Poor Dad Rich Dad When the Federal Reserve introduces a central bank digital currency (CBDC), author Robert Kiyosaki asserts that bitcoin will "become priceless". He stressed that "Big Brother will be watching," and warned that privacy will be gone. The well-known author pleaded with investors to begin amassing bitcoin right away "before it's too late."
Investors Are Warned by Robert Kiyosaki's CBDC to Start Bitcoin Savings Right Away
Robert Kiyosaki, the author of Rich Dad Poor Dad, has issued a warning regarding the dangers of the Fed introducing a central bank digital currency (CBDC). Kiyosaki and Sharon Lechter co-authored the 1997 book Rich Dad Poor Dad. It has spent more than six years as a best seller in the New York Times. The book has sold more than 32 million copies worldwide in more than 51 different languages.
In a post on the social media site X on Friday, Kiyosaki argued that privacy would be eliminated when the Federal Reserve's central bank issued its own digital money. "Big Brother will be watching," he warned, adding that when the digital dollar is introduced, gold, silver, bitcoin, and cash will lose their value. He then urged investors to start putting money aside in the form of gold, silver, bitcoin, and cash right away before it was too late.
Not only the well-known author is worried about the Federal Reserve's introduction of a central bank digital currency. The CBDC Anti-Surveillance State Act was approved last week by the U.S. House Committee on Financial Services with the support of 60 lawmakers. Congressman Tom Emmer (R-MN), who presented the bill, said, "This bill is simple: It halts the efforts of this Administrative State under President Biden from issuing a financial surveillance tool that will undermine the American way of life." Senator Ted Cruz of the United States sponsored legislation to forbid the Fed from creating a direct-to-consumer CBDC in March.
The Fed is far from publishing a CBDC, though. Jerome Powell, the chairman of the Federal Reserve, stated in September of last year that the central bank has not made a decision about the issuance of a digital dollar. He stated, "We have not made a decision to move forward and we do not envision ourselves making that decision for some time. We anticipate that this will be a multi-year process during which we will be working to increase public trust in our study and our final finding.
Do you concur with Rich Dad Poor Dad author Robert Kiyosaki that bitcoin and the Fed's digital currency will become unaffordable? Comment below with your thoughts and let us know.