Elon Musk, the CEO of Tesla and SpaceX, thinks that fiat currency is a hoax that has become so commonplace that we no longer recognize it as such. Robert Kiyosaki, author of Rich Dad Poor Dad, who frequently advises against investing in the U.S. dollar and other fiat currencies, which he refers to as "fake" money, holds a similar perspective to many others.
Elon Musk believes that fiat money is a scam.
Elon Musk, the CEO of Tesla and SpaceX, thinks that fiat money is a fraud. On Sunday, user Wall Street Silver posted an image with the query "What's a scam that's so normalized that we don't even realize it's a scam anymore?" on the social networking site X. Musk retorted, "Fiat money."
Fiat money has long been criticized by Musk. He tweeted in February 2021, "When fiat currency has negative real interest, only a fool wouldn't look elsewhere." Additionally, he said of Bitcoin: "Bitcoin is almost as bs as fiat money." But he continued: "The real conflict is between cash and cryptocurrency. Overall, I'm in favor of the latter.
The CEO of Tesla is not the only person who believes that fiat money is a hoax, Ponzi scheme, or scam. On X Tuesday, Jeff Ross, the founder of Vailshire Capital, stated: "The fiat currency system exists to methodically extract purchasing power from its participants." Poor Dad Rich Dad The U.S. dollar is a hoax, according to author Robert Kiyosaki, who has forecast its collapse. Fiat money is referred to by the renowned author as "fake money," while gold, silver, and bitcoin are all considered to be "people's money" and are therefore "God's money." In July, he wrote: "Giant crash [is] approaching... Get as much genuine gold, silver, and bitcoin as you can. The demise of fiat (false) money is imminent.
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