Renowned author and financial expert Robert Kiyosaki issued a stark warning about the current state of the American empire. He highlighted the growing US debt and identified Bitcoin (BTC), gold and silver as potential saviors. Additionally, investors drew parallels between the American Empire and the Roman Empire to highlight why the country is in crisis.
Robert Kiyosaki advocates Bitcoin as a hedge against massive debt crisis
Kiyosaki noted that a staggering $68 billion is expected to be bet on next week’s Super Bowl. He also pointed out that such huge bets were made amid the country’s record debt levels, which he said were unsustainable. The United States has been in debt since its founding, and events such as the Revolutionary War caused the amount to skyrocket, reaching more than $75 million by 1791.
Furthermore, despite a reduction in land sales in 1835, the debt increased dramatically during the Civil War, reaching nearly $3 billion by 1865. Additionally, U.S. debt steadily increased throughout the 20th century, reaching approximately $22 billion after the world wars. World War I.
Recent notable spikes occurred due to the Afghanistan and Iraq wars, the Great Recession of 2008, and the COVID-19 pandemic. From fiscal 2019 to fiscal 2021, spending jumped by about 50%, mainly due to the impact of the new coronavirus infection. Over the past century, federal debt has skyrocketed from $403 billion in 1923 to $33.17 trillion in 2023, according to U.S. government fiscal data.
Drawing parallels with history, Kiyosaki suggested that, like in ancient Rome, too much focus on entertainment can distract from underlying economic issues. Therefore, Kiyosaki warned Americans against such entertainment-based investments, noting that “history repeats itself if stupidity is repeated.” Kiyosaki suggested considering alternative assets such as gold, silver, and Bitcoin as better investment options.
Additionally, he recently warned of a weakening U.S. economy. Kiyosaki advocated the adoption of Bitcoin, noting that the stock and bond markets could soon experience significant declines. He also advised lowering confidence in fiat currencies such as the dollar, as they could be affected by devaluation.
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The end of the American empire?
The United States remains the dominant global power with military superiority and control over critical sea lanes. It controls about 30% of the world’s wealth and has great influence on the global financial system. But the conflict in Afghanistan posed a major challenge to US power projection, while tensions with Russia over Ukraine strained global influence.
The rise of China poses a serious challenge to US primacy, leading to a shift in focus from traditional Middle East conflicts to competition with China. Despite maintaining its economic centrality and military size, the United States faces criticism and perceptions of decline, evident in its struggles to stabilize regions such as Afghanistan. There is.
Turkey and Iran also pose threats to the country’s global influence. The resurgence of Turkish and Iranian nationalism and India’s remarkable economic growth highlight changing power relations. Meanwhile, the UK’s continued alignment with US interests highlights the depth of our alliance, regardless of political change.
Meanwhile, in the United States, both the Donald Trump and Joe Biden administrations faced challenges in maintaining global dominance. Although President Trump pursued an “America First” policy, his administration continued traditional U.S. policies such as the war in Yemen and tensions with Iran.
Similarly, President Biden is working to adapt U.S. strategy amid growing challenges from China and continuing conflicts around the world. Moreover, as Robert Kiyosaki has highlighted, the country’s debt trap, with more than $33 trillion in debt, makes matters worse.
President Vladimir Putin emphasizes the collapse of the US dollar
Meanwhile, the US dollar’s dominance is heating up. Russian President Vladimir Putin has criticized the use of the US dollar in economic sanctions, calling it a “strategic mistake”. In an interview with Tucker Carlson, he said, “Using the dollar as a tool in foreign policy warfare is one of the biggest strategic mistakes.”
Trade has halted amid harsh US sanctions following Russia’s 2022 invasion of Ukraine, prompting a shift to the Russian ruble and Chinese yuan to replace the dollar in international trade. Therefore, President Putin suggested that these sanctions caused great damage to the US economy, thereby emphasizing the decline in the dollar’s dominance.
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