, without question, it's GMI is the best-performing macro research service, research service, of any type of all time. Um, been [ __ ] lucky, right? It's not because I have a high IQ, as pointed out earlier. It's because I'm lucky. Um, and I don't know. I'm not going right. Okay, let's go into the next insult.

Steven Bunner, you're getting more gray every day. Lol. I hope it's due to good Spanish wine and not due to the markets. Much love. This is true. I look like [ __ ] Father Christmas. It's weird, right? Because mentally, I mean, I'm 57, but I think of myself as like 43, 42. And so, you got this weird lag with your face in the mirror and and how old do you feel? And look, I don't think I look that bad. Um, I've aged pretty well, but what is this all about? Why does that happen? And, you know, I I I use oil in my hair. You need to know my beauty regime, but I use uh oil. Um, I don't use gels or anything else. Use oil. I've used almond oil, stuff like that, and on my skin and my hair, and that actually makes my hair look less gray. But when there's no oil in it, it's going gray as well. I'm like really, really. So I'm now I'm going to lean into the George Clooney salt and pepper handsome old man kind of kind of vibe, you know, where I can snob on about wines and culture. Um, and you think because I got a gray beard and know what I'm talking about. Frankly, I don't. I haven't got a [ __ ] clue.

Okay, these snacks and this is all, it's too good. It's distracting me cuz I want to go back to La Carava because it was they're coping that cuz it was fantastic. I'm really enjoying the Alberinho. I still haven't finished these um, so I've got no dinner cuz it's what it's 8:30 in Spain. Although you normally eat at 9:30. Uh, I'm not going to get out because I'm going to be [ __ ] face by the time I get there. So, you're kind of having dinner with me. I hope you're mad. I do a bit of talking with my mouth open. I know it's not culture, but if not, we're going to have these long pauses and it's going to be stupid. So, you have to bear with me. Um, okay. Those are so good. I can't express these are simple things. I went to the market and I bought cina longa, the ham, on a barerico, the cheese, these bandelas, and I probably spent €40 of like the the finest ham in the world, some of the finest things in the world, it cost nothing.

Okay, let's go to the next insult. Plan C, Durk Jansen or Yanzen. It was always obvious that Ral had self-interest supporting his VC project. Thanks for confirming. This guy is one of the worst cancers in the space. I I never understand this. So this was the announcement. No, this was the chart of Sooie, which I like. We've got the track record of when we invested in it and how just me endlessly saying I'm on the foundation, but I also love this and I've got most of my net worth in this because I think the chart is better than others. The VC project, right? So what does venture capital do? It bootstraps early-stage projects when it's riskiest and then delivers um and then hopefully it delivers some returns and then others can get involved. Anybody who bought Suie after it launched, it went down because people there unlocks blah blah blah and then it's gone up to new highs. Everyone's fine over time. Just look at the chart of Robin Hood. Look at the chart of Coinbase. It's the same [ __ ]. That's how companies raise enough money because, sorry, many of these are huge projects. And to say that I'm a cancer because I like the chart is so ridiculous. It's so preposterous because what I actually left out is I don't like your coin. And that's what happens here. People have this zero mindset. This this this mindset of a of a finite pie. You don't like my coin, you're against me, and you don't agree with me. Guess what? I've been in markets for 30 years. Nobody [ __ ] ever agrees with each other about anything. And over time, you figure out who gets it more right and who gets it more wrong. And even the people who get it right a lot get it wrong. And that's okay. But the worst cancer in the space for confirming by putting a chart up on Twitter to say I think the chart sui looks good. Really? Really, dude? I think you need to maybe have a glass of wine, look at yourself in the mirror and say, you know what, maybe I could just be nice.

That's what I learned in the end is there's many opportunities in life to argue with people, to fight with people, to prove your point, to insist that you're right. In the end, it's actually better just to be nice and realize that people have different views. Somebody likes a piece of art, you don't like it. Great. I'm happy you bought it. I'm pleased you're excited. You've bought a token. Uh, you think you've you figured out a really good story behind it. It's not one I like. Good for you. I hope it works out. I hope everybody succeeds because that's how we unfuck our future. It's not from robbing one person against the other. It's about all succeeding. And there is no one answer. Anything I say should only be one of the inputs for you. Your input should be based on what you think. Learning from us. That's what we do at Real Vision. Try and educate you, give you frameworks of understanding. And listen again, if you haven't joined Real Vision, you and you're online and you're getting confused and you're getting angry, go to Real Vision. I promise you, it will change. Really, the the key thing for you is get to the go for free. Go there for free, but then check out Real Vision Alpha. That's where Julian Patel and my macro investing tool is where we give you the framework. That's when you get exposure to Andreas Olson. That's when you hear Julian Battel and myself doing the shooting the [ __ ] where we just talk about how we're seeing markets, stuff like that. It'll give you the framework of understanding. You get to use our AI. You get to understand how to do stuff. There's an AI of me where you can talk to it normally and ask me questions. It's trained on all my content and it will help you. But being chippy on Twitter because you're stupid doesn't help anybody. We're all stupid at some points in the journey. And just accept that.

That was the reason I gave up golf. By the way, is I was [ __ ] at golf cuz I'm not coordinated. I'm like Bambi on ice cuz I'm too tall, lots of limbs, no coordination. I kind of my eyesight's over here. Things happen on the ground down there because I'm 6'4 and it's like not great. Anyway, I hacked my way around a golf course with friends for several years. And eventually I was in a golf course in Spain, actually. And I was slicing and hacking and just [ __ ] it all up. Just nothing came together. And there was these Dutch people behind me. I'm half Dutch, so I can insult them. Dutch can be really, really, really rude. And they were just tutting at me. You shouldn't be on the golf course. I'm like, well, I've got to learn. Yeah, but not when we're playing golf. I'm like, A, they force you to wear stupid clothes. B, you then not allowed to learn on the golf course, but heaven forbid you hold somebody up. Um, and then they're all snobbish about golf club memberships and all of that. I just got my bags, my clubs, threw them in the bin, walked off, and said, "I'm never [ __ ] playing this sport again because it's not a sport. It's just a a beautiful walk ruined uh by short grass."

Okay, let's get back to the insults. Okay. Up, down, down, left, right, decks over sex. Um, I'm showing Kim Asendor. Kim Asendorf is somebody who's an artist that is a cutting-edge pioneer of computer art. And that's not AI-driven so much as computer art. It's like doing new extraordinary things where each pixel is is a is a separate token that forms this collage that you can move around and you can choose the number of pixels. You can buy more pixels, less pixels. It's one of the most extraordinary things I've ever seen. I saw it at Ian Rogers' house um the guy from Ledger in Paris and I'm like I love this, right. It's an amazing thing. Up, down, down, left, right. Worth zero. Maybe it is, maybe it isn't. It's [ __ ] art. Doesn't matter. Do you like it? No, I don't really like that or don't really get it. That's okay. Worth zero. Just people just are the worst. I mean, not you lot. You lot are lovely, but I just don't know what drives people. I just don't go around doing that. It's all right to troll occasionally, but it's just like I don't know what's their problem. It's just the weirdest thing. Um, okay, next one.

Okay, Michael B3909. YouTube comments are a particular cesspool of awfulness. I don't know why. I guess because it's not like an engagement tool like Twitter where you're talking to each other. It's just a new level of awfulness generally. So, Michael, please stop with this banana zone crap. There isn't one. There isn't going to be one. Most alts are way below all-time highs. Keep earning your income from your online channel. I would. So, we're going to go into this whole when banana thing in a sec. So what people confuse is that when their allocations, their alts isn't doing okay or it's experiencing more volatility than Bitcoin, which is normal, they lose their [ __ ] [ __ ]. And I get it. Everyone's hopes and dreams are in all of this. But I don't know what allocation they've got, but it becomes this emotional reaction. And it's so weird. It will all work out over time. I'll show you the charts. The banana zone is in play, has been in play since last year. We've given you the road map. We'll talk about it. It's just you just need to relax a little bit. Anything way below the all-time high, that's okay. Everything is, including Ethereum, Salana, all of it. Some of some have hit new all-time highs this year. New cycle tokens, obviously, it'll all work out over time. Patience is something. Patience you don't get. You have to trade off something to make money. That is the risk-reward. And the risk-reward in this space is you can make extraordinary returns if you make the right allocation and you stomach preposterous amounts of volatility, which makes it hard because you don't know whether you made the right allocation because it's volatile. Which is why I talk about looking at the relative charts. Is my favorite bag outperforming Salana? Yes or no? If it's not, don't own it. Is it outperforming Bitcoin? Has it been on a weekly chart? Don't show me like the hourly chart of the last few days. Like, look at this. It's amazing. That's [ __ ]. Show me a weekly chart over time trending. And if it's doing it, great. You're on to something. If not, shut the [ __ ] up. Thank you. Next.

Um, Bobby Bob crypto aerobase. Why does crypto suck ass? Because exactly my point. Crypto is not easy. It is not a gift from the gods that comes without pain. No, no, no, no. The gods are going to flay you, whip you, fry you, rip your skin off, and then deliver you to heaven. That's the way it goes. It's [ __ ]. It's not easy. Oh, why do you think I've got a great beard? For God's sake. Okay, next. I don't know what I'm I don't know what I'm enjoying more. That was the last That was the last one. I don't know what I'm enjoying more. I'm just going to go back. Sorry. I'm now flitting between drink. This is the problem I warned you about. I'm going to end up drinking one and a half bottles of wine in front of you all. It's going to be embarrassing. Um, my girlfriend will disown me. Actually, she won't. She'll laugh at me. Um, but um but I'll become a liability. I'll start swearing more as well as you know. I'll be vaping soon as well as you know because that's what happens when you're speaking to yourself, entertaining 250,000 people and uh having a family good time. I don't know what it says about me. Says something weird about me. I'm going to go back to the to the corpette. These are so both so good. It's like and I'm I'm on the ham and the cheese.

So, let's talk about when banana when banana comes up in every [ __ ] tweet. When banana and I just think and I trolled actually Julian Battel with this cuz he put something out when banana cuz it drives me [ __ ] insane, which was why Dy had made the t-shirt about it as well. Guy with the most likes. That whole t-shirt print was a kind of tongue and cheek to this. It's like I've given you literally the chart that everybody in the world copied, the M2 chart. I've given you the long-term 90% correlation chart of global liquidity. I've given you the entire everything code framework, and it's all been playing out. We haven't really put a foot wrong. The volatility is part of the game. We've explained it. We gave you the don't [ __ ] this up rules. And yet when banana and the dimwitted ninnies who were Yes, dimwitted ninnies. That's my new term of affection for the when banana crowd. And feel free to put when banana all over Twitter now because you can troll me. I don't mind as long as it's done with your humor. um is the the web banana is like there's the chart of M2 that's been working that we nailed the exact low in September with and said this is the low based on liquidity on our analysis that we've been working on for 30 years here it is this is the subtle banana zone then Bitcoin doubles goes up 5x pulls back 50% Bitcoin pulls back a bit 20% everyone's like where's the [ __ ] bra then it goes up. Bitcoin's now pretty much back to almost all-time highs today. When banana, well's down from all-time highs, but it's still up since then. And we've explained the correction zone. We've explained that ultim volatile Bitcoin. And so what normally happens is the altcoin season comes. The chart actually shows you where it's going to go. Will it be exact? No. Will it vary from that? Yes. Is it directionally right? Yes. 100%. 90% of all of the price action of Bitcoin is driven by one factor. It's the easiest [ __ ] trade in the world. One factor, liquidity. And if you want to approximate liquidity, use global M2. If you can't even bother with global M2, just look what the dollar is doing. Go back and well, look what the dollar is doing today and go back in a few like six months, nine months, whatever the number is. Can't remember now because I've had a couple of drinks, but it basically tells you what's going to happen. It's macro. So, it's not magic. And then then within the tokens themselves, it's not that difficult. It's all about network adoption, number of active users, total value transacted, and then it's is the chart outperforming Bitcoin, Ethereum, Salana. Um, and it's it's that, but the dimwitted ninnies went banana when the [ __ ] chart is there. I'll go through the chart in a sec, guys. What's wrong with you? And again, I know our hopes and dreams are tied in this. It's frustrating when the market does nothing for a while, chops around, and your alts bleed. It's part of the game. Unless you're being hung, drawn, and quartered, and flailed, you don't deserve to be here because that's what it takes. Honestly, it does. It's not the easiest game in the world, right? But once you get used to it, you kind of just laugh at it and just gets a bit boring. You know, Sue, which is my main bet, down 50%. I'm still up huge because of the allocation swi switch that I did. And it's okay. It's okay. I've been down 90% twice in bare markets. It's okay because you look at the long-term adoption curve and you try and do the right things, which is compounding in sell-offs. Buy when the market's down. If we're not near the end of the cycle, then you keep going.

So, right, I'm already 43 minutes in. We've not even got to the [ __ ] alpha stage yet. I'm still in drinking wine, enjoying myself phase. Um, right. I think for the alpha stage, I do red. No, I'm going to go to I I'll finish by Carver, then we'll go to red, different snacks, and then I can drink what the [ __ ] I want. You can do whatever you want. I don't care. You can start drinking Bud Light. I don't care. Oh, it's Fourth of July coming up. This is a hilarious moment of culture where the Brits celebrate the fact that we got rid of you lot. You get you're you celebrate you got rid of us, you know, because of some [ __ ] tariff over tea. Look at you guys now. Oh, yeah. Not that smart now, are we? It's the same thing, right? You're doing it to everybody else. Um, and um no taxation without representation. I don't see many Chinese voting for you. Um, so that's um and then you set off fireworks and I mean I don't know what you eat really. I've I've spent a lot of time in the US and the more time I spent outside of Miami and New York and LA is the more shocked I am about what the [ __ ] you guys eat. It's just it's it's it's good for you. It's your culture. You love it. Um, and I love it, the fact that you love it. Um, so cheers. If you want to put, I don't know, sweet cream on top of potatoes and then bacon bits and some mozzarella, you do you. Just do that. I'm so happy for you. Maybe sprinkle some sugar on top and then use one of those guns and burn it a bit and call that a delicacy. You do you. It's amazing. Um, okay. Let's go to the presentation cuz I'm wittering on. Um, presentation. Presentation. Where the [ __ ] is it? Um, see, this is the issue, right? After a couple of drinks, it all starts falling apart because I'm now having fun talking to myself, thinking, "Oh my god, people are going to be so upset with me." Which is amusing because I don't troll on Twitter. I don't troll anyone. This is where I troll you lot for being barbaric Philistines who don't know what the [ __ ] you're doing. And I abuse you and call you what was the exact phrase again? Um, dimwitted ninnies. I think that's pretty fair. I've called you [ __ ] occasionally and I think that that's fair as well. Uh, you can deal with that. Uh, and you call me everything under the sun. Generally handsome, charming, and um, cultured. Those are generally what you call me online. I say it all the time. Generally, I'll rather say handsome, cultured, and charming. Thank you. That's so kind of you. Let's keep doing that. No, you just call me a [ __ ] all day. Um, it's extraordinary. Maybe that's the first time it's the C word. I do like that word. I'm sorry. Some people get very offended. Again, I Anyway, we've talked about this. I'm trying to drink three bowls of wine all at the same time. It's going to get ugly. There's nothing I can say about it. Um, okay. Let's share this screen. Jillian nicely called it drinks with real. That's me. These are the drinks we're I'm having. Hopefully you guys are drinking along at home because there is no other show like this on the internet as far as I know. I'm pretty proud of it because it's just an utter ridiculous [ __ ] show of a show. It makes me laugh, makes you laugh. Um, and sometimes I get something like, "Oh, I wish you'd stop swearing so much. How can you call your audience dimwitted ninnies?" Um, it's just part of it. It's just part of the magic of the show, which is [ __ ] great. I mean, I go back and rewatch this because I see the comments. I see everything. And I just I love it. It's just hilarious. And I love doing it. And I love showing people about food and wine. By the way, that the um the the Ralebot on Real Vision, you click on the top left-hand side, you see the picture of me, you click on that, you can ask it questions. It's trained on wine books as well. So I've given it books to train. So you can ask it about food and wine, travel, macro, crypto, anything. You name it, it's all there. So um make use of it because it's an incredibly powerful thing. I've trained it on a ton of proprietary stuff for me. That's just the start of where that's going as we build out the platform. What's another thing while

We're here before we get into this? If you think I'm going to add value for you at the end of it, just go to realvision.com/join. Sign up for free if you're watching this elsewhere. If you're watching this free on Real Vision, and I thank you for being there, it's about time you upgraded. I mean, we just did the [__] campaign. It was a great campaign. Many of you did, but a bunch of you didn't do it. I'm like, we're trying to help you. Sign up for Real Vision Alpha, Real Vision Connect, or Real Vision Pro where the real value is.

So, this presentation is from Real Vision Alpha, Pro, all of that stuff. In Pro, the difference is you get to speak to Julian and I. I mean, we literally have Zoom calls with everybody, talk about stuff, talk about portfolios, talk about what you're thinking about stuff. So, um, that's the pro. You get access to us in, um, in plus you get to hear us talking about stuff, but also you get MIT, which comes out weekly that literally gives you the road map for the global economy and markets, and yet you're trolling on X saying when banana oh round charges for subscriptions. Are you [__] stupid? Obviously I do, cuz this is incredible stuff. Right. Let's do it. We're running so late. I don't care. Um, I'm on my own here currently because my girlfriend's gone back to Texas for the 4th of July. Uh, and abandoned me. So, I'm just drinking on my own and talking to you lot. So, I've got all the time in the world. Um, okay.

So, lot of chance to get through lots of alpha. Ready? One, three, two, one. Okay. The Trump cycle 2017, we've been talking about this. Trump came in, the markets reacted. Same fear about tariffs, same thing. The dollar went up, everything else. And the same thing happened this time around. I mean, people are people. And what happened is the dollar ripped in the back end of 2016. It ripped in the back end of 2024. The dollar ripping is a tightening of financial conditions that play through markets and the economy three months later, which is why we had the correction in the first quarter. We showed you all of this as part of the M2 thing. Anyway, we said it at the time; we've been tracking this before the the dollar topped out and said he's going to go for a weak dollar. They said they want a weak dollar and [__] me, the dollar's been weak. It's been an extraordinary weakness. Now, this is not some structural everending weakness. That'll come at some point when we change the rules of the game. Right now, cyclical weakness being pushed by Trump and Bessant and it will continue to do so. And that is an amazing tailwind for markets and risk. Bonds, everyone's like, "Oh my god, bond yields. Every time they go up, they're going to break out. They're going to 6%. All the drama of the macro people." It's like last time bonds were in a range for for Trump. They'll probably be in a range for Trump this time. He'll get the the front end lower and the yield curve will steepen. He will force the front end lower by changing the Fed uh chair etc. Um, and so bond yields are really not a big deal for this equation. So let's not worry about that [__]. That's the macro doomers um on X. We'll talk about that.

I'm going to start I'm gonna start reaching for the red. I'm probably going to go I won't drink red all day because it's summer here. Um, and I don't really want to and uh red in the end actually gives me migraines these days. Um, this one does not. This is for me the greatest wine in the world, which is Lopez de Heredia Viñedo. This is the reserver. The Grand Reserver is I think one of the greatest wines on earth and it and I drink the older ones, you know, pre 1990. And this is really old school Rioja. So old school that they won't use tractors. They put grapes and baskets on their back because they want to bruise the grapes. It's like the most old school of old school. Low alcohol. Don't jam it with the sugar, high alcohol to please people. And they stick it in oak barrels for as long as you possibly can. And what you get is this incredible, elegant, oy, delicious wine. I mean, for me, it's the greatest wine in the world. What we're going to wash it down with food-wise is something called So, here's my snack plate. You can't see me reaching over on the side. This is called cecina. Cecina is a cured um um beef. Kind of like bresaola, but it's got it's smoked. Has a slight smokiness to it. And it's incredible. Called cecina. C E C I N A. You can't find it in most places. You won't be able to find it easily in in the US or in the UK, maybe. Australia. No chance. But it is utterly delicious. That smokiness goes with the vanilla and the depth of that. Bloody hell, that's a good one. I've had three amazing wines today. The three combined are less than €100. These are the most underrated wines on earth. Old school Alberinhos from Spain. Um, so that was the one I had was um, Doerro Derro. It's um, well known as a kind of old school producer. Pio Sorans love. There's a whole bunch of them. Really good. We've had the Corpette Grammon have a cheaper version called Imperial Imperial. It's [__] incredible wine. Cost nothing. I mean, just nothing. You can drink like a prince here, eat like a king, and it cost you nothing. Even when you get it transported to the Cayman Islands or the US, these are not expensive wines, and you can drink like a billionaire. Literally, honestly, with Viñedo Tondonia Grand Reserver, you're drinking like like billionaires who can afford to buy vintage Burgundy's um you know, 30-y old Burgundies that cost $20,000 a bottle and you're buying them for $200, $300 for a 1980. It's extraordinary.

Okay. Global M2 then now same Bitcoin then now same when banana same keeps showing the banana we started in the banana in September last year we've given the phase of the banana but nobody listens because they want to cherrypick everything on Twitter it's very frustrating I'm trying to help everybody and yes your most tokens will go up will come into the alt season in a sec the most copied chart on the planet it. This is what you all want to see. This is not updated from today's price action. Um, so basically we started up ticking. So when you say when banan, it's like how much more can I help you? We told you here that this was the low. We said here it was going to correct. We said here this was the low. We doubled up everything. All our positions because it's the same for NASDAQ. We bought call options in Robin Hood, Tesla, Coinbase. We added Siri. We added everything. And that was obviously all in Real Vision Pro. If you don't sign up for that, I can't help you. We do give it all to you. But on Twitter, I try and give as much away as possible to help as many people. Here it is. Is this going to be perfect or is it going to do this and then this and then this and then this? Yes, it'll do the latter like it did this almost perfect then this wasn't perfect and then this. That's Is it going up to the right? Yes. Is it likely to fall apart with a 90% correlation going on? No. So, it'll be okay. Will it deviate? Will it fail over time? Yes. Will we give you other things that matter? Yes. This matters the most right now.

Next snack. Longaniza small like it's not like the which has got some the the paprika in. This is like a just a sausage like a salami but super dry. So, it's crunchy and has this ultra umami. And again, this is not the processed [__] you buy in a normal supermarket. This is handmade stuff. Cost nothing. Everywhere here in Spain, Italy, France, amazing at this stuff as well. Anyway, little sip of wine. We'll keep moving forward. We got a lot to get through. I'm sorry, but you got nothing else to do. You Americans are basically waiting for your long weekend anyway. Everyone in Europe's on my time zone, so they're getting shitfaced. Good for you. The Aussies, they're suffering this time. Um, they can't drink breakfast beers. So um, they're fast asleep. So they watch it in the morning. That's really good. Food and drink make everybody happy. It's one of these societal lubricants that help society function. We share things together. It loosens us up. You don't need to drink, obviously. Nothing to do with drinking. Um, and sure if you prefer shrooms or you prefer we I don't care. Um, the point being is these are communal things that we enjoy together. And I enjoy doing it with you guys because I know cuz I mean I get stopped all around the world. People actually really enjoy this stuff. They want the chart alpha and all of that. There'll be a bunch of comments is like, "Stop doing this. I just want the alpha." This is actually the real alpha. I keep saying this. Right. Next.

Global M2 year-on-year versus Bitcoin goes back a long period of time. It's stupidly correlated. Global M2 is ripping higher. Bitcoin should rip higher. Can't help you more than that. Um, okay. That was me hitting on my vape. It's the first time so far. Imagine an hour without nicotine. V-shape rec. Yeah, now now you can see me. But um V-shaped recovery and equities continues. We called this we said, "Hey, it looks just like 1998. I I was at Goldman in 1998. I lived and breathed this thing. It [__] ripped higher forever and went into a huge bubble." We're not saying, "Oh my god, it's going to be a bubble." What we're saying is correlations 97%. It's like one of those events that doesn't matter the stock market that drove the stock market lower and now we're going to recover. And we should broadly follow this pattern for a while and then we won't. Okay? And then we won't. But it will follow the M2 pattern and then we won't. But it will follow global total liquidity ongoing. The debasement of currency is the driver of everything. You've got to understand that. Um so there we go. People are still short bloody short markets. I don't get it. Everyone's so cynical. It's like this is the easiest trade in the world. This whole thing, this whole setup from the low has been literally one of the easiest trades in the world. You'll say, "Oh my god, it's not easy. Can't can't you see?" Because you've chosen the wrong things. It's been an easy trade. Basically, you could have owned Solana and a few tech stocks, which was basically my thesis. Um, you've been fine. Now, not saying I'm infallible. I will [__] it up. I still own Church of the Smoking Chicken Fish and which I still like. I haven't sold any of it. And maybe I'm wrong, maybe I'm right. I don't care. Um it's a small allocation because I wanted fun and stuff. Um but overall, people are still cynical about what is going on because they're confusing their own political views, everything else with what the driver is. 97% of the NASDAQ returns are all debasement of currency. 97%. That's the R squ. And yet you can posture all day about all your [__] and you're wrong. 97% is that. And so then it becomes down to which stock do you choose to best represent that to outperform it. And that's when we use relative charts and stuff like that. Okay.

uh business conditions starting to grow. We had a everyone got bearish because of Trump and then come back and it's all okay, which we said it would be and then blah blah blah more it's all okay. The City Bank Economic Surprises Index basically follows the dollar because that's where sales eb and flow. That's the flow of the global economy. And the dollar weakened massively. And hey, what? Economies are going to do better. Which is why Scott got better once a week a dollar. So does Donald Trump. So does everybody because it works. It drives a global economy because 87% of world trade is in dollars. Okay. Asm the business cycle super important. um my whole framework built from the business cycle. I'm now actually more macro longer term. Um but it gives you where you are. It's very important. Okay. The ISM has been for extended period of time below 50 up and down. It's been dragging higher but it's been slow been slow because the dollar was high and rates have been high. Rates will come lower because Trump will force lower and the dollar is already falling fast. I mean, I think the DXY gets to somewhere between 92 and 90. Um, let's see. But we're starting to see the S&P version of the ISM start to break higher. Um, and we'll see the ISM come up. Okay, great. So, the business cycle goes up. Here's the amalgamation of the two. Business cycle is is slowly rising. Why does it matter? Because the business cycle is how you all feel, how your businesses feel. You shouldn't buy the business cycle. Am I creating excess earnings? Am I growing? Most of the economy is not growing. Some parts are growing. GDP is growing from different reasons, but really the average median business in America, the median person's income ain't changing right now. If you're running a restaurant or a shop or a a services business, is it really happening for you right now? No. Is it okay? Just about. But your interest rates are high. So when interest rates come down what we'll find is economic activity picks up and then suddenly speculative activity picks up and that changes the structure of market. It has always been so the history of markets I've got ISM and the Treasury survey before that going back to about 1880 it's always been the same market returns driven by the business cycle. So as the business cycle goes up market returns go up. The thing that also leads it is financial conditions. This is a mixture between the dollar rates and commodities and financial conditions have been going up which is meaning for us easing and that means ISM it leads ISM by 9 months. ISM is going to go higher sharply. Financial conditions because of the dollar the dollar starting to break down again. That will lead financial conditions to the next leg. Okay, this is interesting stuff because it also drives crypto and tells us how long the cycle is going to last. I'm not going to give away everything here, but we'll talk about some of that. ISM and crypto.

Okay, so this confusing chart, you're spinning getting your head around this. What the hell's going on here? There's a bunch of colors and things going up and down. Basically, here is every time the ISM peaks in purple. Okay, but what's all this [__] This is the ISM in this teal color. So it peaked. What happens to the market? Well, when the ISM peaks eventually, the recovery is when it comes across 50. When it comes across 50 confirmed, that's when markets get big moves. We haven't got there yet. So the big move part the global business though and there's going to be a bunch of you going where it's never going to happen. Uh Trump tariffs can't you see there's wars everywhere. It will happen because all the forward-looking indicators the financial conditions that actually drive things as opposed to your opinion which drives nothing at all will happen. That cheese is good. Sorry. All of this is good. So I keep doing the [__] me that's good rolling of eyes. Right. This is so good. Um, generally, no, not generally. Definitely the business cycle will play out. Definitely assets will get affected by it. Definitely your pocket will be affected by it and it will definitely play out in the end. That's all there is to say in the end. The rest of it is your issue with time horizon or my issue with time horizon or whatever it is. Everything else is here. It's all in play. It's exactly as it should be. And okay, when banana the most ridiculous, stupid, what's the word? dimwitted ninny uh question of all time is when banana and I've showed you this chart for two [__] years but you don't pay attention altcoins are driven by ISM because it's driven by the risk curve which means when people have more earnings they go further out the risk curve and then altcoins go ISM is going higher altcoins a percentage of bitcoin mark total market cap will go higher bitcoin dominance will go lower and that will be altcoin season. All the people saying there's going to be no altcoin season don't [__] understand. Will there be an altcoin season in your token? Uh, no. Well, there might be. You can lower that entire risk by saying, "Could I own Bitcoin, Ethereum, and Solana?" Will that work? Of course, it will work. And then you hear, "Oh, Ethereum is a piece of [__] [__] morons. I've told you the financial system is going to be built on it. Um, it'll do fine. Will it be the best performing token? I don't know. I don't care. It's okay. Ethereum's amazing. Solana, incredible. Sui, amazing. What's, you know, don't worry about it. These great lay ones, they'll do fine. Well, well, we'll come to some others in a sec. So, we're still going and we still haven't got to questions. Questions only real vision platform. Sign up real robson.com/join. Join for free. Ask me questions. Um, try not to insult me too much, but I don't mind. Bill gentle ribbing. I don't know what to do with this wine thing, by the way. Honestly, don't. I'm sitting It's like having three really hot women next to me and they're all kind of winking at me. I don't know what to do. Um, that never happens to me, by the way, but I pretend it does, right? Bottles of wine you pay for. It's different. Anyway, moving swiftly on. Um, Bitcoin. Here's the chart. This is cup and handle back down. Corrected it. Okay, great. That's the weekly chart. When I get to the daily chart, it's exactly the same pattern, but in short time horizons. Let's go back this bit. up test down up down blah blah blah up down. Oh, weird. Okay, it's the same. What happens over time? It goes up. Go back to this chart because now you're like, you've forgotten this because you guys are nervous Nellies. You don't really understand. You're just like scared you're going to lose money and R's wrong. Oh. Oh, yeah. That says the same thing. It kind of goes up and then it sideways and then it goes up. Battery's going to run out. Okay, let's try and figure this out without [__] everything up because I'm on my laptop obviously cuz I'm in Spain. Don't quite know what I'm doing. How am I going to do this? I don't know. Sorry. Just whistle amongst yourselves. Have a drink. Do whatever you want because I don't know what the hell I'm doing here. Does that work? Okay. Yeah, we're charging. and we're in business. Okay, so there's the M2 chart. Okay, remember that chart because you don't you forget everything and go, "Oh my god, we're all going to die." You do it every [__] time. And I just post this chart up and for some reason you miss a post on X and you don't come on the Real Vision platform because you haven't subscribed to Real Vision Alpha where you can go and look at the charts at any time in your leisure as opposed to missing your Twitter feed. But no, you don't want to do that because you know better. So there was a chart. There was the up, little bit of down, little bit of up. Are we breaking high today? Probably. Ethereum. Great chart. It's an amazing chart. So we've done like one, two, three, four top tests here, too. We probably come up here, pull back, break. That'll be the true kind of la season. when that happens. Um, and that is coming. Solana, beautiful cup and handle pattern. We've seen these patterns before. Once that breaks, Solana goes to new all-time highs, keeps going higher. Whole marketer goes with it. Excellent. Sui, amazing. These wedges, they come down, they break higher, they come down, ready to break higher. Beautiful chart. Beautiful chart. There's the SUI long-term chart. Great. We come down in the middle of the wedge. Very common pattern. Break higher. All happening. Sui Solana. For those of you who don't understand these relative charts, this is Sui outperforming Solana over time. Is it underperforming Solana right now or is it consolidating? It's consolidating. Why? Because it's been in this sideways range. Is this weight range an interesting pattern? Yes, it's probably a wedge. Julian drew this. I wouldn't use that spike. I'll probably join it here. We're probably closer. And in which case, the probability is that it starts breaking higher against Sui. Why? Because it has a lower free flow is early in their adoption curve. Nothing bad about Solana. [__] love Solana. They're amazing. Toy does an amazing job. The whole community is amazing. Is Sui going to outperform? Probably because it's earlier stage. It's not that complicated. There's no dissing. I'm not insulting your grandmother. Um, Dogecoin,

Amazing chart. I mean, this thing is amazing. Alt season corrective. Alt season corrective. Alt season. Okay, let's see what happens.

Well, it's missing a bit of this, but basically, from the start of 2014 when this came out, it's outperformed Bitcoin, but it does it in the spur. Will it do it again? Maybe. I don't know. But I know that a normie comes on. I want to buy some crypto. Looks at Bitcoin. Goes, "I'm not going to pay 110,000 for this." Looks down the list on Coin Market Cap, Coin Gecko, Coinbase, Kraken, Robin Hood, and goes, "Well, Doge is cheap. I've heard about that before. Doesn't Elon like Doge? XRP is cheap. Um, we've heard about XRP. There's tons of YouTube videos and my uncle owns it. Um, what about it? Great. I have no issue. There's XRP."

Equally [ __ ] amazing chart. I'll be staggered if XRP does not break higher massively. And I know that a bunch of XRP people see Ral Power, he hated us. It's all about the price in the end. Unless you're actually building something on the technology. We at Real Vision are building on Suie. We're building tokenized trade ideas to get to crowdsource asset management where you can become your own hedge fund manager because your your ideas, your trades are confirmed on chain. We can see them. People can follow you. You can get credentialization and then maybe you can become a hedge fund manager or we can tokenize the whole community in terms of the best ideas. There's so much we're going to be building on Suie. We're going to use this identity. What we I don't know what why I started that but listen we're doing some cool [ __ ] The whole rebuild of the platform that's coming um in months for the first beta testers um is going to be amazing. It's built around communities, ideas, connections. Um, and then we'll start layering in the web three stuff, uh, using sooie, but that doesn't mean we're sooie maximalist because we have NFTTS on on, um, Ethereum, NFTs and Solana, we have and we care about all the ecosystem. We cover everything. We don't have a bias, but there's a lot of cool [ __ ] to come um, on Real Vision. Another reason rover.com/join because you'll miss out if you don't and it's very cool as [ __ ]

Um, okay. XRP XRP one month. I mean, look at these. I'm just beautiful charts. Um, total market cap of crypto excluding Bitcoin and ETH. Beautiful correction. Beautiful. For some reason, this makes you all feel like [ __ ] It doesn't to me. I like it because we've got the the next phase to come. Everyone's like, "We don't deserve it. Won't get it. People don't think they they they're going to get nice things. You'll be fine.

Um okay, draws on vape. Um next one. Um total market cap and excluding top five. This is real odds. Stunning chart. I mean, I don't know in what world this is not going to play out. We already think the cycle extends to 2026, at least the first quarter. Let's see what the dollar does. We'll probably push it out for another quarter. Um, things will go higher than you expect. That's my general consensus. Bitcoin dominance, rising wedge. I don't like when Julian, he put these together. I don't like it when he uses these spike charts. I would have just drawn it through that. Either way, um, I said here that I think it's put in the high. It then sneaks in a new high. I still think it's topping and I think Bitcoin dominance collapses. When it collapses, it drives altcoin season. I know nobody believes in altcoin season, but over time, Bitcoin is less dominant. Why? Because people find use cases for other tokens over time. Interesting enough, this is before smart contracts were really a big thing. Smart contracts become a big thing. The market has a bare market. Smart contracts become a more important part of the ecosystem, as do new tokens such as Solana. And then we have the the bare market where people just pile money into this. It's all driven by the business cycle.

Um, right, I'm just choosing which one of my favorite children to um I think I'm going to go back to the Carver because it does me less damage because if not I'm going to be miserably hung over tomorrow. Uh because I'm half the way through that one. I've only had a glass of the red, couple of glasses of white. It kind of goes down fast, right? And I've still got to do the questions on the Realvision platform. Realvision.com/join. You lazy [ __ ] Um, and then I'll answer questions there. It's going to run. This is going to be the longest one ever because I can. Right. When banana, the most annoying question in the world because we've given you. Let's go back again. Just to reiterate you um, dimwitted ninnies. Dimwitted ninnies. Here's the chart. Went banana. We said it was here. We said phase one. Phase one correction. Phase two. We're in the middle of it because you've had this sideways move and your alts have gone down like this and your alts are not at all-time highs and Bitcoin is you're losing your [ __ ] I can't help you. You've got to understand the structure of markets. You've got to be able to take the volatility and please your asset allocation does matter and you've probably got it wrong. Um and I've tried to help you with that too. So right I'm trying to find which chart I'm on when banana. Okay. Altcoin season. Percentages of assets, excluding stable coins, outperforming Bitcoin over a 90-day period. This is why you all feel like [ __ ] and you're getting salty as hell online with me because when banana your tokens aren't going up, Bitcoin maximalists are like, "Yeah, I'm I'm in the middle of the banana zone. Everything's fine." But you're not. So, what this says is when it gets to these levels, it's oversold. And every banana zone that's happened to 2019, 2021, 2022, 23 are all driven when it gets oversold. So here we are with the M2 chart, with this chart, with the ISM. That's what a macro framework is and how it will help you. At global macro investor, we have easily the deepest framework with the most number of variables of anybody else in the world on this nexus between macro and crypto. That's not bragging. It's just like I won't be right all the time, but I'm [ __ ] trying my best for you guys. Honestly, I get it. We all want to succeed. I'm trying to help you and you just need to shut the [ __ ] up and listen. Not just listen to me because I may be wrong, but just stop being reactionary. Be absorber of knowledge. Be a builder of your own framework. Be humble and also be accepting that not everybody's going to be right. There is nobody who's going to predict the exact price. There will be somebody but it won't be the person you're following. And people ask me what is my projection? What is my prediction? Because of as if that's going to help you. It's not. Let's say up a lot. Do I think Bitcoin 3xes from here? Yes. Almost without question. But for some reason, everybody gets messed up in this. Wait till the signals from the macro tell you and then we'll see where the price is. Yes, a global macro investor and pro macro, we do share some of that. GMI more so because people are more responsible with price targets and they're not targets. They're like, "Here's our contextualized understanding of where we think this thing could go, and here's three bands based on standard deviations." That's how I kind of think about the world.

Okay, next chart. Bitcoin cycle cycle top finder. There are people like, "Oh, it's it's hidden cycle top." Uh, just block them because they're [ __ ] morons. Um, Bitcoin cycles. These are the cycles. I keep explaining this to you. Went bananas zone told it when it started started it over here. We had the correction zone. We explained the correction zone. The next thing we're in is this phase phase two of the banana zone before the correction. We're not there yet. We had a bit of sideways for a couple of weeks and you guys lose your minds. I can't help you. Do you remember this chart? I keep bringing this chart up because you forget it immediately. You look away and go, "Well, somebody else said the market's going to go down its tops, and somebody else said my altcoins aren't." Just look at the chart. Look at the chart. Look at the chart. Look at the business cycle chart. Look at the dollar. Generally, it gives you all you need to know. And everything else is [ __ ] noise. And you get so emotional about the noise. I get it. I get emotional, too. My P&L goes up and down. I don't look at my P&L. I have no idea what it is. I zero idea. Literally zero. Haven't checked my P&L in four months. So, I have no idea what it is. But I get bored when the market goes sideways. Engagement goes down. People answer fun. Then it goes down a bit more and then people start getting really angry and salty and went banana and this and this and this. That's kind of a signal that we're towards the end of the thing. Don't let your emotions rule it. The these things take time. The people who get really rich in crypto were in the space for a long time. They're not trading it. And you think that some bloke on Twitter who trades stuff is going to answer your questions. No, time answers your questions. You just did nothing. But you you can't. I've told you this 100 times and then you come back and go, "Well, I went down 80% blah blah blah blah." Just you need time. Compound returns take time. Did Warren Buffett trade his portfolio? No. I'm not calling myself Warren Buffett, even though I actually don't think his he was as good as people say, but that's a different question. All I'm saying is chill the [ __ ] out.

Final chart of the day. Oh [ __ ] that's the wrong chart. That's the ch that's the crypto digbut's floor price. That wasn't meant to be there, but if you want to buy an NFT, buy a crypto digbut. There's about 5,600 of them, 200 of them. These are [ __ ] OG things. They're cute as [ __ ] Everybody needs to own a dick butt. If you don't, you're just not relevant. In fact, at some point, maybe I'll just have a Unless you have a crypto dick butt, you can't ask me a question. Not that I'm that important either. Maybe just banned generally from anything. Maybe you can't buy Rioa without a crypto dick butt. Maybe that's a good idea, actually. Maybe that's a good idea. I think about that. I'll talk to the ria producers because everyone needs to own a [ __ ] because they're just law and legend. If it's not a [ __ ] and me bits, these are not expensive. Get involved in crypto art. That's I spend most of my life there. It's a much happier exciting interesting world. They're based in ETH, so you get a multiplier on ETH. And it can be as simple as a crypto dick butt. You can lord it with a punk or you can buy art. You have no comprehension how big a trade this is generally. I keep explaining it to people. It's hard to grasp. I get it. This is the entry point do what you need to do. Um there may be other things me bits crypto dig butts wreck guys these kind of things they have cultural law. Their price in ETH. They will probably outperform ETH and ETH will probably go up a lot and you will get to meet nice people doing different things. It's a really inspiring space. I've met some of the most amazing people in that space. Um so think about digital art as part of your allocation. It'll make a big difference to you um both financially, intellectually, and personally.

Okay, that's the end of that. Let me look at my list of [ __ ] I need to do apart from reiterating dimwitted nervous ninnies uh presentations. Oh, you [ __ ] need to be paying. I'm reading my notes. You [ __ ] need to be paying for this to unfuck your future. That is the idea behind the real vision alpha. Go to real.com/join. There's a whole bunch of you who are there who come in every time I speak. Don't do other stuff on the platform. Just we're there to help. We've got so much. There's like me and Julian shooting the [ __ ] going through every chart in the world, but you can't be bothered. There's there's like Julian and I putting out macro investing tool and we're it's not about us. There's Andreas. There's a whole community. There's everything going on. The trade ideas, the community comes up, but you can't be bothered. Oh, it seems a bit expensive for me. Really? Really? Okay, that's enough of my disapproving eyes.

Um, okay, we're going to move across to the platform. We're an hour and a half in. Um, anybody who comes across the platform, real.com/join, I will start answering questions. This is going to be the longest drinks with ever. Um, I understand that. Hopefully, I haven't bored you. I've tried to give you some alpha. Everything's fine. Everything's according to plan. It's summer. We're in Spain. We're having a [ __ ] ton of good times. Come and join us on Real Vision. Let's have some fun with some questions. Ciao.