Robert Kiyosaki, renowned investor and author of 'Rich Dad Poor Dad,' continues to voice stark criticisms of the US financial system.
In a recent episode of his podcast, he discussed profound concerns about the economy and the implications of central bank digital currencies (CBDCs).
Highlighting the bailout of Silicon Valley Bank (SVB) last year, Kiyosaki criticized banks for using clients’ funds to invest in risky assets, leading to collapses and subsequent bank runs. He referred to top figures in US banking as “banksters,” a term echoing concerns raised by other financial analysts.
Regarding CBDCs like Fedcoin and FedNow, Kiyosaki expressed Orwellian fears about privacy invasion, likening the potential tracking capabilities to George Orwell’s ‘1984.’ He warned that such technologies could enable pervasive monitoring of financial transactions, eroding personal privacy.
Questioning the safety of banks amidst ongoing financial instability, Kiyosaki condemned the Federal Deposit Insurance Corporation’s (FDIC) bailout practices as undermining capitalism. He described the current economic situation as a “big mess,” emphasizing the loss of public trust in financial institutions.
Donald Trump criticized the Federal Reserve’s recent decision to cut its benchmark interest rate by half a percentage point, calling it a “political maneuver” and suggesting that a smaller reduction would have been more appropriate.
The Bank of Japan (BOJ) has opted to keep interest rates steady at 0.25%, leading to a sharp rise in the Nikkei index, which jumped over 700 points.
On September 18, the US Federal Reserve made a notable move by cutting interest rates by 50 basis points, marking the start of a new easing cycle.
The Federal Reserve’s recent 50 basis point rate cut left experts divided.