All-In with Chamath, Jason, Sacks & Friedberg
Ray Dalio | The All-In Interview
Ray Dalio
And interest rates in the United States, as you know, were very low relative to inflation for most of that time. Plus, you had a depreciation in the currency. So you lost a ton of money in the debt that way because the central bank came in and printed the money. It's very bad for holders of the debt. And it's a basic thing. You don't have to even get too technical.
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