The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 8 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Dalio: Gold is the only money without counterparty or confiscation risk
“Gold is the only money That you can have and nobody has to give you anything to have it. Other money, all other money is dependent on somebody giving you something. Okay. Whether they give you, and so it's unique in that it's confiscation risk is less than oth…”
Dalio: Earning interest on gold-linked assets reflects credit risk, not ownership
“So what you're getting paid for is credit risk, right? So it's not gold. It's a promise to get your gold back, right? Then that's what money was. And that's why it would have an interest rate. You have an interest rate that on the promise to get your gold back…”
Dalio: Neutral countries prosper economically in wars while winners and losers suffer
“Because if you look at the history of wars and so on, there are winners of the wars, losers of the wars, and neutral countries. The winners of the wars lose, meaning they still get deeper in debt and they have the consequences of the wars. The losers of the wa…”
Dalio: The winner of the US-China tech war will dominate globally
“I think the technology war is the most important war that almost whoever wins the technology war will win almost everything.”
Dalio: Systematizing decision criteria and backtesting removes emotion from investing
“The way I learned to invest, ah, was to write down my criteria when I was making a decision. Every time I'd make a decision, I would then think, why am I making that decision? And then I write down the criteria and see how it would have worked in the past.”
Dalio: Wealth taxes force asset liquidation and can pop market bubbles
“And if you tax wealth, then people have to sell in order to get the money to pay the taxes. And that creates a dynamic that can pop a bubble.”
Dalio: Beyond basic subsistence, wealth has zero correlation with happiness
“You look at studies of history and you find in studies of history what brings about happiness and health past a certain amount of money. Of basic subsistence life. There's no correlation between the amount of money you have and the amount of healthy happiness …”
Dalio: Real estate is uniquely practical to tax because it cannot move
“The practical aspect of real estate in terms of taxing Is because the individual owner of real estate can't take it with them. It is a very practical asset asset to tax for the government because they can always tax that and you can't take it with you versus t…”