With three major US banks having gone under in a short period of time, Robert Kiyosaki has issued a warning about government bailouts and recommended using Bitcoin (BTC) as an alternative. The author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ made the prediction that “more fake money” would “invade the ailing economy” as the bailouts start, according to a Twitter post published on March 13.
Kiyosaki has been vocal in his criticism of fiat currencies such as the US Dollar, dubbing them “fake money” and claiming it will lead to the “end of the American Empire.” He has now urged the public to purchase more Bitcoin, gold, and silver as an alternative, adding to his prior warnings of an impending “crash landing.”
Treasury Secretary Janet Yellen has voiced the opinion that a federal bailout for the victims of the collapses would not be feasible, citing the reforms implemented after the last financial crisis. However, she has also made it clear that the government is concerned about the affected depositors and is taking steps to help them out.
Foreboding Predictions
In late January, Kiyosaki made grim predictions of a “rough landing” for the world due to “bad news, bankruptcy, unemployment, homelessness,” and the growing retirement crisis. He then recommended gold, silver, and Bitcoin as the alternative, claiming he expected the crypto asset to attain a price of $500,000 by 2025. Kiyosaki has also warned of the starvation and social unrest that could follow this financial crash and the resulting inflation that could “wipe out 50% of the US population,” as Finbold reported in April 2022.
Featured image via Ben Shapiro’s YouTube.
