Rich Dad Poor Dad author Robert Kiyosaki is issuing a dire warning to Americans, saying that the country is likely to witness one crisis after another as BRICS nations send their dollars back to the US.
In a new video on The Rich Dad Channel, Kiyosaki tells his 3.1 million subscribers that the US is now at risk of suffering hyperinflation, war and starvation as other major economic powers come together to defy the supremacy of the US dollar as the world’s reserve currency.
According to Kiyosaki, BRICS – which is made up of Brazil, Russia, India, China and South Africa – poses a major threat to the stability of American society as the alliance of nations could trigger hyperinflation by sending their massive dollar reserves back to the United States.
BRICS is reportedly in the early stages of developing a precious metal-pegged currency that does not utilize US dollars.
“Triffin’s dilemma meant that the US had to supply dollars to every central bank throughout the world. So we had to print probably quadrillions of dollars. And what happens is when the playground bully, the US, and the BRICS nations gang up against the bully, they say, ‘Take your dollars back.’
And when those dollars come roaring back into America, we have a thing called hyperinflation. And every time there’s hyperinflation, guess what happens? Dictators arise.”
The Triffin dilemma suggests that the issuer of the global reserve currency faces the challenge of running an oversupply of its own currency as the country provides liquidity to the rest of the world.
Kiyosaki says that hyperinflation is just the tip of the iceberg should BRICS nations completely abandon the US dollar. He also predicts military conflict will contribute to a new American struggle to access the most basic needs.
“Out of all this chaos, and the dollar going bad, the dollar’s going to come back in trillions. Hyperinflation, war breaks out, starvation increases.”
The best-selling author also warns that other countries are beginning to realize the the US dollar cannot be trusted.
“Ladies and gentlemen, if you don’t trust your money, that’s the problem. And the world is now waking up, that they don’t trust the money, but worst of all, Triffin dilemma’s going kick in, and trillions of dollars will come washing back on our shore. And you’re going to see hyperinflation like you’ve never seen before.”
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