Ray Dalio

If you were traveling through time and you went before 1971 and so on, and you saw history and you saw the...

universality of money and gold and how the whole system worked repeatedly over time, you would understand there's that dynamic that's taking place.

But yes, people think, they misunderstand, they think it's a metal to speculate on.

They don't realize that actually it's a money.

Okay, central banks, second largest money, okay?

So it's almost like when you look at the world,

through that money, you can see what things cost through that lens.

People are looking at it instead, like through a dollar lens, and they see gold go up, okay?

But that's not what they're looking at.

You could look at the world through a gold lens and see money go down, okay?

So all I'm saying is because of their experience and what it is, it's implausible.

It's like, you know, the tooth fairy or Santa Claus.

You know, you believe in these things and so on, and then you realize through the cycle.

And that's why surprises take place.

That's why it seems implausible.

But if you read history, it's almost implausible.

You know, it's logical.

Um...

I don't want to, that's one of those headline presuming.

Let me say it this way.