U.Today – Robert Kiyosaki is known as an investor and author of the popular asset management book “Rich Dad Poor Dad”. Today he reached out to his millions of X followers to discuss an critical issue.
Exposing the ‘bogus’ US dollar
Kiyosaki once again brought the community’s attention to the fact that the US dollar is no longer what it once was. In 1971, as he wrote on Twitter, US President Richard Nixon removed the dollar’s gold support, and since then “the US dollar has been supported by US treasuries and bonds,” Kiyosaki said. Then, in his opinion, the US dollar became “fake.”
He then referred readers to his aforementioned book, “Rich Dad Poor Dad” and some critical statements about the US dollar and other assets that have historically supported the US economy.
In this advice, Kiyosaki stated that truly wealthy people do not save “fake US dollars” and that “your house is not an asset.” The third piece of advice, mirroring the first, was basically: “Savers are losers.” Since the dollar is not backed by gold and has been significantly devalued in recent decades, saving dollars makes no sense, and a house is not an asset because real estate can easily collapse (as happened during the 2008 crisis when mortgage bonds “collapsed” market); Moreover, when taking out a mortgage loan, we incur long-term debt to the bank.
Kiyosaki believes that financial education is very critical because it helps you navigate the sea of finance and face the many difficulties and crises that often arise in this easily changing sphere.
“I’ll buy anything I can”
Over the weekend, Kiyosaki also tweeted about the 2008 financial crisis, saying that it was then that “Criminals at the Fed and Treasury” began printing trillions of dollars with no backing in an attempt to stop the coming recession. Perhaps a repeat of the Great Depression was avoided, he admits.
Kiyosaki believes that the most stable assets are gold, silver and Bitcoin. But he admits that even they can crash. However, he wrote on Twitter that he would continue to buy BTC cheaply: “Of course I will be buying all the Bitcoin I can, as well as other assets at bargain basement prices.”
