[image credit : Twitter]
Robert Kiyosaki criticized governments printing money in response to the coronavirus pandemic while calling bitcoin the “people’s money.”
Kiyosaki, who gained renown for his popular Rich Dad Poor Dad book series, published a tweet on April 1 criticizing the idea of saving money in light of recent economic policies.
The author denounced the Fed’s money printing scheme in response to the coronavirus pandemic, as central banks around the world introduce trillions in new fiat to combat the looming recession.
Kiyosaki told investors to save gold or the “people’s money” bitcoin rather than relying upon fiat.
Lesson 5. SAVE MONEY: RU NUTS? Why save money when QE FED counterfeiting is printing trillions of fake dollars-$82 billion a month to $125 billion a day? Why save when ZIRP, zero interest policy pays losers zero? Save gold-god’s money or Bitcoin-people’s money.
— therealkiyosaki (@theRealKiyosaki) April 1, 2020
Cryptocurrency hardware wallet manufacturer Ledger responded to the tweet with their own take on the current economic situation.
There are two types of dads, a #Bitcoin dad, and a #fiat dad. One can never be debased and the other… let's leave it at that.
— Ledger (@Ledger) April 1, 2020
Governments around the world have responded to the economic impact of the coronaviurs with policies of “quantitative easing,” which some critics are calling a “money-printing scheme.”
Last week, the White House and US Congress announced a $2 trillion stimulus package, which would include $500 billion in loans to failing businesses and $250 billion in direct payments to American citizens.
