Writer Robert Kiyosaki, author of Rich Dad Poor Dad, warns of economic chaos, the outbreak of war, hyperinflation, and a growing famine. Commenting on “widespread” de-dollarization, he stressed: “It’s a weaponization of the US dollar against the world… It’s all declining rapidly at the moment.”
Robert Kiyosaki on de-dollarization on a “colossal scale”
Rich Dad Poor Dad author Robert Kiyosaki is back with even more dire predictions about the American economy, the dollar, and global economic chaos. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lichter. It has been on the New York Times Best Seller list for over six years. More than 32 million copies of the book have been sold in more than 51 languages in more than 109 countries.
During his Rich Dad radio show, which aired last week, Kiyosaki discussed de-dollarization with Andy Shechtman, CEO of Miles Franklin Precious Metals Investments.
Sheketman began by highlighting recent events that led to what he described as “large-scale de-dollarization”, including the meeting between French President Emmanuel Macron and Chinese President Xi Jinping. “When our allies are broken, it will speed things up, I think, tremendously,” he stressed.
Kiyosaki agreed, saying:
It’s weaponizing the US dollar against the world and the world is pissed off about it now… It’s all going down fast right now. It’s going faster and faster.
The two proceeded to discuss the catalysts for the rising trend of dollarization around the world. Among them is Saudi Arabia’s entry into trade alliances with China, Russia, India and Pakistan to move away from dependence on the US dollar and China’s settlement of its deals with Brazil in local currencies. They also pointed to the efforts of the BRICS countries to de-dollarize and the possibility of the economic bloc launching a new currency. Many countries, such as Indonesia, are also following the BRICS example and shifting away from the US dollar for trade settlements. The BRICS countries are Brazil, Russia, India, China and South Africa.
Gresham’s Law and Triffin’s Dilemma “Violated”
“There are two fundamental laws that are being broken,” explained the author of Rich Dad Poor Dad. “When Nixon, in ’71, removed the dollar from the gold standard, what happened was he violated Gresham’s Law, and Gresham’s Law says when bad money gets into a system, good money goes away.”
Kiyosaki continued: “The second law is the Triffin dilemma and it happened in 1944. What happened in 1944 at the Bretton Woods Agreement in New Hampshire is the world said we agree the world will trade in US dollars…but now the Bretton Woods agreement is falling apart.” .
The famous author added, “The Triffin dilemma meant that the United States had to provide dollars to every central bank around the world, so we had to print maybe quadrillions of dollars.” However, he stressed that when the BRICS countries rally against “the bully in the stadium, the United States,” they say: “Take back your dollars.” Then Kiyosaki warned:
When those dollars come back to America, we have something called hyperinflation, and every time there is hyperinflation, guess what, dictators show up and when tyrants arise, the killing begins.
“You’re going to wake up Monday morning and be: ‘Oh my God, what just happened,’” Sheketman shared. “Because in the middle of the night, while we were all asleep, all the OPEC members who are all in Belt and Road Initiative, They will stand side by side and say: “We have decided … we will take the yuan until the new BRICS comes out.” Whatever they say, these dollars will start flowing into the house before we can wake up and we will wake up to higher interest rates…and the whole system is a mess.”
Citing a video of Bridgewater Associates founder Ray Dalio explaining “world order change,” Kiyosaki stressed:
In the midst of all this chaos… The dollar will come back by trillions – hyperinflation, war breaks out, famine increases… I hate to say this, and I hope I’m wrong, it’s the end of the American Empire. It happens all the time and it never happens peacefully.
Meanwhile, Kiyosaki plans to buy more gold. On Monday he tweeted: “Gold is crashing. Steve Van Meter, whom I respect, expects gold to crash to $1,000. He states that the markets are tired of waiting for gold to go up. If gold goes down to $1,000, I will buy more. I am an investor, not a trader. For me Gold, silver and bitcoin are real money. To me, cash is rubbish.”
What do you think of the warning given to writer Robert Kiyosaki by Rich Dad Poor Dad? Let us know in the comments section below.
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