‘Rich Dad Poor Dad’ Author Warns Investors About the ‘Fake USD’ Crisis
Renowned investor and author of “Rich Dad Poor Dad,” Robert Kiyosaki, recently issued a crucial warning to investors regarding the state of the US dollar. Kiyosaki emphasized that the dollar is no longer what it used to be, as it lost its gold backing in 1971 when President Richard Nixon made the decision to remove it. Since then, the US dollar has been propped up solely through US Treasuries and bonds, making it essentially a “fake” currency, according to Kiyosaki.
In his book, Kiyosaki stresses the importance of not saving in a currency that has lost its value and highlights that real estate is not a reliable asset. He argues that saving dollars is futile due to the devaluation of the currency over the years, while also pointing out that the housing market can easily crash, as observed during the 2008 crisis.
Kiyosaki believes that financial education is crucial in navigating the ever-changing world of finance and successfully weathering economic challenges and crises. In light of the 2008 financial crisis, he expressed his belief that the Federal Reserve and the Treasury printed trillions of dollars to prevent a repeat of the Great Depression, although these actions were not backed by any tangible assets.
In terms of stable investments, Kiyosaki suggests considering assets such as gold, silver, and Bitcoin. He acknowledges that even these assets are not immune to crashes but mentions his intention to continue buying Bitcoin at discounted prices, along with other undervalued assets.
Overall, Kiyosaki’s warning serves as a reminder for investors to be aware of the potential risks associated with the US dollar and traditional assets, while also considering alternative investment options.