According to prominent American businessman and author, Robert Kiyosaki, people should avoid saving cash. Instead, they should focus on accumulating more gold (God’s money) or Bitcoin (people’s money).
Save Gold and Bitcoin
Kiyosaki, aside from his business ventures, is best known for his Rich Dad, Poor Dad book. Published in 1997, it became a New York Best Seller instantly and has sold over 32 million copies in more than 100 countries.
He also predicted the 2008 Financial Crisis and criticized the countermeasures attempted by the U.S. government. More recently, he’s been warning that a new, much worse, recession is coming. As a means to protect themselves, he urged people to avert from saving “fake dollars.” Instead, they should accumulate gold and Bitcoin:
“SAVE MONEY: RU NUTS? Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero-interest policy pays losers zero?
Save gold – god’s money or Bitcoin – people’s money.” – he Tweeted.
Kiyosaki referred to the recent stimulus package by the U.S., totaling at $6.2 trillion. In what became the most substantial one in history, the government tried to alleviate pressure off businesses and citizens. In reality, however, such an extensive amount decreased the value of the dollar against other currencies.
As such, people should be better off if they place their savings into two U.S. defined commodities – the precious metal gold and the first-ever cryptocurrency Bitcoin.
Bitcoin And Gold Will Outlive USD
This is not the first time Kiyosaki attacked fiat currencies and the USD in particular. A few years ago, he signaled that the financial world will experience serious alternations by the year 2040.
He predicted that gold since it has been here “for eternity” will still play an active role. He had a different view on the dollar, however:
“Will the dollar be here? I don’t think so. The dollar is toast because gold, silver, and cyber currency are going to take it out.
The U.S. dollar is a scam. I think we are watching the end of the dollar. That’s what I’m saying.”
He continued by indicating that blockchain will be here in twenty years. Moreover, he admitted that he owns some bitcoins and even Ethereum.
Interestingly enough, Kiyosaki is not the only one believing that the dollar will collapse. Popular American economist and permanent gold bull, Peter Schiff, recently made the same alarming prediction. He also noted that the only way for the U.S. to bounce off is to bring back the gold standard.