Gold prices slip slightly after recent gains; U.S. data eyed
Financial expert and author of "Rich Dad, Poor Dad", Robert Kiyosaki, has recently criticized traditional income generation methods and the overproduction of what he terms "fake" US dollars. In a social media post titled "Lesson #1", he disparaged earnings from typical jobs as a "scam," noting how taxes and inflation devalue these earnings. He pointed out that the poor and middle-income groups often invest this "fake USD" in underperforming assets such as stocks, mutual funds, and exchange-traded funds (ETFs).
Kiyosaki suggests alternative income sources such as rental properties, oil, and food production for tax-free profits. He emphasizes the importance of investing in real assets like Bitcoin, gold, and silver. According to him, the rich focus on these tax-free assets to maintain lifelong financial security & freedom.
Furthering his argument, Kiyosaki warned about the crashing stocks, bonds, mutual funds, and ETFs. He identified three accelerators for Bitcoin's growth: the 2008 US banking crisis involving banks like Silvergate, Signature Bank (OTC:SBNY), Silicon Valley Bank; potential introduction of a gold-backed cryptocurrency by BRICS leaders; and skyrocketing US national debt.
The US national debt has recently hit a staggering $31.4 trillion following the removal of the debt ceiling, Q4 borrowing of $1 trillion, and plans to borrow an additional $1.5 trillion. Kiyosaki predicts an upswing in Bitcoin prices driven by these factors. His advocacy for real assets underscores his belief that "the rich don't work for $" but rather pursue financial security through tangible investments.
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