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Kiyosaki tweeted on Monday that the Biden government and the Federal Reserve plan for inflation to trade-off trillions in debt.
Rich Dad Poor Dad writer Robert Kiyosaki has again grabbed readers’ eyeballs with his predictions and theories regarding the US dollar and cryptocurrency. The popular writer of the international best-selling book has forecasted the demise of the United States dollar. Additionally, he claimed that the Russian-Ukraine war will result in an expansion of crypto as a secure refuge for people than the administration’s counterfeit fiat money.
Robert Kiyosaki, the American businessman and author, talked about Bitcoin in his recent tweets on his social media handle. Explaining how several Russians are banking on Bitcoin following the crash of the Russian Ruble, Kiyosaki claimed that the war would result in the downfall of the US dollar.
Rich Dad Poor Dad, which was written by Kiyosaki and Sharon Letcher in 1997, sustained its position on the New York Times Best Seller List for more than 6 years. Approximately 32 Million manuscripts of the novel have been sold in more than fifty languages in more than a hundred and nine nations.
Kiyosaki tweeted on Monday that the Biden government and the Federal Reserve plan for inflation to trade-off trillions in debt. Adding on to his statement, Robert Kiyosaki suggested that the most appropriate investment strategy at the moment would be to indulge in staples like toilet paper, trash bags, frozen foods, gold, silver, and Bitcoin.
Another note on oil by Kiyosaki explained how he never invests in oil firms or organizations but in the reserves themselves. According to him, investment in companies like Exxon results in lower risks with lower returns.
In the past week, Kiyosaki cautioned his readers by asserting that the world is thriving in a huge bubble of ignorance. Additionally, he claimed that the government of the United States is all set to take a hold of all crypto assets and monitor the whole space on its own through a “Fed crypto”. This comment of his due massive flak as readers pointed out that most of the cryptocurrencies work on decentralized networks that cannot be centralized or acquired that easily. Bitcoin, which is also decentralized crypto, cannot be acquired with the network, and the procedure of taking the assets in as self-custodied cryptocurrencies will be immensely tedious and tough.
On the topic of the US dollar, Kiyosaki suggested that the dominance of the financial system of the United States will deplete and that eventually, the country will lose its credibility over the world. As an example for this conjecture, Kiyosaki said that the owners of oil companies in Saudi Arabia are contemplating the idea of acknowledging the Chinese Yuan for Chinese Oil Sales rather than the United States Dollar.
While the predictions by Kiyosaki might seem a bit exaggerated, there have been instances of many people speaking openly about the USD losing its value after the Russia-Ukraine conflict. Veteran investor Jim Rogers, who is also the co-founder of the Quantum Fund, said recently while a global currency is considered to remain impartial in any conflict, there are modifications being made in the regulatory mandates.