Ray Dalio called the reasons for the refusal of the dollar

Fewer countries want to use the dollar in international trade and as a means of savings, the founder of the largest hedge fund, billionaire Ray Dalio, said in an interview with an American financial blogger on YouTube (Business Insider quotes him). According to Dalio, the trend is associated with the growing popularity of the yuan and the risks that anti-Russian sanctions have revealed.

“Dollars are debts. In other words, if someone, for example, the central bank, holds dollars, it means that he holds a debt asset,” the investor said. According to him, in the current environment, the use of the American national currency by countries means for them excessive exposure to the risks posed by the ultra-high US public debt.