‘Wealthy dad’ Kiyosaki disputes WSJ’s financial narrative, favors bitcoin

Crypto.information – Famend writer and investor Robert Kiyosaki has rebutted the Wall Road Journal’s portrayal of a thriving US financial system, underlining his skepticism on Twitter.

Kiyosaki careworn that the current upswing within the inventory market was primarily pushed by President Joe Biden’s determination to carry the debt ceiling, exacerbating the nation’s monetary burden. Concurrently, he extolled as a possible secure haven.

WSJ’s optimistic predictions

The WSJ article, titled “U.S. Financial Development Accelerates, Defying Slowdown Expectations”, printed on July 27, 2023, emphasised a 2.4% financial surge within the US for the Q2 2023. It interpreted this as a sign of recession avoidance.

WSJ attributed this progress to comparatively low inflation, in comparison with historic norms, and a stable labour market. The article additionally mooted a “mushy touchdown” situation the place inflation would revert to the Federal Reserve’s 2% goal, sans triggering a recession.

Wealthy Dad’s writer stance on financial system

Kiyosaki, nonetheless, possesses a contrasting perspective on the financial state of affairs. He has been cautioning about potential threats to the US greenback’s dominance as the worldwide reserve forex.

The threats are coming significantly from the rising markets like Brazil, Russia, India, China, and South Africa. He asserts {that a} declining greenback worth might result in an inflow of international funding again to the USA. This might have antagonistic financial implications.

The celebrated investor is understood for his critique of governmental fiscal insurance policies, deriding the Federal Reserve and related entities because the “Adams household” and “cartoons killing the financial system”. In line with Kiyosaki, the federal government isn’t prioritizing the welfare of the folks, and the financial system is verging on a severe downturn.

Kiyosaki is praising Bitcoin

Over time, Kiyosaki has promoted investments in valuable metals like gold and silver over the faltering US financial system, recognizing them as safer bets. Nevertheless, Bitcoin, the main cryptocurrency, has develop into his prime focus just lately. He constantly advises his followers to spend money on Bitcoin, forecasting a price of $120,000 by 2024.

He additionally tasks that Bitcoin’s worth will rise, offering a hedge in opposition to the diluting greenback, significantly when the US forex’s affect wanes and “trillions of US $” circulate again into the nation.

Robert Kiyosaki is widely known for his best-selling e book “Wealthy Dad Poor Dad”, which gives insights into monetary training and independence. He’s recognized for his experience in investing and monetary literacy, advising people on wealth creation and administration methods.

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