The Global Economic Order on the Brink

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 1 May 2025

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of The Breakdown, host NLW explores legendary investor Ray Dalio's recent update on the shifting global monetary order. Dalio asserts that the U.S. is nearing a significant decline due to unsustainable economic fundamentals, and nations are now actively reducing their dependence on the U.S. dollar. NLW discusses Dalio’s vision for a cooperative, negotiated global financial realignment rather than a chaotic collapse, highlighting the potential roles of Bitcoin, stablecoins, and digital assets within this transition. The episode concludes with a comprehensive overview of how key countries—including the U.S., Canada, Russia, the UK, and South Korea—are shaping their crypto policies in response to these global changes, underscoring digital assets' increasing influence in international economic strategies. Sponsored by: ⁠⁠⁠⁠⁠Crypto Tax Calculator⁠⁠⁠⁠⁠ Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don’t miss out - offer expires 15 April 2025! Ledger Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on ⁠⁠⁠⁠⁠Ledger.com⁠⁠⁠⁠⁠. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:08.3	It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world.
0:18.4	What's going on, guys? It is Wednesday, April 30th, and today we are talking about the monetary order on the brink.
0:24.9	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,
0:28.3	give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:31.7	come join us on the breakers discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. Well, friends, legendary investor Ray Dalio has added a new chapter to his thesis about the changing
0:41.8	world order. In an essay shared on Twitter, Dalio wrote, It's Too Late, the Changes are coming.
0:47.6	Dahlio's previous thinking had been all about the transition from American to Chinese leadership
0:51.3	in the monetary order, informed by the long debt cycle that
0:54.2	inevitably brings empires to their knees. People around the Trump administration are obviously
0:58.4	familiar with this thesis. It's referenced constantly on the All In podcast, which of course has
1:02.9	very direct ties through crypto-NAIs are David Sachs. What's more, administration figures like Scott
1:08.1	Besson, Howard Lutnik, and Stephen Moran move in the same hedge fund and finance circles. Their prescriptions for reversing the decline of U.S. hegemony
1:14.7	seem targeted at the symptoms pointed out by Dahlio. However, in this new writing,
1:19.1	Dahlio suggests it's all for not. Dahlio claims that trade partners are expressing a need
1:23.0	to drastically pull back from the U.S., quote, recognizing that whatever happens with tariffs, these problems won't go away, and that radically reduced interdependence with the U.S.
1:31.1	is a reality that has to be planned for. Dahlia's thesis isn't about trade or manufacturing.
1:36.3	These are just part of the picture as the U.S. loses control of the monetary order.
1:40.0	He writes that the United States' role is the largest consumer and the greatest producer of debt to finance that overconsumption is unsustainable, adding, assuming that one can sell and lend to the
1:48.4	U.S. and get paid back with hard, i.e. not devalued dollars on their U.S. debt holdings as naive
1:52.9	thinking. So other plans have to be made. According to Dahlio's indicators, quote, we're on the
1:57.8	brink of the monetary order, the domestic political and international world
	...

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