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Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail
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All the comments and stories posted to Hacker News that reference this book.> and have been telling each other that the dollar is going to collapse any year now every since.The point of pegging a currency to something tangible, like gold, is to increase confidence in the currency. When the currency is pegged, it's much harder to just print money whenever the government wants to. Thus, pegged currencies are safe to do business in because they just won't evaporate overnight.
Remember: Currencies come and go, so the dollars, Euro, Yen, ect, will eventually be replaced by something else. Given the US Dollar's status as a reserve currency, it probably won't just "collapse any year now".
I'm currently reading "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail", https://www.amazon.com/Changing-World-Order-Nations-Succeed/... The author, Ray Dalio, carefully explains the signs of when a currency is going to fail.
Highly recommend Ray Dalio's new book: Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail [1]. If you want interview style he was on the Lex Fridman Podcast #251 too [2].Takes a look at historical ups and downs and gives hard data without too much colour being added.
[1] https://www.amazon.com/Changing-World-Order-Nations-Succeed/...
⬐ eande+1 That Book was eye opening and learned a lot in the big picture, which is sometimes hard to see.
The book "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail" by Ray Dalio compares the rise (and decline) of the American "world empire" to prior world empires. The two most recent are the U.K. and the Netherlands.The same things that are happening now have happened before -- just not in our lifetimes. The history and his analysis is quite instructive.
The book was refreshing in its objectivity, lack of political bias, and clarity of writing. I've given copies to several friends.
It's pretty clear from his analysis and the data that the U.S. is in a decline of global influence.
https://www.amazon.com/Changing-World-Order-Nations-Succeed/...
⬐ SuoDuanDaoRay Dalio is an international treasure. When I watch the Davos videos he often seems like the only one who's not in a quiet state of panic.⬐ tablespoon> The book "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail" by Ray Dalio compares the rise (and decline) of the American "world empire" to prior world empires.Why should I put much stock in historical analysis done by a "American billionaire investor and hedge fund manager" [1]? My gut feel that someone like that probably has so much other stuff on his plate that the analysis would be in many ways superficial, and such a person likely has enough status that large numbers of people would indulge his pretensions at being a polymath even if it's not actually true.
⬐ todorusAd hominem⬐ tablespoon> Ad hominemNo, I didn't say he was wrong because of who he was. I have suspicions that he might be over-hyped, and I was asking questions about that.
And if that's wrong, I have literally a million self-published books that you really ought to carefully consider, lest you be guilty of "Ad hominem."