Robert Kiyosaki Warns About the Risks of CBDC
Robert Kiyosaki, the author of Rich Dad Poor Dad, has expressed concerns about the Federal Reserve launching a central bank digital currency (CBDC). He believes that when this happens, privacy will be compromised and “Big Brother” will be watching. Kiyosaki predicts that assets like gold, silver, bitcoin, and cash will become invaluable once the digital dollar is introduced. As a result, he urges investors to start accumulating these assets now before it’s too late.
Concerns Surrounding CBDC
Kiyosaki is not alone in his worries about the Federal Reserve’s CBDC. The U.S. House Committee on Financial Services recently passed the CBDC Anti-Surveillance State Act with support from 60 Congress members. The bill aims to prevent the issuance of a financial surveillance tool that could undermine American privacy and way of life. Similarly, in March, U.S. Senator Ted Cruz introduced legislation to prohibit the development of a direct-to-consumer CBDC by the Fed.
The Fed’s Stance on CBDC
However, it is important to note that the Federal Reserve is still far from issuing a CBDC. Federal Reserve Chairman Jerome Powell stated in September last year that no decision has been made regarding a digital dollar. He emphasized that this process would take several years to analyze and build public confidence before reaching a conclusion.
Hot Take: Bitcoin’s Priceless Future
In conclusion, Robert Kiyosaki believes that bitcoin will become invaluable in the future due to the launch of a central bank digital currency by the Federal Reserve. He warns about the loss of privacy and urges investors to start saving bitcoin now before it’s too late.
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