Famous Author Believes Cryptocurrency Will Outlast Fiat Money
American author and businessman Robert Kiyosaki firmly believes that fiat currency is all sham and no substance. He has predicted doom for the currency and thinks that gold and digital money will survive longer than fiat.
Massive Market Crash is Imminent
Robert Kiyosaki, the author of Rich Dad, Poor Dad, one the best-selling finance books of all time, is warning of an imminent economic crash. According to Kiyosaki, he is very sure that this crash is coming, but he isn’t sure when it will happen. The author said:
“Unfortunately, we had a big crash in 2000, they called it the dot-com crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all.”
The U.S. Dollar is a Scam
Kiyosaki has continuously referred to the dollar as a charade and a scam. He believes that the U.S. dollar is a fake, especially since former president Nixon took off the gold standard in 1971. The U.S. is creating this perfect illusion of its money. To stay relevant, the government has countinuously printed as much new money as possible. Kiyosaki has long been a fan of gold and firmly insists that the dollar is fake, and in no time, will be wiped out.
The financial expert has announced that a new book is coming out titled Fake. He further stresses that there is so much fake money out there that needs to be taken out. The United States is practicing what is known as “quantitative easing,” whereby money is printed continuously. This Kiyosaki says, is inflating a large bubble.
Cryptocurrency Will Outlive Fiat Money
The American author, is, however, very fond of digital currency. He believes that the nascent technology could be capable of displacing the dollar. When push comes to shove, gold, silver and digital currency will remain standing. Fiat currencies like the Dollar, the Yen, and the Euro will become extinct. Categorizing each money and explaining their significance, Kiyosaki said:
“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. I think we’re watching the end of the dollar. That’s what I’m saying.”
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