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In light of his forecasts regarding a potential financial downturn, Robert Kiyosaki, a prominent entrepreneur and author of the acclaimed personal finance book ‘Rich Dad Poor Dad,’ has issued yet another caution against fiat currency, specifically the United States dollar (USD), which he labels as ‘counterfeit.’
Kiyosaki recounted an anecdote about how he began creating his own coins during his youth by melting down old lead-based toothpaste tubes, thereby “manufacturing lead nickels, dimes, and quarters,” as stated in his X post from July 28.
MONEY is a fascinating topic. Everyone in today’s world utilizes money…whether they earn it or not.
If you are born into wealth…you might be fortunate….yet history indicates that many family fortunes dissipate by the third generation.
I started exploring money when I…
— Robert Kiyosaki (@theRealKiyosaki) July 28, 2024
Nonetheless, the “poor dad” figure from his book, inspired by real individuals in Kiyosaki’s life, cautioned him that this was ‘counterfeiting,’ informing him that it was illegal and that he could face imprisonment if apprehended, effectively halting his “toothpaste tube smelting venture.”
3 Assets To Buy Instead Of Counterfeit USD
Kiyosaki further emphasized that “in 1971, President Nixon removed the dollar from the gold standard, and the US Treasury and Federal Reserve Bank commenced counterfeiting money,” referring to the USD, which is no longer backed by gold, as “fake money,” and contending that:
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“Individuals working for ‘Fake Money’ is a key factor contributing to the widening gap between the affluent and the impoverished. Don’t be a loser. Cease working for and saving ‘Fake Money.’”
In conclusion, the author of ‘Rich Dad’ referenced the recent address by former US President and current Republican presidential candidate Donald Trump, in which he advocated for Bitcoin (BTC) and silver as ‘smart money,’ labeling him a “financially brilliant man,” and advising his followers to:
“Become more knowledgeable and save gold, silver, and Bitcoin.”
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It is important to note that Trump was a featured speaker at the Bitcoin 2024 conference in Nashville, Tennessee, where he pledged to establish the US as the “crypto capital of the world,” which has sparked optimism and bullish sentiment within the cryptocurrency sector.
Additionally, it is noteworthy that, following his speech, the social sentiment surrounding the leading decentralized finance (DeFi) asset, assessed by the ratio of positive to negative remarks about it on social media, surged to its highest point in 16 months, as reported by Finbold on July 28.
Bitcoin's +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month. The ratio of positive vs. negative comments toward BTC has launched to its highest level since March, 2023 as an all-time high is back on radars. pic.twitter.com/sDbsAK9qCg
— Santiment (@santimentfeed) July 28, 2024
Bitcoin's +20% 3-week price rally has left traders feeling a whole lot more bullish than they were at the beginning of the month. The ratio of positive vs. negative comments toward BTC has launched to its highest level since March, 2023 as an all-time high is back on radars. pic.twitter.com/sDbsAK9qCgMeanwhile, the value of Bitcoin, which constitutes a substantial portion of Robert Kiyosaki’s net worth, has also seen gains, increasing by 3.13% in the past 24 hours, with a total rise of 3.25% over the last week, and a cumulative growth of 13.94% in the previous month, reaching a price of $69,520, according to data from July 29.
