Dalio: Debt crisis approaching, recommends selling bonds and buying gold

The founder of Bridgewater Associates, Ray Dalio, stated that investors should reduce their bond holdings and allocate up to 15% of their portfolios to gold to hedge against the risk of a U.S. debt crisis. Dalio estimated that this year, U.S. government revenue is about $5.5 trillion, while expenditures reach $7.5 trillion, leaving a $2 trillion gap. He warned that a U.S. debt crisis could occur "in about three years, with a margin of error of no more than two years." Dalio advocated narrowing the budget deficit through a combination of spending cuts, increased tax revenue, and lower interest rates, and expects that "currencies not issued by governments such as gold and Bitcoin will perform relatively well."