SpaceX and Tesla CEO Elon Musk thinks fiat currency is a scam – and it is so normalized that most of the time, we don’t realize that it’s a scam. A majority of people share a similar viewpoint, including Robert Kiyosaki, the author of Rich Dad Poor Dad. Kiyosaki has frequently cautioned against investing in the US dollar or other fiat currencies, calling it ‘fake money.’
Elon Musk Thinks Fiat Currency Is A Scam:
The CEO of SpaceX and Tesla, Elon Musk, thinks that fiat currency is a scam. X user Wall Street Silver shared a post on the social media platform with the question, ‘What’s a scam that’s so normalized that we don’t even realize it’s a scam anymore?’ on Sunday. Musk actually replied to the post – his reply read, ‘Fiat currency.’
Musk has criticized fiat currency for a long time. In February 2021, Must tweeted, “When fiat currency has a negative real interest, only a fool won’t look elsewhere.” At the time, he had also compared fiat currencies with BTC, saying, “Bitcoin is almost as bad as fiat money. The true battle is between fiat & crypto. On balance, I support the latter.”
The Tesla CEO is not alone in believing that fiat currencies are nothing more than a Ponzi scheme, fraud, or scam. On Tuesday, Jeff Ross, the founder of Vailshire Capital, wrote on X, “The fiat currency system exists to methodically extract purchasing power from its participants.”
Plus, Robert Kiyosaki, the author of Rich Dad Poor Dad, also called fiat currencies a scam and forecasted the death of the USD. The well-known author called fiat currencies ‘fake money,’ while silver and gold happen to be ‘god’s money,’ and bitcoin happens to be ‘people’s money.’
In July, he wrote, “Giant crash [is] coming … Get into real gold, silver, bitcoin asap … End of fiat (fake) money [is] near.”
Additional Reading:
