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ToggleRich Dad Robert Kiyosaki today (5th) named 1974 as a year that changed the future, when the petrodollar system and the ERISA retirement law were established, but half a century later, the historical framework is crumbling.
Seed 1: The birth of the petrodollar and its loosening in 2026
In 1971, Nixon announced that the dollar would abandon the gold standard. After the dollar lost its gold anchor, Kissinger immediately launched diplomatic mediation. In 1974, the United States and Saudi Arabia reached an agreement: oil would be priced in dollars, and petrodollars would flow back to purchase US Treasury bonds, thus giving the dollar a new "oil anchor".
This system has sustained global demand for the dollar for half a century. Kiyosaki points out that now, "in 2026, the world is on the brink of an oil war."
The context of this statement is not entirely abstract: Iran plans to charge passage fees in the Strait of Hormuz but will not accept US dollars; the strait controls about 20% of the world's oil traffic; the mBridge cross-border payment platform promoted by BRICS has processed more than $55.5 billion in transactions, 95% of which were settled in digital yuan.
The petrodollar system didn't collapse suddenly one day, but was gradually eroded at these points. Kiyosaki believes this is one of the structural reasons for the "soaring" inflation.
Seed Two: ERISA and the Retirement Bomb of the Baby Boomer Generation
Also in 1974, the United States passed the Employee Retirement Income Security Act (ERISA). Prior to this, most American employees enjoyed defined contribution retirement benefits, which were equivalent to employers promising a fixed monthly payment for life. After ERISA, the system largely shifted to defined contribution systems such as 401(k) and IRA, with investment risk now entirely borne by the individual.
Kiyosaki writes, “Millions of baby boomers are about to discover that they have no income once they stop working.” This prediction is gradually coming true: currently, about 45% of baby boomers have zero retirement savings; 2024 to 2030 will be the “peak retirement season,” but two-thirds of them are not financially prepared.
Even more troubling is that the U.S. Social Security Trust Fund is projected to run out around 2032 or 2033, while Medicare Part A is expected to run out around 2040. He described the later years of millions of baby boomers as "homeless or living in SUVs."
Kiyosaki's recommendations: Gold, Silver, Bitcoin
Faced with these two structural risks that are closing simultaneously, Kiyosaki's advice remains the same: "Continue to store real currencies: gold, silver, and Bitcoin, and continue to invest in personal financial education."
His previous price targets were: $250,000 for Bitcoin, $27,000 for gold, and $100 for silver. Based on current market prices, gold is around $4,685 (having fallen from its January high of $5,600), and Bitcoin is around $66,500 (its upward momentum has been hampered by escalating US-Iran tensions). Both are still quite far from his price targets.
Kiyosaki also raised the old question again: "Why don't our schools teach students about money? Don't we all use money?" He has been asking this question since 1997, and still hasn't received a satisfactory answer.
