Author of Rich Dad Poor Dad Robert Kiyosakiexpressed concern that working-class Americans would be destroyed by rising inflation if they did not invest in a few key assets.
Speaking on The Rich Dad YouTube channel, Kiyosaki said that real capitalism was abandoned and instead the government intervened on behalf of the banks.
“The reason they talk about inflation or deflation is because in the 70s a real capitalist let a business go under. [Avusturyalı politik ekonomist Joseph] According to Schumpeter, capitalism destroys inefficient companies.
For example, not so long ago there was Blockbuster Video. Then Netflix came along and they were crushed. They just left. A true capitalist wipes out what is inefficient or obsolete.
But in recent years, since 1907, they’ve really only been bailing out banks. Banks are very corrupt and the reason the Federal Reserve came was to protect the rich bankers.
And what they did was there was quantitative easing in 2008, which is a very complex issue, but basically the FED just prints money and gives it to banks to keep them from going bankrupt. It’s not capitalism, it’s Marxism. This is socialism, this is communism. It’s just the name of central banks.”
Kiyosaki warns that printing unlimited money as part of official government policy will destroy the working class.
“The reason inflation destroys people is because the average person is a consumer. Everyone is talking about how costly everyday life is.
Because… Everything is to protect the bankers. That’s why I can understand working class people. I think it is a crime for our school system to be part of Marxism. There is no financial education in schools and that is not a mistake.
People who complain about inflation should know that the Federal Reserve, the U.S. Treasury and others are as corrupt as they come from.”
In his post on Twitter, the author stated that the recent 25% price increase at retail chain Dollar General is a major event that signals that they need to protect themselves by buying some cryptos such as Bitcoin (BTC) and Ethereum (ETH). According to the author, BTC and ETH can be an investment vehicle and a substitute for gold and silver.
The author cited data from CNN Business, citing an example of rising inflation in the US.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.