I watched this one recently and it opened some more areas to think about. His YT channel has shared his interview about BTC and expressed an open mind about the tech. The YT video on the book was an effective promotion and it made me want to search for a hard copy available as soon as I finished. 

Hey @geekgirl ! 

I started reading this book recently (see the #Leofinance cameo, hehe):
https://leofinance.io/@alex-rourke/the-times-ahead-will-be-radically-different-from-those-we-ve-experienced-in-our-lifetimes
![Ray Dalio Principles.jpeg](https://images.hive.blog/DQmcoCTkRtwjsLM1Ajx4GbLJKCZdpewjeHahfaYDGWGtAKn/Ray%20Dalio%20Principles.jpeg)

I've quickly found it to be very interesting with lots of valuable information. I'd love to discuss them with you in future posts :)

@scaredycatguide is an avid Ray Dalio reader.

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!LUV

I watched this video too... and while the video is extremely well done, and I thought it was pretty clear that Ray thinks China could very well hold the new global reserve currency and become the new world leader, I think that China has a bunch of its own problems that might hold it back. The real estate crisis, the aging population and the water issues to name a few.

I disagree with you about there not needing to be a global leader.. I think there will always be a single country that stands out and others look towards for leadership. I think it's just natural for one country to be doing better than all the others.. and I liked Ray's point that it's not a single decision, but essentially the market deciding over time.

I can't imagine Bitcoin becoming the global reserve currency... it's way too slow, way too scarce, too power intensive and not adopted enough. I'd honestly put money on the Euro being the new global reserve currency if the USD slips.

I recently read Principles for Dealing with the Changing World Order, and really liked the book. If you contemplate getting it as an audio book, make sure to check out the included pdf with tons of stats and graphs as well!

Regarding being a super power, he (correctly, I think) separates it into different key determinants, where military power is one – other determinants being education, innovation and technology, competitiveness, trade, economic output, financial center and reserve FX status.

BTC could potentially remove the reserve FX status from the eqution, and longer term de-fi could remove the need for financial centers. However, there would still be several other axies to compete along for different groups (it being nation states, coorporations or internet communities).

As I perceive it, Dalio's material is far from a money grab. He got more than enough of it already, and also he's providing a ton of additional free content, that is kept updated. Check out these [papers](https://economicprinciples.org/#cwoResearchPapers) for instance. To me it seems that he really care about these subjects, and is driven by a sincere urge to educate and share the knowledge he has accumulated over the years.

If you're a bit of a history buff, I'm currently reading "The Storm Before the Storm: The Beginning of the End of the Roman Republic", which certainly reminds me of today's situation in the US. Note that it's not the fall of the Roman Empire, but of the Republic – so the period leading up Caesar seizing power. Maybe I'll write a post on it after having read the whole book... 🙂

It's good to try and learn for all different people and differing points of view. Even is it's just for understanding, then its something that you don't agree with or feel is right. Good to just try see and understand.

Honestly I am not sure if bitcoin will be there forever as a global value exchange media despite my optimistic view. However, one thing I am very confident about is that bitcoin and blockchains have enlightened the creative minds of the new generation. 

Now they know that value cycles can exist without coercive power and that notion itself is enough for creating a brand new order of future economy. With or without bitcoin.

That is the most powerful thing in the world and nobody can take it away.

This is a very informative post.

I agree with you...

Talking about the changing world order without talking about a disruptive technology such as Bitcoin is to omit the most critical aspect of the changing world order.

I personally do not see Bitcoin becoming a global reserve currency for the sole reason that it is unstable...


Bitcoin has experienced extreme fluctuations in value and that puts a lot of merchandise tied to it at risk...

World reserve Currencies being tied to the supremacy of a state is the past... And while it would certainly  be the case that a lot of history is repeated, disruptive technologies make it impossible to completely repeat history.

The issue with China is a lot of their companies that are being heavily funded by their government and are still defaulting on loans. They can’t even pay basic employee salaries and have not for months. 

US imports from China dropped like a rock during the pandemic. China has always struggled with overproducing and being left holding the bag taking decades sometimes to offload everything. If the dollar dies so will many of the biggest importers of Chinese goods around the world. 


I find it rather odd how many companies in the US have been advertising that people need to have exposure to the Chinese markets. This seems like people trying to offload their positions to get out of china leaving their retail investors holding the bag. China has been on a massive spree of trying to broker new and bigger trading partners for a while now I don’t think it will be enough. 


The game is so rigged against retail investors it’s disgusting. Between dark pools and market makers they never stood a real chance no matter what markets they are in. With the way companies like Robinhood make their money it’s not that shocking. 

It's an interesting video. By looking at history, you can see definite patterns and learn from them. I don't really believe him with everything but it makes me wonder if there is going to be another war before things reset. 

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The video sounds like one of those circular promotional things like the ones created by all sorts of financial and self-help gurus. They have books that give you an incomplete story but continuously talk about their seminars that they hold around the world that they push on the reader throughout the entire book. Then the seminars are more of the same thing, an incomplete story that does nothing but push their book on you. It ends up being just a big circle jerk, and the only information they provide in the end is basically just about having a certain mindset. Like having the right mindset will change your life lol. (There is some truth to that of course but often it's not why you originally bought the book). 

Anyway, your synopsis of the video actually sounds interesting regarding reserve currencies and the rise and falls of empires. China as a rising empire has been talked about a lot and you can see it's workings all over the place. It has taken over the majority of global manufacturing obviously and I even suspect that it is the reason for the insane housing market in Canada at the moment, which is mostly due to foreign investors driving up the prices. They are playing a strong game right now that's for sure. 

With the amount of uncertainity going on. Many will give advice confidently and yet they are merely speculating and hoping something they say play out..Ray gives great advice i just hope he doesn' t end up loosing credibility as he seeks to be relevent

To me , china can't become world leader now , because they have some challenges that they are facing currently now. I think that ,there will be a time one country will be announce as a leader. I don't believe that bitcoin becoming global reserve currency.

This is great. It makes you appreciate things more, not take things for granted. I think to be a world leader you should be able to solve the world's problem. Be more resilient and to listen and flexible. Give and take is important. !

I admit, watched his video only to half. It was educative to learn again that we need to fight the printer with some assets. And like you say, the world forces are changing through intervals. Will China take the lead? As our western society starts to mimic their "democratic" approaches, I tend to believe they are already forefront. You know how good they use their social score? They are masters, we will just become the learners. I hope not:)

> *"Changing World Order"*

Indeed.  As very clearly portrayed in this well-written [book](https://www.barnesandnoble.com/w/red-handed-peter-schweizer/1140863725), Ray Dalio would know something about it.  As he and "his kind" have played a key role in attempting to bring it about ...

The subtitle of this book?

*"How American Elites Get Rich Helping China Win"*

The "US Empire" is in decline?  And Ray's contribution?

> *"He goes to suggest the next contender for becoming the empire and whose currency may become a global reserve currency is China."*

Volumes have been written about America's role in helping China achieve its current position of prominence, beginning with Henry Kissinger's "[secret trip](https://www.wbur.org/hereandnow/2022/02/18/great-wager-kissinger-china)" in 1971 (any parties interested in reading about it will find great difficulty finding any stories about it which are not heavily ... "slanted," by the Chinese).

So ... 50 years later ... Yes, Ray would say this, as he has a ... "personal stake," in ensuring this outcome.

> *"After watching the video, I was not impressed with it at all."*

Glad to hear this @geekgirl.

---

> *"We live in a different world compared to the entire human history. The technological advancement put us in a very different position then we were in at any point in our history"*

Yes, no question of this.  Does it follow, from it, your argument that is a favorite of crypto enthusiasts the world over?  You and I are likely to live through finding out ...

Fascinating times we live in!


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I stopped at 18:28. Very interesting and very educational video. It reminds me of that "temporary" suspension announced by Nixon that lasted 51 years already. This tells us that it is not really easy to read the civil government's intention behind public announcements. 

I will take dinner for a while and will continue watching later. 

Thanks for sharing! 

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by Ray Dalio I have read a part of the book “the principles of success” and I admit that Ray Dalio gives excellent advice.

Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods thereby revealing why the times ahead will likely be radically different from those we’ve experienced in our lifetime but similar to those that have happened many times before. Dejavu , Lol .

I literally just watched this the other night, good lesson on history and empire. Very interesting information on the world reserve currency and what we can learn from the past. Makes me wonder if usd is devalued then so would usd backed stablecoins. Gold backed stablecoins are interesting and if BTC becomes less volatile then perhaps even BTC backed stablecoins. 

Someone should tell him that the next contender is not China's currency, but could be Bitcon or a cryptocurrency.

I think that the more technology advances and people rely heavily on it, but people's awareness begins to decline and the intelligence of the individual decreases, as the abundance of information and the ease of finding it makes it worthless. like the book, this is the first successful step fo having Principles success
Do you think that China companies must end relation with government and became leader by itself to find solution of salaries?