Ripple CTO’s Hilarious Take on Kiyosaki’s Gold Panic: You Won’t Believe This!

by

In the grand theater of financial musings, David Schwartz, the Chief Technology Officer of Ripple, found himself drawn into the swirling maelstrom of commentary beneath a recent tweet from none other than Robert Kiyosaki, the sage of “Rich Dad Poor Dad.” It was a digital stage where ideas danced like fireflies on a summer night, and Schwartz, with a twinkle in his eye, stepped forth.

Kiyosaki, in his latest missive, conjured a rather fanciful scenario: what if the gold that glimmers in Fort Knox had vanished into thin air? The very thought sent shivers down the spine of the dollar, he claimed, as if it were a child caught in a thunderstorm without an umbrella. “The US economy would collapse! The dollar would crash! The world would be in chaos!” he proclaimed, as if he were a prophet foretelling doom from a mountaintop.

Fort Knox, Bitcoin, silver, and dollar: Kiyosaki

“Bitcoin fixes it.” Ah, the sweet sound of digital optimism! But Kiyosaki, ever the realist, began to ponder the implications of an empty Fort Knox. “What if?” he asked, his mind racing like a horse on a track. “What if the gold is gone?”

Isn’t there a significant possibility that people might just decide that it doesn’t really matter all that much whether the gold is there or not? The price of gold would likely go up, but other than that, there really might not be much impact.

— David “JoelKatz” Schwartz (@JoelKatz) February 23, 2025

Schwartz, with a wry smile, countered Kiyosaki’s doomsday scenario. He suggested that perhaps, just perhaps, the good folks of America wouldn’t lose sleep over the absence of gold in Fort Knox. “The price of gold would likely go up,” he mused, as if he were discussing the weather rather than the fate of a nation’s currency.

In a moment of candor, Schwartz acknowledged that while a dollar collapse was a theoretical possibility, it was about as likely as finding a unicorn in your backyard. “The dollar will work precisely the same both before and after this,” he asserted, as if he were a wise old owl perched on a branch, watching the world below.

I agree that it would make sense for that to happen, but that doesn’t mean that it will. The dollar will work precisely the same both before and after this, the supply will be the same, and I’m not convinced the demand will change even though it ‘should’.

— David “JoelKatz” Schwartz (@JoelKatz) February 24, 2025

And so, in this curious exchange of ideas, the world of finance spun on, with Schwartz reminding us that the dollar, like an old friend, would remain steadfast, regardless of the gold’s whereabouts. After all, in the grand scheme of things, isn’t it all just a game of numbers and whims?

Read More

2025-02-24 14:08