For a long time, popular wisdom has suggested that we save our money in good times, to count on this saving during rainy days. However, the latest actions of the Fed could have seriously affected the truth behind this advice. Or at least that is what the famous investor and author, Robert Kiyosaki, who is recommending to use gold and Bitcoin in our Tweet of today:
Robert Kiyosaki’s advice
Crises are times of great suffering for a large part of the population. However, it is also a time of opportunities for those who know how to identify them.
In recent days, the famous investor and author of the book “Rich Dad, Poor Dad”, has been giving advice through his Twitter account, to survive and prosper in times of economic crisis.
The crisis generated by the Coronavirus, promises to bring on the economy of most countries in the world, the strongest economic recession seen in decades.
Which would lead many governments to design stimulus plans, to keep their economies running, even when productive and commercial activities are paralyzed.
Thus, the countries of the western world have announced multimillion-dollar aid to their companies and citizens. Coming to promise exorbitant figures, such as the $ 2 trillion offered by the United States Federal Reserve and the Treasury Department of this country.
This would represent a substantial increase in the supply of dollars worldwide.
A warning and advice
It is precisely this situation that Robert Kiyosaki warns against in his fifth advice given through his Twitter account:
“Lesson 5. SAVING MONEY: ARE YOU CRAZY? Why save money when the counterfeiting of the Fed’s monetary easing is printing fake trillions of dollars, from $ 82 billion a month to $ 125 billion a day? Why save when zero interest policy pays losers zero? Save on God’s money, gold, or people’s money, Bitcoin“
With this message, the writer would be warning against saving fiat money. Which would lose its value, according to him, due to the stimulus policy.
That is why Robert Kiyosaki advises investing in Bitcoin or gold. Since these reserve assets cannot be printed indefinitely like the US dollar.