Raoul Pal: Inflation is a hidden tax eroding wages
Raoul Pal says central‑bank money printing after 2008 is a hidden tax that devalues wages and drives assets like Bitcoin higher.

Data: Polymarket, updated every minute. · Ends Dec 10, 2026
This is a market about the one-month percent change in the Consumer Price Index for All Urban Consumers excluding food and energy in November 2026 as reported by the Bureau of Labor Statistics.
This market will resolve to the one-month percentage change in the Consumer Price Index for All Urban Consumers excluding food and energy (Core CPI-U) in November 2026 according to the monthly Bureau of Labor Statistics (BLS) report (seasonally adjusted change from the preceding month).
The resolution source for this market will be the BLS Consumer Price Index report released for November 2026 (https://www.bls.gov/bls/news-release/cpi.htm), currently scheduled to be released on December 10, 2026, at 8:30 AM ET. Resolution of this market will take place upon release of the aforementioned data.
Note: the resolution source for this market will be the official monthly BLS CPI news release, which reports core inflation (all items less food and energy) over 1-month periods to only one decimal point (e.g., 0.3%). Thus, this is the level of precision that will be used when resolving the market. For the avoidance of doubt, this market resolves on the core CPI figure — the all items index excluding food and energy — not the headline all items CPI figure.
If the BLS does not release the relevant figures on the scheduled date, this market may remain open up until the scheduled release time of the next CPI report (https://www.bls.gov/schedule). If the information is not released by that time, this market will resolve according to the figures of the most recent previous month with available data.
Resolution source: bls.gov/bls/news-release/cpi.htm
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