Robert Kiyosaki, the author of the popular book “Rich Dad Poor Dad,” talked about the death of the U.S. dollar and how one should take the government’s free money and buy bitcoin. The best-selling author also explained the cost of free money.
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Take Free Government Money and Buy Bitcoin
The author of Rich Dad Poor Dad has chimed in on the impact of the free money the U.S. government is giving to small business owners on the U.S. dollar. From his Twitter account with over 1.3 million followers, he wrote on Saturday: “Death of dollar. People desperate for money. Very sad. If [the] government gives you free money, take it yet spend it wisely. Do not save. Buy gold, silver, bitcoin. Dollar is dying.”
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. Over 32 million copies of the book have been sold in over 51 languages across more than 109 countries. It was on the New York Times Best Seller List for over six years. The book teaches the importance of financial literacy, financial independence and building wealth through various methods, such as investing in real estate and owning your own business.
This is not the first time Kiyosaki has advocated for bitcoin. In August 2018, he proclaimed that “The US dollar is a scam,” adding that “the dollar is toast because gold and silver and cybercurrency are going to take it out.” The best-selling author was also quoted as saying: “The US Dollar is gone … In the year 2000 there was one currency, the US Dollar. It was called the reserve currency of the world … and then came bitcoin or cybercurrency.”
The Cost of Free Money
Kiyosaki’s tweet advocating for bitcoin on Saturday was one in a series responding to the U.S. government’s Paycheck Protection Program (PPP), which promises $350 billion to small businesses affected by the coronavirus pandemic. “Small biz entrepreneurs offered payroll for employees for free,” he tweeted on Thursday, a day before the program was expected to go live. “Example. If company payroll for 8 weeks [totals] $1 million, banks will give [a] $1 million loan. Don’t have to pay back. Entrepreneurs win again. Socialism for rich.”
While emphasizing that most people want free money, even himself, Kiyosaki questioned, “What is the price of free money?” Assuming the role of a financial literacy teacher once again, Kiyosaki asked his Twitter followers how free money could destroy the U.S. dollar. He explained that by definition, “Money is an idea backed by confidence representing work truly done and is exchangeable.” The Rich Dad Poor Dad author concluded: “Paying people not to work destroys confidence in government $ and [the] exchange of $. Trust gold and silver-gods money [and] crypto-peoples money.”
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