Rich Dad, Poor Dad Author: Bitcoin is a hedge against growing the Zombie Debt
The ‘Rich Dad, Poor Dad’ author Robert Kiyosaki went on to continue to share his support for Bitcoin as the Fed is constantly printing cash to support corporations and hedge funds. Therefore, Bitcoin can protect people from “the Zombie debt.”
Robert Kiyosaki is a known opponent of the Fed’s QE program that has been running since March, adding trillions of USD to the Fed’s balance sheet, including corporate bailouts and a survival check for average US citizens.
‘Rich Dad, Poor Dad’ author: Bitcoin, silver, and gold could protect everyone from the Zombie debt
According to Kiyosaki, the loans to Zombie CEOs are on the rise and cannot be repaid. And in this context, Bitcoin, silver, and gold can protect people from this.
Moreover, the “Zombie debt” this year constitutes $ 900 billion as the income of corporations and CEOs is declining. This could be due to the Coronavirus pandemic that caused the economy to decline and companies to cut costs.
FED is Ded. Loans to Zombie CEOs cannot be paid back. In 2020 Zombies owe $900 billion with decling income. By 2021 Zombie debt to pass $1.6 trillion. Got gold, silver, Bitcoin? “Accept what ever comes to you woven in the tapestry of your destiny.” Marcus Aurelius. Take care.
— therealkiyosaki (@theRealKiyosaki) June 28, 2020
The major real estate and Bitcoin investor expects it to surpass $ 1.6 trillion. And then, Bitcoin, silver, and gold can serve as hedges to the massive inflation that is likely to occur in the aftermath of the present QE conducted by the Fed.
Kiyosaki has also defended Bitcoin before. He explained how Bitcoin, gold, and silver are real money that can prevent the US Fed Reserve from screwing everyone.
REAL MONEY is created when people produce. 4-example If you bake cookies and sell them you create REAL MONEY. When people are paid to do nothing your cookie money is stolen. When Fed prints trillions Fed saves friends-screws everyone. Stop thieves. Save gold, silver & Bitoin.
— therealkiyosaki (@theRealKiyosaki) June 23, 2020
Higher inflation means higher taxes: Peter Schiff
Meanwhile, another key figure in the corporate world, Peter Schiff, commented on the other side of the situation with QE – their regular population and ‘survival check’.
The head of Euro Pacific Capital and a significant Bitcoin critic, Peter Schiff, have commented on the other side of this situation with the QE – the regular population and their ‘survival checks’.
Schiff has called inflation a sign of higher taxes in the future. Even if you don’t see any actual taxes, it can be done by taking away the purchasing power of the printing money.
Think of inflation as a tax. All government spending must be paid for by the public. If the government doesn’t collect their money in taxes, the Fed prints money to confiscated their purchasing power instead. Anyone calling for higher inflation is really calling for higher taxes.
— Peter Schiff (@PeterSchiff) June 27, 2020
So Peter Schiff tweeted, anyone calling for higher inflation is, in fact, calling for harder taxation.
- Jim Rogers: If Bitcoin Succeeds As Real Money, The Government Will Make The Cryptocurrency Illegal And Eliminate It
- An Angel Investor Of Robinhood And Uber: 99% Of Crypto Projects Are Simply “Garbage”