As it turns out, I am not the only one who sees the end of the current monetary system on the horizon. Ray Dalio, one of the world’s most successful macro investors, is writing a book on this very topic. As Ray writes each chapter, he posts it online to read for free. I have been devouring the book, and it is certainly illuminating. It completely agrees with my own rantings that we are on the precipice of a momentous change in the economic and social paradigm we’ve known heretofore.
I believe that the times ahead will be radically different from the times we have experienced so far in our lifetimes, though similar to many other times in history … The most recent analogous time was the period from 1930 to 1945. This was very concerning to me.
The Changing World Order amounts to a study of history, examining past empires and what caused their demise. The same thing leads to the ruin of every empire: maintaining an empire on a global scale is too costly. This leads to an overextended empire taking on too much debt to pay for its extracurricular activities. This leads to devaluing the empire’s currency, which is the reserve currency of the world, to pay off its debt. Currency devaluation leads to wealth gaps, social unrest, repudiation oft he currency and debt, trade wars, and ultimately war wherein the flailing empire is defeated. At this point a new empire takes the helm and its currency eventually becomes the global reserve currency. Does any of this sound familiar to you?
What’s beautiful about this book is that it’s written for the layman. Typically discussions of credit cycles and economics scare off the average Joe. However, this book is an easily digestible walk through hundreds of years of the history of empires and the big debt cycles that accompanied them. Please do yourself a favor and read it ASAP.
Eerily, much of this book dovetails with the thesis of The Fourth Turning, another must read (history) book as we are in the midst of a ‘fourth turning’ right now. The defining feature of a fourth turning is that the climax is so shocking that no one would have believed it possible only a few years before it happens. The last three fourth turnings have given us the American Revolutionary War, the American Civil War, and World War II and Holocaust.
Protect yourself and your family. #BuyBitcoin It protects your wealth from currency debasement and provides optionality should you need to move yourself to safety.
https://www.principles.com/the-changing-world-order/
Here is an easily printable word document with all the chapters of the book released until now.