The author of best-selling personal finance series Rich Dad Poor Dad says that the US Dollar is nearing the end of its lifespan as a coalition of nations gets ready to launch a new gold-backed currency.
In a new episode of The Rich Dad Radio Show, Robert Kiyosaki says that the US Dollar will be “toast” after BRICS (Brazil, Russia, India, China, and South Africa) begins talks of launching its new currency at a conference in Johannesburg this month.
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According to Kiyosaki, the move from BRICS could be what causes the US to lose it status as the world’s reserve currency.
“One of the biggest changes in world history is happening August 22nd 2023, The BRICS nations are having a conference in Johannesburg to bring out their own gold back currency. Now, what does that mean for the US Dollar?
The U.S Dollar in 1944 became the reserve currency of the world, that means central banks throughout the world have trillions, not billions, trillions of dollars sitting in their banks because that’s what a reserve currency means – the banks of the world were supposed to hold dollars instead of gold in their [coffers], so I hope I’m wrong, I could be wrong if they adopt a gold back crypto, [but] the US dollar is toast if I’m right.”
Kiyosaki, a vocal Bitcoin bull, has said that BTC may be one of the big beneficiaries of a changing world order and the US losing its reserve currency privileges. However, he says that once big institutions join the crypto ecosystem, such as Standard Chartered Bank, the average person will begin to value and use Bitcoin.
“One of the challenges with Bitcoin is people don’t accept it, they don’t know what it means. Standard Chartered Bank, a huge Asian bank, just came out backing up Bitcoin, and they said that Bitcoin in 2023 will hit $50,000.
It’s Standard Chartered Bank, not Robert Kiyosaki, or Joe Shmoe the rag man out there, this is Standard Chartered Bank. Today it’s $30,000 [and] not only that, Standard Chartered says that Bitcoin will be $120,000 from $30,000 in 2024, I’m not saying it’s going to happen, we make no recommendations.”
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