‘Rich Dad Poor Dad’ Author Issues Crucial ‘Fake USD’ Warning to Investors

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As a seasoned investor and follower of Robert Kiyosaki for years now, I find his recent statements on the “fake” US dollar and the importance of financial education to be both eye-opening and reassuring. Having read “Rich Dad Poor Dad” myself, I can attest to its wisdom and insight into wealth management.

As a financial analyst, I’m often reminded of influential figures like Robert Kiyosaki, renowned for his expertise in investing and best-selling book “Rich Dad Poor Dad” that offers insights into asset management. Recently, he took to addressing his vast audience of X followers to delve into a significant topic.

Exposing “fake” US dollar

Robert Kiyosaki reiterated to the community that the U.S. dollar has significantly changed from its former state. In 1971, he noted on Twitter, President Richard Nixon removed the gold backing of the dollar, leading to the U.S. dollar’s support through U.S. Treasury securities and bonds, according to Kiyosaki. Since then, he contends that the U.S. dollar has essentially become an artificial or “fake” currency.

Afterward, he directs the audience to his previously mentioned book titled “Rich Dad Poor Dad” and highlights significant points regarding the U.S. dollar and other assets that historically influenced the American economy.

In 1971, the U.S. dollar lost its intrinsic value when President Nixon removed it from the gold standard. Since then, the U.S. dollar has been maintained through the issuance of Treasuries and bonds. This is why in “Rich Dad Poor Dad,” I wrote: “The wealthy do not chase (worthless) money. Your house is not an…— Robert Kiyosaki (@theRealKiyosaki) October 14, 2024

In Kiyosaki’s perspective, he emphasizes that wealthy individuals don’t hoard “inflated U.S. dollars” and consider homes as non-investments. His third point, echoing the first, can be rephrased as: “Those who save are essentially losing out.” This is because the dollar lacks gold backing and has been depreciating for years, making savings in dollars ineffective. Similarly, a house is not an asset due to its vulnerability to market crashes, like the one experienced during the 2008 financial crisis when the mortgage bond market collapsed. Furthermore, owning a home often results in long-term debt with banks.

Robert Kiyosaki emphasizes that financial education is crucial because it equips individuals with the skills necessary to sail through the turbulent waters of finance. This knowledge empowers them to face and overcome the various challenges and crises that frequently arise in this ever-changing field.

“I will be buying all the Bitcoin I can”

Over the weekend, Kiyosaki posted a tweet about the 2008 financial crisis. In his words, during that time, “unscrupulous figures at the Federal Reserve and Treasury” started printing trillions of dollars without any backing, as they tried to prevent a depression. He acknowledges that, while it may have been a repeat of the Great Depression, it was possibly avoided.

I apologize if my previous tweet seemed confusing to you, my friends. Let me try to simplify things for you:

— Robert Kiyosaki (@theRealKiyosaki) October 12, 2024

Robert Kiyosaki emphasizes that gold, silver, and Bitcoin are his preferred stable investments. He acknowledges they could experience a downturn, but remains committed to acquiring more Bitcoin when its price is low. In simpler terms, he plans to buy as much Bitcoin as possible, along with other assets, whenever the prices are significantly reduced.

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2024-10-14 11:14