Renowned author of the 1997 financial best seller; RICH DAD POOR DAD, Robert Kiyosaki stated at a recent event that Cryptocurrencies, Gold and Silver will outlive fiat and lead the surge over an impending economic downturn never experienced in the world. Widely known as a top notch investor, financial expert and entrepreneur with a yearning impact on lots of financial disciples, he’s words spell a positive light for the crypto space moving forward.
In a detailed explanation, Kiyosaki predicts an impending failure of fiat currency which he says will cause the greatest financial scare and global recession ever experienced and that cryptocurrency will be one of the lone survivors of this financial draught. In his interview, Kiyosaki made known his distaste for the U.S Federal Reserve quantitative easing policy, which involves creation of fresh currency en masse; this policy in his opinion is inflating a large financial bubble out of proportions and will lead to the next massive economic crash.
Kiyosaki has in a few other previous interviews expressed clearly his distaste about fiat/paper currency which he describes as “fake money not backed by any physical asset” and questions bank policies as regards fiat currency. In his opinion, Gold and Silver are basic sound investments however; Cryptocurrencies are a wonderful idea which will outlive fiat.
In a more direct notion, Kiyosaki expects Gold, Silver and Cyber currency (Cryptocurrency) to reign over fiat(dollar) in the long run and is quoted as saying;
“I talk about three types of money; God’s money (Gold and Silver) which will always exist, then Government money (the Dollar, the Yen, the Euro) which is fiat and then the People’s money which is Cyber currency. I think the dollar is toast because Gold, 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”.
This claim by Mr Robert Kiyosaki is given further validity by a recent report by Swiss multinational bank, UBS in which it states that Bitcoin could replace the US dollar if it hits a value of $213,000 per coin. Also economic experts from Goldman Sach’s and Billionaire Bill Gates have earlier before now corroborated claims on this impending economic crash. It is expected that as millennials, Bitcoin emerges the winner of this plunge.