Ray Dalio: Will invest in "hard currencies" such as gold and Bitcoin, while avoiding debt assets

Ray Dalio, founder of Bridgewater Associates, said in a speech at a financial conference in Abu Dhabi on Tuesday that he would invest in "hard money" such as gold and Bitcoin while avoiding debt assets because most major economies are facing rising debt problems. He said: "I think debt currency problems may be coming, and I want to avoid debt assets such as bonds and debt and hold some hard currencies such as gold and Bitcoin." He added that the debt of the United States and all major countries except Germany has reached "unprecedented levels" and this amount will not be sustainable. Dalio said: "These countries are likely to have debt crises in the next few years, which will cause the value of the currency to fall sharply." He also said that "debt, currency and economy" are one of the five driving forces he has identified that will drive "almost everything." Other forces include the internal political order of countries driven by wealth and value gaps, and the external geopolitical order. (South China Morning Post)