Famous best-selling author, Robert Kiyosaki, who was ushered into stardom by his popular book on financial intelligence, “Rich Dad Poor Dad,” has referred to the US Dollar as a scam. Although, he didn’t mean it literally as he declares the Bitcoin (BTC) as “currency of the people” which has come to put an end to the monopoly of the fiat currency.
“The US Dollar is a Scam”
While Kiyosaki was interviewed, he reportedly told Kim Hughes on the Sane Crypto Podcast where he praised the digital currency as having endless potentials as opposed to USD. He speculated that a market crash is likely going to occur though he was not specific about the date of this incidence. He stated that:
“The US Dollar is a scam…I think the dollar is toast because gold and silver and cyber-currency are going to take it out…The US Dollar is gone…In the year 2000, there was one currency, the US Dollar. It was called the reserve currency of the world…and then came bitcoin or cyber-currency.”
Kiyosaki, whose book went on to sell upwards of 32 million copies, turning it into a multinational sensation for advocating the overall importance of financial ability, reviewed his most recent publication titled, Fake: Fake Money, Fake Teachers, Fake Assets.
He stated in the book that gold, bitcoin, and other cryptocurrencies do have a tremendous potential to withstand the looming market crash which he predicted.
In addition, he expressed his criticisms against fiat currencies Some have rightly pointed out that the governments are required to accept fiat for taxes, which gives it some measure of monopoly in value over the digital currency but Kiyosaki remain unmoved and unapologetic that the fiat currency holds no sacred position in the community, stating that cryptocurrencies would do just fine in replacing it.
He went further to express series of radical controversies of financial option which includes the description of the conventional currency as “loser” thereby calling for a return to the gold standard which has been removed since 1971 by President Richard Nixon.