USD is the greatest scam of all time, says Robert Kiyosaki
Image source: pixabay - NikolayFrolochkin
Robert Kiyosaki is the author of the famous self-help book, "Rich Dad, Poor Dad" which has sold more than 32 million copies. The book shares financial tips and has been endorsed by Oprah Winfrey. Kiyosaki has spoken about his opinion on Bitcoin and the US dollar.
Kiyosaki spoke on the Sane Crypto Podcast with Kim Hughes earlier this year to promote his new book, "Fake: Fake Money, Fake Teachers, Fake Assets". Kim Hughes herself has also made very convincing arguments on cryptocurrencies as a store of value.
“In my new book… I talk about the three types of money today: God’s money, which is gold and silver, government’s money which is fiat currency, which is done by government decree which is the dollar… Then there’s the people’s money, which is cybercurrency on the blockchain technology. Gold is a hedge and I am expecting a collapse on the system…[and] which is why you are into cybercurrencies now… bitcoin and ethereum.”
Source: CCN - David Hundeyin
Image source: pixabay - Erik Stein
Being a big fan of Gold, Kiyosaki thinks that paper gold is coming into existence and not just "fake". Fractional reserve systems such as the bank, represents the current finance system. Gold is represented more like a hedge, in case the dollar ends. Fiat currencies, US dollar, Euros etc. is the government's money. He believes that cryptocurrencies are the people's money.
Often, Bitcoin is seen as a scam by the older people. However the US dollar is a well-hidden scam that no one sees it. USD loses value every single day slowly as compared to the cryptocurrency prices drops. The dollar has lost more than 95 percent of the value over the years.
“The US Dollar is a scam…I think the dollar is toast because gold and silver and cybercurrency are going to take it out…The US Dollar is gone…In the year 2000 there was one currency, the US Dollar. It was called the reserve currency of the world…and then came bitcoin or cybercurrency.”
Source: CCN - David Hundeyin
Image source; pixabay - Mediamodifier
His advice to investing in assets other than stocks is quite the unconventional. Kiyosaki thinks that the brainwashing is done by financial advisors telling you, "not to invest in gold… It’s risky. Don’t invest in real estate… It’s risky. Don’t invest in Bitcoin… It’s risky. The reason they tell you that is they don’t get any commissions from gold, real estate and Bitcoin."
In an imminent stock market crash as Kiyosaki anticipates, alternate assets will be a hedge to make him rich. Listening to brokers, people who are selling something, never tells you the entire truth. Instead they tell you what is good about what they sell.
Kiyosaki stands by his investment in Gold and Silver, having little trust in the governments.
We have been told too many times to study and educate ourselves to become rich. However, no one teaches us how to manage our finances, invest, trade. The wrong lessons have been learnt. I wished someone told me how to invest when I was 15 years old. I don't get any commission promoting his new book, but I would probably pick up the book for an additional opinion.