American entrepreneur and businessman Robert Kiyosaki is a vocal opponent of the Biden Administration’s policies. During an interview on the Finance with Sharan podcast, he said, “America is going to be the poorest country in the world, starting now.”
Kiyosaki, the author of “Rich Dad Poor Dad,” did the podcast interview while he was in India for Growth Summit India 2023 in September. He explained his visit to Mumbai while on this trip, saying, “I always go to slums. So this time, I went to the slums of Mumbai. And I’m looking at, talking to people. But what shocks most people is America never had slums like that. Today slums are everywhere across America.”
“The slums of Mumbai are spreading across America,” he added.
In the hour-long podcast interview, Kiyosaki discussed a variety of topics, including the importance of his three favorite investments. He also spoke on broader topics such as the changing dynamics of global finance and the U.S. dollar’s position as a global reserve currency.
Bearish Views On The Dollar
Kiyosaki has often equated the U.S. dollar to toilet paper and referred to fiat currency as fake. While explaining his position on fiat money, he said, “Everybody who works for dollars, yen, pesos, rupee — this is fake. Stupid people work for this stuff.”
Elucidating on how he views wealth, Kiyosaki referred to gold as God’s money, Bitcoin as people’s money and the fiat dollar as fake money.
“The only way [the fiat dollar] is created is, somebody has to borrow money,” he said.
Expecting a recession? This is where to put your money for the greatest upside.
The 60/40 strategy isn’t going to cut it any longer, which is why major firms like Blackrock are adding these assets to their portfolios to boost returns.
Kiyosaki’s Favorite Investments
Kiyosaki claimed to hold about 60 Bitcoins but warned crypto enthusiasts that “you are messing with the federal government.” Instead, he has been a strong advocate for investing in physical and tangible assets such as gold and silver, which is as liquid as gold and the closest substitute.
While fiat money can be produced in unlimited quantities, precious metals have an inherent scarcity, making them a valuable hedge against inflation.
Kiyosaki prefers physical gold and…