The author of "Poor Dad, Rich Dad" revealed: He is already in debt of 1 billion!

Kiyosaki also issued multiple warnings about the impending banking crisis, inflationary pressures, and the stock market crash.

For the average person, being in debt is a heavy burden, but not for Robert Kiyosaki, the author of "Rich Dad, Poor Dad".

The "financial guru" has a rather arrogant attitude towards borrowing heavily from banks, and recently boasted that he was saddled with more than $1 billion in debt. He added:

"I use debt as money, I don't save money because in 1971 the dollar became debt. ”

He was referring to President Nixon's announcement at the time that the dollar would be decoupled from gold, which devalued the dollar and eventually led to the rise of cryptocurrencies.

Instead, Kiyosaki said he used debt to buy assets, such as gold, which can hedge against market crashes and spiraling inflation, rather than keeping money in the bank.

"If I go bankrupt, the banks will also go bankrupt," he added. "It's none of my business. ”

Living debt-free is the "worst"

Kiyosaki insisted in a separate video last week that while for many, living debt-free is a dream, it's "the worst advice you can give anyone today."

He said, "Biden has printed $10 trillion in new prints, and the price of oil is rising, so why should I save money?"

In recent interviews, he also issued multiple warnings about the impending banking crisis, inflationary pressures, and the stock market crash. And said that this is why he bought oil wells, not oil stocks, kept gold and silver coinage, and deposited them in banks outside the United States. "Our banks are collapsing, which is causing banks to be unable to lend, which leads to the collapse of the economy. So the people who win in the end are those who have gold and silver. ”

Bad debts exist

Although Kiyosaki largely believes that having a certain amount of debt is a good thing, it does not mean that there is a crazy "swipe".

He suggested using debt to buy assets, but he was not in favor of taking out loans to buy items that would not increase in value or pay dividends. "A lot of people just buy debt with debt. ”

His advice recently inspired one star in the United States, Nancy Rodriguez, who cleaned up his "bad debts" and instead shifted his investments to real estate where they could eventually pay for themselves. She said:

"I need temporary discomfort so that I can have long-term satisfaction, which is to the point where I am debt-free. ”