The author of “Rich Dad Poor Dad” wonders what the FED will do in a situation like that. He questions whether the Treasury Department will continue to send “fake money” to people.
Renowned businessman and author Robert Kiyosaki recently criticized the banking system of the United States, the Federal Reserve (FED) and the Treasury Department, but approved of Bitcoin once again. The writer of the book “Rich Dad Poor Dad” also predicted that a great banking crisis is rapidly approaching.
In his Twitter account @theRealKiyosaki, he questioned what US financial and monetary institutions will do when the potential crisis arises. The also speaker talked about business magnate Warren Buffet and asked his followers if they had already invested in gold, silver, and Bitcoin.
He said that Buffet does not have banks as they are bankrupt and he warned that a great banking crisis is imminent. He also wondered whether the FED and the Treasury Department would take over the banking system. He even questioned whether they would send “fake money” from the FED and the Treasury directly to the people to prevent mass riots. The investor said that there was no time to “think about it” and invited his followers to invest in gold, silver, and Bitcoin.
The “fake money” that Kiyosaki refers to is the financial aid that millions of Americans have received to fight the economic impact that the COVID-19 pandemic has had. Last April, the US government sent USD 1,200 in aid to around 150 million people, which the investor has criticized.
In a previous message, Kiyosaki reminded me about the market debacle that occurred in March. At the time, the World Health Organization (WHO) classified the COVID-19 disease as a pandemic.
In August, the author has analyzed what might happen if the stock market crashes again. He stated that a new collapse would be bigger than that of March 2020. He also reflected that Buffet left banks for some reason and went to gold.
According to Kiyosaki, Buffet reduced his equity exposure in JP Morgan and Wells Fargo. Besides, the billionaire exited entirely from Goldman Sachs to direct funds to gold miner Barrick Gold.
The businessman’s reflections caused reactions among his followers. While some support his points of view, others continue to question his ideas. The opinion of Twitter user @BTemelakiev, identified as Boicho Temelakiev, is that of the latter group.
According to Temelakiev, the price of gold, silver, and Bitcoin will eventually decrease while the US dollar will remain the king “until the dust settles.” He said that everything will be the same as usual and “the US dollar will finance the party.” From the other side of the shore, Twitter user @Chris78jc argued that “Bitcoin has outperformed any other asset class in the last decade.”
Bitcoin and cryptocurrency enthusiasts follow Kiyosaki’s statements closely. Last June, the writer wrote a message in which he stated that “the US Federal Reserve is dead.” Two months earlier, the businessman had also stated that “the US dollar is dying.”
By Willmen Blanco
