Robert Kiyosaki, the well-known author of the book “Rich Dad Poor Dad,” recently warned about the dangers of central bank digital currencies (CBDCs). This warning comes against the backdrop of increasing political tensions and the threat of war in several parts of the world. Kiyosaki expects this could accelerate the development process of CBDCs.
Are CBDCs a future espionage tool?
CBDCs are digital currencies issued by central banks. They are considered a modern development of traditional fiat currencies such as the dollar or the euro. Instead of using physical cash, people would conduct their transactions using digital entities managed by central authorities.
However, 76-year-old Kiyosaki warns that CBDCs could pose a threat to individuals’ financial freedom and privacy. He emphasizes that these digital currencies provide governments and central banks with the ability to closely monitor and control people’s financial behavior. This could lead to a loss of personal freedom and privacy:
“Please be careful. Banking crisis deepens. The threat of war increases. “Central banks will push for CBDC, the central bank digital currency, to spy on us,” Kiyosaki wrote in one Post on X (formerly Twitter).
The American author sees crypto and raw materials as a suitable solution as an alternative to the upcoming CBDCs.
“I buy more Bitcoin and silver coins. Silver is the biggest bargain. I will use silver as money, not counterfeit US dollars,” he concludes.
Bitcoin and precious metals the best solution
The well-known investor also points out the danger of financial censorship. With CBDCs, governments would have the ability to block or restrict transactions depending on political considerations. This could prevent people from freely making their own financial decisions, the businessman said earlier this year.
Kiyosaki’s warning comes at a time of increasing uncertainty in the world. Political tensions between countries such as the United States, China and Russia have raised concerns about a possible escalation of the conflict. In potentially uncertain times ahead, it is understandable that people are looking for alternative forms of currency to protect themselves from financial risks.
One of the alternatives Kiyosaki advocates is owning precious metals such as gold and silver. He believes these assets can provide valuable protection against the effects of economic turmoil.
Kiyosaki is also a strong believer in Bitcoin (BTC). He previously said in a controversial X post that he was happy with a Bitcoin crash. He wants to take advantage of this by talking about a sell-off. Furthermore, he sees a Bitcoin price of $135,000 as a realistic prediction for the upcoming Bitcoin price Bull run.