Amid his countless warnings that fiat money, particularly the United States dollar (USD), would become worthless soon, Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has explained why it might be difficult for many people to give up on paper cash.
Indeed, the renowned investor was discussing the current economic climate, the potential collapse of the USD, and the importance of investing in precious metals with his guest, a successful entrepreneur Clay Clark, during an episode of The Rich Dad Channel podcast streamed on November 1.
As Kiyosaki explained, holding a dollar bill in his hand:
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“The point here is this – it’s people are addicted to this here. (…) My whole family, they hang onto paper. They’re Japanese, what do you expect? The Japanese are savers, and they save paper. It makes no sense to me.”
Kiyosaki’s alternatives to ‘paper’
Instead, the finance expert stressed that he was focusing on hoarding the “four G’s,” which include gold, ground (real estate), grub (food), and gasoline, as well as silver and the flagship decentralized finance (DeFi) asset – Bitcoin (BTC) – in his earlier videos, as a way to prepare for the crisis he believed was coming.
Back in March, Kiyosaki projected the downfall of the USD’s domination as the global reserve currency, likening it to “toilet paper” and arguing that silver and gold were the “good money” that would replace the dollar once the world abandoned the USD and it returned as a “tidal wave” on America.
Meanwhile, he also shared his view that cryptocurrencies, especially Bitcoin, were the “biggest hedge against criminal money,” predicting that the “next stop” for the price of the maiden crypto asset was at $135,000 while urging his followers to tell their friends to “wake up.”
More recently, Kiyosaki has stressed that stupidity and a lack of financial education were the biggest threats to the US, referring to teachers as “bureaucrats” who lacked the competence to teach their students about finances and the economy, as Finbold reported on October 17.
Watch the entire video below:
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