“Rich Dad, Poor Dad” is a best-selling finance book, sold more than 32 million copies, written by Robert Kiyosaki.
Mr. Kiyosaki is warning us of an economic crash like “the world has never seen before”. He is about to do an Australian tour sometime this month, but for now he is not that certain when the crash is going to take place, but the “foreshocks are sounding right now”.
The dotcom bubble happened in 2000s, next came the subprime real estate crash in 2008, and “the next crash is going to be the biggest of them all”, says Mr. Kiyosaki.
He says that the U.S. Constant printing of money, called the quantitative easing, is inflating a large bubble, but when it comes to Bitcoin, he says that “it is a wonderful idea”.
“I talk about three types of money today. One is God’s money, which is Gold and Silver, they will be here after the cockroaches go extinct. It will always be here. Then there’s government money which is fiat currency the dollar, the Yen, the Euro. And then there’s people’s money, which is cyber currency. I think the dollar is toast because Gold and Silver and cyber currency are going to take it out. The US dollar is a scam”, he said, “I think we’re watching the end of the dollar. That’s what I’m saying”.
“I’ve always been a gold bug. My latest book coming out is called “Fake”. There’s so much fake money. In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money,” he said.
That is a pretty vivid image painted there by the best-selling author. The question that remains unanswered is about other fiat currencies. One is the death of the U.S. Dollar which is being printed all the time, but what will happen to the Japanese Yen or Russian Ruble, for example, after the USD crash? But one thing is for certain, which Robert Kiyosaki already mentioned – Bitcoin and cryptocurrencies in general are the “people’s money”.