Economic Crisis: Ray Dalio's Warning For The Banking Collapse, US Dollar & Upcoming Recession

Tom Bilyeu's Impact Theory

Impact Theory

Education, News, News Commentary, Philosophy, Technology, Society & Culture, Business, Self-improvement

4.7 • 5.1K Ratings

🗓️ 17 April 2023

⏱️ 121 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’re one that avoids economic news, politics, and global matters you may want to pause and lean into this conversation as an objective view of reality with historical context. These are scary uncertain times we’re living through with an entire banking system failing, politics with one agenda to divide the country, and the battle for global power. With the economic crisis unfolding before us, you have a decision to make on how you respond in this moment. No one can tell you what is best for you, but as Ray Dalio puts it, he wants you to at least understand the mechanics of what is happening so you can do your own analysis of what’s best for you. Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater, a billionaire investor, and bestselling author, joins Tom for a sobering conversation about the obvious problems with banking causing its collapse and the moment in time we’re facing with global conflicts on the rise. The emphasis is on understanding the mechanics and knowing what to look for and how you’ll respond. Ray shares valuable insights on the way banking works, why the collapse of SVB was obvious, the 6 cycle trend that sees the rise and fall of empires, and 3 tiers of security you can put in place for yourself. Ray Dalio has decades of experience, knowledge, and learnings he’s put together his books, Principles: Life and Work, Principles for Dealing with the Changing World Order, and video content he’s made freely available on his YouTube channel for everyone that values truth and radical honesty. Check out Ray’s video mentioned in this episode, Principles for Dealing with the Changing World Order: https://youtu.be/xguam0TKMw8 QUOTES: “One man’s debts are another man’s assets.” “It’s not safe because I’m losing money to inflation.” “We know we’re going to have financial problems and economic problems at the same time that we have this internal fighting and this external risky situation.” “When we think about safety we have to think about that as purchasing power.” “You as an individual should think about the total safety, including maybe that terrible scenario doesn’t happen, and if you do that you will come to a better balance decision.” “To be financially strong requires you to not spend more than you earn.” Follow Ray Dalio: Website: https://www.principles.com/ Twitter: https://twitter.com/RayDalio Instagram: https://www.instagram.com/raydalio/ YouTube: https://www.youtube.com/channel/UCqvaXJ1K3HheTPNjH-KpwXQ RESTART your life in 7 days: http://bit.ly/42KM8OR Click here to download your FREE guide to 100x YOUR EFFICIENCY IN 10 EASY STEPS: https://bit.ly/3F8qOJL Sponsors: Sign up for a one-dollar-per-month trial period at http://www.shopify.com/impact Visit http://www.houseofmacadmais.com/impact and use code impact for 20% off all purchases, and for a limited time a complimentary bottle of cold-pressed Extra Virgin macadamia oil! Post your job for free at http://www.linkedin.com/Lisa. Terms and conditions apply. Head over to http://www.mindpumpimpact.com to find the 5 most impactful Mind Pump fitness episodes that will transform your body and your life. Get 3lbs of Bone-in Chicken Thighs FOR FREE in every box, for a year, on top of $20 off your first order, when you go to butcherbox.com/impact and use code IMPACT Find Tools and Weapons with Brad Smith wherever you like to listen to podcasts. This episode is sponsored by BetterHelp. Give online therapy a try at http://www.betterhelp.com/impacttheory and make sure to check out our exclusive series for Mental Health Awareness month, only on Spotify. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Hey guys, I'm really excited for today's episode. This is another extremely topical one around finance and right now if you're not paying attention to what's going on in finance, you've got a rough road ahead of you.
0:13.0	And I got to sit down today with Ray Dalio for another episode. He is one of the most important thinkers on the topic of macroeconomics.
0:21.0	What is going on in the world? How it relates to you and what you should be thinking about as you plan out your financial future.
0:29.0	Now is one of those incredibly volatile times if you pay attention and you move in an intelligent fashion, you can make wise decisions.
0:36.0	But if you stick your head in the sand and aren't thinking about how these grand world changes do apply directly to you, you are going to make suboptimal decisions.
0:47.0	And that comes to your finances. Nobody is in the mood for suboptimal decisions. So guys, I hope that you get out of notepad, take notes, listen to the things that Ray and I talk about in this episode.
0:58.0	He's got just unbelievably useful insights as somebody who's built the largest hedge fund in the world.
1:05.0	This is a guy that routinely bets on the market and has come up right more than virtually anybody else ever.
1:12.0	He has a very sober way of thinking through these problems. So I hope that you guys will enjoy this episode.
1:19.0	There is a lot of amazing ground that we cover. If you enjoy listening to this episode as much as I did recording it and I think you will because it is so insightful, please rate, review and tell other people about this podcast.
1:31.0	It's exactly how we get this out to more people just like you and help them become legendary. I'm Tom Billiou and welcome to Impact Theory.
1:39.0	Talk to me about the three forces that you see that are influencing this moment. We've got banks collapsing US dollars under attack, looming recession.
1:50.0	What is going on? How do we step back and think about this moment?
1:54.0	I look at three major forces that are happening now.
2:01.0	Haven't happened in our lifetimes. But have happened many times in history.
2:08.0	And those three major forces are the creation of a lot of debt and the printing of a lot of money to buy that debt because particularly because the government is running large deficits.
2:25.0	And so they don't have enough money. So that government has to print that money.
2:30.0	So that creation of all of that debt and its financial implications and its economic implications is one force.
2:39.0	The second force is the internal conflict, the amount of conflict that's internally largely due to the largest wealth gaps that we've had since the 30s.
2:55.0	And that produces populism of the left and the right, particularly when there are financial difficulties.
3:04.0	The third force is the rising power, the challenging, the existing power, largely in the form of China and to some extent Russia.
3:20.0	So let's call it the great power conflict because in 1945, you know, there's this cycle.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Impact Theory, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Impact Theory and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.