Amidst the strong performance of the stock and crypto market, Robert Kiyosaki, the acclaimed investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has decided to share some ominous what-if scenarios for dollar and hyperinflation.
More precisely, he pointed his finger at the White House, Federal Reserve, and Treasury and asked what if, instead of deflation, we had a case of hyperinflation and dollar crash due to their mistakes in his latest post on X on January 11.
He said that is why he bought five more Bitcoin (BTC) on the same day as a failsafe mechanism.
Just recently, Kiyosaki blamed U.S. President Joe Biden, Secretary of Treasury Janet Yellen, and Federal Reserve Chairman Jerome Powell for driving the U.S. toward depression and war.
He also advised investors to allocate their funds to gold, silver, and Bitcoin, which are resilient during turmoil and inflation.
Hyperinflation in the U.S.?
Just recently, the FED announced that the interest rates will remain unchanged and hinted at the possibility of multiple rate cuts in 2024, something that is not done when a country is suffering a high level of inflation.
Moreover, the level of inflation is currently set at 3.14%, far below the 50% threshold, which is a limit above which inflation is upgraded to hyperinflation.
As for the crash of the United States Dollar, it is essential to note that this event may occur in the case when there is no more backing by the gold reserve or in the case of circumvention by the traders, which is currently far from the truth, as almost half of the world transactions are conducted by using it.
