Rich Dad, a strong proposal for bitcoin, poor father writer Robert Kyosaki says it is “criminal” that children are being taught from an early age to work for inflation currency while arguing on the properties of bitcoin.
“Poor people are poor because they do not know what real money is. And so our educational system, you know, my poor father, professor, they inspire and they train children, youth, still even today to work for fake money.”
“Go to school, work, work hard, save money, save money, save money, save money, save money, save money, save money, save money, save money, save money, save money, save money, save money, money, save money, save money and garbage filled with garbage.”
Kiyosaki did not draw any punches because he lashed out by central banks, equal to “criminal outfits” and even called him “Marxist”, as he says that every time the central bank prints money, it makes rich rich, while other economic classes are suffering.
“So every time you print money, you print this fake goods here. People like me become rich, but the poor middle class becomes poor.”
According to the US Bureau of Labor Statistics headline inflation calculator, a person having $ 1,000 from August 2000 to August 2005 has lost about 47% of his purchasing power due to headline inflation.
The Federal Reserve has set a target of 2% inflation per year; However, since 2021, the agency has not succeeded in getting inflation until that mark. August’s headline inflation was 2.9%, while core inflation was 3.2%.
Meanwhile, BTC has held more than 900% rallies in the last five years, which according to Koingco, has been from $ 11.670 to about $ 117,200 at the time of writing.
Robert Kyosaki wishes that he had more than 60 bitcoins
The American writer said it took him a long time to understand bitcoin, but he started buying bitcoins at a point of $ 6,000 and currently 60 BTC, is priced at $ 7 million.
“And bitcoin, when it came out, took me a little time to find out. Like I bought it at $ 6,000, and I am still saying, ‘Why didn’t you buy more, donkeys?” But today, I do not have a lot. Kiyosaki said.
Kiyosaki said that he now uses income from his rental properties to accumulate oil, gold, silver, bitcoin and atherium.
In April, Kiyosaki predicted that Bitcoin would reach $ 1 million miles by the next decade.
Despite being rapid on BTC, Kyosaki had earlier taken a contradictory view on the property, saying that “Auds would also bust gold, silver and bitcoin,” and when he will start accumulating these assets more.
He further advised investors to be careful with ETF, as they are “paper assets” and thus are unsafe for bank runs; However, the American writer admitted that ETF is the easiest way for retail investors to invest in property.
Country suffering from inflation
There is some merit in the claims of Kyosaki in the podcast. Inflation, especially hyperflination, eradicate the purchasing power of ordinary people.
Interestingly, people in nations where inflation is removing the money earned by their hard work, is fast turning to Crypto so that you can be saved financially.
Connected: The role of bitcoin in the form of a inflation rescue depends on that one remains – analyzer
The people of Venezuela have begun using Stabelines, especially Titu (USDT) as part of their daily life, as the annual inflation rate touched 229%.
At the beginning of the year, an US dollar can be traded for 51.95 Venezuela’s Bolwar. Today, according to the same dollar Forex Processor XE, 161.74 Venezuela Bolvar can buy.
Meanwhile, bitcoin standard writer Saifedion Ammas has said that investors will flock to US dollars and bitcoins, as they hope that the devaluation of Argentina Peso will cause people to dump currency and country bonds.
Real Vision co-founder and CEO Raul Pal has also called for investors to have more crypto and NFT to protect themselves from the debate of the exponential currency.
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