Tariffs are part of a historical pattern of order transition used by countries experiencing debt crises and internal conflict: write down debt, extract tariff revenue, build up domestic industry, adopt nationalist and protectionist policies, and increase militarization—as seen in 1930s Germany and repeatedly throughout history.

causalpending

Speaker

Ray Dalio

Evidence Quote

if you looked at um European countries in the 30s uh like Germany in the 30s... write down the debts um create tariff tariff Revenue... and then build up your domestic be nationalistic be protectionis be militaristic that is the way these things operate

Source

Ray Dalio and Salesforce’s Benioff on AI, trade wars and new world orderCNBC International Live
Created: 8/11/2026, 6:48:37 AM

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