"the following is a conversation with ray dalio his second time on the podcast he is a legendary investor founder of bridgewater associates author of a book i highly recommend called principles and als..."

"when you look at the history of the world as you have done in your new book principles of dealing with the changing world order what is more important more impactful money or power they go hand in han..."

"um and and so you see this throughout history this symbiotic relationship you know um for example between um the royal families the nobility and the church so you see that group of people supporting e..."

"anymore but you still see the same dynamic you see those with money dealing with those who have political power around those assets that are considered most valuable to particularly the productive ass..."

"the coordination of those that determines how the country is run you write that the quote archetypal big cycle governs the rising and declining empires and influences everything about them including t..."

"order so that the united nations was in new york the world bank and the imf were in washington and they built that new order so classically you have a war to determine whose rules we're following and ..."

"built that prosperity in that process of doing that they create wealth gaps naturally those who make a lot of money make a lot more and than those that don't and it also produces opportunity gaps beca..."

"expensive um and and newer countries come along like um the uk um then uh be learned to build ships from a lot the dutch and could do that less expensively and also when they become more expensive so ..."

"and to you the dutch empire is a good example that the british what are some of the key examples that you think about in the book of this process that follow the big cycle well the leading reserve cur..."

"that shows the picture of where we are today and i think one of the most important things about the book is that it allows people to monitor how those things are transpiring i think for policy makers ..."

"dollar denominated bonds because as the world's reserve currency they sell sold on them and they have very bad returns negative real returns negative real returns significantly and so on so that um me..."

"but i'll get into some of the other ones too right now um there's a lot of internal conflict in the united states uh which affects its and um how well it works um in china there's less internal confli..."

"also there are different types of conflict uh competition which makes things makes everything better is is a productive conflict whereas destructive conflicts are not good over the short time so you k..."

"but education is not just uh education in understanding facts and so on it is education and um civility of how to behave together and so if they're smart they understand how to be productive because t..."

"if you were to look at the american nation the american empire and the trajectory is looking into the future given these measures what is the trajectory that leads to the collapse of the american empi..."

"um but um it's sort of along the lines that i'm i'm dealing with if you were to follow through in terms of um actual productions i i think uh you you know in terms of technologies um there are some ar..."

"care of itself but you make it sound simple of course because there's a momentum when things degrade when the education system degrades when you start borrowing when um i mean all of these indicators ..."

"whatever they do if they do it that way i can say i'm happy about because that other alternative is the really scary alternative the the scary alternative the different ways it has evolved throughout ..."

"have the competition between those other kinds of wars and whoever is strongest in those areas will um win where do you put cyber war within the five well cyber war is a military war i'm assuming the ..."

"that the property developers had to live within and that is then causing the adjustments that are going on now which in my view are very healthy because um whenever there's uh bankruptcies and so on t..."

"for society well they have a view which is the idea of a dialectic which means that two things are at obvious that everything comes with pros and cons and two opposites exist and you want the benefits..."

"so the kind of the trend that started in 2020 this or i mean i mean i suppose it's been there it's been growing a rep one representation of this internal disorder has been the growing trend of being s..."

"against the other group and so since then it's been like that and it continued to grow you've mentioned the vulnerability of democracy that internal disorder is the vulnerability of democracy what's t..."

"as far as an autocratic system rather than um one man one vote from the population up the risks of the autocratic system is that there's enough discontent that arises that the system doesn't have the ..."

"what you see normally that movement is that one of the systems is it is not working let's say the democracy is not effectively everybody's arguing with each other and nobody's getting anything done an..."

"um what his position is strong leader um popular um [Music] these are not subjective interpretations these are uh objective interpretations yeah it's interesting just in this conversation you're not s..."

"more i was very lucky because as i say uh you know since 1984 so for more than half of my life i've been going there and i and the common people and all sorts of people and i've got to meet them i don..."

"98 years old and he's equally able to do that and he has a background that in which he's a historian so he really understands history super um he doesn't understand economic history as much so that's ..."

"doing whether it's business deals or um political negotiation or geopolitical negotiation i'm often surprised again sorry to go to the russian thing because i i i hear sort of like i hear putin talk i..."

"that's at some kind of distortion and there's a lack of understanding of really what's going on if it's okay let me ask you a couple questions about cryptocurrency uh you've had a few opinions about b..."

"but there'll be many monies not just crypto monies but there'll be central bank crypto monies um but they'll be uh different kinds of monies um and even monies um are things that you buy and sell nfts..."

"things will be uh trashed so um um but when i look at it um i think we are in an environment of you know what is an alternative money a money has two purposes a medium of exchange and a storehold of w..."

"the other but it's a little bit part of my mix but then you look at it it hit i think 69 000 this year as the high bitcoin hit do you think it's possible you mentioned gold do you think it's possible ..."

"official currency maybe uh reserve currency on the moon and on mars my reaction is that's cute i remember elon when he first got he he first got his money from paypal i think he said to me it was he g..."

"you've uh talked about the importance of writing ideas down and uh you have principles in particular in principles and you have this really nice thing in your in your book we actually um i think there..."

"it's so much easier to make decisions and it's so much less confusing because it's like coming up on a species and you say okay well what species is it not just another it's a thing no what species is..."

"minute to answer it you dedicate the book quote to my grandchildren and those of their generation who will be participants in the continuation of the story may the force of evolution be with you so le..."