As Germany, the largest economy in the eurozone, slips into a fall, Robert Kiyosaki, the author of the best-selling personal finance book โRich Dad Poor Dad,โ took it as a warning that countries canย 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 wholeย lotย of boostย 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.
Asย aย result to these revelations, Kiyosaki has wondered whether countries, beginningย with Germany, could start to suffer the same destiny as plentyย of banking giants overย theย pastย months and when itย canย potentially be the Unites Statesโ turn, in his observations shared on May 26.
โ 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?โ
Is the Unitedย States going bankrupt?
Earlier, the financial educator warned his podcast listeners that the Unitedย States was โsitting on the edge of a possible great depressionโ owingย to theย potential of small, regional banks following their larger, national counterparts in collapses but without the prospect of Government bailouts.
Asย forย theย present negotiations on raising the national debt ceiling in the Unitedย States to prevent bankruptcy, the author has compared them to a โbad comedyโ and โkabuki theater,โ arguing that the country was already bankrupt and advising his followers to invest in gold, silver, and Bitcoinย (BTC) (BTC).
Inย addition of that, he has claimedย that โcash is trash,โ often referring to fiat currencies as โfake moneyโ and โtoilet paper,โ with particularly scathing remarks about the Unitedย States dollar, which he believes will go down and attract the American empire down with it.
As it loses its position as a โbullyโ in the worldwide financial โplayground,โ with the BRICS countries โ Brazil, Russia, India, China, and South Africa โ mulling an alternative to the USD as the worldโs reserve currency, Kiyosaki likewise believes it is going to โcome back as a tidal wave of toilet paper upon America,โ as its dominance ends.
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