U.S. national debt has reached $35 trillion, with annual interest payments exceeding $1 trillion.
Robert Kiyosaki warns of an impending financial collapse and advocates for gold, silver, and Bitcoin as safe alternatives to the U.S. dollar.
Kiyosaki suggests that a hidden banking crisis poses a greater risk than traditional market crashes.
The U.S. national debt has reached an alarming $35 trillion, prompting serious concerns about the countryâs financial future. Robert Kiyosaki, a well-known author and billionaire investor, recently issued a warning, emphasizing that neither Kamala Harris nor Donald Trump can adequately handle the growing debt crisis.Â
Kiyosaki, the well-known author of Rich Dad Poor Dad, suggests that alternative assets like gold, silver, and Bitcoin could be used as a countermeasure against the depreciating US dollar.
https://twitter.com/theRealKiyosaki/status/1834386468296687820 The Growing U.S. Debt and Economic Instability
Notably, given the sharp increase in the country's debt, Kiyosaki believes that the United States is about to experience an economic collapse. Every 100 days, the debt grows by $1 trillion, which is unsustainable.Â
Additionally, Kiyosaki notes that the debt's yearly interest payments have already surpassed $1 trillion, which has a negative impact on the economy. He believes that a serious crisis is about to hit the American economy. He contends that using the US dollar, which he refers to as "fake money," is no longer practical.
Furthermore, Kiyosaki's worries coincide with an increase in economic volatility worldwide. Uncertainty has increased as a result of high interest rates and inflationary pressures.Â
Hence, Kiyosaki has suggested that people invest in tangible assets like gold, silver, and Bitcoin to protect their wealth. He contends that these assets will continue to be valuable even as the US dollar depreciates.
Potential for a Banking Crisis
Additionally, Kiyosaki issued a warning about an approaching banking crisis, describing it as more dangerous than conventional market crashes and as "hidden." Banking collapses, in contrast to market crashes, usually happen quietly, giving people little time to respond. They therefore pose a serious risk to the financial system.
According to Kiyosaki, the collapse of large banks could exacerbate the already-existing economic instability brought on by growing debt. Kiyosaki is steadfast in his conviction that alternative assets like Bitcoin could act as a hedge against economic volatility even in the face of the U.S. facing these economic difficulties.Â
Besides, he sees cryptocurrencies as a "hard asset" that can offer protection in unpredictable times. Additionally, because Bitcoin is decentralized, it is less vulnerable to traditional banking risks, a factor that Kiyosaki predicts will become increasingly significant in the future.
Debate Around Bitcoinâs Role in Debt Management
Notably, the notion of leveraging Bitcoin to manage the U.S. national debt is becoming more popular, as prominent individuals like Senator Cynthia Lummis and Donald Trump have suggested tactics involving the digital currency.Â
According to Trump's recent remarks, the U.S. government could purchase a sizable reserve of Bitcoin, which would help counteract the nation's mounting debt. In order to pay off the debt, this plan calls for holding Bitcoin for 20 years and selling it at a higher price.
Additionally endorsing Bitcoin, Senator Lummis has called for the creation of a strategic Bitcoin reserve in the United States. According to her, this reserve might support the US dollar and stabilize it internationally. On the viability of these tactics, economists are still split; some doubt Bitcoin's stability and ability to function as a reserve currency.
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