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Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has forecast the demise of the US currency. Furthermore, he stated that the Russian-Ukraine conflict has given rise to cryptocurrency as a 'safer haven asset than government fake fiat money.'
Robert Kiyosaki on War and Bitcoin
Robert Kiyosaki, the author of Rich Dad Poor Dad, discussed bitcoin, the Russian-Ukraine war, and the future of the US dollar in a series of tweets on Tuesday.
Kiyosaki and Sharon Lechter co-wrote Rich Dad Poor Dad in 1997. For nearly six years, it has been on the New York Times Best Seller List. More than 32 million copies of the book have been sold in 51 languages and 109 countries.
He wrote, citing the fact that many Russians are adopting bitcoin as a lifeline after the fall of the Russian ruble: “Ukraine/Russian war giving rise to crypto as a safer haven than government fake fiat money.”
Kiyosaki also tweeted Monday that the Biden administration and the Federal Reserve “want inflation to pay off trillions in debt,” advising:
[The] best investment may be stocking products you will always use such as toilette paper, trash bags, canned goods, frozen foods, gold, silver, bitcoin.
In another tweet, he went into greater detail about investing in oil. "I do not own stock in oil firms like Mobile or Exxon. I make direct investments in oil wells. Higher risk for greater reward. Fantastic tax breaks. Two new wells were drilled last week, as oil prices rose from $70 to $130. "The affluent get richer, while the poor get poorer," the famous novelist wrote.
Kiyosaki warned last week that "we are in the biggest bubble in global history" and that the US government will take all cryptocurrencies. He expected that the government would regulate the cryptocurrency business before launching a "Fed crypto." Finally, Kiyosaki stated that all cryptocurrencies will be confiscated and merged into the government cryptocurrency.
On social media, his forecasts were heavily ridiculed, with numerous individuals informing him that not all cryptocurrencies can be taken. Decentralized cryptos, such as bitcoin, cannot be seized within the network, and the government will have a difficult time pursuing self-custodied cryptocurrencies.
Kiyosaki Discusses the End of US Dollar
Kiyosaki also talked on the demise of the US dollar on Tuesday. He stated that the United States' hegemony is fading and that the United States is becoming less of an international force.
As evidence, the author of Rich Dad Poor Dad mentioned that Saudi Arabia is considering accepting Chinese yuan instead of US dollars for Chinese oil sales.
Several people have publicly spoken about the U.S. dollar losing its dominance since the war between Russia and Ukraine began, including veteran investor Jim Rogers who co-founded the Quantum Fund with billionaire investor George Soros. “What is happening with the U.S. dollar now is the end of the U.S. dollar because an international currency is supposed to be neutral but in Washington, they are now changing the rules,” Rogers explained.
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