3 - 5 minute read
According to Bitcoin Bull Robert Kiyosaki, US President Joe Biden’s decision to pull US troops out of Afghanistan in 2021 is driving de-dollarization around the world. Kiyosaki believes that this move will eventually lead 70% of the world’s population to use a gold-backed Chinese yuan as their primary currency, making the US dollar “toast.” In a new interview with London Real, Kiyosaki accuses the US political and macroeconomic policies of crushing the middle class, as Saudi Arabia joins the BRICS group of nations.
The BRICS (Brazil, Russia, India, China, and South Africa) countries—all emerging economies—stand as an economic alliance to counter the western influence exerted by the likes of the US and the European Union. Since its formation in 2009, BRICS countries have been investing in each other’s economies, reducing barriers to trade, and trying to create an alternative financial system. Recently, countries that have been traditionally aligned with the US have been signaling a shift away from the greenback. This shift is significant because the US dollar is the world’s reserve currency—something that Beijing believes has provided Washington with unfair advantages.
Kiyosaki’s prediction might have a significant impact on the US economy since the US dollar is a crucial part of the global financial system. If countries start using the yuan as their primary currency, it could lead to a significant drop in demand for the US dollar. While it’s still too early to predict what’s to come, both countries’ bitter relations are driving an economic decoupling between the two largest economies in the world, with China actively seeking to internationalize the yuan and reduce its dependence on the US dollar.
Considering the potential impact of the article on Bitcoin, Gold, and Silver, traders need to exercise caution while trading these assets. The prospect of a bleak US economic future, as predicted by Kiyosaki, can be an opportunity for traders to invest in Bitcoin, gold and silver. With the US dollar’s potential decline, diversifying one’s portfolio to include other globally recognized assets can protect them from volatility.
The Bottom Line
As the US struggles to maintain global dominance, its political and macroeconomic policies seem to be driving a shift away from the US dollar. Bitcoin Bull Robert Kiyosaki predicts that this move will eventually lead 70% of the world’s population to use a gold-backed Chinese yuan as their primary currency via the BRICS alliance, making the US dollar “toast.” Traders need to stay informed of developments and exercise caution while trading Bitcoin, Gold, Silver, and the US dollar.
