David Schwartz, the CTO of Ripple, has entered the discussion following a recent tweet by investor and author Robert Kiyosaki, known for his book “Rich Dad Poor Dad.”
In his latest tweet, Kiyosaki addressed a hypothetical scenario regarding the potential absence of gold in Fort Knox, suggesting that this could lead to a complete collapse of the US dollar.
Fort Knox, Bitcoin, Silver, and the Dollar: Insights from Kiyosaki
On Sunday, Kiyosaki shared a tweet reacting to Elon Musk’s recent suggestion that the gold reserves at Fort Knox should be audited.
Musk had referenced a tweet from Senator Mike Lee, who expressed frustration over being denied access to Fort Knox under the pretense of it being a military installation.
Musk playfully questioned what would happen if the gold were no longer present. In response, Strategy’s Michael Saylor reflected the typical Bitcoin perspective: “Bitcoin fixes it.”
Kiyosaki, in turn, began to ponder the implications of an empty Fort Knox, asking what consequences this might entail and offering his followers a rather grim outlook: “The US economy would collapse. The dollar would crash. The world would be in chaos.”
He clarified that he does not genuinely believe that the gold is missing but entertained this scenario to explore its potential outcomes.
Kiyosaki reminded his followers that should gold be absent, he owns Bitcoin, along with physical gold and silver, which might prove valuable as “the US dollar will be toilet paper.” He reiterated his previous prediction, asserting that “silver will be king,” suggesting that silver coins could serve as an alternative to cash, a sentiment he expressed back in 2024.
Ripple CTO Questions This Outcome
David Schwartz weighed in, suggesting that it’s quite possible US citizens may not be overly concerned about the status of gold in Fort Knox. He concluded that the only tangible result he foresees is that “the price of gold would likely go up.”
In a further comment, he acknowledged that while a collapse of the dollar is theoretically within the realm of possibility, he regards it as unlikely.
“The dollar will function exactly the same both before and after this situation, with supply remaining unchanged,” Schwartz concluded.
