For several days, the author of “Rich Dad, Poor Dad” has released financial recommendations to the world. He thinks that cryptocurrencies will replace the US dollar. Robert Kiyosaki is the well-known author of “Rich Dad, Poor Dad”, released in 1997, the best seller that sold more than 32 million copies.
Kiyosaki thinks that the dollar is dying while the economy is under the threat of the coronavirus pandemic, and instead of seeing your dollars losing value, he recommends investing in gold, silver and bitcoin. This is what he said to his 1.3 million followers on Twitter yesterday, 4 April.
DEATH OF DOLLAR. People desperate for money. Very sad. If government gives you free money take it yet spend it wisely. DO NOT SAVE. Buy gold, silver, Bitcoin. Dollar is dying. Silver $20. Best Buy for future security. Everyone can afford $20, especially with free fake money.
— therealkiyosaki (@theRealKiyosaki) April 4, 2020
A few days ago Kiyosaki said in another tweet that how our monetary system pointing that the US dollar became debt in 1971 and since then it contributed to making the poor poorer and the rich richer,
Lesson 5. DEBT. 1971 Dollar became DEBT. Debt makes RICH richer. Debt makes POOR & MC poorer. IF US Debt to GDP ratio 60% world sound. Today US Debt to GDP 110% and climbing. US bankrupt. Debt, dollar, greed destroying lives & world economy VERY SAD. Save gold, silver & Bitcoin.
— therealkiyosaki (@theRealKiyosaki) April 2, 2020
Earlier on April Kiyosaki posted another tweet about the measures the US government is taking to save the economy due to the threat from the coronavirus pandemic. In this tweet, he points to the fact that it is pointless to save Fiat money when the FED can print trillions of dollars.
Lesson 5. SAVE MONEY: RU NUTS? Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god’s money or Bitcoin-people’s money.
— therealkiyosaki (@theRealKiyosaki) April 1, 2020
Two years ago during a podcast, he expressed his opinion about “people’s money” as he likes to call cryptocurrencies, pointing to his firmly held opinion that cryptocurrencies, gold and silver will replace fiat currencies. This is what he said in the podcast:
I think the dollar is toast because Gold and Silver and cyber currency are going to take it out … The US dollar is a scam. […] I think we’re watching the end of the dollar. That’s what I’m saying.
Kiyosaki’s opinion is based on the collapse of the monetary system based on Fiat currencies backed from nothing and with the ability to create infinite money from thin air. Here you can read the full Rich Dad Poor Dad summary.
Do you think that bitcoin or cryptocurrencies will replace the US dollar? Feel free to post your opinion in the comments below.
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