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R. Kiyosaki warns US dollar to crash as ‘BRICS gold crypto’ emerges
Ana Zirojevic May 13, 2024
Amid warnings of a major financial crash, famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has shared his views on why the United States dollar, in particular, might suffer as a new currency threatens its global domination.
Specifically, Kiyosaki was visiting South Africa, “watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold,” as he told his followers in an X post published on May 12.
Hyperinflation on horizon
Indeed, according to the renowned finance educator, if the rumors are true, this would mean a loss of value to the US dollar and a hyperinflation in the US, and he recommended investing money in alternative assets instead, including gold, silver, and Bitcoin (BTC) to protect oneself against this crash:
“If BRICS gold crypto happens, trillions in fake money, fiat US dollars will come rushing back to home to America causing hyperinflation in America, ultimately destroying US dollar. Best buy real gold, silver, and Bitcoin now, and protect yourself from the crash of US dollar.”
As a reminder, Kiyosaki has lately intensified his doomsday warnings, stressing the crash has already started, signaling the end of the US dollar, and that the dire situation is only worsening “because our debt keeps going up,” with the dollar’s demise the primary reason to accumulate the above assets.
More recently, he said that most people were living in “Disneyland” instead of preparing for the crisis using a strategy he considers the best – starting their own business, using debt as money to buy cash-flowing assets like rental properties, and saving gold, silver, and the maiden cryptocurrency.
Robert Kiyosaki and Bitcoin
Interestingly, the ‘Rich Dad Poor Dad’ author has also admitted to being a latecomer to the crypto industry and not knowing much about the flagship decentralized finance (DeFi) asset, but he has been a fan nonetheless, including Bitcoin in most of his recommendations.
On top of that, he has agreed with the founder and CEO of ARK Invest, Cathie Wood, and her extremely bullish prediction that Bitcoin price in USD could hit $2.3 million. For now, Bitcoin is trading at $61,639, gaining 1.55% on the day, but declining 4.57% in the past week, and losing 8.58% on its monthly chart.
Source: Finbold
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 Article: "Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and what are its risks?" Floating the dinar, oh my goodness, they are talking to the Iraqi citizens about the monetary reform...Floating the dinar is what they're going to do...
Mnt Goat ...the US Treasury needs to recognize that Iraq still has tremendous value in the dinar as the country sits right now with its oil revenues and out paces Kuwait in all aspects of its economy and so why is Kuwait 1 KWD = $3.40 USD? ...the IQD is being intentionally suppressed now after 20 years already and that is at the heart of the problem Iraq now faces. In reality they are more than ready and the Dr Shabibi attempt in 2012 tells it all...
Deflation As Economy Comes To A Halt | Michael Pento
Liberty and Finance: 5-13-2024
Disinflation is coming, says portfolio manager Michael Pento and even a short period of deflation is likely.
Amid the economy coming to a halt, the Fed will have no other option than to inflate the currency supply.
At that point, stagflation will become the new normal, he says. And stagflation - high inflation with a weak economy - has proven to be the ideal environment for gold.
INTERVIEW TIMELINE:
0:00 Intro
1:20 Japan's economy
10:00 Dedollarization
18:21 What's the Fed's real goal?