The author of best selling international book "Rich Dad , Poor Dad" Robert Kyoski has expressed the hope that the cryptocurrencies will replace the fiat currency in near future which he terms as fake currency.He termed as fake currency as this currency is not backed by asset.He said"I’ve always been a gold bug. My latest book coming out is called Fake. There’s so much fake money. In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money".
According to him,increasing the supply of money in market by constant printing leads to inflation and subsequently it result to market crash ,the world has ever witnessed.He says: “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,”
He refers cryptocurrencies as People's money,he said there are three are three kinds of currency in this planet,1. God's Money i.e. Gold, 2. Government Money i.e.Fiat and 3. People's Money i.e. Cryptocurrencies.
He believes that these all three types of currencies will replace the fiat currencies as more and more people getting involved in improving financial IQ.He say“I think the dollar is toast because Gold and Silver and cyber currency are going to take it out … The US dollar is a scam. […] I think we’re watching the end of the dollar. That’s what I’m saying.”
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