[Dalio: Excessive rate cuts will reduce the attractiveness of currency, individuals should acquire some gold to hedge risks] According to a report by Jinse Finance, Ray Dalio believes that excessive interest rate cuts will further reduce the appeal of debt, leading to fewer people willing to purchase bonds, while also causing currency devaluation. Therefore, from a systemic perspective, it weakens the influence of the currency and worsens the situation for bondholders. Speaking about gold, he suggests viewing gold as the opposite of the U.S. bond market. Currently, nations hold significant debt, and to repay this debt, money needs to be created, but the value of money is depreciating. As a result, individuals need to acquire some gold to hedge against risks. He believes that for an individual's asset portfolio, allocating 10%–15% to gold is an excellent balance and risk hedge.