‘Rich Dad, Poor Dad’ Author Robert Kiyosaki Slams The Federal Reserve As A ‘Criminal Organization’ That Has Destroyed The Economy And ‘Made The Poor And Middle Class Poorer’ — ‘The Fed Is The Problem’

Feb 22, 2024 6:28 am | News

In a statement shared on social media, “Rich Dad Poor Dad” author Robert Kiyosaki voiced his critique of the Federal Reserve, labeling it a “criminal organization” responsible for economic disparities and favoritism toward the banking sector.

Kiyosaki, known for his forthright views on financial education and investment strategies, expressed his frustration over the state of the economy and the Federal Reserve’s role in it.

The investor’s comments came amid rising concerns over the economic future of the United States and potential global financial repercussions.

“Sick and tired of hearing ‘experts’ ask, ‘What is the Fed doing?’ The Fed is the problem. The Fed is a criminal organization. The Fed has destroyed the economy, made the poor and middle class poorer and bailed out their rich banking friends,” Kiyosaki stated on X on Feb. 15.

Kiyosaki’s post suggests a deep-seated distrust of the U.S. government and the Federal Reserve, urging his audience to shift their focus from the institution’s announcements and actions. He accused the Federal Reserve of undermining the economy and exacerbating the financial divide between socioeconomic classes while offering a safety net to large banks during crises.

In the past, he has highlighted the diminishing purchasing power of the dollar, attributing its decline to inflation and the Federal Reserve’s policies. He contrasts this with gold’s enduring value, pointing out the metal’s consistent performance as a hedge against inflation. According to Kiyosaki, since the dollar’s decoupling from the gold standard, it has become “fake money” — a government IOU that can be produced in unlimited quantities, thus eroding its value over time.

His criticisms come in the wake of recent banking turbulence and the Federal Reserve’s intervention, which he perceives as favoritism toward the banking industry at the expense of the broader public. His advice to disregard the Fed’s guidance reflects his broader skepticism toward traditional financial institutions and a call for individual financial empowerment through alternative investment avenues.

Kiyosaki’s investment strategies include leveraging debt to purchase assets that can produce cash flow, such as real estate, thereby minimizing tax liabilities and maximizing income. He emphasizes the importance of financial literacy and adopting a mindset that sees beyond conventional savings to generate wealth.

The billionaire author has famously declared he’s so rich because he’s in debt, but not everyone is comfortable with carrying debt, especially when other financial advisers advocate for eliminating it. One option to generate cash flow through real estate without the burden of debt is Arrived Homes.

The platform allows people to invest in shares of rental properties, offering a way to generate passive income and benefit from real estate appreciation without the challenges of property management or the need for significant upfront capital. It represents a modern application of Kiyosaki’s advocacy for real estate as a tool for financial growth, providing access to the real estate market in a manner that’s aligned with the digital age and current economic trends.

Don’t Miss:

“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!

Get the latest stock analysis from Benzinga?

This article ‘Rich Dad, Poor Dad’ Author Robert Kiyosaki Slams The Federal Reserve As A ‘Criminal Organization’ That Has Destroyed The Economy And ‘Made The Poor And Middle Class Poorer’ — ‘The Fed Is The Problem’ originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

feed from Finance.yahoo.com