by Simon Black
Sovereign Man
Last week I wrote to you about billionaire hedge fund manager Ray Dalio’s most recent advice for people to diversify their investments OUT of the US dollar.
Dalio didn’t pull any punches when he laid out his analysis for America’s economic future.
He warned readers of the very real risk of stagflation (starting “late this year”) and tax increases that could be even “more shocking than expected”.
He also advised people to anticipate the possibility of capital controls and prohibitions against assets like gold and cyptocurrency.
All of this, he wrote, means that “the United States could be perceived as a place that is inhospitable to capitalism and capitalists,” and he advised readers to think about “currency diversification, country diversification, and asset class diversification.”