Keep pulling the thread on Ray Dalio.
The Bretton Woods Agreement of 1944 established a new global monetary system and designated the U.S. dollar as the world's leading reserve currency.
The United States and China are currently roughly comparable in terms of both their total economic output and their respective shares of world trade.
Since September 11, 2001, the United States has spent approximately $8 trillion on foreign wars and their consequences.
In 1971, the United States effectively defaulted on its debt by ending the direct convertibility of the U.S. dollar to gold.
On August 15, 1971, President Richard Nixon announced that the United States would suspend the convertibility of the dollar into gold.
Ray Dalio's investment principle states that when central banks print large amounts of money during a crisis, the value of stocks, gold, and commodities will rise while the value of fiat currency will fall.
The current geopolitical environment is characterized by increasing conflict between the rising power of China and the leading power, the United States.
Although the United States has massive debt and funds its deficit through borrowing and money printing, a major sell-off of U.S. dollars and dollar-denominated debt has not yet occurred.
According to Ray Dalio's 'Big Cycle' theory, the rise and fall of great empires occur in overlapping cycles lasting approximately 250 years, with 10-to-20-year transition periods.
China's currency, the Renminbi, is increasingly being adopted and used as a global reserve currency.
The United States maintains military bases in 70 countries.
Ray Dalio asserts that current U.S. military spending is insufficient to effectively support its strategic competition with China in the Indo-Pacific region.