“Rich Dad Poor Dad” Author Likes Bitcoin, Predicts Fiat Crisis
According to News.com.au, Robert Kiyosaki, the author of the famous best-seller ‘Rich Dad, Poor Dad,’ is warning the public that the next economic crash to come will be catastrophic and damaging to the economy. People may, therefore, turn to cryptocurrencies, as quantitative easing grows and the dollar inflates into a massive bubble.
Next Economic Crash to Be the Biggest of Them All
While Kiyosaki couldn’t predict exactly when the crash will occur, he knows that the “foreshocks are sounding right now.” Kiyosaki went on to mention to news.com.au that, “Unfortunately we had a big crash in 2000, they called it the dot-com crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all.”
Kiyosaki noted that the US’s quantitative easing and approach to printing money would cause the economy to collapse. He went on to say that his next book will be titled Fake because of the sheer fake amount of money in circulation. The best-selling author then stated that the government’s money quickly became “fake money” when Nixon removed the dollar from the gold standard in 1971.
When the dollar was no longer pegged, Kiyosaki strongly affirmed that the Government could then print as much as they wanted, hurting and damaging those who saved in the economy. He recommended others to purchase gold or silver as great investments as gold and silver will always exist and retain value.
The Future Will Consist of CryptoCurrencies
Interestingly, Kiyosaki mentioned in a Sane Crypto Podcast episode that he believes that the future will consist of cyber currencies. These cyber-currencies are like cryptocurrencies. He went on to state that it’s a “wonderful concept.”
While there are different types of money like gold and silver and the government’s money, Kiyosaki noted that cyber currency is the people’s money and will contribute to the demise and fall of fiat currencies.
“I think we’re watching the end of the dollar,” said Kiyosaki. “That’s what I’m saying.”