RE:Is it already too late ? Dalio Predicts Global Debt Crisis, Backs Bitcoin & Gold | ZeroHedge Excerpts:
The veteran investor referred to “unprecedented levels” of indebtedness seen in all major countries, including the United States and China, stressing that its current levels will not be sustainable.
“It is impossible for these countries to be able to not have a debt crisis in the years ahead that will lead to a great decline of money value,” Dalio said in a speech at a financial conference in Abu Dhabi.
“Steer away from debt assets like bonds and debt”
“I believe that there would likely be a pending debt money problem,” Dalio said
“Don’t get too caught up on the twists and turns of the day-to-day headlines, and instead, think more about the big forces,” he said, adding:
“I want to steer away from debt assets like bonds and debt and have some hard money like gold and Bitcoin.”