“Rich Dad, Poor Dad” author and financial guru Robert Kiyosaki made headlines once again with his latest tweets on the importance of buying Bitcoin, as he called the United States “bankrupt” with a $250 trillion debt. He also called the ongoing issue of raising the U.S. debt ceiling a “bad comedy.”
While the government is currently engaged in negotiations on raising the national debt ceiling, Kiyosaki called “politicans debating raising $ 30 trillion US debt limit bad comedy, ‘kabuki theater.’”
Kabuki Theater is a traditional Japanese theater that mixes dramatic performance with traditional dance.
The entrepreneur and financial guru, who has become a Bitcoin advocate over the years, revealed that the U.S. is bankrupt with $250 trillion dollars in unfunded Social Security liabilities and the country’s derivative assets measured in thousands of trillions.
Kiyosaki also advised the public to invest in gold, silver and Bitcoin.
“Facts are: US bankrupt. Unfunded liabilities as Social Security are over $250 trillion. Financial market “derivative assets” measured in quadrillions…thousands of trillions. WTF. Buy G,S, BC,” his tweet read.
What Kiyosaki called a “bad comedy” is an annoying ongoing debate between the Democrats and Republicans on the issue of raising the country’s debt limit to $30 trillion by June 1 to prevent it from plummeting into bankruptcy.
In 2021, the Federal Reserve said that inflation would be transitory, but a couple of years later and despite continuous price hikes, prices of consumer products remain a lot higher.
Kiyosaki disagreed with the Federal Reserve’s outlook and claimed that inflation has now become systemic. “My biggest concern is that inflation is now systemic,” the financial guru told CNBC, noting that “when Powell said it’s transitory, that was a lie.”
Kiyosaki previously warned that the U.S. is “sitting on the edge of a great depression,” with an incoming “economic tsunami,” as the country’s fiat currency gradually loses its status as the reserve currency of the world.
The entrepreneur-investor has long been telling the public to invest in Bitcoin as a measure of security in the event of a massive recession.
Earlier this month, Kiyosaki said the country is in for a crash landing due to incompetence and a high level of corruption and noted that gold, silver and Bitcoin are the best hedge against the incoming crash.
“Soft landing? hard landing? or crash landing? I say crash landing. I hope I am wrong yet that is what I believe. Corruption is high & leaders [are] corrupt. Buy gold, silver, Bitcoin. Still best insurance against corruption & incompetence,” Kiyosaki tweeted.
Bitcoin saw a 0.31% gain and was trading up at $26,347.06 over the past 24 hours, with a 24-hour volume of $12,684,399,648 as of 2:10 a.m. ET on Friday, according to the latest data from CoinMarketCap.
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