'Rich Dad Poor Dad' author Robert Kiyosaki says cash is trash - and touts bitcoin as 'real money' after previously slamming it as speculative play
as US inflation hit 40-year highs last year.
Kiyosaki's"cash is trash" statement clashes with recent views from other market experts including Ray Dalio and Wall Street analyst Jim Bianco, who have warmed up to the greenback's high yields following the Federal Reserve's aggressive interest-rate increases over the past year aimed at taming inflation.
Rising rates encourage saving over spending as they boost returns from bank accounts an dn other interest-bearing financial instruments such as money-market funds. But elevated borrowing costs can also lead to a slump in demand for goods and services, slowing the economy and dragging down stocks and other assets.
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