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    Is Ray Dalio a Bitcoiner? Hedge Fund Manager says The System is Broken & Central banks’ Attempts are “Futile”

    Ray Dalio, billionaire hedge fund manager, recently wrote 'The World Has Gone Mad and the System Is Broken' as many associate his take with bitcoin and its benefits as a whole.

    Just a few days after the Federal Reserve cut interest rates for the third time this year and the US national debt hit $23 trillion for the first time, billionaire hedge fund manager Ray Dalio released yet another LinkedIn post titled, “The World Has Gone Mad and the System Is Broken.”

    According to Dalio, it will fall upon the Fed to fix the largest gap, US Federal deficit sees an increase of 26% from 2018, seen in several years by printing more money.

    And the central bank buying financial assets to push economic activities and inflation up is a “futile attempt.”

    The System is Broken

    Central banks he says, has been giving cheap money to investors that have been injecting it into companies that aren’t contributing to economic growth and are often unprofitable. “The system of making capitalism work well for most people is broken,” he wrote.

    Apart from giving enormous amounts of cash to these investors at ultra-low rates, he attacked the large govt. deficits that he says will “certainly increase substantially” that will require the government to sell “huge amounts of more debt” that can’t be done without driving up the interest rates. “This whole dynamic in which sound finance is being thrown out the window will continue and probably accelerate,” he wrote.

    Dalio further took a shot at pension funds “that have investments that are intended to meet their pension obligations use assumed returns that are agreed to with their regulators.”

    The solution to these issues are printing more money, raising taxes, or slashing benefits. And no matter the option they choose to go with, it will only worsen the wealth gap.

    “Dalio a Bitcoiner & Hasn’t even Realized it Yet”

    Though Dalio is not into Bitcoin and believes it to be a “speculative bubble,” Morgan Creek Digital’s Anthony Pompliano believes these write-ups suggest him to be a Bitcoiner. “Ray Dalio is a Bitcoiner and hasn’t even realized it yet,” said Pomp.

    Not directly, but in his July piece called “Paradigm Shifts” when Dalio talked about finding “the next-best currency or storehold of wealth” during a time when most central bankers want to devalue their currencies in a fiat currency system, the crypto community took it as an indirect endorsement of the leading cryptocurrency.

    Given the fact that, unlike fiat currencies, Bitcoin can't be printed endlessly, isn’t controlled by a single entity, and has been the best performing asset, this holds true to some extent.

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    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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