The World Economic Forum (WEF) meeting in Davos, Switzerland, which started on May 22 and closes on May 26, has ruled the news this week. Ray Dalio, the founder of Bridgewater Associates, speak at the occasion about the present status of the economy, the Federal Reserve, money, and digital currency.
Dalio talked about the eventual fate of cash and the Federal Reserve’s next financial approaches again. The flexible investments administrator feels the Fed must choose the option to sell.
“The Federal Reserve will sell, individuals will sell, foreigners will sell, and the United States government will sell because it needs to fund its deficit,” according to an excerpt from Dalio’s interview. “There will be a supply/demand problem, which will result in a squeeze,” he continued.
At the WEF occasion, the organizer behind Bridgewater Associates expressed that money is at present junk. “Obviously, cash is still junk,” Dalio told a columnist from CNBC. The mutual funds chief asked, “Do you have any idea how rapidly you’re losing purchasing power in real money?” Dalio proceeded to make sense of what he implied when he said cash is junk.
“When I say cash is trash,” Dalio clarified, “I mean all currencies in relation to the euro, in relation to the yen.” “All of those currencies, like those of the 1930s, will depreciate in relation to goods and services.”
Dalio examined cryptographic forms of money as a sort of computerised gold in Davos, as well as talking about monetary standards and cash.
“Cryptocurrencies in particular – I think blockchain’s great,” Dalio said to the host of CNBC’s broadcast Squawk Box. “But let’s call it a digital gold. I think a digital gold, which would be a bitcoin kind of thing, is something that—probably in the interest of diversification of finding an alternative to gold—has a little spot relative to gold and then relative to other assets.”
Read more:
Georgian PM urges Ripple CEO to consider establishing Ripple service centre in Georgia
 meeting in Davos, Switzerland, which started on May 22 and closes on May 26, has ruled the news this week.){kind=link}