Dalio, the founder of hedge fund firm Bridgewater Associates explained on CNBC Squawk Box on Feb. 2 that the mass money printing of the United States Dollar and other reserve currencies has him questioning whether they are forms of “effective money.”
“We are in a world in which money as we know it is in jeopardy. We are printing too much, and it's not just the United States, it is all the reserve currencies.”acknowledging that despite what it has accomplished"It's not going to be an effective money. It's not an effective store holder of wealth. It's not an effective medium of exchange," he argued.
He also dismissed stablecoins as an effective form of money as it is a replica of state-backed fiat currency. Instead, Dalio proposed the creation of an “inflation-linked coin” that would serve to ensure consumers secure their buying power. “The closest thing to that is an inflation index bond, but if you created a coin that says OK this is buying power that I know I can save in and put my money in over a period of time and transact in anywhere, I think that would be a good coin,” he said.
Source: Digital Coin News (digitalcoinnews.net)
Yes, and it should be made out of gold ...
Ray! If you change the unit of account to sats, you lose the volatility!!! 🤷🏻♂️🤦🏻♂️
Ha when the market completely crash’s the only decent stablecoin to Hold will be dai as it’s not pegged to the dollar. They have take measures to reserve their entire supply supply = recession proof. Take note people.
Stablecoins will keep strong fiat currencies alive for a lot longer tha people realize. They effectively unlock huge new markets for USD/EUR (at the expense of other fiat shitcoins).
Doesn't take a genius to see its too volatile to act as a medium of exchange (money's primary role)
He should study bitcoin harder
Those who benefit from inflation coins are those who get new coins first, such as RayDalio. Its a hidden tax for everyone else.
Amazing illustrations
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