Bridgewater’s Ray Dalio: invest in gold and bitcoin rather than debt assets
Indebtedness in the US, China and most major countries has increased at ‘unprecedented levels’ and will not be sustainable, he says
He added that the indebtedness seen in the US, China and all major countries except Germany has increased at “unprecedented levels” and the amount will not be sustainable.
“It is impossible for these countries to be able to not have a debt crisis in the years ahead that will lead to a great decline of [money] value,” Dalio said.
“Debt, money and the economy” represent one of five big forces he has identified that will drive “just about everything”, he said.
The other forces include countries’ internal political order, driven by wealth and value gaps, and external geopolitical order, stemming from power conflicts such as US-China tensions.
