Robert Kiyosaki, author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has issued a stark warning regarding the effects of inflation on the American middle class and the impact of the government’s decision on oil.
According to Kiyosaki, the rising cost of oil and the government’s push towards green energy policies will ultimately result in rampant inflation, which will have deadly consequences and potentially eliminate the middle class, he said in an interview with Vlad TV published on March 27.
Kiyosaki emphasized oil’s crucial role in powering society, suggesting that government policies on the commodity will eventually make the middle class ‘toast.’
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“When the middle class is toast, all you have is two classes of people, rich and poor, and our civilizations run on oil. <…> Oil is through the roof because he’s [President Joe Biden] a green new deal guy. It’s killing our middle class. Inflation is going through the roof, and it’s going to kill people. I don’t know how people survive today,” he said.
He further criticized President Biden’s decision to withdraw from Afghanistan, which he claims resulted in Saudi Arabia joining forces with Russia and driving up the price of oil.
Kiyosaki on systemic inflation
In recent months, Kiyosaki has increasingly highlighted the implications of rising inflation in the U.S. while blaming the Federal Reserve. The financial educator had earlier termed the current inflation systematic while blasting the Fed chair, noting that he ‘was lying through his teeth’ when he said inflation was transitory.
The author noted that capitalism also faces a threat due to inflation while encouraging investors to take advantage before the situation becomes permanent. Kiyosaki continues to advocate for investment in gold, silver, and Bitcoin (BTC), believing the assets are the ideal cushion against the economic downturn.
At a time the U.S. dollar is threatened to lose its status as the global reserve currency, the author has also cast doubt on its sustainability. As per a Finbold report, Kiyosaki warned that the dollar would return as ‘a tidal wave of toilet paper on America’.
To reiterate, the author has held harsh opinions about the American currency for a considerable period and has recently projected that the U.S. dollar’s extended reign as the world’s reserve currency may end. The author has gone as far as calling it “toilet paper.”
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