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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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