Billionaire Hedgefonds Manager Ray Galio gave a grim warning with regard to the current state of worldwide currencies, in which historic parallels with the 1930s and 1970s are drawn.
All Fiat -Valutas will ‘go together’
On Tuesday, in a position on X, the founder of Bridgewater Associates said: “Gold is now the second largest reserve currency, behind the US dollar”, with the emphasis on a large shift in the global monetary order.
To understand this shift, he pointed to a historic pattern of Fiat -ValutadeValuations, which states that “we are currently confronted with a classic currency evaluation comparable to what we saw in the 1970s or 1930s,” referring to the Nixon shock and the great depression, in which all Valutas were taken.
See also: Peter Schiff Slams Republicans Because they want to ‘donate’ tariff income back to taxpayers, calls it ‘one of the stupidest ideas’
The post includes a fragment of Dalio’s recent appearance on the Master Investor Podcast, where he said that the new fame of Gold as a reserve currency provides for other important currencies.
He concluded by confirming Gold’s profession in such an environment. He said, “If events follow a similar pattern today, that hard currencies makes an attractive active one to hold on.”
Dalio warns of ‘whole, very dark times’
Earlier this week appeared on a podcast with Steven BartlettDalio warned of “very, very dark times” for large Western economies, including the United States and the United Kingdom, which in recent years specifically indicate their increasing financial liabilities.
Previously, Dalio warned of a “debt -induced heart attack” for the American economy in the “relatively near future”, of which he says it was caused by many years of great shortage, in his column in the Financial Times early this month.
At the future China Global Forum in Singapore last week, the 76-year-old billionaire warned of the American debts of $ 37.5 trillion and said it could cause a ‘crisis’. He also said that with mass trillion, annual interest payments, the demand for American debts is decreasing, creating imbalances in supply and demand.
At the end of last month, the interest payments of the American federal government reached a record of $ 1.2 trillion for 12 months, where market observers warned that it could reach $ 1.4 trillion if the tax process deteriorates by 2026.
Read more:
Photo Coreignity: Thicaa on Shutterstock.com
#Ray #Dalio #warns #Currency #Schok #70s #style #Fiat #money #fall #gold #largest #reserve #currency #dollar