Amid warnings of a looming financial crash, primarily in the United States, prominent investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki has focused on the economic factors that could contribute to or even directly lead to these bleak premonitions coming true.
As it happens, Kiyosaki has long warned about the upcoming disaster he believes will result from various influences, but three alarming factors particularly stand out – hyperinflation, central bank digital currency (CBDC), and the US government’s behavior.
#1 Hyperinflation
Indeed, the finance educator has recently pointed out that hyperinflation was not what many people think it is – prices going up. In his view, it actually “means the opposite” and refers to the decline of the purchasing power of money, as Finbold reported on October 2.
Hence, to protect themselves from the negative effects of this hyperinflation, Kiyosaki has advised his followers to stock up on assets like the flagship decentralized finance (DeFi) asset Bitcoin (BTC), as well as precious metals like gold and silver “and be a winner, not a loser.”
#2 True risks of CBDC
Furthermore, the influential investor and finance analyst has also expressed concerns over the implications of the US Federal Reserve’s ‘FedNow’ instant payment infrastructure that many believe is actually paving the ground for the introduction of a nationwide CBDC.
Specifically, Kiyosaki has argued that a Fed CBDC would result in the loss of privacy but also lead to the increase in value of gold, silver, Bitcoin, and cash, which he believes will become “priceless,” and suggests investing in these assets and saving them “now before it’s too late.”
#3 US government lying
Finally, the ‘Rich Dad Poor Dad’ author has criticized the recent report by the US Federal Government’s Bureau of Labor Statistics that shows US employment growing by the most in eight months in September, accusing the US government of misrepresenting the facts.
According to Kiyosaki, the report on job growth was a lie and actually referred to people working two jobs or part-time workers, and this hurts small businesses while big businesses get richer, calling this situation “Marxism, Socialism, Fascism” instead of capitalism, which at its core is supposed to support local small businesses.
All things considered, Kiyosaki clearly does not trust the US government and financial authorities, the actions of which he has criticized as having attributed to the growing inflation but also to the declining role of the US dollar as the global reserve currency, which he believes could lead to the destruction of the American Empire.
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