Billionaire investor Ray Dalio said that the U.S.-China conflict could turn into a ‘capital war’ that would negatively impact the dollar. This according to a recent article in Bloomberg.

In an interview with Fox last month, the founder of Bridgewater Associates reportedly warned that “loose fiscal policy and ideological divisions” are pushing the U.S. into decline, adding “There’s a trade war, there’s a technology war, there is a geopolitical war and there could be a capital war.” He cited the example of withholding the payment of bonds that the U.S. owes payments on in China as having potentially “big implications, such as for the value of the dollar.” According to Dalio, the U.S. has endangered the dollar’s stability by becoming its own “worst enemy” —the article notes that the dollar has “fallen against all major currencies tracked by Bloomberg in the past three months.”

“The things I worry about the most are the soundness of our money,” Dalio said, adding, “You can’t continue to run deficits, sell debt or print money rather than be productive and sustain that over a period of time.” He added, “If we don’t work together to do the sound things, to be productive, to earn more than we spend, to build the balance sheet, we are going to decline.”