AkashiBtc on Nostr: In his book **Fake**, Robert Kiyosaki criticizes fiat money, which he calls "fake ...

In his book **Fake**, Robert Kiyosaki criticizes fiat money, which he calls "fake money." Here is a summary of the key points on this topic:

1. **End of Gold Convertibility**: Kiyosaki explains that when Richard Nixon ended the convertibility of the US dollar into gold in 1971, the dollar became a fiat currency, that is, a currency whose value is based on trust in the government rather than on intrinsic value.

2. **Impact on Social Class**: According to Kiyosaki, this transition has enriched the rich while impoverishing the poor and the middle class. He argues that fiat money allows governments and banks to manipulate the economy to their advantage.

3. **Criticism of Financial Institutions**: Kiyosaki also criticizes financial and educational institutions for not teaching people how money really works. He claims that this leaves the majority of people in ignorance and financial dependence.

4. **Economic Crises**: He links fiat money to various economic crises, such as the one in 2008, where risky financial assets caused a major economic collapse.

In short, Kiyosaki sees fiat money as a tool of economic manipulation that favors the wealthy and disadvantages other social classes.