Robert T. Kiyosaki, the author of one of the celebrated book “Rich Dad Poor Dad” has supported digital currencies in a recent podcast and called US Dollars as a scam, having no substance, claiming that virtual currencies and gold would last longer than fiat currency.
Robert predicted of an inevitable economic crash. He said that after the unfortunate dot com crash in 2000 and a “subprime real estate” crash in 2008, the “next is going to be the biggest of all.”
Robert has always been a firm believer that the United States Dollars (USD) has been nothing more than a scam and believes it to be fake, especially the erstwhile president Nixon removed the gold standard. He believes that the country is creating a perfect illusion of its money. Whenever money is required, the government prints new money as much as possible. Kiyosaki has been an admirer of gold and predicts that the US Dollar will be wiped out sooner or later.
Announcing about his new book Fake, Robert claimed that the country has quite a lot of fake money out there, it is important that such money is taken out. Commenting on the United States policy of “quantitative easing” wherein the country can print money continuously, the financial expert said that the policy has been the primary cause of inflating a large bubble.
The best-selling author also admires digital currencies and believes that in future, the technology would be strong enough to replace USD. Segregating each type of money and explaining its importance, Kiyosaki says
“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.”