As Germany, the largest economy in the eurozone, slips into a fall, Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ took it as a warning that countries can potentially start going bankrupt after numerous high-profile bank failures.
Nonetheless, during the 1st 3 months of 2023, German households have decreased spending in response to a whole lot of boost in food and energy prices across the eurozone, with a gross domestic product (GDP) of 0.3 percent lower than in the last quarter of 2022.
As a result to these revelations, Kiyosaki has wondered whether countries, beginning with Germany, could start to suffer the same destiny as plenty of banking giants over the past months and when it can potentially be the Unites States’ turn, in his observations shared on May 26.
“ 1st BANKS. COUNTRIES next? Will Germany be the 1st country to fail? Go Bankrupt? if GERMANY fails which country will be next? Will America default after Germany?”
Is the United States going bankrupt?
Earlier, the financial educator warned his podcast listeners that the United States was “sitting on the edge of a possible great depression” owing to the potential of small, regional banks following their larger, national counterparts in collapses but without the prospect of Government bailouts.
As for the present negotiations on raising the national debt ceiling in the United States to prevent bankruptcy, the author has compared them to a “bad comedy” and “kabuki theater,” arguing that the country was already bankrupt and advising his followers to invest in gold, silver, and Bitcoin (BTC) (BTC).
In addition of that, he has claimed that “cash is trash,” often referring to fiat currencies as “fake money” and “toilet paper,” with particularly scathing remarks about the United States dollar, which he believes will go down and attract the American empire down with it.
As it loses its position as a “bully” in the worldwide financial “playground,” with the BRICS countries – Brazil, Russia, India, China, and South Africa – mulling an alternative to the USD as the world’s reserve currency, Kiyosaki likewise believes it is going to “come back as a tidal wave of toilet paper upon America,” as its dominance ends.
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