Fifty years ago, on August 15, 1971, President Richard Nixon announced an economic plan that severed the US dollar’s ties to gold. dollar-to-gold convertibility. Since then, the world monetary system has consisted mainly of free-floating currencies.
The era of the gold standard was where the economy prospered most, due to the fact that government-controlled money was pegged to a precious and scarce metal.
Since that backing was removed, the fiat money printed by governments has no backing whatsoever and is based entirely on people’s trust in their own governments.
Talking about the subject, Robert Kiyosaki, the author of the book ‘Rich Dad, Poor Dad’, said that “the dollar became FAKE MONEY”, fake money, in translation – he claims that saving fake money is for idiots, so he keeps buying “real” money like gold, silver and bitcoin.
This Sunday (15), on twitter, Kiyosaki made a jocular post in ‘celebration’ at the end of the gold standard, giving his advice to buy more bitcoin and precious metals because smart people are doing it.
HAPPY BIRTHDAY fake US dollar. 50 years ago, August 15, 1971, Nixon took the dollar off the gold standard. The US dollar turned into counterfeit money, robbing workers, and savers turned into losers. that’s why I don’t save dollars. Smart people save gold, silver and Bitcoin.
HAPPY BIRTHDAY fake US dollar. 50-years ago today, August 15, 1971, Nixon took dollar off the gold standard. US dollar became fake money ripping off workers and savers became losers. 50 years ago today is why I do not save dollars. Smart people save gold, silver, & Bitcoin.
— therealkiyosaki (@theRealKiyosaki) August 15, 2021
Robert Kiyosaki and Bitcoin
Robert Kiyosaki has always been a big critic of how governments manage the economy and the education system. According to him, the school was not made to help the lower classes to be rich, on the contrary, he believes that this is the reason why there is no financial education in schools.
He’s also become a big bitcoin advocate in recent years, and early in the pandemic, especially in March 2020, he started warning people to buy gold, silver and bitcoin.
Robert Kiyosaki has already made some predictions about the price of bitcoin and some of them have already come true, he believes the bitcoin will reach $1.2 million in 5 years, which is expected by digital currency enthusiasts, as Bitcoin is a deflationary asset by nature and perfectly designed that tends to appreciate a lot.