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On Saturday (28 January 2022), Robert Kiyosaki, the highly successful author of the “Rich Dad Poor Dad” series of personal finance books, shared his thoughts on how people should deal with the “global recession” he believes we are in at the moment.
“Rich Dad Poor Dad, “which is one of the top 10 personal finance books of all time, “advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one’s financial intelligence (financial IQ) to improve one’s business and financial aptitude.”
At various times during the past three years, Kiyosaki has been criticizing the Federal Reserve’s response to the resulting economic fallout and strongly urging his large following on social media platforms to protect themselves from what he feels is inevitable high inflation (and possibly hyperinflation) in the future by using their fiat holdings to buy silver, gold, and Bitcoin.
Episode #263 of Anthony Pompliano’s “Pomp Podcast”, which was released on 7 April 2021, featured an interview with Kiyosaki.
During that interview, Pompliano asked Kiyosaki’s thoughts on “traditional inflation hedge” assets.
Kiyosaki said:
“Gold and silver are God’s money. Bitcoin is open source people’s money.“
On 11 November 2022, he said that he is not worried about the fall in the price of Bitcoin since he is an investor rather than a trader and that if the $BTC price even gets to as low as $10,000, rather than getting worried, he would get excited (presumably since he wants to buy even more $BTC to hold for the long term):
BITCOIN? WORRIED? No. I am a Bitcoin investor as I am an investor in physical gold, silver, & real estate. I am NOT A TRADER or flipper. When BITCOIN hits new bottom, $10 to $12 k? I will get EXCITED, not worried. I bet against the Fed,Treasury, Biden, & bet on G,S, & Bitcoin.
— Robert Kiyosaki (@theRealKiyosaki) November 11, 2022
On 30 December 2022, Kiyosaki told his 2.3 million followers that he is bullish on Bitcoin because unlike most other cryptoassets it is a commodity and therefore not impacted by future actions of the U.S. Securities and Exchange Commission (“SEC”):
Q: Are you investing in Bitcoin?
— Robert Kiyosaki (@theRealKiyosaki) December 31, 2022
A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC
On 14 January 2023, Kiyosaki called Bitcoin’s latest price rise “good news for those that know inflation is permanent.”
Bitcoin, Gold, Silver, and oil moving up in price. Good news for those that know inflation is permanent…now systemic…not transitory. Bad news for the uninformed, poor, middle class… anyone who believes Biden cares about them and their families. Biden does not care about you.
— Robert Kiyosaki (@theRealKiyosaki) January 14, 2023
Anyway, this past Saturday (28 January 2023), the highly popular author and successful investor called Bitcoin “priceless” in the current macro environment:
Q: WHATIS WORSE THAN A GREAT DEPRESSION? A: a global recession. UNFORTUNATELY we are in GLOBAL RECESSION. Hang on. Rough landing for world. BAD NEWS Bankruptcy, Unemployment, Homelessness soar. Retirements toast. GOOD NEWS. Bargains everywhere. Gold, Silver, BC PRICELESS.
— Robert Kiyosaki (@theRealKiyosaki) January 28, 2023
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