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.
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Data: Polymarket, updated every minute. · Ends Nov 25, 2026
This is a market about core inflation (excluding food and energy) over the 1-month period ending October 2026, seasonally adjusted, as reported by the Bureau of Economic Analysis.
This market will resolve to the percentage change in the Personal Consumption Expenditures Price Index excluding food and energy (Core PCE) over the 1-month period ending in October 2026 according to the monthly Bureau of Economic Analysis (BEA) report.
The resolution source for this market will be the BEA Personal Income and Outlays report for October 2026 (https://www.bea.gov/data/personal-consumption-expenditures-price-index), currently scheduled to be released on November 25, 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 BEA Personal Income and Outlays news release, which reports core inflation (all items less food and energy) over 1-month periods to only one decimal point (e.g., 0.2%). 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 PCE figure (the PCE price index excluding food and energy), not the headline all-items (total) PCE price index figure.
If the BEA does not release the relevant figures on the scheduled date, this market may remain open up until the scheduled release time of the next Personal Income and Outlays report (https://www.bea.gov/news/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.
Raoul Pal says central‑bank money printing after 2008 is a hidden tax that devalues wages and drives assets like Bitcoin higher.
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The market resolves by the rules below. Polymarket uses the UMA optimistic oracle: anyone can propose the outcome and dispute it during a challenge period.
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