Ray Dalio Sees U.S. Debt Crisis Echoing Japan, Backs Gold And Bitcoin

Bridgewater Associates founder Ray Dalio said the U.S. debt story is set to repeat Japan’s, warning of a debt crisis in about three years unless Washington changes course and urging investors out of government bonds and into gold and Bitcoin. According to BeInCrypto, he said Japanese bondholders lost 51% against dollar debt and 76% against gold after 2013, while Japan’s four biggest life insurers now hold about $96 billion in paper losses on government bonds.Dalio said the U.S. will collect about $5.5 trillion this year, owe roughly $1 trillion in interest and refinance another $10 trillion of maturing debt, while Bitcoin traded near $77,502 and gold hit $4,604 an ounce on Friday.