How You Can Plan To Survive the Potential Dollar Crash, According to Robert Kiyosaki
Robert Kiyosaki, author of “Rich Dad, Poor Dad” and an American businessman, has gone on the record via X saying that the U.S. dollar might lose significant value thanks to the new BRICS currency.
BRICS refers to the nations of Brazil, Russia, India, China and South Africa. It’s a kind of cryptocurrency that, unlike the U.S. dollar, is likely to be backed by gold. If this happens, the dollar could lose its status as the global reserve currency, leading to hyperinflation in America and ultimately destroying the value of the dollar.
If you’re worried about surviving a potential dollar crash, here’s what you can do about it, according to Kiyosaki.
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Invest In Gold, Silver and Bitcoin
While your first instinct might be to start hoarding money, Kiyosaki advised against this.
“Fake money (U.S. dollar, euro, yen, peso) goes down in value,” he said in the tweet. “Save gold, silver, Bitcoin, real money that goes up in value, especially in a market crash.”
This isn’t the first time he’s suggested something like this either. On his website, Rich Dad, he also advises people to invest in gold and silver to combat the falling value of the dollar. The U.S. dollar is a fiat currency. This means it can’t be converted or redeemed for something more valuable — like silver or gold — since there’s no commodity backing it.
Should something happen to the dollar, having more valuable commodities could prove essential.
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Continue Learning From the Right Teachers
Another thing Kiyosaki suggested is that you keep learning, but only from the right teachers.
“YouTube is a great source for real and fake Teachers. Invest time to get into the heads of the teacher [sic],” he wrote in the same tweet. “Choose GREAT TEACHERS: YouTube has an abundance of teachers: Some good, many bad [sic].”
Kiyosaki suggested some specific names for teachers as well.
“My real estate teacher is Ken McElroy. Taxes: Tom Wheelwright. Stocks: John MacGregor. Oil: Mike Maucelli. They all have books and their own Podcasts,” he wrote.
Along with this, he advised being mindful of who you let teach and guide you. The very best teachers have the experience, but they also often have books, podcasts and so on, which you can learn from. Whatever else, be careful who you let influence your attitude, mind and spirit.
Don’t Be Greedy
Kiyosaki also advised being patient, even if you see the value of the dollar dropping. Or, as he put it, “don’t catch falling knives.”
“Just because prices are falling, DO NOT get GREEDY [sic],” he tweeted. “Wait [until] prices have bottomed and no one wants the asset you want.”
Only then should you make moves that benefit your own financial security. As he put it, there’s going to be a bad crash. But the good news is that crashes are the best time to get rich — if you know where to look.
Start Your Own Business or Side Hustle
“Start a side hustle: own your own business,” Kiyosaki tweeted. “A. I. [sic] is going to wipe out millions of jobs. Start a small business and become an entrepreneur….not an employee afraid of losing their job.”
Many people have already lost their jobs to A.I. Companies that have heavily implemented it have cut back on staff, combined positions or gotten rid of roles altogether. By making moves now, you can get ahead of both of these changes and the potential dollar crash.
Look For New Friends
If there is a crash, Kiyosaki pointed out how important it is to find new friends who are on the same path as you are. At the same time, he suggested staying away from the following types of people:
“VICTIMS: people who blame others for their problems.”
“MARXIST: people who expect the government to solve their problems.”
By doing all of these things, you might also be able to weather the full effects of the crash — whatever they might be.
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