Robert Kiyosaki Warns of Financial Meltdown
Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has warned that the weakening U.S. dollar is eroding the United States’ dominance in the global economy.
According to Kiyosaki, the dollar, which he termed “fake”, is contributing to the end of the American empire, citing aspects such as excessive printing, he said during an interview with Kitco News published on February 22.
“This dollar became the reserve currency of the world. In other words, the dollar was as good as gold, that’s all changed, and today, we’re in serious trouble globally, and I’m very concerned the end of the American Empire is here,” he said.
He stated that the dollar had lost its comparison to precious metals because they cannot be printed, are scarce, and are universally recognized for their value.
On top of this, Kiyosaki believes that assets like Bitcoin (BTC) offer long-term sustainability.
According to the best-selling author, he accumulated Bitcoin when the maiden cryptocurrency dropped to about $6,000.
“I bought 60 Bitcoin at $6,000. <…> The more I’m in it, the more I realized that’s sustainability. So the reason people buy Bitcoin is the same reason I buy this (gold and silver),” he added.
In the meantime, the financial educator has predicted a possible crash in Bitcoin but remains bullish that the asset is likely to recover. Similarly, he maintains a drop in Bitcoin value offers him an opportunity to accumulate more.
He had also termed Bitcoin as one of the three “hottest subjects on earth” alongside silver and gold, referring to the asset as “people’s money”.
In recent weeks, Kiyosaki has increasingly warned about an impending economic collapse. For instance, the author cautioned that “starvation is coming”, urging preparations for the possible financial crash.
The has mainly advocated for accumulating precious metals such as gold alongside Bitcoin because the assets are in line to recover from any economic collapse.