An Urgent Warning on the Times Ahead with the Founder of the World's Largest Hedge Fund: Ray Dalio (#89)
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What Is Money and How Many Claims Do You Have?
Seven out of ten countries had their wealth wiped out at least once, and others had a decade or more of terrible returns. Can you talk about the periods of decline and negative returns? Well, what happens s it's gone back thousands of years, there's always the issue of how many claims you have on money. And when those claims get large, they can't be met. So if you want to turn in your wealth and get your real wealth, it can never happen. When that becomes very large, and also that happens at the ame time as there are large wealth gaps, then the real returns have to go down.
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