Kelvin Munene Murithi
Robert Kiyosaki, the author of “Rich Dad Poor Dad,” has voiced his concerns following Federal Reserve Chairman Jerome Powell’s recent statements on inflation. Powell acknowledged the challenges in controlling inflation, indicating a departure from previous assurances that inflation levels would be maintained at the 2% target and that the inflationary trend was “transitory.”
Fed Chairman Powell finally told the truth. Last week he finally admitted inflation is winning. The Fed can no longer promise I flation at 2% or that inflation is “transitory.” Again he finally stopped lying. Congratulations.
The problem is most people have no idea what the…
— Robert Kiyosaki (@theRealKiyosaki) April 3, 2024
Powell’s Inflation Outlook
During a recent meeting, Federal Reserve Chairman Jay Powell opened up about the current situation of inflation in the United States, proposing a balanced approach in order to reach the desired level of inflation by the central bank. Although there was a slight increase in the inflation rate to 2.5% in February, Powell emphasized the inconsistent path to stabilizing inflation at the desired 2% rate.
He underlined the volatility of inflation dynamics and proposed that the Federal Reserve was ready to modify their policy in line with the emerging economic information. Powell’s remarks are set against a background of strong economic indicators, as the US displays resilience in job creation and consumer spending despite the harsh rate hikes that have occurred in the past years.
Kiyosaki’s Perspective on Inflation
Upon Powell’s disclosure, Robert Kiyosaki presented a grim picture of the economic aftermath for American families and the world economy as a whole. Kiyosaki, who has been a critic of the Federal Reserve’s policies for a long time, repeated his view that reliance on saving in fiat currencies is, however, more and more precarious.
He highlighted the sharp depreciation of the buying power of the dollar following the creation of the Federal Reserve and the Internal Revenue Service in 1913. His comments are the global skepticism against the traditional financial systems as well as the efficiency of regulatory bank policies in ensuring the safety of individual wealth. Concurrently, the backdrop to these discussions is the United States’ burgeoning national debt, which has surpassed $34 trillion.
Advocacy for BTC, Gold, Silver
Amidst the backdrop of inflation concerns, Kiyosaki continues to advocate for investment in what he considers “real” assets, such as gold, silver, and Bitcoin. The basis of his recommendation is faith in these assets as a hedge against the inflationary pressures and the devaluation of fiat currencies.
Kiyosaki’s recommendation is consistent with his long-standing general criticism of traditional financial techniques and acceptance of more physical ways of wealth preservation. He recommends people reconsider their financial approaches and diversify their portfolios, including assets that may not behave adversely against inflationary trends and monetary policy changes.
Read Also: OneCoin Crypto Scam Co-Conspirator Bags 4-Year Jail Term
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
