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Linkedin/Ray Dalio/5-21-2020
“In brief, after the creation of a new set of rules establishes the new world order, there is typically a peaceful and prosperous period. As people get used to this they increasingly bet on the prosperity continuing, and they increasingly borrow money to do that, which eventually leads to a bubble. As the prosperity increases the wealth gap grows. Eventually the debt bubble bursts, which leads to the printing of money and credit and increased internal conflict, which leads to some sort of wealth redistribution revolution that can be peaceful or violent.”
USAGOLD note: Dalio – using Holland and Britain as examples – shows how empires cycle in a predictable pattern and how global reserve currencies issued by those empires cycle with them.