The United States is approaching disaster with its increasing national debt, according to well-known author Robert Kiyosaki. Kiyosaki ma...
The United States is approaching disaster with its increasing national debt, according to well-known author Robert Kiyosaki.
Kiyosaki made the statement during a guest appearance in a recent episode of the "Decentralize TV" show hosted by Mike Adams and Todd Pitner on the Brighteon.com channel.
Adams kicked off the discussion with Kiyosaki by asking the author of the number one personal finance book "Rich Dad Poor Dad" about his concerns with the fiat currency and an overview of where he thinks America is standing at the moment.
Kiyosaki recalled that when former President Richard Nixon took the dollar off the gold standard in 1971 it meant the dollar become fake money, or fiat currency.
He added that throughout history, no fiat currency has ever survived, and it has brought down the Chinese Empire, the Roman Empire and the Greek Empire.
The entrepreneur, educator and investor said since the dollar was taken off the gold standard people have seen changes around the world.
He also took note that whenever the government gets into trouble, they would just start printing more money.
Kiyosaki mentioned the government recently raised the debt ceiling again and the U.S. credit rating was downgraded from AAA to AA+ by the Fitch Ratings services.
He pointed out the average American has no idea what it means because they have no financial education coming from schools which Kiyosaki said is a concern for him and the reason why he writes and speaks about the importance of financial education.
Kiyosaki added that when Treasury Secretary Janet Yellen took the ceiling cap off of the U.S. debt, America's debt increased by $1.8 trillion in two months.
He cited that it took America 209 months after Nixon to get to $1.8 trillion in debt, but it is now being done every two months which Kiyosaki said is not sustainable.
"We're on a collision course for disaster or we become the Weimar Republic that brought [Nazi dictator Adolf] Hitler to power, or the Chinese government when they started printing the first paper [money]... So, we're on a collision course for disaster," Kiyosaki said.
Kiyosaki noted that the first act President Joe Biden did when he took office was cancel the Keystone XL pipeline.
Price of oil went from $30 to $130 a barrel when Biden cut the Keystone XL pipeline
He added the moment Biden cut the Keystone XL pipeline the price of oil went from $30 to $130 a barrel and the financial author said what Biden was doing was to crush the poor and middle class and drive the American people to the verge of revolution.
Adams commented the middle class has been completely wiped out and people who have assets are now very concerned about the collapsing value of the dollar as well as the failure of the banking system.
Kiyosaki said he thinks it is going to get worse with the Wall Street 'criminals' robbing the assets from pensions of Americans.
He added that when his generation finds out they have no money the government is going to print more money which would lead to inflation going up again.
"So why would you save money? Why would you invest in stocks, bonds or mutual funds? Personally, I don't trust anything you can print. I want hard assets," Kiyosaki said.
Adams agreed and he said the "Decentralize TV" show recognizes the facts of gold, silver and cryptocurrency.
The founder of Brighteon.com and NaturalNews.com pointed out that crypto is an honest ledger while gold and silver have inherent intrinsic value that outlasts the fall of a civilization throughout history.
He also stated these asset classes have value and Adams asked Kiyosaki why they all came to the same conclusion.
Kiyosaki replied that they are the guys who are off the grid, and he cited crypto and Bitcoin are off the grid, which is what he likes.
He added it is blockchain technology that has integrity, unlike the Federal Reserve, the Treasury, Biden and Wall Street which doesn't have integrity.
"So, I want something you cannot print. And that's why I like gold, silver, Bitcoin. Simple," Kiyosaki said.
Adams stressed that people need to put their money into things that matter so that they will have a future.
Kiyosaki mentioned that he doesn't save money, but he saves silver and gold.
The financial educator added he uses debt to invest and Kiyosaki lamented that people are so indoctrinated into working, saving and investing for more paper money which makes no sense to him.
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