Ray Dalio, the billionaire investor, is holding on to gold as a hedge against the potential risks of rising inflation and a looming debt crisis.
What Happened: Dalio, the former CEO of Bridgewater Associates, has highlighted the escalating debt levels globally, with the U.S. debt reaching a record $34 trillion this year in a LinkedIn post. He also pointed out the debt issues faced by China, Japan, and European countries, which pose significant risks to their currencies.
“History and logic show that when there are big risks that the debts will either 1) not be paid back or 2) be paid back with money of depreciated value, the debt and the money become unattractive,” Dalio wrote.
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Dalio also warned that when nations are heavily indebted, central banks are likely to print more money to pay off ...Full story available on Benzinga.com
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