Rising inflation in the United States has led the US Dollar Index (DXY) to struggle more globally. However, the coming months may be more difficult for the dollar as the BRICS countries plan to “dedollarize” the global economy. Rich Dad Poor Dad author expects this move to push the price of gold to the moon. Here are the details…
Implicit ‘gang war’ for the US dollar: Will gold make a splash?
Robert Kiyosaki stated in a Twitter post that about 41 countries could attend a meeting to meet against the US Dollar in South Africa on August 22, 2023. He underlined the word “gang war”. It is waiting for the BRICS (Brazil, Russia, India, China and South Africa) and other countries to come together to launch the “BRIC” currency. The BRIC currency will be backed by gold. Kiyosaki added that 1 BRIC would equal 1 ounce of gold, which would somehow lead the gold price to reach $3,000. Spot gold is currently trading at $1,972.
GANG WARFARE: August 22, 2023 approximately 41 nations, possibly even France gang up in South Africa to “de Dollarize” the world. Proposal: BRICS nations will launch “bric” their money. 1 bric = 1 oz of gold=$3,000. Bye bye USA.
— Robert Kiyosaki (@theRealKiyosaki) July 26, 2023
As we reported on cryptokoin.com, yesterday, the US Dollar faced challenges due to the review of the US Federal Reserve’s policy decisions and Chairman Jerome Powell’s comments on the policy outlook. The USD index, which measures the dollar against six major currencies, closed the day significantly lower, near the 101.00 level. According to reports, more than 40 countries have expressed their desire to join the BRICS group. This development comes after an update confirming that Russian President Vladimir Putin will not attend the BRICS summit scheduled for August 22-24. A senior BRICS diplomat reportedly stated that the BRICS currency is not on the agenda. But the group of nations will continue to move away from the US dollar.
Kiyosaki’s suggestions draw attention
Kiyosaki has shared various investment principles and advice throughout his career. Specifically, the author recommends diversifying your investments to reduce risk. It encourages the spread of investments in various asset classes such as stocks, real estate, precious metals, cryptocurrencies. In terms of precious metals, gold and silver have always come to the fore. Also in the past, Kiyosaki had generally positive views on Bitcoin and cryptocurrencies as an alternative investment and a hedge against traditional financial systems.
He sees Bitcoin as a potential store of value and a way to protect wealth from the risks of devaluation and inflation of fiat currencies by central banks. He referred to Bitcoin as “the people’s money”. He compared it to gold, noting that the coin is a more accessible and decentralized form of money that can act as a hedge against economic uncertainty.
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