Rampant dollar creation could be pillar of the end of the US empire, says Ray Dalio
Ray Dalio is the creator and fund manager of Bridgewater Associates and one of the most trusted investors in the world for his powers of reflection and foresight.
In an interview with Market Watch published on Wednesday, Dalio said that financial instability is one of the pillars that could make the American empire topple — along with extreme political polarization between Democrats and Republicans and the emergence of a competitive adversary like the China.
Dalio addressed the topic in his latest book “Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail,”.
The investor spoke again about Bitcoin, noting that he has the asset in his portfolio and that he considers the fact that the blockchain technology has been created and survived unhacked for more than a decade as a huge achievement.
Ray Dalio and Bitcoin got off to an off-kilter start. The investor said in November 2020 that Bitcoin would be banned by governments. In the most current interview, he says it will be for some, but not all.
A month later, in December of that same year, he said bitcoin was an ‘interesting’ alternative to gold. In May of this year came the surrender: Dalio said he had part of his investments in bitcoin.
The guru even wrote a text to make it clear exactly what he thinks about Bitcoin without having to go through the filter of a journalist.
“Bitcoin — just as the credit system made bankers rich around the 1350s, starting with the Medici — is making its inventors and early investors extremely rich. Cryptocurrency has the potential to make many other people rich and break the current monetary system”, he says at the beginning of the text, which can be read in full here.