R. Kiyosaki Advises Americans To “Stay Awake” Calling Biden’s Crypto Edict “Pure Communism”

Kiyosaki – As several countries around the world, including the United States, investigate the feasibility of introducing central bank digital currencies (CBDCs), the author of the personal finance book “Rich Dad, Poor Dad,” Robert Kiyosaki, has issued a scathing critique of the possibility of their implementation as envisioned in the White House executive order.

Kiyosaki referred to President Joe Biden’s Executive Order signed in early March, which established the government’s position on cryptocurrencies and explored the potential creation of CBDCs, as the “most treasonous act in US history” in a tweet on July 18.

Kiyosaki went so far as to call the development of CBDCs “communism in its purest form”

In this tweet, Kiyosaki was referring to Jim Rickards, an ex-CIA insider, economist, and investment banker with 40 years of Wall Street experience, who made the “most important announcement” about the executive order and CBDCs.

Rickards is a well-known critic of CBDCs, referring to them as “Bitcoin’s Evil Cousin” and has recently made alarming claims about what he calls the “C-Day,” which is scheduled for December 13, 2022.

According to him, this ‘C-Day’ would result in traditional financial systems being disrupted, the US dollar collapsing and paper money becoming worthless, consumer spending and access to basic needs being restricted, penalties for “holding too much money with severe negative interest rates,” and the arrival of CBDCs.

What is the Executive Order’s position on CBDCs?

As a reminder, President Biden’s Executive Order 14067, to which Kiyosaki was referring, directs agencies to explore with “the highest urgency” the legal and financial benefits and risks of the establishment of the U.S.’s own CBDC for consumers, investors, and businesses.

The order also states that:

“Any future dollar payment system should be designed in a way that is consistent with United States priorities (…) and democratic values, including privacy protections, and that ensures the global financial system has appropriate transparency connectivity, and platform and architecture interoperability or transferability, as appropriate.”

Meanwhile, the International Monetary Fund (IMF) stated in early July that CBDCs and cryptos can be a more effective payment solution than credit and debit cards, particularly in terms of energy consumption.

Despite his criticism of CBDCs, Kiyosaki is a supporter of Bitcoin (BTC) and the decentralization it provides, and has recently called on investors to prepare for what he calls “the greatest sale on Earth” after the predicted bubble bursts.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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