The author of 'Rich Dad Poor Dad' is in debt for more than $1 billion

According to Fortune , the author of "Rich Dad Poor Dad" - Robert Kiyosaki revealed that he owes the bank more than 1 billion USD. Despite the large debt, the author appears quite calm, even "bragging" about the debt.

"I use debt as money and do not save cash. The US dollar has become debt and lost value since 1971, after Nixon ended the conversion of the US dollar to gold," Mr. Kiyosaki said.

The author of "Rich Dad Poor Dad" during a visit to Vietnam in late 2015. (Photo: Hoa Khang)

The author of this famous book also revealed that he did not use cash but used debt to buy assets such as gold - an asset that can withstand market declines and rising inflation, unlike cash in the bank. "If I go bankrupt, the bank goes bankrupt," he affirmed.

According to Robert Kiyosaki, living debt-free is a dream for many people, but it is "the worst advice you can give someone right now." "President Biden has printed $10 trillion, oil prices are up... Why should I save money?", he stated his opinion.

In a recent interview, the author of Rich Dad Poor Dad also issued several warnings about an impending banking crisis, inflationary pressures and a stock market crash.

These factors prompted him to buy oil wells instead of oil stocks, and to save gold and silver, depositing them in banks outside the United States. "The winners will be those who hold the gold and silver," noted author and renowned investor Robert Kiyosaki.

While he recommends using debt to buy assets, he disagrees with borrowing money to buy physical items that don't appreciate in value or pay dividends.

Robert Kiyosaki was born and raised in Hilo, Hawaii in a fourth-generation Japanese-American family. He is the author of the life-changing book: Rich Dad Poor Dad.

Not only is he known as the author of a series of best-selling books that can easily be named such as Rich Dad Poor Dad , The 8 New Rules of Money and Unfair Advantage , but Robert is also considered a famous investor, businessman, and speaker.

(Source: Znews)

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