Robert Kiyosaki, the author of the best-selling book “Rich Dad Poor Dad,” talks about crypto and how they have become a safer haven than fiat due to the war. He also talked about the end of the US Dollar as it is slowly becoming less of a superpower. The most important thing is the Russia-Ukraine war which is bound to change a lot of things.
Robert Kiyosaki on crypto
The recent war has resulted in turmoil in the Russian economy. The value of the Ruble has collapsed, and this shows that there is no point in trusting fiat currencies. Therefore, crypto is being proven to be a safer haven than fiat. While on the one hand, it is being helpful to Ukraine to raise funds for the war. For Russian citizens, it is their lifeline to preserve the value of their money.
At this point, around 13% of Ukrainian citizens own crypto, while it is around 12% for Russia. This is just the start, though, as inflation is coming, and Robert believes that the Biden government and Federal Reserve want to use inflation to pay off Trillions in debt.
He also warned earlier that the government would seize all cryptocurrencies, and there would ultimately be only one government crypto. However, this statement was made before the executive order of the US. And when the EO was found to be positive for crypto, Robert was criticized on social media. Many argued that decentralized cryptocurrencies could not be seized, especially if they are in self-custody.
The end of the US Dollar
The US Dollar is considered to be a global currency, but a recent event shows that the US is losing power. Saudi Arabia has agreed to sell China oil and trade in Yuan, which shows that the dependency on the USD is fading. If they continue to print money and weaken the dollar, there is nothing else that can be done. An international currency is supposed to be neutral, but the rules are being bent in Washington, which makes it the end for USD.
What are your thoughts as Robert Kiyosaki talks about crypto becoming a safer haven than fiat? And do you think that the end of USD has started with the China and Saudi Arabia trade? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.