Amid his continuous warnings about the looming financial collapse that he believes will strike the United States, as well as the rest of the world, Robert Kiyosaki has recently issued a word of caution to people saving money in U.S. dollars, telling them they are in “serious trouble.”
Indeed, the popular investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ opined that dollar savers were in trouble, as he discussed the economy with Miles Franklin Precious Metals founder Andy Schectman for an episode of The Rich Dad Channel on August 14.
Why dollar savers are in trouble
According to Kiyosaki, the USD “gave the power to the stock market to go through the roof, and when they talk about the bubble, the three-times bubble, it’s stocks, paper assets, real estate, and the dollar is going to crash,” and he has warned people with savings in the American fiat currency:
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“So all you savers out there, I would pay attention right now because if you’re still believing in the power of the dollar, you’re in serious trouble. (…) If you’re saving money investing in your 401k or IRA, I’d call you a loser, and I don’t want you to be a loser, so ladies and gentlemen, this is the most critical time in history.”
Teaching pigs to sing
Furthermore, the finance educator pointed out that many people today remain ignorant to “inflation running and all the goofy stuff going on,” so trying to educate them and get them to change their well-established beliefs and practices would be a very difficult task or, in his words:
“The saying I have is ‘don’t teach pigs to sing; it’s a waste of your time, and it annoys the pig.’ If you’re talking to pigs at home, don’t teach them to sing because you’ll waste your time. They still believe in going to school, getting a job, saving money, paying taxes, getting out of debt, and investing in 401k or IRA; they’re going to be the biggest losers today.”
As a reminder, Kiyosaki has long warned of the declining value of the U.S. dollar, more recently pointing out that the already dire situation was only going to get worse, particularly as schools, in his view, are not very good at teaching financial literacy, as Finbold reported back on May 9.
On top of that, he has advocated for getting out of the ‘fake’ fiat money and banks and instead investing in assets like the maiden cryptocurrency Bitcoin (BTC) and precious metals like gold and silver, touting them as the best way to protect one’s wealth against what ‘criminal’ policies of financial authorities.
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