Group 1 - Billionaire investor Ray Dalio warns that the post-World War II global order has "broken down," with rising great-power tensions, capital wars, and mounting debt risks reshaping the international financial system [1][3] - Dalio describes the current era as one of "great power politics," characterized by sanctions, asset freezes, and the weaponization of money [1][3] - The decades-long U.S.-led global stability system is unraveling, with countries increasingly prioritizing their own strategic interests over shared rules [3] Group 2 - Dalio advises investors to sell all debt and buy gold, citing that wars are financed through borrowing and printing money, which devalues both debt and currency [4] - He emphasizes that during conflicts, gold serves as the "coin of the realm," as trust in credit systems diminishes [4] Group 3 - Dalio does not endorse Bitcoin or other cryptocurrencies as a hedge against geopolitical breakdown, instead highlighting gold's historical role as a trusted store of value during financial repression [5] - The recent surge in precious metal prices contrasts with the plummeting prices of risk-sensitive markets like crypto [6] Group 4 - The narrative of Bitcoin as "digital gold" is being tested due to its recent dramatic price falls, raising concerns about its status as a defensive store of value [7][8] - Dalio's perspective suggests that the conditions of great-power conflict make gold the default store of value, further challenging Bitcoin's position [8]