After warning that government bailouts to the recently collapsed banks in the United States could flood the economy with more “fake money” in the form of the U.S. dollar, Robert Kiyosaki has criticized President Joe Biden over claiming that this rescue strategy wouldn’t damage taxpayers.
Indeed, Kiyosaki, who is the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ expressed his scathing views of Biden’s words, with which the President had aimed to calm the market and taxpayers after the Silicon Valley Bank (SVB) collapse, in a Twitter post published on March 14.
“Biden says bailout of SVB Silicon Valley Bank will not costs taxpayers anything. What is he smoking?”
Specifically, the U.S. President had told reporters at the White House that “no losses” from the SVB collapse would be endured by taxpayers, and the bailout would come from the fees banks pay into the Deposit Insurance Fund after the Federal Deposit Insurance Corporation (FDIC) took control over the bank’s assets as it ran out of cash.
‘Fake money’ still printed
However, this wasn’t enough to calm Kiyosaki’s fears for the American taxpayers and the economy as a whole, as he also maintained that the Federal Reserve and the FDIC were signaling hyper-inflation as they printed “more and more of this fake money,” referring to the USD, in an interview with Fox Business on March 13.
In the interview, he specifically praised silver as the best investment because of its connection to the American weapons systems, arguing that “every Tomahawk missile has 30 lbs of silver in it, and every time they push that missile button, 30 lbs of silver disappears.”
“So we’re in serious trouble, and the Fed and the FDIC are signaling ‘we’re going to do whatever it takes,’ and that means to print more of this stuff here, and this is trash,” he said, showing the USD notes in his hand.
It should also be noted that Kiyosaki had long been arguing for the switch to the assets such as Bitcoin (BTC), gold, and silver as the alternative to this “fake money” that he earlier said was about to “invade sick economy” and contribute to the “end of the American Empire,” as Finbold reported.
Meanwhile, the list of banks, either already collapsed or at risk of collapsing, continues to grow, as SVB, Silvergate Bank, and Signature Bank all crashed within days of each other, and the Zurich-based Credit Suisse default insurance cost reached all-time highs.
Featured image via The Rich Dad Youtube Channel