Posted on 03/22/2021 9:12:43 AM PDT by aMorePerfectUnion
Rich Dad Poor Dad author Robert Kiyosaki says he is racing to buy Bitcoin, Ethereum, and precious metals as the economy weakens.
In a new Rich Dad Radio Show podcast episode, the best-selling author and entrepreneur says that while he does not wish to argue over which store of value asset is superior, he is currently scrambling to own as much BTC, ETH and gold as he can.
“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’ Just get as much as you can right now because the government is screwed.
We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”
Last year, Kiyosaki predicted Bitcoin would break the $50,000 level in 2021. He said that this bet wasn’t necessarily based on the strength of Bitcoin, but in the weakness of the US economy and government.
“I’m not judging Bitcoin. I’m judging the stupidity of our government. Being a real estate guy when I look at how much debt is going to default, the question is, when all those office buildings around San Francisco can’t pay their rent, who’s going to bail them out? That’s why I put my $50,000 bet. It was a bet against the economy. It wasn’t a bet on Bitcoin. And I’m betting [the Federal Reserve] is going to print [more money] and if they don’t print we’re screwed anyway.
The question is where do you put your money? I started off years ago saying, ‘Cash is trash,’ and it is becoming trash. The more artificial intelligence and technology make things more efficient prices should keep coming down but the Fed keeps pumping it up… Lesson number one in Rich Dad Poor Dad is the rich don’t work for money, because the moment you do that you’re screwed. It’s coming true right now and it really deeply concerns me.”
“ Everything else can be stolen or confiscated by the government.
Agree.
That’s the point of the article.
Please add me to your list, also - thanks!
I will definitely add you 😎
Back in the Carter inflation (mild compared to what's coming) one of the economists used this analogy: "The Ship of State is adrift in a sea of fiat currency and the Fed is using the rudder as a paddle."
Seems to apply even more so today.
And he’s going to continue hawking gold and silver and maybe even selling you another book........LOL!
yes
“when the power comes back on, your bitcoin will still be there. Your bank account, maybe not.”
Will it? What superpower does Bitcoin have that banks don’t re: grid-down resiliency? You realize Bitcoin only exists insofar as someone else can vouch for your coin on the blockchain, right?
You’re in Dude!
I assume a First Class seat is your preference…?
Yes, of course.
Window Seating w/View of Mining Rig Farm Room:)
Done! We are also giving you a free year of Crypto Premier Club.
You board first, no stupid masks required, and unlimited crypto trades!
Maybe I read an older version of is books but he mentioned nothing of even requiring back up funds and went straight to “get lots of loans and debt, and throw in renters.”
Sounds great and super easy. Until..... No more evictions are allowed thanks to “covid.” The “no document” loans are gone. And the democrats are introducing bills that basically take over the rental market.
Like I said. Maybe I had an old revision before the sub prime crash when everyone thought they’d “get rich quick” through real estate.
We are in complete agreement that our government is completely stupid. Even though PMs have a horrible record I’m buying everything I can whole keeping my buffer of ‘cash’ to pay the bills. As a self employed business owner cash is still king and gets results. Every investment I have ever made, except one, has been a failure thanks to government interference. They still haven’t figured out how to legislate away my skills and education. But they’re working on it and they did their best to shut me down with kung flu lock downs.
Ah yes, soon I’ll be in the 12-mile high club because the Sky’s the Limit for Bitcoin, and Etherum.
Exactly ecoins are useless certain areas can be turned off the net can be partitioned digital currency’s can cause governments to completely avoid their use their junk there a joke.. They were good to make money off of when things are solid and stable and they sucked up a whole Lotta QE making the government happy up till now
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