David Schwartz, Ripple CTO, has joined the comment thread under the recent tweet of an investor and author of the “Rich Dad Poor Dad” book Robert Kiyosaki.
In his recent tweet, the financial guru spoke about a hypothetical situation that gold might be gone from Fort Knox and how this may crash the US dollar entirely.
Fort Knox, Bitcoin, silver, and dollar: Kiyosaki
On Sunday, Robert Kiyosaki published a tweet to comment on Elon Musk’s recent call that Fort Knox, where the strategic gold supply of the US is stored, should be audited.
Musk then issued his message as he quoted a tweet by Senator Mike Lee who complained that every time he wanted to visit Fort Knox he was rejected on the basis that this is 2a military installation.”
Musk asked perhaps jestingly what if the gold is not there any more. The executive chairman of Strategy Michael Saylor then responded in a traditional manner of all Bitcoiners: “Bitcoin fixes it.”
Now, Kiyosaki began to speculate “what if” Fort Knox is empty of gold. What would happen then, he asks and gives his followers an answer: “The US economy would collapse. The dollar would crash. The world would be in chaos.”
Isn’t there a significant possibility that people might just decide that it doesn’t really matter all that much whether the gold is there or not? The price of gold would likely go up, but other than that, there really might not be much impact.
— David “JoelKatz” Schwartz (@JoelKatz) February 23, 2025
He also said straight away that he does not believe gold is not there but still he modelled this situation to dwell on its potential consequences.
Kiyosaki reminded the community that in case gold is missing, he owns Bitcoin, physical gold and silver, which may come in useful since “The US dollar will be toilet paper.” The financial expert also doubled down on his earlier prediction, saying that “silver will be king.” Silver coins can be used instead of cash, he tweeted once in 2024.
Ripple CTO doubts this outcome
David Schwartz responded saying that there is a likely option that US citizens would not care too much if gold is there in Fort Knox or not. The only possible outcome seen by Ripple CTO in this situation is that “the price of gold would likely go up.”
In another comment, he admitted that a dollar collapse is theoretically possible in this case, but he believes it to be implausible.
I agree that it would make sense for that to happen, but that doesn’t mean that it will. The dollar will work precisely the same both before and after this, the supply will be the same, and I’m not convinced the demand will change even though it ‘should’.
— David “JoelKatz” Schwartz (@JoelKatz) February 24, 2025
“The dollar will work precisely the same both before and after this, the supply will be the same,” Schwartz pointed out.
