‘Gold is now the second-largest currency’ – Ray Dalio on how ‘capital wars’ drive buyers into bullion

From kitco.com

It’s no surprise that central banks and sovereign wealth funds are pivoting away from Treasuries and towards gold, and history shows that the present moment is a perilous one, according to Ray Dalio. In a candid conversation with the WSJ Leadership Institute’s Alan Murray at the World Economic Forum in Davos last week, the Bridgewater Associates founder discussed the ongoing convergence of debt, capital flows, domestic politics and international conflict. Dalio stressed that the debt cycle works the same way whether for an individual or a country, except that a government can print money. “When you have very ... (full story)