Opinion

Creation of CBDC Are Communism in its Purest Form Says Robert Kiyosaki

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Jul 19, 2022

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The US along with several other nations are examining the viability of CBDC introduction. The author of “Rich Dad, Poor Dad,” Robert Kiyosaki, has harsh criticism for the likelihood of their introduction as envisioned in the White House executive order.

The government’s position on cryptocurrencies and the potential creation of CBDCs were outlined in President Joe Biden’s Executive Order, which was signed in early March.

The move is harshly criticized by Kiyosaki who called this action the most treacherous move in US history.

Also, Kiyosaki went so far as to call the development of CBDCs “communism in its purest form.”

In this tweet from July 18, 2022, Kiyosaki was referring to Jim Rickards, a former CIA insider who is also an economist and investment banker with 40 years of Wall Street experience. Rickards had broken the most important news on the presidential order and CBDCs.

Executive Order’s stand on CBDCs

As a refresher, President Biden’s Executive Order 14067, to which Kiyosaki was alluding, instructs agencies to investigate the potential risks and rewards of establishing the United States’ own CBDC with the greatest urgency.

Despite his criticism of CBDCs, Kiyosaki is a supporter of Bitcoin (BTC) and the decentralization it offers. In a recent statement, he advised investors to get ready for the biggest sale on Earth after the anticipated bubble breaks.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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