The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted the end of the U.S. dollar. Furthermore, he said that the Russian-Ukraine war has given rise to crypto as “a safer haven asset than government fake fiat money.”
Robert Kiyosaki on War and Bitcoin
Rich Dad Poor Dad author Robert Kiyosaki discussed bitcoin, the Russian-Ukrainian war and the end of the US dollar in a series of tweets on Tuesday.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
Citing that many Russians are using bitcoin as a lifeline after the collapse of the Russian rouble, he wrote, “The Ukraine/Russia war gave birth to crypto as a safer haven than fake government fiat money.”
Kiyosaki also tweeted Monday that the Biden administration and the Federal Reserve “want inflation to pay off trillions in debt,” advising:
[The] The best investment may be to store products that you will always use, such as toilet paper, trash bags, canned goods, frozen food, gold, cash, bitcoin.
He explained further in a different tweet about investing in oil. “I do not invest in oil companies such as Mobile or Exxon. I invest directly into oil wells. Higher risk for higher returns. Tax breaks fantastic. Two wells came in last week as oil went from $70 to $130. Rich get richer but poor suffer,” the famed author wrote.
Last week, Kiyosaki warned that “we are in the biggest bubble in the history of the world” and that the US government will seize all cryptocurrencies. He predicted that the government would regulate the crypto sector and then launch a “Crypto Fed”. Ultimately, Kiyosaki said all cryptocurrencies will be seized and integrated into government crypto.
His predictions were heavily criticized on social media, with many people telling him that not all cryptocurrencies can be seized. For example, decentralized cryptos, like bitcoin, cannot be seized within the network and the government will have a tough time going after self-custodied cryptocurrencies.
Kiyosaki discusses the end of the US dollar
Kiyosaki also referred to the end of the US dollar on Tuesday. He noted that American hegemony is ending and the United States is becoming less and less of a world power.
As evidence, the Rich Dad Poor Dad author referenced the news of Saudi Arabia considering accepting Chinese yuan instead of U.S. dollars for Chinese oil sales.
Several people have spoken publicly about the US dollar’s loss of dominance since the start of the Russia-Ukraine war, including veteran investor Jim Rogers who co-founded the Quantum Fund with billionaire investor George Soros. “What’s happening with the US dollar now is the end of the US dollar because an international currency is supposed to be neutral but in Washington they are now changing the rules,” Rogers explained.
