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

Hedge fund company Bridgewater Associates founder Ray Dalio said that there is a sustained trend of de-dollarization 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% increase in a precious metal," "Gold is being bought in large quantities by central banks around the world, especially other investors, in order to diversify away from fiat currencies, not just from the US dollar." Speaking about global tensions, he said that while people are concerned about trade wars, they pay less attention to what he calls the "capital war" and its impact on market operations. Regarding US President Trump's comments about seeking to buy Greenland, excluding the use of force, Dalio believes that this statement is "very important because it draws a bottom line, a red line." He added, "If there is military action, there will be consequences at the capital war level." With tensions escalating across the Atlantic and Trump's increased threat of taking over Greenland potentially causing divisions in NATO, the topic of reducing US assets is becoming increasingly heated. Danish pension fund AkademikerPension stated that due to the credit risk being too significant to ignore, they plan to exit the US bond market by the end of the month. However, UBS Group CEO Sergio Ermotti warned that weaponizing the US government debt they hold is a "dangerous gamble." 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.