Earlier this year, Ray Dalio quipped that “cash is trash.” During a recent Reddit “ask me anything” session, Dalio doubled down, warning that the rush into the US dollar is a mistake.
Because the Federal Reserve has fired up the printing press and is pumping out cash at a dizzying pace.
What would you do if the bank suddenly froze your account and you couldn’t access any of your money?
Perhaps this sounds a little farfetched, but it certainly isn’t unprecedented. In fact, Chinese customers of some Spanish banks recently faced this exact scenario.