'Rich Dad Poor Dad' Author Issues Important Warning About 'Fake USD' to Investors
Robert Kiyosaki is a famous investor and author of the famous book on wealth management “Rich Dad, Poor Dad”. Today, he gave a speech to his millions of followers to discuss an important issue.
Exposing the "fake" US dollar
Kiyosaki once again drew public attention to the fact that the US dollar was no longer what it used to be. In 1971, he tweeted, US President Richard Nixon had stripped the dollar of its gold backing, and since then, “the US dollar has been backed by US Treasuries and bonds,” Kiyosaki declared. Later, he said, the US dollar had become “fake.”
He then introduces readers to his aforementioned book, “Rich Dad, Poor Dad,” and some important statements about the US dollar and other assets that have supported the US economy in the past.
FAKE $ The US dollar became a fake dollar in 1971 when President Nixon took the dollar off the gold standard. Since 1971, the US dollar has been backed by US Treasuries and bonds. That is why I stated in Rich Dad Poor Dad 1: “The rich don’t live in the world for (fake) money 2: Your house is not…
— Robert Kiyosaki (@theRealKiyosaki) October 14, 2024
In those tips, Kiyosaki states that truly wealthy people do not save “fake US dollars” and that “your house is not an asset”. The third tip, which mirrors the first, is essentially “Savers are losers”. Since the dollar is not backed by gold and has been greatly devalued over the past decades, saving dollars is pointless, and a house is not an asset because real estate can easily collapse (as happened in the 2008 crisis, when the mortgage bond market collapsed); besides, when you take out a mortgage, you are in long-term debt with the bank.
Kiyosaki believes that financial education is important because it helps people navigate the financial sea and overcome the many difficulties and crises that often occur in this volatile field.
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"I will buy all the Bitcoin I can"
Over the weekend, Kiyosaki also tweeted about the 2008 financial crisis, saying that at the time, “criminals at the Fed and Treasury” began printing trillions of dollars backed by nothing as they tried to stave off the coming recession. Perhaps a repeat of the Great Depression was avoided, he conceded.
KISS: Keeping things super simple: Friends said my previous Tweet was confusing. I apologize. So read my previous Tweet and this Tweet and maybe I can understand better… if I…. KISS: I keep things super simple. Here it is. 2008 was the GFC, the great financial crisis. The…
— Robert Kiyosaki (@theRealKiyosaki) October 12, 2024
Kiyosaki believes that the most stable assets are gold, silver, and Bitcoin. However, even they can crash, he admitted. However, he tweeted that he will continue to buy BTC at a discount: "Obviously I will buy all the Bitcoin I can, as well as other assets, at bargain prices."#BTC☀ #Write2Win #IntroToCopytrading
