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‘Cash is trash’, warns hedge fund billionaire as printing presses roll

“Having the world’s printing press to produce the world’s currency is the equivalent of having the world’s most important asset, especially in times when so many people need the world’s money,” he wrote before noting that what people ultimately value is health, education and being able to take care of family. “I think a lot about what money is worth, and believe that it has no intrinsic value.”

I think a lot about what money is worth, and believe that it has no intrinsic value.

Ray Dalio

When asked about the response to the global crisis, the billionaire founder of Bridgewater Associates said he’s been surprised and inspired by healthcare workers, teachers and small merchants.

“I am most impressed by folks who are on the front lines and in often cases suffering financially but are unwaveringly doing the right things to help others,” he said.

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