Robert Kiyosaki: Cryptocurrencies Will Displace Fiat Money
Robert Kiyosaki, an American businessman known for his bestseller Rich Dad Poor Dad, called the US national currency counterfeit, supported with nothing, and expressed the opinion that digital assets and precious metals will replace this currency as more wealthy of capital, Live Bitcoin News reports.
According to the author, the US dollar represents a big deception, because the government is capable to issue an unlimited amount of money, which irreversibly leads to inflation. After the President Richard Nixon abolished dollar support with a gold reserve in 1971, this currency became a bubble, and this can negatively affect the US economy.
Robert Kiyosaki (Source: https://www.facebook.com/RobertKiyosaki/)
Kiyosaki brings up alternative ways to change the current situation, which is based on his theory of three assets' types: money from the government, from God, and from people. The first kind includes national fiat currencies, the second one is natural noble metals, and the money of people, according to the author, are cryptos. He compared the valuable assets of God and people with a toaster that will push the dollar out of the global financial system like hot toasts.
The US dollar, according to Kiyosaki, has become the largest scam in the history of mankind, which will witness its collapse in the nearest future.
A number of experts agree with such an opinion as they believe that the probability that humanity will refuse fiat funds is rather high. At the same time, the number of states that make attempts to develop and implement national cryptocurrencies in one form or another is increasing.