Amid his predictions of a financial collapse, Robert Kiyosaki, a renowned entrepreneur and author of best-selling personal finance book ‘Rich Dad Poor Dad,’ has issued another warning against fiat money, particularly the United States dollar (USD), which he considers ‘counterfeit.’
As it happens, Kiyosaki retold a story about how he started to make his own coins when he was young by melting down old tubes of toothpaste made out of lead at the time, thus “producing lead nickels, dimes, and quarters,” according to his X post published on July 28.
MONEY is an interesting subject. Everyone in the modern world uses money…regardless if they earn the money or not.
If you are born into a rich family…you may be lucky….yet history shows many family fortunes are gone by the third generation.
I began studying money when I…
— Robert Kiyosaki (@theRealKiyosaki) July 28, 2024
However, the “poor dad” character from his book, which draws inspiration from real people in Kiyosaki’s life, warned him this was ‘counterfeiting,’ telling him it was illegal and that he would go to jail if caught and efficiently putting a stop to his “toothpaste tube smelting business.”
3 Assets To Buy Instead Of Counterfeit USD
That said, Kiyosaki further pointed out that “in 1971, President Nixon took the dollar off the gold standard, and the US Treasury and Federal Reserve Bank began counterfeiting money,” referring to the USD, thus no longer supported by gold, as “fake money,” and arguing that:
“People working for ‘Fake Money’ is one of the primary reasons why the gap between rich and poor grows. Don’t be a loser. Stop working for and saving ‘Fake Money.’”
Finally, the ‘Rich Dad’ author touched upon the recent speech by former US President and current Republican presidential candidate Donald Trump, in which he endorsed Bitcoin (BTC) and silver as ‘smart money,’ calling him a “financially brilliant man,” and recommending to his followers to:
“Get smarter and save gold, silver, and Bitcoin.”
Donald Trump Bitcoin Endorsement
As a reminder, Trump was one of the keynote speakers at the Bitcoin 2024 conference in Nashville, Tennessee, where he promised to make the US the “crypto capital of the world,” which has triggered optimism and bullish sentiment in the cryptocurrency community.
It is also worth noting that, in response to his speech, the social sentiment around the flagship decentralized finance (DeFi) asset, measured in the ratio of positive to negative comments about it on social media, rose to its highest level in 16 months, as Finbold reported 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
Meanwhile, the price of Bitcoin, which comprises a significant part of Robert Kiyosaki net worth, has recorded increases as well, gaining 3.13% in the last 24 hours, accumulating an advance of 3.25% across the previous seven days, and adding up to the 13.94% growth in the past month, reaching the price of $69,520, per data on July 29.
