""I use debt as money and I don't save cash because in 1971 the dollar became debt," he added, referring to the Nixon shock, where the former president ended the convertibility of the US dollar into gold, devalued the currency, and ultimately, led to the rise of cryptocurrencies. Instead, Kiyosaki uses debt to buy assets, like gold, which can withstand market crashes and spiraling inflation-unlike cash saved in the bank. "If I go bust, the bank goes bust," he added. "Not my problem.""
""While living debt-free is a pipe dream for many, it's "the worst advice you could give anybody today," Kiyosaki insisted in another Instagram reel last week. "Biden printed $10 trillion, the price of oil is going up... Why would I save money?" He's also issued several warnings in recent interviews of an upcoming banking crisis, inflationary pressures, and a stock market crash. It's why, he claims, he buys oil wells, instead of oil stock, saves gold and silver coinage.""
Robert Kiyosaki says he carries over $1 billion in debt and treats debt as money rather than saving cash, citing the 1971 end of dollar–gold convertibility. He leverages bank loans to acquire assets such as gold, oil wells, and silver coinage that he believes can endure market crashes and spiraling inflation. He calls living debt-free the worst advice, criticizes large-scale money printing and rising oil prices, and warns of an upcoming banking crisis, inflationary pressures, and a stock market crash. He says those holding gold and silver will fare best while cautioning against bad consumer debt.
Read at Fortune
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