Ray Dalio
👤 SpeakerAppearances Over Time
Podcast Appearances
If you're really close up and you say, when did they know that there was a breakdown?
Or when did they know that there was, let's say, the French Revolution?
There's a day that they say- Storm of the Bastille.
Right.
And there's that day and they said it.
They didn't know that.
Okay.
So it's not like they announce it or it becomes clear cut, right?
You slip into those things.
There's never that clear moment.
You can tell me, yeah.
Okay, I don't think China is going to have a, there are two purposes of a currency.
Yes.
Medium of exchange and storehold of wealth.
Right.
Okay.
Medium of exchange, it's logical that China is going to have much more of a medium of exchange type of reserve currency because it is right now the world's largest trading country.
Right.
And so people, central banks, want to hold some reserves.
in the things that they're trading in and so on.