Robert Kiyosaki, author of the best-selling finance book “Rich Dad, Poor Dad,” has expressed his concerns about the US dollar, and optimism about cryptocurrencies.
“Rich Dad, Poor Dad” sold 32 million copies worldwide and advocates financial literacy for everyone.
Kiyosaki recently spoke to an Australian news agency about the fact that nothing backs up the US dollar, which hasn’t been backed by gold since it was taken off the gold standard in 1971 by President Richard Nixon.
He calls the dollar “fake money.” 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.”
Kiyosaki says he can’t predict when it will happen, but he predicts that the next big crash is coming – and that it will be bigger than any previous crash. “Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all,” Mr Kiyosaki told News.com.au recently.
Kiyosaki says that the constant printing of money (not backed by gold) is inflating a bubble that will soon burst.
He takes a definitive stance on the dollar coming to an end. In a podcast podcast in April, Kiyosaki shared his views on cryptocurrencies.
He calls gold and silver “God’s money” and the dollar, Yen and the Euro “the government’s money.” As far as cryptocurrencies (in his words, “cyber currencies”), Kiyosaki calls them the “people’s money.” – and that God’s money and the people’s money will eventually win out. He believes that cryptocurrencies, gold, and silver, will eventually replace existing fiat currencies.
He said, “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.”