David Schwartz, Ripple CTO, has joined the remark thread underneath the latest tweet of an investor and creator of the “Wealthy Dad Poor Dad” guide Robert Kiyosaki.
In his latest tweet, the monetary guru spoke a couple of hypothetical state of affairs that gold could be gone from Fort Knox and the way this may occasionally crash the US greenback completely.
Fort Knox, Bitcoin, silver, and greenback: Kiyosaki
On Sunday, Robert Kiyosaki printed a tweet to touch upon Elon Musk’s latest name that Fort Knox, the place the strategic gold provide of the US is saved, must be audited.
Musk then issued his message as he quoted a tweet by Senator Mike Lee who complained that each time he needed to go to Fort Knox he was rejected on the idea that that is 2a army set up.”
Musk requested maybe jestingly what if the gold will not be there any extra. The chief chairman of Technique Michael Saylor then responded in a conventional method of all Bitcoiners: “Bitcoin fixes it.”
Now, Kiyosaki started to invest “what if” Fort Knox is empty of gold. What would occur then, he asks and provides his followers a solution: “The US financial system would collapse. The greenback would crash. The world can be in chaos.”
Is not there a major chance that folks may simply determine that it does not actually matter all that a lot whether or not the gold is there or not? The worth of gold would probably go up, however apart from that, there actually won’t be a lot influence.
— David “JoelKatz” Schwartz (@JoelKatz) February 23, 2025
He additionally stated immediately that he doesn’t imagine gold will not be there however nonetheless he modelled this case to dwell on its potential penalties.
Kiyosaki reminded the group that in case gold is lacking, he owns Bitcoin, bodily gold and silver, which can are available helpful since “The US greenback might be bathroom paper.” The monetary skilled additionally doubled down on his earlier prediction, saying that “silver might be king.” Silver cash can be utilized as an alternative of money, he tweeted as soon as in 2024.
Ripple CTO doubts this final result
David Schwartz responded saying that there’s a probably choice that US residents wouldn’t care an excessive amount of if gold is there in Fort Knox or not. The one potential final result seen by Ripple CTO on this state of affairs is that “the value of gold would probably go up.”
In one other remark, he admitted {that a} greenback collapse is theoretically potential on this case, however he believes it to be implausible.
I agree that it will make sense for that to occur, however that does not imply that it’ll. The greenback will work exactly the identical each earlier than and after this, the availability would be the similar, and I am not satisfied the demand will change although it ‘ought to’.
— David “JoelKatz” Schwartz (@JoelKatz) February 24, 2025
“The greenback will work exactly the identical each earlier than and after this, the availability would be the similar,” Schwartz identified.
