In a recent interview with Fox Business, Robert Kiyosaki, the co-founder of the Rich Dad Company and a well-known author, shared his thoughts on Bitcoin, Harris, Biden and Trump but also had some choice words about the stock market and the national debt.
Kiyosaki is worried about the government printing too much money. In the interview, he said, "It’s all riding upon debt. It’s how long will people keep allowing us to keep printing money." As we know, when the government prints a lot of money, it can result in inflation.
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The Federal Reserve has increased the money supply (M2) by approximately $5.6 trillion over the past four years – from $15.4 trillion in January 2020 to $21 trillion in June 2024. This has brought on inflation and rising prices in the stock and housing markets, leading to increased cost of living, potential asset bubbles, and greater income inequality.
Robert believes the current amount of printed money is not sustainable, meaning it can’t continue forever. He said, “It’s getting spooky to me” because if the government keeps printing money at this rate, it could result in serious problems for the economy.
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When the government prints a lot of money, it creates fiat currency, which isn’t tied to anything real, like gold or silver. This makes it easy for the value of the money to change based on how much is printed. Kiyosaki thinks this type of money isn’t very stable, and he’s concerned that the government can’t keep printing money forever without causing problems.
Kiyosaki explained, “The real problem is the national debt they can’t solve.” That’s a huge issue that will have to be tackled by the next government, regardless of who wins the presidential election.
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Most economists, financial experts, and policymakers agree that a high national debt and printing too much money can harm the economy. However, they don’t always agree on how bad these problems might be or when they will happen.
The stock market often depends on the amount of money floating around, but if the government keeps printing more money, people might lose trust in the stock market and take their money out, causing a crash and a plethora of wider issues for the economy and the country.
Kiyosaki is a big believer in silver, gold, and Bitcoin. In this interview, he called Bitcoin a new “asset class,” meaning it’s a different investment from stocks.
One reason Robert likes Bitcoin is that there is a limited amount of it, which makes it more stable than fiat currency, which can be printed whenever the government wants.
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