Rich Dad Poor Dad author Robert Kiyosaki has issued a cautionary statement regarding the possible downfall of the U.S. dollar in the event of the BRICS economic bloc launching a gold-backed cryptocurrency. Kiyosaki predicts a scenario where trillions of U.S. dollars flood back into the country, leading to hyperinflation and the eventual collapse of the U.S. dollar.
Robert Kiyosaki on BRICS Crypto, US Dollar
The author of Rich Dad Poor Dad, Robert Kiyosaki, has issued a grave warning regarding the collapse of the U.S. dollar, citing concerns about the BRICS economic bloc potentially developing a cryptocurrency backed by gold. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
He wrote on X Sunday: “Currently in South Africa a country I love. Watching and listening to rumors of what will happen when BRICS nations, Brazil, Russia, India, China, South Africa produce BRICS crypto, possibly backed by gold.” The famous author added:
If BRICS gold crypto happens, trillions in fake money, fiat U.S. dollars will come rushing back to home to America causing hyperinflation in America, ultimately destroying U.S. dollar.
The esteemed author proceeded to recommend his usual blend of investments, advising: “Best buy real gold, silver, and bitcoin now, and protect yourself from the crash of U.S. dollar.”
Last year, speculation emerged suggesting that the BRICS economic group might establish a common currency backed by gold. Although initially expected to be a topic of discussion at the BRICS leaders’ summit in August, the focus shifted to promoting the use of local currencies in trade settlements, aiming to decrease dependence on the U.S. dollar. Presently, discussions regarding a common BRICS currency have diminished, with projections indicating a prolonged timeline for its realization.
Additionally, the economic coalition extended invitations to five new nations at the leaders’ summit. New BRICS members are Saudi Arabia, the United Arab Emirates (UAE), Iran, Egypt, and Ethiopia.
Meanwhile, Kiyosaki has consistently sounded alarms about the downfall of the U.S. dollar. In March, he urged investors to ditch the USD for bitcoin, gold, and silver. He views BTC as the “perfect asset at the right time.”
Source: Bitcoin
