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BITCOIN WILL GO PARABOLIC | Robert Kiyosaki Author of Rich Dad Poor Dad

VIDEO TRANSCRIPT

Hey, everybody, Maddie here with altcoin BI’s Happy Thursday. Hope you’re having a great week. We’re discussing today new comments from the author, best selling author, I should say, Robert Kiyosaki, who say there’s a very good chance that Bitcoin may go parabolic in response to what’s happening right now with the economy, with Coronavirus, with this, quote, the unlimited money supply that the Federal Reserve and other central banks are providing. Robert Kiyosaki, of course, is the author of Rich Dad, Poor Dad. We’re gonna take a look at his comments and everything that’s been said. We’re also going to take a look at some of the proposals that are on the table here, courtesy of Business Insider. A little bit of an update from Washington. House Democrats introduced a plan to pay Americans $2000 a month until the economy recovers from covered 19. And we’ll also see related to that on Newsbeat T-C dot.com bitcoin sees a rocketing new user in-flow bill. Looming economic crisis spur adoption. We’re never going to root for an economic crisis to be the catalyst for a cryptocurrency and bitcoin. However, these two things are related, so I don’t want to be a cheerleader for doomsday or the apocalypse. But I think that is going to provide an opportunity for bitcoin to respond if stuff really hits the fan. So we’ll take a look at those stories will also first take a look here at the markets on Quinn market cap dot.com, 200 point five billion dollars, total market cap things up pretty handsomely since yesterday in these last 24 hours, Bitcoin up 3.5, 5 percent. Ethereum up seven-point nine five percent. Other projects similarly up three, four, five, six, seven percent. Oh, yes. Notably up eight-point eight, three percent. At the time of this recording, Bitcoin sits at six thousand nine hundred ninety-nine dollars. Still just shy of that 7 K resistance point dominance right now is sixty-three point nine percent, which is a little bit lower than we’ve been typically seeing lately. So according to Robert Kiyosaki and he’s, by the way, the author of Rich Dad, Poor Dad, which is one of the world’s best selling personal finance books, he said that Bitcoin stands to go parabolic after Cauvin 19 ends. And this is a tweet from April 13th. There’s a series of tweets, actually, he called the current pandemic a great thing for Bitcoin. He also issued the following quote. The reason I endorse Bitcoin is just for one reason. You’re not part of the system. So let’s take a look at what he said specifically. Again, here from the 13th of April is dead broke, referring to the Federal Reserve hidden in recent 2.2 trillion dollar Congress rescue bill was buried, a 425 billion dollar amount for the Fed. Fed has been bailing out the world since 2008. And that’s referring to the 2008 economic crisis, the collapse of Lehman Brothers and others in the housing market. Fed has been bailing out the world since that time. Who bails out the Fed? Now we know we are. Why are Fed and Treasury hiding this from us? Buy more gold, silver and Bitcoin screwed in capital letters. And then a little bit more recently here from the 15th of April. Corona crisis. Great for gold, silver bitcoin. U.S. Government printing ten trillion dollars in fake U.S. dollars to save U.S. Fed printing 10 trillion dollars to save shadow banks. Dollar and bull market for now when the dollar bear market begins. Gold. Silver. Bitcoin parabolic. Best investments today. Do not miss out. And then from later on that afternoon, on the 15th of April. Gold and silver gods. Money. Bitcoin. Open-source. People’s money. Bitcoin. Gold and silver. Important because not controlled by Fed, Treasury or Wall Street. A very important point. Not controlled by anybody other than the algorithm. Get it? Even if unemployed, real silver still available at about $25 for U.S. Silver Eagle, everyone can afford $25. Get it? Some very strong comments. And related to those is this piece on you Dot today. Rich Dad, Poor Dad author regrets not buying bitcoin back in 2009. Well, don’t we all? But a little bit more realistically here. Also, you got today Bitcoin beyond Fed’s control. Anyone can buy. Fraction according to rich dad. Poor dad. You know, he said that you can put twenty-five dollars into a silver eagle. And I believe that’s a coin. But it says sovereign investment, essentially. So if you could put twenty-five dollars into that, you could put twenty-five dollars into a lot of things. And Bitcoin is the isn’t rather the only thing you should be putting perhaps some money into. But everybody if they can afford that. Twenty-five dollars worth of silver. I think it stands to reason. Hey, they can also for twenty-five dollars worth of bitcoin. That’s what’s nice about it being so divisible. So this article here doesn’t really go into much more than what we’ve already seen. It kind of sums up the tweets. We have never really covered Mr Key. Sjakie Again, author of Rich Dad, Poor Dad. I really didn’t know he had this kind of a mindset or that he was into Bitcoin, a cryptocurrency. I had heard before that he was into precious metals as hedges against an economy that maybe he didn’t have too much confidence in. But this, I think, spells it out very clearly. He’s perhaps not a frontline bitcoin bull, but he certainly believes in the idea and the system over the fiat currency system. That is for sure. And I’m a. Loti of the men, I grew up reading some of his material, so this is very encouraging to see. I really like it. It’s heartening news as far as I’m concerned. Let us know your thoughts about it, guys, in the comments below. One last week here before switching gears, a Fed cannot go broke in theory, but people can lose confidence in the Fed and the U.S. dollar. The four hundred and twenty-five billion dollars the U.S. gave the Fed secretly will expand to 4.2 5 trillion of fake dollars into the economy for over 9 trillion dollars in fake Fed money, monopoly money. In other words, when confidence goes. Game over and the International Monetary Fund steps in IMF stands for. I am effort related to everything that Robert Kiyosaki is talking about. Is this news? CHRISSY hear of business? Insider.com House Democrats introduced plan to pay Americans $2000 a month until the economy recovers from COVID 19. This is getting into rather a controversial territory. We’ve kind of covered the relief packages that have been put forward by the Federal Reserve, by President Donald Trump and by other government officials. And I understand that you know, the idea of a stimulus package or relief package can be important in the short term, especially for people that have been laid off. The argument goes that essentially the government is asking you not to participate in the economy. They’re asking you to stay home. They’re asking you to help flatten the curve of this covered 19 pandemic. OK, that’s fair. So if the government wants to impose that rule on you and ban you from participating in what you regularly do to earn an income, then I think it’s fair. It stands to reason that the government should compensate you for that or provide relief to some effect. OK, I get that. But as I’ve discussed before. If the economy is not producing anything. If we’re not productive and we’re not generating actual wealth. If we’re just redistributing what’s already there. All of these stimulus funds, the longer they go on, the more we’re borrowing from ourselves in the future. And that is a problem. And that’s something that personally I stand against. There’s also the argument that at a certain point, the pandemic is perhaps ongoing, but it’s manageable. And the damage done by extending the quarantine and turning a recession perhaps into a depression, that damage is worse even in terms of the death toll. Quantitatively, that’s actually worse than anything the pandemic would have naturally provided on its own. So at a certain point, even if we’re not back to 100 percent, even if the pandemic is still lingering, I think there is an argument to open the economy back up because of that completely collapses. And that’s a very bleak picture. That’s something that’s far worse, again, in my opinion, than whatever the pandemic could muster on its own. But, you know, with that kind of preface aside, I want to ask you guys about what you think about, generally speaking, about these $2000. Whether it’s two thousand, one thousand, more or less, whatever. But what you guys think about this kind of almost universal basic income were in a way experimenting with it. And the catalyst for that, of course, has been Coronavirus. But I just don’t understand the logic here. I keep seeing people personally in my social circle on Facebook pushing for this, praising the idea that now, you know, this is great opportunities to the bed where I am in Canada. We’re not already under a UBI system. And people commenting with a lot of snark that all maybe this will show and this will finally turn the tide and convince people. Generally speaking, I’m not into wealth redistribution. I’m into wealth creation strategies. But that’s just me. But even let’s know for the sake of argument, I’ll play devil’s advocate here. Even if the idea is to address the issue of wealth inequality. So even if the economy can function, let’s say you’re still productive as a nation. I don’t think you would be if everybody were to receive UBI. But let’s say for the sake of argument that that was the case. And the idea is just to get everybody on the same page, to kind of prop up those that are struggling in society and provide a UBI ice, that everybody has something available and everybody has to spend money in their pocket. Well, again, my big concern is that if everybody has automatically generated funds that they’re not going to be producing anymore. And there are all kinds of other implications that follow. For example, the regular cost of groceries and day to day essentials are going to rise because the cost of labour is going to go up. But again, all of that aside, for the time being, if you just want everybody to be equal and everybody to have a good source of income. Okay, I get it. That’s a noble intention. That’s a good-hearted goal. But are you not allowed to then invest that money? What happens to those people that if they get that $2000 a month, maybe they. I don’t know. Maybe they win the lottery or maybe they invest in wildly successful stocks. Maybe they start a business and then maybe that $2000 per month snowballs into twenty thousand two hundred thousand dollars a month. Next thing you know, they’re millionaires. I mean, how do you compensate for that? How how do you, through government authority, dictate that everybody should be on the same level of wealth? Financially, it’s just not possible. And what happens if you’re a drug addict? Are you not able to also just blow all your money on drugs or alcohol? Or maybe you make bad decisions, maybe you lose it at the racetrack? To me, there’s no quick and easy solution to quality. I don’t think it exists. That’s a hard truth and a hard pill that. Many of us haven’t yet accepted, but that is my personal take so long rant aside, we have this news about allocating $2000 per month to every American citizen since the bill currently being discussed in Washington. So in brief, the Emergency Money for the People Act, introduced by Rep. Tim Ryan and Ro Kanha, would give $2000 U.S. a month to Americans over the age of 16 who make less than one hundred and thirty thousand dollars a year. So the vast majority of people, the payments would continue for at least six months and would last until unemployment falls to pre coronavirus levels, quote, a one time U.S. Twelve hundred dollar check isn’t going to cut it, CARNEY said. Americans need sustained cash infusions for the duration of the crisis in order to come out on the other side alive, healthy and ready to go back to work. I mean, already I don’t agree with the premise here. Let’s say the Coronavirus has done serious damage to the economy and that clause here about the unemployment level. Let’s say that doesn’t return to standard levels for two years, three years, five years. So these individuals, according to these proposed rules, are just going to continue collecting $2000 a month for five years until unemployment figures retrace to what they were. And by the way, for them to retrace is going to be very significant because they were at historical lows before the Coronavirus started. So already I disagree with some of the terms here and some of the rhetoric that’s being thrown around. I do agree in the short term that there is room to provide relief. As I said, the federal government is asking us to stay home. They’re asking us not to engage in our careers and our jobs in most cases. Therefore, if that is the case and that’s something that that is enforced, then, yes, they ought to compensate by helping us out. But there’s got to be an end to it. It’s gonna have a very strict time horizon and it’s got to have a due date or at least an aspirational one where we can all kind of get back to things and get back to work and life as normal because the longer this continues, the more the economic impacts are gonna end. The bad economics impact is what I’m saying. The more those are going to outweigh any natural or organic impacts, including the death toll caused by the pandemic itself. Finally, here on Newsbeat DC, dot.com bitcoin sees rocketing new user in-flow. Is Will looming economic crisis spur adoption again? Nobody’s rooting for a global pandemic or an economic crash or an apocalypse in order to help prop up the price and the performance of Bitcoin and other cryptocurrencies. However, they do kind of go hand in hand for a lot of the libertarian-oriented individuals such as myself that feel that there’s too much involvement already in government when governments start to fail, that’s when people like myself when economies start to falter, that’s when people like myself start to see a little bit, perhaps put a little bit more into Bitcoin, perhaps get excited about it. It’s not to say I’m rooting against the system, but unfortunately, there is a correlation between the two. And I think the argument can be made here that the economic crisis will spur adoption will spur more important than anything, the legitimacy of Bitcoin. So check out this article in full. Let us know your thoughts about that in the comments below. But that about wraps it up for today. Everybody, let me know your thoughts about those mini rants, I went on. But as always, to be sure, you’re following us on all the regular social media channels. Keep checking back into altcoin buys dot I o for all the latest. Go ahead. Like subscribe share and at the belt receive notifications of course, if you’ve enjoyed today’s video. Best of luck. If you choose to invest on this Thursday. Have a great one, everybody, and we’ll see you again tomorrow on Friday, hopefully in our next video. Take care.

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