2024

Richard

Bitcoin

when

<figure> 
 <figcaption>
  Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<p lang="en-GB" xml:lang="en-GB"><a href="https://u.today/rich-dad-poor-dad-author-warns-users-to-buy-bitcoin-for-terrifying-reason">Robert Kiyosaki</a> is famous as an investor and the author of the popular book on asset management, “Rich Dad Poor Dad.” Today, he addressed his millions of X followers to discuss an important issue.</p>
<h2 id="exposing-fake-u-s-dollar">Exposing "fake" U.S. dollar</h2>
<p lang="en-GB" xml:lang="en-GB">Kiyosaki once again drew the attention of the community to the fact that the U.S. dollar is no longer what it used to be. In 1971, he tweeted, U.S. President Richard Nixon deprived the dollar of its gold backing, and since then, “the US dollar was propped up via US Treasuries and bonds,” Kiyosaki stated. After that, he says, the U.S. dollar became “fake.”</p>
<p lang="en-GB" xml:lang="en-GB">Then he referred readers to his aforementioned book, “Rich Dad Poor Dad,” and some of the important statements about the U.S. dollar and other assets that used to hold up the U.S. economy in the past.</p>
<blockquote>
 <p lang="en" dir="ltr">FAKE $ The US dollar became fake in 1971 when President Nixon took the dollar off the gold standard. Since 1971 the US dollar was propped up via US Treasuries and bonds.That is why I stated in Rich Dad Poor Dad 1: “The rich don’t world for (fake) money 2: Your house is not an…</p>— Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1845644032833138886?ref_src=twsrc%5Etfw">October 14, 2024</a>
</blockquote> 
<p>In those pieces of advice, Kiyosaki stated that truly rich people do not save “fake US dollars” and that “your house is not an asset.” The third pieces of advice, which mirrored the first one, was essentially, “Savers are losers.” Since the dollar is not backed by gold and has been greatly devalued over the past decades, it is pointless to save dollars, and a house is not an asset since real estate can easily crash (as happened in the 2008 crisis, when the mortgage bonds’ market collapsed); besides, when receiving a mortgage, one gets in long-term debt with the bank.</p>
<p lang="en-GB" xml:lang="en-GB">Kiyosaki believes that financial education is very important since it helps one to navigate the sea of finance and withstand multiple difficulties and crises that often rise in this easily changeable sphere.</p>
<h2 id="i-will-be-buying-all-the-bitcoin-i-can">"I will be buying all the Bitcoin I can"</h2>
<p lang="en-GB" xml:lang="en-GB">Over the weekend, Kiyosaki also published a tweet about the financial crisis of 2008, saying that, back then, “the criminals at the Fed and Treasury” began to print trillions of dollars not backed by anything as they attempted to stop the upcoming depression. Perhaps a repetition of the Great Depression was avoided, he admits.</p>
<blockquote>
 <p lang="en" dir="ltr">KISS: Keeping It Super Simple: Friends said my previous Tweet was confusing. My apologies. So please read my previous Tweet and this Tweet and maybe I might make more sense…if I….KISS: I Keep it Super Simple.Here goes. In 2008 was the GFC the Great Financial Crisis.The…</p>— Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1845180860951298112?ref_src=twsrc%5Etfw">October 12, 2024</a>
</blockquote> 
<p lang="en-GB" xml:lang="en-GB">Kiyosaki believes that the most stable assets are gold, silver and Bitcoin. Even they can crash, though, he admits. However, he tweeted that he would <a href="https://u.today/rich-dad-poor-dad-author-gives-non-bitcoiners-one-last-counsel">still continue to by BTC</a> cheaply: “Obviously, I will be buying all the Bitcoin I can, as well as other assets, at bargain basement prices.”</p>

'Rich Dad Poor Dad' Author Issues Crucial 'Fake USD' Warning to Investors

Table of Contents

U_Today

Other articles published on Oct 14, 2024

Drex Brazilian CBDC pilot will work on privacy, DeFi in phase 2

New Development for Spot Ethereum ETFs! A World First!

Solana Prepares for 2024 Rally Amid Memecoin Frenzy and Ecosystem Developments

Zilliqa implements monthly halving mechanism for mining rewards

Dogwifhat Price Prediction 2025, 2026 – 2030: Will WIF Price Leap To $5?

VanEck Expands into Venture Capital with $30M Fund for Fintech, Blockchain, and AI

Join our free newsletter for daily crypto updates!