Raoul Pal, the founder of Real Vision and author of The Everything Code, posted on X that the post‑2008 debt burden forces central banks to continuously print money. He argues each year of printing removes roughly 8% of a dollar’s value, creating a hidden inflation tax. Because more dollars chase the same assets, prices for houses, stocks, gold and Bitcoin rise while wages stay flat, leaving wage earners poorer. Pal uses this reasoning to explain why many feel the financial system is rigged and why he believes the Exponential Age offers an alternative path to wealth.

“This is one of the first things I dig into in The Everything Code because you simply cannot understand the economy without it. After 2008 the world was left with a debt it can never repay, so the central banks do the only thing they can... they print the money to roll it, every year, and every year of that printing takes around 8% off the value of each dollar. Assets reprice against that. Houses, stocks, gold, Bitcoin... they all rise because there are more dollars chasing the same assets. Your salary doesnt. So if you earn a wage and dont own assets, you are getting poorer every single year. Nobody voted for it and it doesnt appear anywhere you can see it. But its a tax all the same, and once you see it, the rest starts to make sense... why the system feels rigged, why your parents path to wealth stopped working, and why the Exponential Age is the only way out.”

— Raoul Pal (@RaoulGMI) on X · X ↗

Raoul Pal is not affiliated with COINMAG. The quote comes from a public post on X; the context was written by the COINMAG newsroom.