Robert Kiyosaki, the renowned author of ‘Rich Dad Poor Dad’ and financial expert, has issued a cautionary statement suggesting that the emergence of a ‘BRICS gold cryptocurrency’ could potentially dethrone the US dollar from its position as the primary global reserve currency.
While in South Africa, Kiyosaki shared his thoughts on social media, speculating that the creation of a new reserve currency by the BRICS nations—Brazil, Russia, India, China, and South Africa—could have a profound impact on the traditional US dollar. He posited that such a move might lead to hyperinflation in the United States and the eventual downfall of the dollar.
Kiyosaki expressed his affection for South Africa and voiced concerns over the potential repercussions of a BRICS-backed gold cryptocurrency. He warned that the introduction of such a currency could result in a flood of fiat US dollars returning to America, triggering hyperinflation and the collapse of the dollar. He advised purchasing tangible assets like gold, silver, and Bitcoin to safeguard against the potential crash of the US dollar.
In his recent statements, Kiyosaki has intensified his dire forecasts, suggesting that the decline of the US dollar is already underway and worsening. He has recommended that his followers protect their wealth by investing in alternative assets like gold, silver, and Bitcoin to insulate themselves from the negative effects of the dollar’s fall.
Kiyosaki also offered strategic guidance for navigating economic downturns, emphasizing the importance of caution and deliberate action.
Guidelines to Remember During an Economic Downturn:
- Avoid Hasty Investments: Do not be tempted by falling prices; avoid impulsiveness. Wait until the market stabilizes and there is little interest in the asset you desire.
- Educate Yourself: Utilize resources like YouTube to learn from both credible and questionable educators. Dedicate time to understand the perspectives of various teachers.
- Cultivate Positive Relationships: Connect with individuals who share your journey. Distance yourself from those who blame others for their setbacks and from those who rely on governmental solutions for personal challenges.
- Pursue Entrepreneurship: In the face of job displacement by artificial intelligence, consider starting a small business to become an entrepreneur rather than remaining an employee vulnerable to job loss.
- Select Quality Mentors: With a plethora of educators available on YouTube, choose wisely. Kiyosaki recommends his own mentors, including Ken McElroy for real estate, Tom Wheelwright for taxes, John MacGregor for stocks, and Mike Maucelli for oil. They offer books and podcasts. Be discerning about who influences your mindset and spirit.
- Invest in Stable Assets: Traditional currencies like the US dollar, Euro, Yen, and Peso may lose value. Instead, save assets that appreciate in value, such as gold, silver, Bitcoin, and other reliable forms of wealth, particularly during market downturns.
Kiyosaki concludes with a message of resilience, encouraging individuals to turn the economic crisis into a positive turning point in their lives.
Source: Business Insider
