As Germany, the biggest economic system within the eurozone, slips right into a recession, Robert Kiyosaki, the writer of the best-selling private finance e-book ‘Rich Dad Poor Dad,’ took it as a warning that international locations may begin going bankrupt after a number of high-profile financial institution failures.
Certainly, throughout the first three months of 2023, German households have decreased spending in response to a vital enhance in meals and power costs throughout the eurozone, with a gross home product (GDP) of 0.3% decrease than within the final quarter of 2022.
In response to those revelations, Kiyosaki has puzzled whether or not international locations, beginning with Germany, might begin to undergo the identical destiny as several banking giants within the earlier months and when it might be the Unites States’ flip, in his observations shared on Might 26.
“First BANKS. COUNTRIES next? Will Germany be the first country to fail? Go Bankrupt? if GERMANY fails which country will be next? Will America default after Germany?”
Is the US going bankrupt?
Earlier, the monetary educator warned his podcast listeners that the US was “sitting on the edge of a possible great depression” because of the chance of small, regional banks following their bigger, nationwide counterparts in collapses however with out the prospect of presidency bailouts.
By way of the present negotiations on elevating the nationwide debt ceiling within the US to forestall chapter, the writer has in contrast them to a “bad comedy” and “kabuki theater,” arguing that the nation was already bankrupt and advising his followers to put money into gold, silver, and Bitcoin (BTC).
On high of that, he has argued that “cash is trash,” usually referring to fiat currencies as “fake money” and “toilet paper,” with notably scathing remarks concerning the US greenback, which he believes will go down and convey the American empire down with it.
Because it loses its place as a “bully” within the international monetary “playground,” with the BRICS nations – Brazil, Russia, India, China, and South Africa – mulling a substitute for the USD because the world’s reserve forex, Kiyosaki additionally believes it’ll “come back as a tidal wave of toilet paper upon America,” as its dominance ends.
