Bitcoin and other cryptocurrencies are now challenging the hegemony of the U.S. dollar and other fiat currencies.
In May 2020, a historic event cut the daily incoming supply of Bitcoin from 1800 Bitcoin per day to 900 Bitcoin per day-a sort of quantitative hardening-opposite of what the Fed is doing by printing trillions of dollars. Central banks, in simplest terms, create money out of nothing. They create "fake money" and loan it to governments.
Bitcoin, on the other hand, is completely decentralized meaning that nobody can manipulate the market and there is not any single point of failure. It will be interesting to see how long the Central Banks will tolerate the competition from cyber money before there is a showdown.
Host Robert Kiyosaki and guest Anthony Pompliano examine the value of Bitcoin in the current economy and how it may create a quasi gold standard.
Anthony Pompliano is an American entrepreneur and investor. He served in such companies as Facebook and Snapchat and he is a founder of Morgan Creek Digital Assets, a multi-strategy investment firm focused on providing access to blockchain technology and digital assets for institutional clients and wealthy family offices.
Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1 personal finance book of all time. His book titles hold four of the top ten spots on Nielsen Bookscan List's Life-to-Date Sales from 2001-2008 alone. Robert is an educational Entrepreneur and real estate tycoon, co-creator of the CASHFLOW (R) board game, founder of the financial education-based Rich Dad Company and author of New York Times Bestsellers: Rich Dad's Conspiracy of the Rich, and Unfair Advantage: The Power of Financial Education. Robert Kiyosaki is among the first to have warned Americans of an impending collapse in the US real estate market, famously prophesizing, "Your home is not an investment," years before the Panic of 2008. His latest book is Fake: How Lies are Making the Poor and the Middle-Class Poorer.