Ray Dalio issues stark warning about US dollar’s future as global reserve currency

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teelainen
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Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by teelainen »

Just 2 days ago, Dalio issues a warning about the US dollar’s future as the global reserve currency. I'm not saying that I disagree with him, but what could possibly be the alternative to the US dollar right now?

In 2019, the US dollar accounted for 61% of the currency in foreign exchange reserves.
The Euro was 21%
The Japanese Yen was 6%
The Chinese Yuan RMB was 2%

He keeps talking about this dangerous spiral where the Fed and other central banks have to step in to buy huge chunks of rising US government debt. But how bad would this spiral have to get in order to realistically put the US dollar’s future as a global reserve currency at risk?

Link to article
https://fortune.com/2020/09/16/ray-dali ... -currency/
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by rholt »

Ray Dalio seems to issue a LOT of stark warnings.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Actin »

How many times has he said this so far? The dollar is always on the verge of collapse according to him and Schiff. He does a very good job of eloquently packaging and selling doomsday porn to gullible people.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by staustin »

Hard to argue with his premise and the history of prior empire declines supports his argument. We are engaged in debt monetization and currency debasement. And emerging economies and structures are being put in place which will eventually allow for more and more trades in local currencies. A smart investor would have downside protection to a dollar decline.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Robot Monster »

Do you have an investment question relating to this, like, "Should I invest in foreign currency assets because of this?"
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Day9 »

Not Actionable. Stay the course. Gold already had a run up so maybe it's already priced in. If dollar weakens our international investments will go up. Do not make any changes to your plan.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Seasonal »

You may want to consider viewtopic.php?f=10&t=325552

People have been issuing stark warnings similar to this for decades, often in apocalyptic tones. Perhaps they'll be right some day.

The benefits of being a reserve currency are greatly overstated.

Many US businesses want a weaker dollar, as it makes the goods they sell overseas less expensive in the local currency and therefore they become a stronger competitor.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by HippoSir »

Just invest in a total world fund (VT is a great choice), and don't worry about it. Actively tilting towards one country or another seems a mistake.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Valuethinker »

staustin wrote: Thu Sep 17, 2020 9:47 am Hard to argue with his premise and the history of prior empire declines supports his argument. We are engaged in debt monetization and currency debasement. And emerging economies and structures are being put in place which will eventually allow for more and more trades in local currencies. A smart investor would have downside protection to a dollar decline.
And Japan and Europe?

They are doing same things.

Maybe we go back to the British pound? ;-)
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Brianmcg321 »

Im over him.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by targetconfusion »

I'm in the crowd that doesn't track what these kind of people say, but within the [is this actionable?] context I don't think he's totally wrong about the possibility. The future defies prediction. The US came to occupy its current position relative recently in the context of history and isn't assured of remaining there. Maybe USD stays valuable, maybe it declines. To me, the actionable takeaway is to hold more than US investments.One first-order effect of a dollar fall seems like it would be a corresponding rise in dollar-denominated foreign equities.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by staustin »

Valuethinker wrote: Thu Sep 17, 2020 10:14 am
staustin wrote: Thu Sep 17, 2020 9:47 am Hard to argue with his premise and the history of prior empire declines supports his argument. We are engaged in debt monetization and currency debasement. And emerging economies and structures are being put in place which will eventually allow for more and more trades in local currencies. A smart investor would have downside protection to a dollar decline.
And Japan and Europe?

They are doing same things.

Maybe we go back to the British pound? ;-)
Yes! :sharebeer Britannia casts off its european overlords and returns to glory! Boris will save us all.

Sadly the dollar will eventually go the way the of the Dinari.

As for actionable, look to Asia, learn Mandarin, invest in the Yuan.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by nisiprius »

Invest in one of his funds or don't invest in one of his funds. If you don't have the capability of investing in one of his funds--as a mass affluent investor I personally am so many orders of magnitude short of being "qualified" that I can't be bothered to check how a big a fraction of a billion you actually need--he's not talking to you.

He's trying to convince institutional investors and very wealthy individuals to invest in his fund, by convincing them that he shares their financial ideas, and knows, better than them, how to act on them.

He isn't giving actionable advice to retail investors.

The only time he has attempted to give advice to retail investors was in 2014, when he talked to Tony Robbins, as detailed in Money: Master the Game, and the advice was--"in any market environment, as long as we live," strong dollar or weak dollar--to use something like this:

VTI Vanguard Total Stock Market ETF 30%
TLT iShares 20+ Year Treasury Bond ETF 40%
IEF iShares 7-10 Year Treasury Bond ETF 15%
DBC Invesco DB Commodity Tracking 7.5%
GLD SPDR Gold Shares 7.5%

As far as I know, neither Ray Dalio nor Tony Robbins has yet told investors to do anything different from that. So either this "All-Seasons" portfolio is still good for all seasons, or they have abandoned their followers and left them high and dry in an obsolete portfolio with no further guidance.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by columbia »

Expanding this to the maximum ~ 1986:
https://www.marketwatch.com/investing/index/dxy

I guess someone could claim that the dollar is weakening, but people see what they want to see.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by nisiprius »

Also, we can see a longish chart of the dollar index at this site

Image

Only back to 2006 but there's also a "trade-weighted dollar index" chart at the St. Louis Fed

Image

None of them fit a narrative of an alarming "weakening dollar" now.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Robot Monster »

nisiprius wrote: Thu Sep 17, 2020 1:21 pm None of them fit a narrative of an alarming "weakening dollar" now.
Indeed.

this is not the most scientific examination in the world, but here's a comparison of what I approximate today's dollar strength is (we seem to be vaguely where we were June 2018) with similar Jan 2020. Using Economist's Big Mac Index:

June 2018
The Japanese yen was 36% undervalued against the US dollar
The British pound was 23% undervalued against the US dollar
The Chinese yuan was 44% undervalued against the US dollar
The Swiss franc was 19% overvalued against the US dollar

January 2020
The Japanese yen was 38% undervalued against the US dollar
The British pound was 22% undervalued against the US dollar
The Chinese yuan was 45% undervalued against the US dollar
The Swiss franc was 18% overvalued against the US dollar
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by bottlecap »

Most all countries are following the Feds lead, so it's unlikely that the dollar would suddenly lose its status to some other currency.

That's not to say that there can't be seriously bad effects, but it makes that one seriously bad effect much less likely.

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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by 000 »

rholt wrote: Thu Sep 17, 2020 9:34 am Ray Dalio seems to issue a LOT of stark warnings.
+1
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by corp_sharecropper »

I like Ray Dalio. I really like his popularizing of risk parity/all-weather. BUT...

If some of the investing titans of our time, Jeremy Grantham, Ray Dalio, Stanley Druckenmiller, etc... actually invested along the lines of their constant hand waving hysteria, they'd all be irrelevant or the laughing stock of Wall Street. How many years in a row can Grantham keep promising this year will be the one where emerging markets are the hot ticket only to look ridiculous? How many years in a row can Dalio and Druckenmiller issue apocalyptic forecasts like they are some kind of permabear prophets? Well, we roughly know the answers, they can do it annually, for as long as I can recall anyway, and they NEVER are accountable for being wrong because 1) 1st ammendment and 2) they quite clearly do NOT put their money where their mouth is, or at least not enough money to significantly impact their funds because if they did they wouldn't have any clients left.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by firebirdparts »

teelainen wrote: Thu Sep 17, 2020 9:24 am He keeps talking about this dangerous spiral where the Fed and other central banks have to step in to buy huge chunks of rising US government debt. But how bad would this spiral have to get in order to realistically put the US dollar’s future as a global reserve currency at risk?
I’m not qualified to answer, but people do still hold reserves of yen, so maybe it has to be worse than yen.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by alfaspider »

Actin wrote: Thu Sep 17, 2020 9:42 am How many times has he said this so far? The dollar is always on the verge of collapse according to him and Schiff. He does a very good job of eloquently packaging and selling doomsday porn to gullible people.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by HomerJ »

Here... Have some bread.

And circuses. Circuses are good to keep the population entertained.

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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by alfaspider »

HomerJ wrote: Thu Sep 17, 2020 3:50 pm Here... Have some bread.

And circuses. Circuses are good to keep the population entertained.

Rome is forever!
Perhaps Rome isn't forever, but it had a good 1,000+ year run. We should be so lucky.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by nisiprius »

There are eight world reserve currencies, according to this article:
The International Monetary Fund (IMF) recognizes eight world reserve currencies: U.S. dollar, euro, Chinese renminbi (yuan), Japanese yen, British pound, Australian dollar, Canadian dollar and Swiss franc. Of these, USD is by far the most widely used in global FX reserves. Nearly 60 percent of the world’s FX reserves are denominated in dollars. In the second quarter of 2019, the total dollar value of global FX reserves stood at $11.7 trillion, of which $6.8 trillion were in dollars or dollar-denominated assets. For this reason, the dollar is often referred to simply as the world reserve currency.
So apparently the dollar is not really "the" reserve currency, it's just the predominant world reserve currency.

Wikipedia is showing me this:

Reserve currency
Image

It seems to me that it might take a while for the positions of (say) the dollar and the euro to switch, and even then the dollar would still be a reserve currency.

So it doesn't sound as if this is some bipolar, on-or-off, one day the dollar is "the" reserve currency, the next day it isn't.

I remember an incredible amount of ink that was spilled over the S&P downgrading Treasury bonds from AAA to AA+. There was all kind of rhetoric about how nobody knew what would happen but it was sure to be ugly. Downgrade of US debt rating heralds a new era and
Global financial markets will reopen on Monday to a changed reality.... credit costs for virtually all American borrowers will be higher over time than they would have been otherwise. Animal spirits, already hobbled by the debt ceiling debacle, will again be dampened, constituting yet another headwind to the generation of investment and employment.
So from where you sit, did any of that happen?

Image

So even if the dollar gradually becomes just "a" reserve currency instead of "the" reserve currency maybe it won't be quite as terrible as Dalio says?
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Kevin K »

nisiprius wrote: Thu Sep 17, 2020 10:50 am Invest in one of his funds or don't invest in one of his funds. If you don't have the capability of investing in one of his funds--as a mass affluent investor I personally am so many orders of magnitude short of being "qualified" that I can't be bothered to check how a big a fraction of a billion you actually need--he's not talking to you.

He's trying to convince institutional investors and very wealthy individuals to invest in his fund, by convincing them that he shares their financial ideas, and knows, better than them, how to act on them.

He isn't giving actionable advice to retail investors.

The only time he has attempted to give advice to retail investors was in 2014, when he talked to Tony Robbins, as detailed in Money: Master the Game, and the advice was--"in any market environment, as long as we live," strong dollar or weak dollar--to use something like this:

VTI Vanguard Total Stock Market ETF 30%
TLT iShares 20+ Year Treasury Bond ETF 40%
IEF iShares 7-10 Year Treasury Bond ETF 15%
DBC Invesco DB Commodity Tracking 7.5%
GLD SPDR Gold Shares 7.5%

As far as I know, neither Ray Dalio nor Tony Robbins has yet told investors to do anything different from that. So either this "All-Seasons" portfolio is still good for all seasons, or they have abandoned their followers and left them high and dry in an obsolete portfolio with no further guidance.
This interview with Dalio in today's "Marketwatch" may be the first time he's offered actionable advice to retail investors:

https://www.marketwatch.com/story/billi ... 2020-09-17

"MarketWatch: These and other domestic and international challenges will clearly affect Americans financially. What would be a smart, proactive strategy for investors to both protect a portfolio and take advantage of market opportunities?

Dalio: First, worry as much about the value of your money as you worry about the value of your investments. The printing of money and the debt should make you aware of that. That’s why financial asset prices have gone up — stocks, gold — because of the debt and money creation. You don’t want to own the thing you think is safest — cash.

Second, know how to diversify well. That includes diversification of countries, currencies and assets, because wealth is not so much destroyed as it shifts. When something goes down, something else is going up so you have to look at all things on a relative basis. Diversify well and worry about the value of cash."
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by invest2bfree »

Ray Dario has massive redemptions and he needs to scare investors to keep his existing investors paying him 2 and 20. All hedge fund guys are all the same they basically talk as if world is come to an end.

Just VT Would provide best risk adjusted returns on all kinds of scenarios. 5 years in cash with VT is all you need.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Raybo »

Maybe it is time to sell starks?
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Seasonal »

nisiprius wrote: Thu Sep 17, 2020 3:52 pmI remember an incredible amount of ink that was spilled over the S&P downgrading Treasury bonds from AAA to AA+. There was all kind of rhetoric about how nobody knew what would happen but it was sure to be ugly.
My recollection is that the reaction to the S&P downgrading US treasuries was a quick flight to safety, aka US treasuries. Investors realized rather quickly that all of the facts that S&P was relying on were public knowledge and that S&P was no better than many others at analyzing treasuries.

Loss of reserve currency status is up there with fiat currency hyperinflation as scaremongering, often done to advance some economic or political interest.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by ohboy! »

Holding dollars hasn’t paid off well recently compared to US equities or real estate. With rates so low having cash almost seems a punishment. If people get trapped into putting all of their eggs in riskier baskets to keep up with or beat inflation I think we will see the dollar fall. It would be a bad situation I imagine if US equities go down and real estate down and meanwhile cash can’t make anything. People might move to.... crypto?

I have 30% international. 10% crypto (was 5% but its way up this year). 5% precious metals. With more cash than I want making .7% in a HYS.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by nisiprius »

Kevin K wrote: Thu Sep 17, 2020 5:41 pmDalio: First, worry as much about the value of your money as you worry about the value of your investments. The printing of money and the debt should make you aware of that. That’s why financial asset prices have gone up — stocks, gold — because of the debt and money creation. You don’t want to own the thing you think is safest — cash.

Second, know how to diversify well. That includes diversification of countries, currencies and assets, because wealth is not so much destroyed as it shifts. When something goes down, something else is going up so you have to look at all things on a relative basis. Diversify well and worry about the value of cash."
How is this actionable for retail investors? He gives no real specifics here, other than "worry about cash."

Which countries? What currencies?

In 1961, in the James Bond novel "Thunderball," supervillain Ernst Stavro Blofeld says that SPECTRE keeps all its funds in "Swiss francs and Venezuelan bolivars in which for reasons of prudence--they continue to be the hardest currencies in the world--we convert all our takings." If not Venezuelan bolivars, then what? How does Dalio advise a US retail investor to invest in foreign exchange? Certainly I can do a web search for answers, but is Dalio giving us any concrete actionable advice here?

"Diversify assets." Into what "assets," specifically? Canadian farmland? Thomas Kinkade paintings? Cigarettes?

I don't see any advice here other than "worry about dollars."
Last edited by nisiprius on Thu Sep 17, 2020 6:33 pm, edited 1 time in total.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by 000 »

nisiprius wrote: Thu Sep 17, 2020 6:28 pm
Kevin K wrote: Thu Sep 17, 2020 5:41 pmDalio: First, worry as much about the value of your money as you worry about the value of your investments. The printing of money and the debt should make you aware of that. That’s why financial asset prices have gone up — stocks, gold — because of the debt and money creation. You don’t want to own the thing you think is safest — cash.

Second, know how to diversify well. That includes diversification of countries, currencies and assets, because wealth is not so much destroyed as it shifts. When something goes down, something else is going up so you have to look at all things on a relative basis. Diversify well and worry about the value of cash."
How is this actionable? He gives no real specifics here, other than "worry."

Which countries? What currencies?

In 1961, in the James Bond novel "Thunderball," supervillain Ernst Stavro Blofeld says that SPECTRE keeps all its funds in "Swiss francs and Venezuelan bolivars in which for reasons of prudence--they continue to be the hardest currencies in the world--we convert all our takings." If not Venezuelan bolivars, then what? How does Dalio advise a US retail investor to invest in foreign exchange? Certainly I can do a web search for answers, but is Dalio giving us any concrete actionable advice here?

"Diversify assets." Into what "assets," specifically? Canadian farmland? Thomas Kinkade paintings? Cigarettes?

I don't see any advice here other than "worry about dollars."
I think the suggested diversifiers are pretty clear from the quotation provided by Kevin K: stocks, precious metals, and perhaps unhedged global bonds.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Kevin K »

If you combine what Dalio says in this interview with the latest Bridgewater paper on investing in a zero-return bond environment the main things that are mentioned that retail investors could act on are larger allocations to gold, international stocks and TIPS.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by corp_sharecropper »

Kevin K wrote: Thu Sep 17, 2020 7:00 pm If you combine what Dalio says in this interview with the latest Bridgewater paper on investing in a zero-return bond environment the main things that are mentioned that retail investors could act on are larger allocations to gold, international stocks and TIPS.
This has been the mantra of every macro hedge fund for the past few years, long before COVID or any related fallout, that I can recall at least. I would add that they also seem to have been massively pro-value and pro-EM during the same time period. I think those are all fine really (I tilt that way also, so I don't claim to be some kind of wise guy), I think it will be great/fine in the long run, but these guys are timing the market and look a little silly when they time the market for years and it still hasn't turned in their direction. Every robinhood joker that went 100% QQQ has likely trashed these hedge funds in terms of absolute return and risk adjusted return for the the last 4+ years. Probably doesn't need to be said here but the silliest looking people of all are the ones paying 2 & 20 to these shops.

Also, just want to point out that based on an interview I heard from a former Bridgewater employee, even your stereotypical UHNW individual can't put their money with them, according to the employee (don't recall the name), their clients are strictly institutions/endowments. I suppose if you're a multi billionaire sheltering money in a nonprofit you could be a client.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by nisiprius »

Kevin K wrote: Thu Sep 17, 2020 7:00 pm If you combine what Dalio says in this interview with the latest Bridgewater paper on investing in a zero-return bond environment the main things that are mentioned that retail investors could act on are larger allocations to gold, international stocks and TIPS.
Thanks.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by teelainen »

Robot Monster wrote: Thu Sep 17, 2020 9:50 am Do you have an investment question relating to this, like, "Should I invest in foreign currency assets because of this?"
Yes, should I increase my asset allocation in foreign-denominated assets? If yes, which countries in particular?
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by eye.surgeon »

Valuethinker wrote: Thu Sep 17, 2020 10:14 am
staustin wrote: Thu Sep 17, 2020 9:47 am Hard to argue with his premise and the history of prior empire declines supports his argument. We are engaged in debt monetization and currency debasement. And emerging economies and structures are being put in place which will eventually allow for more and more trades in local currencies. A smart investor would have downside protection to a dollar decline.
And Japan and Europe?

They are doing same things.

Maybe we go back to the British pound? ;-)
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by teelainen »

nisiprius wrote: Thu Sep 17, 2020 6:28 pm
Kevin K wrote: Thu Sep 17, 2020 5:41 pmDalio: First, worry as much about the value of your money as you worry about the value of your investments. The printing of money and the debt should make you aware of that. That’s why financial asset prices have gone up — stocks, gold — because of the debt and money creation. You don’t want to own the thing you think is safest — cash.

Second, know how to diversify well. That includes diversification of countries, currencies and assets, because wealth is not so much destroyed as it shifts. When something goes down, something else is going up so you have to look at all things on a relative basis. Diversify well and worry about the value of cash."
How is this actionable for retail investors? He gives no real specifics here, other than "worry about cash."

Which countries? What currencies?

In 1961, in the James Bond novel "Thunderball," supervillain Ernst Stavro Blofeld says that SPECTRE keeps all its funds in "Swiss francs and Venezuelan bolivars in which for reasons of prudence--they continue to be the hardest currencies in the world--we convert all our takings." If not Venezuelan bolivars, then what? How does Dalio advise a US retail investor to invest in foreign exchange? Certainly I can do a web search for answers, but is Dalio giving us any concrete actionable advice here?

"Diversify assets." Into what "assets," specifically? Canadian farmland? Thomas Kinkade paintings? Cigarettes?

I don't see any advice here other than "worry about dollars."
Based on his latest 13F Filings with the SEC, he increased his stakes in these positions:

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GLD - SPDR Gold Trust
FXI - iShares China Large-Cap ETF
BABA - Alibaba
MCHI - iShares MSCI China ETF
Valuethinker
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Valuethinker »

staustin wrote: Thu Sep 17, 2020 10:49 am
Valuethinker wrote: Thu Sep 17, 2020 10:14 am
staustin wrote: Thu Sep 17, 2020 9:47 am Hard to argue with his premise and the history of prior empire declines supports his argument. We are engaged in debt monetization and currency debasement. And emerging economies and structures are being put in place which will eventually allow for more and more trades in local currencies. A smart investor would have downside protection to a dollar decline.
And Japan and Europe?

They are doing same things.

Maybe we go back to the British pound? ;-)
Yes! :sharebeer Britannia casts off its european overlords and returns to glory! Boris will save us all.

Sadly the dollar will eventually go the way the of the Dinari.

As for actionable, look to Asia, learn Mandarin, invest in the Yuan.
The Renimbi is a controlled currency so it is difficult to "invest" in it?
Seasonal
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Seasonal »

teelainen wrote: Thu Sep 17, 2020 11:06 pm Based on his latest 13F Filings with the SEC, he increased his stakes in these positions:

SPY - SPDR S&P 500 ETF
GLD - SPDR Gold Trust
FXI - iShares China Large-Cap ETF
BABA - Alibaba
MCHI - iShares MSCI China ETF
The S&P 500 seems an odd investment to increase for someone recommending diversifying away from the US.
bck63
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by bck63 »

teelainen wrote: Thu Sep 17, 2020 9:24 am Just 2 days ago, Dalio issues a warning about the US dollar’s future as the global reserve currency. I'm not saying that I disagree with him, but what could possibly be the alternative to the US dollar right now?
I used to watch his videos on youtube. I don't anymore.
Seasonal
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Seasonal »

Valuethinker wrote: Fri Sep 18, 2020 1:41 am The Renimbi is a controlled currency so it is difficult to "invest" in it?
Controlled means the Chinese central bank restricts the range in which it trades, not that you can't buy it.
Alchemist
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by Alchemist »

Stop listening to Ray Dalio. He gets his talking points from the CCP.
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Re: Ray Dalio issues stark warning about US dollar’s future as global reserve currency

Post by oldcomputerguy »

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