Billionaire investing icon Ray Dalio says the global monetary order is suddenly experiencing a major shift.
In a new CNBC interview, Dalio says central banks are moving away from holding fiat currencies as a reliable store of value.
“The monetary order is breaking down. What I mean by the monetary order is that fiat currencies and debt as a storehold of wealth is not being held by central banks in the same way and that there was a change. The biggest market to move last year was the gold market, far better than the tech markets. And the US markets underperformed foreign markets.”
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Dalio notes central banks are diversifying their assets by increasing their gold holdings as the US dollar is losing its luster.
“We
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