Prominent American investor and author Robert Kiyosaki has issued a stark warning about the future of the US dollar, urging the public to shift their investments towards cryptocurrencies and precious metals. His comments came on Friday, coinciding with Russian President Vladimir Putin's high-profile visit to India for meetings with Prime Minister Narendra Modi.
Kiyosaki's Stark Warning: 'Bye-Bye US Dollar'
Taking to social media platform X, the 'Rich Dad Poor Dad' author claimed that the BRICS economic bloc—comprising Brazil, Russia, India, China, and South Africa—had announced a new gold-backed currency called the 'Unit'. "Bye-bye US dollar!" Kiyosaki declared. He cautioned that savers holding US dollars could become the "biggest losers" if hyperinflation were to strike, potentially wiping out their wealth.
Kiyosaki reiterated his long-standing investment mantra for such turbulent times. "I stand by my mantra, own gold, silver, Bitcoin, and Ether. Take care, stay alert," he wrote. In recent months, he has been a vocal advocate for these alternative assets, previously labelling silver as "the best and the safest" investment option.
The Reality Behind the BRICS Currency Buzz
While talk of a BRICS currency to challenge the US dollar's dominance has circulated for over two years, no official launch has materialized. Speculation peaked in October 2024 when photos from the Kazan Summit showed President Vladimir Putin holding a prototype 'BRICS banknote'.
However, top officials have since clarified the group's position. Ahead of his trip to India, Putin stated that BRICS nations currently have no immediate plans for a single currency. He explained that the primary goal is not to abandon the US dollar or the SWIFT payment system but to create alternatives that prevent the "weaponization" of the dollar in international finance.
"We are not refusing, not fighting the dollar, but if they don't let us work with it, what can we do? We then have to look for other alternatives, which is happening," Putin told the media. He emphasized a cautious approach, focusing on expanding the use of national currencies and the capabilities of the BRICS New Development Bank.
Investment Implications and Expert Advice
Kiyosaki's dramatic forecast highlights the growing debate around de-dollarization and the search for stable stores of value amidst global economic uncertainty. His push for Bitcoin and Ethereum, alongside traditional safe havens like gold and silver, reflects a strategy favoured by many seeking insulation from potential currency devaluation.
It is crucial for investors to note that such views represent the opinions of individual analysts. Market experts consistently advise investors to conduct thorough research and consult with certified financial advisors before making any significant investment decisions based on macroeconomic predictions.
