As the warnings mount of the possible recession in the United States, the prominent investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has made a bleak prediction about the future of fiat money after the next BRICS meeting in August.
Specifically, Kiyosaki warned that the next summit of the BRICS nations (Brazil, Russia, India, China, and South Africa), which will begin on August 22, 2023, in Johannesburg, South Africa, would signal the end of fiat currency, as he said in a tweet shared on July 13.
Furthermore, the financial educator has recommended investing in gold, silver, and the flagship cryptocurrency, Bitcoin (BTC), as a way to protect oneself from the fallout of the incoming giant crash he believes will “put (the) nail in (the) coffin of fiat money.”
End of fiat is nigh?
Earlier, Kiyosaki voiced his opinion that the BRICS heads of state would “announce gold-backed crypto” at the announced meeting in South Africa, referring to the report by the Russian English news channel RT that the coalition would introduce a new gold-backed trading currency to replace the US dollar.
As a result, he said that the fiat currency in the US “will die” as “trillions of US $ rush home” and bring “inflation through the roof.” On the other hand, he believes that Bitcoin, which he advocates investing in, will reach the price level of $120,000 next year – a prediction in line with that of Standard Chartered Bank.
On top of that, Kiyosaki has warned that the US economy was on the “Eve of Destruction,” alluding to the popular song from the 1960s, repeating his distrust of the country’s leadership and criticizing the central bank for continuing to print more money, as Finbold reported on July 6.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Featured image via Cavaleria Com YouTube
