> Dalio Says Sell Bonds, Buy Gold, Shytcoin as Debt Crisis Looms

(Bloomberg) -- Billionaire Ray Dalio said investors should reduce their bond holdings and put as much as 15% of their money in gold to hedge against the risk of a US debt crisis that he warns could be just three years away.

Dalio estimates US government revenue at about $5.5 trillion this year against $7.5 trillion in spending, leaving a $2 trillion shortfall. Interest costs alone will be around $1 trillion this year, while about $10 trillion of debt needs to be refinanced.

Without a change in course, a US debt crisis could arrive "in three years, give or take two," Dalio said. He advocates reducing the budget deficit to 3% of gross domestic product, from the current level of about 6%, through a combination of spending cuts, higher tax revenue and lower interest rates.

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