In April 2023, ‘Rich Dad Poor Dad’ author Robert Kiyosaki warned that the U.S. dollar could effectively become “toilet paper” as inflation, banking instability, and de-dollarization fears shook global markets.
Three years later, with inflation still elevated, the U.S. debt burden surging, and Bitcoin and gold posting massive gains, investors are increasingly asking whether Kiyosaki’s infamous dollar-collapse prediction was actually right.
While the U.S. dollar has retained its status as the world’s dominant reserve currency and avoided the catastrophic collapse many feared during the 2023 banking crisis, Americans have nevertheless experienced a significant erosion in purchasing power as persistent inflation continued weighing on consumers and financial markets alike.
How much did USD fall since Kiyosaki likened it to ‘toilet paper’
To begin with, there is little doubt that the U.S. dollar lost some of its value since Kiyosaki likened it to toilet paper as geopolitical turbulence grew more severe and as inflation proved more stubborn than many had hoped.
Despite this, the U.S. dollar index (DXY) – an index that tracks the American currency against a basket of multiple major global tenders – has fallen only 2.27% from 101.5 in April 2023 to 99.2 in May 2026.
Furthermore, the DXY remains 10.49% up in the last five years and a slight 1.69% down in the 12-month chart.
A different measurement for the value of USD, the inflation calculator provided by the U.S. Bureau of Labor Statistics, makes it possible to quantify exactly by how much the currency has depreciated since early 2023: $1 in the spring of 2026 has the same purchasing power as $0.91.
How have Kiyosaki’s ‘toilet paper’ alternatives performed?
In April 2023, along with discussing the valuation of toilet paper relative to the USD, Robert Kiyosaki also reflected on the possibility that the announced BRICS currency could jeopardize American financial dominance.
While there has been significant pressure from central banks hedging by purchasing vast quantities of gold, the international organization comprised at its core of Brazil, Russia, India, China, and South Africa is yet to launch its alternative.
Lastly, while ‘Rich Dad’ Robert Kiyosaki’s gloomy predictions have not truly come to fruition, his proposed alternatives to ‘toilet paper’ would have, generally, been worthwhile investments.
For example, both of the author’s top assets – Bitcoin (BTC) and Gold – have rallied significantly from April 2023, with the former rising approximately 174% and the latter 123%.
Purchasing Silver – Kiyosaki’s other preferred commodity – would have also led to significant returns due to the 200% price increase, but the other cryptocurrency he often mentions – Ethereum (ETH) – would not have led to positive results.
Indeed, ETH is essentially flat compared to where it stood three years ago, but the loss in the purchasing power of USD means it would have also been a slight loser.
Featured image via Ben Shapiro’s YouTube
