Amid repeated warnings of the looming financial crisis, Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has alerted his viewers of the strong chance of an ‘economic tsunami’ coming to sweep the United States and the rest of the world.
As it happens, Kiyosaki was discussing money, central bank digital currencies (CBDCs), as well as the American Federal Reserve’s CBDC ‘FedNow’ project with George Gammon, the host of ‘The Rebel Capitalist Show,’ during an episode of ‘The Rich Dad Radio Show’ podcast streamed on April 12.
In particular, the two expressed concern over the “giant tsunami,” which the ‘Rich Dad’ author said was “the biggest in the world because it’s global. I mean, it’s going – Credit Suisse, Deutsche Bank, Bank of Japan – doesn’t get much bigger than that. And China’s having trouble too.”
As he reiterated:
“The Silicon Valley Bank was the first casualty. And then the Swiss Credit Suisse and Deutsche Bank. And the next is the Bank of Japan. (…) This is a global crash. (…) I went through several tsunamis and all this stuff at sea. The years I was out there, it didn’t bother the ship, but when it hit land – ‘whoom.’”
Meanwhile, Gammon agreed and highlighted that this tsunami was not visible “way out at sea (…), you can’t see it,” but that the warning system in the economic sector was the fact that the “two-year treasury yield is higher than the 10-year,” and right now “the tsunami is not a 100 miles away, (…) the tsunami is a 100 feet away.”
In Kiyosaki’s words, this is a danger to the whole monetary system, as “a crack in the foundation is now showing how fake this whole system is, this whole monetary system that just creates money out of nothing.” Hence, he believes that “the American empire is going down, and that means that dollar is possibly going down,” as it will no longer be the world’s reserve currency that had caused the US to boom.
Big Brother and CBDCs
As for the announced FedNow CBDC, which Democrat presidential candidate Robert F. Kennedy Jr. warned could lead to “financial slavery and political tyranny,” Kiyosaki expressed concern over what it meant for privacy:
“The big concern with FedNow CBDC is that we lose our privacy, that they’ll track us, they’ll track every move because they’ll know everything we’re spending money on, what we spend it on, who we give it to, and all this. So it becomes George Orwell’s 1984. Big Brother will watch you via our money, and that’s the problem with CBDC or the Fed coin.”
Notably, Kiyosaki had also earlier warned about President Joe Biden’s executive order on crypto, ‘Ensuring Responsible Development of Digital Assets,’ likening it to George Orwell’s totalitarian and dystopian-sounding vision of the future described in the novel ‘1984,’ as Finbold reported in September 2022.
Watch the entire video below: