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Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

Author Rich Dad Recommends Gold, Bitcoin as Dollar is Dying

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
rich dad bitcoin gold dollar silver

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Created by industry experts and meticulously reviewed
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The impact of the coronavirus will have a negative long-term effect on the economy, bringing forth a major recession and potentially with it, the collapse of the dollar. With the dollar potentially dying in the months and years ahead, a published author, investor, and entrepreneur is recommending that investors buy Bitcoin and gold in preparation for the worst that’s yet to come.

The Coronavirus, Hyperinflation, and the Potential Death of the Dollar

In just the first couple of weeks since the world went into a state of lockdown to prevent further spread of the coronavirus pandemic and “flatten the curve,” it has had a dramatic impact on the economy.

The stock market is collapsing, real estate tumbling, and major industries like the automobile and airline industries appeared to be doomed in the short-term.

Related Reading | Move Over Bitcoin: Pro-Gold Peter Schiff Blasts the Stock Market Bubble

Quarantine conditions across the globe have resulted in a complete halt in productivity, and millions are already without work.

Record-breaking jobless claims are already starting to pile up, and stimulus packages are being prepared to assist small businesses and corporations with weathering the storm.

Individual taxpayers will be issued checks to help them brace the storm.

All of the relief is necessary in order to attempt to save the economy and prevent widespread homelessness and bankruptcy, however, it comes at a substantial cost.

As more and more money is printed at a whim, the cause and effect leads to hyperinflation and potentially the death of the dollar.

Rich Dad Claims Bitcoin, Gold, and Silver Is the Key To Avoid Being Poor Dad

With the death of the dollar potentially on the horizon, what should people do if the current global reserve currency from the leading world superpower falls out of power?

According to published author, entrepreneur, and investor, Robert Kiyosaki, the best move is to buy Bitcoin, gold, and silver.

WHY IS DOLLAR DYING? 2008 Fed printed $4.5 Trillion to save rich. 2020 Fed will have to print $6-8 Trillion, maybe more to save US economy. There is only $9.5 Trillion in gold in WHOLE WORLD. Buy real gold silver Bitcoin. No paper ETF gold or silver. PhDs at Fed are IDIOTS.

— Robert Kiyosaki (@theRealKiyosaki) April 7, 2020

Kiyosaki is the best-selling author of Rich Dad, Poor Dad, earning himself the nickname “Rich Dad.” He’s also the founder of a company that provides personal finance advice and business education.

Rich Dad suggests that investors buy Bitcoin, gold, and silver as physical assets, and not ETFs to ensure ownership of the underlying asset.

The reason for the suggestion is due to these assets having limited supplies. While the Fed continues to print money left and right, devaluing the dollar, more gold, Bitcoin, or silver can ever be produced – what currently exists, is it.

Related Reading | Will Bitcoin Dethrone The Dollar As Global Reserve Currency?

Because of the capped supply, these assets have a deflationary attribute and investors often look to gold as a safe haven asset during an economic crisis for this very reason. Bitcoin shares many similarities with gold, earning it the nickname of digital gold.

According to Rich Dad, the Fed has already printed $4.5 trillion in USD, or enough for over 30 full Bitcoin market caps, or half of the entire world’s supply of gold at current prices.

And with much more money required to save the economy, the situation for the dollar is only going to get worse.

Featured image from Shutterstock
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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