Rich Dad, Poor Dad: Kids are brainwashed to slave for ‘fake money’

Rich Dad Poor Dad writer Robert Kiyosaki, a beardown proponent for Bitcoin, says it is “criminal” that kids are being taught from a young property to enactment for an inflationary currency portion arguing the virtues of Bitcoin. 

“Poor radical are mediocre due to the fact that they person nary thought what existent wealth is. And truthful our world system, you know, my mediocre dad, professors, they indoctrinate and they bid kids, young radical adjacent contiguous to enactment for fake money.”

“Go to school, get a job, enactment hard, prevention money, and put successful a 401(k) afloat of garbage,” Kiyosaki said during a podcast hosted by Bitcoin Collective Co-Founder Jordan Walker connected Wednesday.

Kiyosaki astatine FreedomFest successful July 2024. Source: Wikimedia Commons

Kiyosaki pulled nary punches arsenic helium lambasted cardinal banks, equating them to “criminal organizations” and adjacent calling them “Marxists,” arsenic helium says that each clip cardinal banks people money, it makes the affluent richer, portion the different economical classes suffer.

“So each clip you people money, you people this fake worldly here. Guys similar maine get richer, but the mediocre mediate people get poorer.”

According to the US Bureau of Labor Statistics’ header ostentation calculator, a idiosyncratic holding $1,000 from August, 2000 to August, 2005 has mislaid astir 47% of their purchasing powerfulness owed to header inflation.

The Federal Reserve has acceptable a people of 2% ostentation per year; however, since 2021, the bureau has not managed to get ostentation to that mark. August’s header ostentation came successful astatine 2.9%, portion halfway ostentation stood astatine 3.2%.

Meanwhile, BTC has rallied much than 900% successful the past 5 years, from astir $11.670 to astir $117,200 astatine the clip of writing, according to CoinGecko.

Robert Kiyosaki wishes helium had much than 60 Bitcoin

The American writer stated that it took him a agelong clip to recognize Bitcoin, but helium started buying Bitcoin astatine the $6,000 people and presently holds 60 BTC, worthy astir $7 million.

“And Bitcoin, erstwhile it came out, it took maine a portion to fig it out. Like I bought it astatine $6,000, and I’m inactive saying, ‘Why didn’t you bargain more, asshole?’ But today, I don’t person that many. I person astir 60 Bitcoin, you know.” Kiyosaki said.

Kiyosaki said helium present uses the proceeds from his rental properties to accumulate oil, gold, silver, Bitcoin and Ethereum.

In April, Kiyosaki predicted that Bitcoin would scope the $1 cardinal milestone by the adjacent decade.

Despite being bullish connected BTC, Kiyosaki had previously taken a contrarian view connected the asset, saying that “odds are gold, silver, and Bitcoin volition bust too,” and that’s erstwhile helium volition commencement accumulating much of these assets.

He further advised investors to beryllium cautious of ETFs, arsenic these are “paper assets” and are frankincense susceptible to a slope run; however, the American writer admitted that ETFs are the easiest mode for retail investors to put successful assets.

Countries suffering from inflation

Kiyosaki’s claims successful the podcast person immoderate merit. Inflation, particularly hyperinflation, erodes the purchasing powerfulness of mean people.

Interestingly, radical successful nations wherever ostentation is eating distant astatine their hard-earned wealth progressively crook to crypto to support themselves financially.

Related: Bitcoin’s relation arsenic an ostentation hedge depends connected wherever 1 lives — Analyst 

The radical of Venezuela person begun utilizing stablecoins, particularly Tether (USDT), arsenic portion of their regular life, arsenic the annual ostentation complaint touched 229%.

At the commencement of the year, 1 US dollar could beryllium traded for 51.95 Venezuelan Bolívar. Today, the aforesaid dollar tin bargain 161.74 Venezuelan Bolívar, according to overseas speech processor Xe.

Meanwhile, the Bitcoin Standard writer Saifedean Ammous has stated that investors volition flock towards the US dollar and Bitcoin, arsenic helium expects the Argentine peso’s devaluation volition origin radical to dump the currency and the country’s bonds.

Real Vision co-founder and CEO Raoul Pal has besides called connected investors to clasp much crypto and NFTs to protect themselves from exponential currency debasement.

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