(Bloomberg) — There\u2019s been an ongoing general diversification away from US assets, especially by global central banks, according to Ray Dalio, the founder of hedge fund firm Bridgewater Associates.<\/p>\n
\u201cWhen you look at gold being up 67%, it\u2019s not a precious metal that goes up 60%,\u201d Dalio told Bloomberg Television\u2019s Francine Lacqua in Davos on Thursday. \u201cIt was bought by central banks particularly, but others, and in order to diversify fiat currencies, not just dollars.\u201d<\/p>\n
Most Read from Bloomberg<\/p>\n
Weighing in on global tensions, he said a lot of attention is being paid to the trade war, but very little to what he called a \u201ccapital war\u201d and how it works pertaining to the markets. Referring to US President Donald Trump ruling out the use of military force in his bid to acquire the sovereign Danish territory of Greenland, Dalio said the speech \u201cwas very important because there is a line, red line.\u201d<\/p>\n
\u201cIf there\u2019s a military move, it has capital-war implications,\u201d Dalio added.<\/p>\n
The topic of diversification away from US assets has been gaining ground following transatlantic tensions and the prospect of a fracturing of NATO as Trump cranked up his threat to take over Greenland. Danish pension fund AkademikerPension said it\u2019s planning to exit US Treasuries by the end of the month, citing credit risks too big to ignore. UBS Group AG Chief Executive Officer Sergio Ermotti, however, has warned that the temptation to weaponize holdings of US government debt is a \u201cdangerous bet.\u201d<\/p>\n
Billionaire Dalio, 76, founded Bridgewater in 1975. Last year, he completely exited the firm, selling his remaining stake and stepping down from the board. The firm has been in reboot mode since Nir Bar Dea became sole chief executive officer in 2023.<\/p>\n
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\u00a92026 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — There\u2019s been an ongoing general diversification away from US assets, especially by global central banks, according…\n","protected":false},"author":3,"featured_media":534778,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[3638,49360,4330,64,79,158165,236727,5005,4326,67,132,68],"class_list":["post-534777","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-bloomberg","tag-bloomberg-television","tag-bridgewater-associates","tag-business","tag-economy","tag-francine-lacqua","tag-global-tensions","tag-president-donald-trump","tag-ray-dalio","tag-united-states","tag-unitedstates","tag-us"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115939273891929324","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/534777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=534777"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/534777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/534778"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=534777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=534777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=534777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}