'Bye-bye US dollar!' Kiyosaki warns as BRICS currency rumors resurface

'Bye-bye US dollar!' Kiyosaki warns as BRICS currency rumors resurface

Robert Kiyosaki has once again warned about the impending doom of the US dollar.

The author of Rich Dad Poor Dad urged people to invest in cryptocurrencies and precious metals.

He claimed that the BRICS nations have announced a new 'gold-backed' currency, although there has been no formal confirmation of such a development, and warned of potential hyperinflation.

His comments come as Russian President Vladimir Putin met Prime Minister Narendra Modi during a closely watched visit this week.

Kiyosaki's warning and investment advice

Kiyosaki took to social media platform X to share his thoughts on the matter. He wrote, "BRICS: Brazil, Russia, India, China, South Africa announces the 'Unit' — a gold-backed 'money.' Bye-bye US dollar!"

This claim has not been officially confirmed by BRICS nations.

The investor further warned that those who hold US dollars could be majorly affected by hyperinflation.

He reiterated his mantra of investing in gold, silver, Bitcoin and Ether as protective measures against this potential crisis.

Speculation around BRICS currency continues

The idea of a US dollar alternative has been floated several times in the last two years, despite no official confirmation from BRICS countries.

The speculation grew when Putin was seen holding a prototype "BRICS banknote" at the Kazan Summit in October 2024.

However, senior officials have since clarified that there are no immediate plans to launch a new currency within the bloc.

Putin's stance on de-dollarization

The de-dollarization debate peaked at the 2024 BRICS Summit when Putin showcased what appeared to be a sample BRICS note.

However, he later toned down his earlier aggressive stance on reducing dollar dependence.

He clarified that the aim is not to ditch the US dollar-based SWIFT system but to counter its "weaponization" by creating alternative ways for BRICS nations and their partners to conduct trade in local currencies.