Dalio: The sharp rise in gold is not a coincidence, global central banks are accelerating "de-dollarization".

Founder of hedge fund Bridgewater Associates, Ray Dalio, stated that there is a sustained de-dollarization trend globally, especially at the level of central banks. Dalio said in an interview at Davos on Thursday, "When you see gold rise by 67%, it's not just a simple 60% rise in a precious metal," "Gold is being bought up in large quantities by central banks around the world, especially by other investors, with the aim of diversifying their legal currencies, not just moving away from the dollar." Speaking about global tensions, he mentioned that people are focused on trade wars, but pay little attention to what he refers to as a "capital war" and its impact on market operations. Regarding US President Trump's comments on seeking to acquire Greenland without the use of force, Dalio believed this statement was "very important, because it draws a bottom line, a red line." Dalio added, "If there is military action, there will be consequences on the capital war front." With tensions escalating across the Atlantic and Trump's increased threats to take over Greenland leading to the possibility of NATO facing division, the topic of reducing US assets is becoming more intense. Danish pension fund AkademikerPension stated that due to credit risks becoming too significant to ignore, they plan to exit the US bond market by the end of the month. However, CEO of UBS Group, Sergio Ermotti, warned that "weaponizing" the US government debt they hold is a "dangerous gamble." The 76-year-old billionaire Dalio founded Bridgewater Associates in 1975. Last year, he sold his remaining shares and stepped down from the board, completely leaving the company.