As Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ continues to warn about the upcoming recession, he has also compared the United States dollar to a balloon that is coming down and which the government is trying to “pump back up.”
Indeed, Kiyosaki was discussing the current economic landscape, criticizing the financial and educational system in the US as “communist” and “criminal,” as well as its fiat currency as worthless and trash, while touting gold, silver, and Bitcoin (BTC) in an interview with Brian Rose for his London Real podcast episode shared on May 30.
On money education
According to the finance educator:
“Our money system is so [expletive] up, and we still don’t teach anything about money. I can’t believe it. (…) We better start transforming, not just getting educated.”
In Kiyosaki’s view, this transformation includes going beyond “just going to school and getting a job” as “you cannot just give somebody money or send them to school,” which he believes does not teach enough about finance and economics, which is why “poor people don’t know the difference between real money and fake money.”
“Our school system has taught us to work for fake money – go to school, get a job, work hard, save money, get out of debt, and invest in the stock market. (…) I’m so disturbed by what’s happening in our school systems. (…) You just don’t take a poor person and give them money. (…) What I’m saying is, we’ve got to start transforming.”
Pumping the balloon
As he pointed out, the government “blew the economy into this huge bubble. (…) You see that balloon hanging back there, that’s the balloon that the Federal Reserve and the Bank of England blow in the economy, and that little gondola there is us hanging beneath this balloon, so it’s been pumping all this fake money into the system (…), and we’ve actually been in a depression since 2007.
“And instead of letting the thing crash, they kept pumping money and interest rates going down, interest rates going up, and all this. But now the balloon is deflated, so there it is, that balloon is coming down, and they’re trying to pump it back up again by printing all the stuff they do.”
As an alternative, Kiyosaki has long advocated investing in gold, silver, and Bitcoin, which he prefers to fiat money and stocks because they are not printable. He has particularly praised the flagship decentralized finance (DeFi) asset as “people’s money,” as well as expressed his belief that it might climb to $100,000 sometime in the future.
Watch the entire video below: