Robert Kiyosaki has recently been very critical about the state of the US economy going ahead. Kiyosaki predicts a major crash in the US market over the coming time.
Robert Kiyosaki, the author of Rich Dad Poor Dad, has once again advised his followers to buy Bitcoin along with Gold and Silver while predicting the collapse of the US dollar. He also cites the threat emerging from BRICS nations who are reportedly working on a gold-backed stablecoin.
In his recent tweet on X, Kiyosaki said that he’s currently in South Africa and has been curiously watching all the key developments taking place in the region. He also said that there have been strong talks regarding the BRICS nations developing a cryptocurrency, possibly backed by Gold.
Kiyosaki believes that the introduction of such a currency could possibly lead to a massive influx of USD back to America, which could potentially trigger hyperinflation, and ultimately the collapse of the US Dollar.
In response to these concerns, Kiyosaki advises investors to hedge against currency devaluation by diversifying their portfolios. He recommends purchasing assets such as gold, silver, and Bitcoin as a means of protecting oneself from the potential repercussions of a US dollar crash.
Currently in South Africa a country I love. Watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold. If BRICS gold crypto happens trillions in fake money, fiat US dollars…
— Robert Kiyosaki (@theRealKiyosaki) May 12, 2024
Robert Kiyosaki has recently been very critical about the state of the US economy going ahead. Kiyosaki predicts a major crash in the US market over the coming time. He also warns about a DEPRESSION-like scenario and says that it’s better to prepare for the worst.
BRICS Preparing for USD Alternative
Last week, a Russian IMF representative stated that the BRICS nations are all set to provide an alternative to the US dollar. In a Friday interview with RIA Novosti, Russian IMF representative Alexey Mozhin highlighted the increasingly evident flaws in the current financial system. Novosti said:
“Such a proposal is being discussed. In the event of the collapse of the dollar and the international monetary system, it will be necessary to turn the said BRICS accounting unit into a real currency, backed by exchange goods.”
Note that the US dollar is still the world’s reserve currency, and its collapse is unlikely to be an overnight event in the market. However, top economies and US rivals like China have been on a massive gold-accumulation spree over the past few months.
In his recent tweet, Elon Musk drew a comparison between the Federal Reserve and a rule from the Monopoly game, suggesting that similar to the game bank, the Fed is incapable of going bankrupt and can continuously generate more money. This analogy has sparked conversations about monetary policy, especially in light of the anticipated return of quantitative easing (QE).
Buy #Bitcoin.
Buy Gold.
Buy Silver.They’ll start QE in the next months again. https://t.co/B9wAd3mN1W
— Michaël van de Poppe (@CryptoMichNL) May 11, 2024
Crypto investor Michael van de Poppe said that QE to begin very soon following the summer break. Thus, he advised investors to buy Bitcoin, Gold, and Silver.
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