Let's step back from the sensational and and be clear about what I mean. The monetary order is breaking down. Okay.What I mean by the monetary order is that fiat currencies as an and debt as a storehold of wealth is not being uh held by central banks in the same way and that there was a change. The biggest market to move last year was the gold market far better than the tech markets and so and so on. And it the US markets underperformed foreign mon markets because of the fact you could see it in the numbers ...

Core Insights - Ray Dalio warns global leaders that the old rules of the economic order no longer apply, emphasizing the need for a new understanding of the geopolitical landscape [1][2] - Dalio identifies a "breakdown of the monetary order," attributing it to decades of monetary decisions that favored money printing over natural debt resolution [2] Economic Cycles - Dalio highlights the importance of historical economic cycles, noting that patterns repeat over time, akin to watching the same movie [2] - He points out that the "money-debt cycle" is a critical force driving current economic instability, rooted in decisions made since the U.S. abandoned the gold standard in 1971 [2] Monetary Policy and Central Banks - The current behavior of central banks reflects a shift in how fiat currencies and debt are perceived as stores of wealth, with a noticeable decoupling from traditional practices [3] - Dalio observes that U.S. markets are underperforming compared to foreign markets, indicating a changing dynamic in global central bank balance sheets [3] Capital Wars - Dalio expresses concern over the transition from trade disputes to "capital wars," highlighting the diminishing global appetite for U.S. Treasury bonds [4] - He notes a supply-demand issue regarding U.S. debt, suggesting that there may be less inclination among investors to purchase it [4]