Robert Kiyosaki(pictured below), the author of "Rich Dad, Poor Dad", has a word of warning for everyone. Accordign to him, the US dollar is a major scam, and is due for a reckoning.
Well, we all know about the recent financial crisii that have befell upon us. The famous Stock Market and Junk Bond crash in 1987 and 1989, the famous Dotcom Bubble of 2000, subprime mortgage crisis in 2008, also called the Global Financial Crisis.
Pictured above is Robert Kiyosaki, the author of "Rich Dad, Poor Dad". Image courtesy of Gage Skidmore via wikipedia.org
According to Kiyosaki, the signs of the next approaching financial crisis are already in the air - and when it happens, it's ripples will touch everything as it will be the biggest one yet.
As long as I have been actively trading (6+ years), the next financial crash has been predicted by multiple people, to be right around the corner. Yet the FED (Federal Reserve System ie the United States Central Bank) has been much more crafty dealing with the economy and postponing the eventual crisis. Everyone knows that the economy cannot keep growing - it's impossible. The economy works in cycles and eventually a tear in some insignificant place will stretch all over the globe and paves the way to recession.
But lets leave the stats and historical crashes behind and go back to Kiyosaki and his opinion. According to Kiyosaki, the US dollar har been fake and a scam since 1971, when Nixon unhinged it with removing the gold standard, opening the way for the government to print as much money as needed.
This endless printing means you cannot count on saving your hard-earned dollars, the inflation will just eventualy kill it. Kiyoskai went on to praise cryptocurrencies, to which he referred as "the people's money" and precious metals, which he called "god's money", via bitcoin.com:
“government money […] which is fiat currency,” “God’s money, which is gold and silver, [which] will be here after the cockroaches go extinct,” and people’s money, which is [virtual] currency.”
I can't agree more with him, as I believe the same, precious metals and cryptos are here to stay. And fiat money too - aint no way around it. And during an economic collapse, even cryptos might or might not lose much of their value, but that would be the time, when some of them would prove their value to us.
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