Renowned author Robert Kiyosaki, known for his book Rich Dad Poor Dad, is sounding the alarm on the rapid increase in the U.S. national debt. With the debt ballooning by a trillion dollars in a short period, Kiyosaki is urging investors to consider buying bitcoin, gold, and silver. He is not the only one concerned about the impact of the growing national debt on the U.S. economy and the value of the dollar.
Robert Kiyosaki's Concerns
Robert Kiyosaki, the co-author of the bestselling book Rich Dad Poor Dad, is once again emphasizing the importance of investing in bitcoin. He has been vocal about his bullish stance on the cryptocurrency and continues to express his concerns about the state of the U.S. economy and the dollar. Rich Dad Poor Dad has been a New York Times Best Seller for over six years, with more than 32 million copies sold in over 109 countries and translated into 51 languages.
Kiyosaki recently took to social media to express his frustration, stating that the national debt has increased by another trillion dollars since the start of the National Football League (NFL) season. He urged investors to protect themselves from the financial corruption and incompetence of leaders by buying gold, silver, and bitcoin. According to the Treasury Department, the national debt currently stands at $34.06 trillion, with a $1.02 trillion increase since September 18th of last year.
Other Concerned Voices
Kiyosaki is not alone in raising concerns about the U.S. national debt. Economist and gold enthusiast Peter Schiff expressed his worries on January 2nd, predicting that 2024 could witness the largest one-year increase in the country's debt. He warned of a potential sovereign debt or dollar crisis before the year ends. Schiff highlighted the alarming pace at which the debt is growing, with the last trillion added in less than three months and two weeks. He believes that the U.S. will add the next trillion in an even shorter timeframe. This rapid increase in debt, especially during a potential recession, could have severe consequences.
In November of last year, Moody's downgraded the U.S. credit rating to "negative" due to growing deficits and debt burdens. U.S. Senator Rand Paul echoed these concerns, emphasizing that out-of-control government spending poses a significant threat to the existence of the dollar. He pointed out that a trillion dollars was borrowed in the last three months alone. Billionaire investor Jeffrey Gundlach, also known as the "Bond King," warned in October of last year about the massive budget deficit and increasing interest rates on the national debt. He stressed the importance of getting the budget and spending under control to secure the future of the U.S. dollar and prevent possible inflation.
The rapid rise in the U.S. national debt has caught the attention of Robert Kiyosaki and other prominent figures. With concerns about the impact on the economy and the dollar, Kiyosaki is urging investors to consider diversifying their portfolios by adding bitcoin, gold, and silver. As the national debt continues to grow, it is crucial for individuals to stay informed and make informed investment decisions to protect their financial future.
What are your thoughts on Robert Kiyosaki's concerns regarding the national debt? Share your opinions in the comments section below.
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Tips for Investing Gold
Investing in Gold has become a very popular investment strategy. There are many advantages to investing in Gold. There are several options to invest in the gold. Some people buy physical gold coins, while others prefer investing in gold ETFs (Exchange Traded Funds).
Before you purchase any type or gold, here are some things to think about.
- First, find out if your country allows gold ownership. If you have permission to possess gold in your country, you can then proceed. If not, you may want to consider purchasing gold from overseas.
- The second thing you need to do is decide what type of gold coins you want. You can choose between yellow gold and white gold as well as rose gold.
- You should also consider the price of gold. It is best to begin small and work your ways up. It is important to diversify your portfolio whenever you purchase gold. Diversifying your portfolio should be a priority, including stocks, bonds and real estate.
- Remember that gold prices are subject to change regularly. Be aware of the current trends.
By: Kevin Helms
Title: Robert Kiyosaki Raises Concerns about Ballooning National Debt, Urges Investors to Buy Bitcoin
Sourced From: news.bitcoin.com/robert-kiyosaki-raises-alarm-on-ballooning-national-debt-urges-investors-to-buy-bitcoin/
Published Date: Mon, 15 Jan 2024 02:30:51 +0000