Ray Dalio warns of banks shying away from fiat, praises gold surging

The hedge fund manager said central banks were not handling fiat in the same way, warning of a breakdown in the global monetary order.

Billionaire hedge fund manager Ray Dalio issued a stark warning for the global economy amid US President Donald Trump’s threats of tariffs and seemingly unpredictable economic policies for the country.

Speaking to CNBC’s Andrew Ross Sorkin from the World Economic Forum (WEF) in Davos, Switzerland on Tuesday, Dalio said the monetary order was “breaking down,” warning of a change in behavior of how central banks handled fiat.

According to the hedge fund manager, both fiat holders and “those who need it” were concerned about each other, creating a “big issue” down the line.    

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