According to Fortune , Robert Kiyosaki, author of "Rich Dad Poor Dad," revealed that he owes banks over $1 billion. Despite the large debt, the author appears quite calm, even boasting about it.
"I treat debt like cash and don't save cash. The US dollar became debt and depreciated from 1971, after Nixon ended the exchange of dollars for gold," Kiyosaki said.
The author of "Rich Dad Poor Dad" during a visit to Vietnam in late 2015. (Photo: Hoa Khang)
The author of this famous book also revealed that he doesn't use cash but instead uses debt to buy assets like gold – an asset that can withstand market downturns and rising inflation, unlike cash deposited in banks. "If I go bankrupt, the bank will go bankrupt too," he asserted.
According to Robert Kiyosaki, living debt-free is a dream for many, but it's "the worst advice you can give someone right now." "President Biden has printed $10 trillion, oil prices are rising... Why should I save money?" he stated.
In a recent interview, the author of " Rich Dad Poor Dad" also issued several warnings about an impending banking crisis, inflationary pressures, and a stock market crash.
These factors prompted him to buy oil wells instead of oil stocks, save gold and silver, and deposit it in banks outside the United States. "The winner will be the one who holds gold and silver," emphasized author and renowned investor Robert Kiyosaki.
Although he recommended using debt to buy assets, he disagreed with borrowing money to buy physical items that do not appreciate in value or pay dividends.
Robert Kiyosaki was born and raised in Hilo, Hawaii, in a fourth-generation Japanese-American family. He is the author of the life-changing book, *Rich Dad Poor Dad*.
Robert is not only known as the author of a series of bestselling books such as Rich Dad Poor Dad , The 8 New Rules of Money , and Unfair Advantage , but he is also considered a renowned investor, entrepreneur, and speaker.
(Source: Znews)
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