Rich Dad Poor Dad author Robert Kiyosaki had the Internet up in arms over one of his recent social media posts that inaccurately insinuated that Donald Trump had “fired” Jerome Powell, the Chair of the US Federal Reserve.

“‘YOU’RE FIRED:’ When President Trump promised to make the US the CRYPTO Capital of the planet…” wrote Kiyosaki on X. “He not only made good this threat to fire Fed Chairman Jerome Powell…. He also fired the Marxist FED.” The best-selling finance book’s author went on, “Good-bye Federal Reserve Bank.”

By taking aim at Powell, Kiyosaki voiced his enthusiasm about the possibility of decentralised financial systems taking charge, especially with cryptocurrency surging as a perceived replacement to the Federal Reserve’s power with fears of the US dollar’s instability on the rise.

Powell not actually fired: Fed Governor’s exit, Trump on Fed Chair

Instead of the central bank chief’s exit, Fed Governor Adriana Kugler made headlines on Saturday (US time) following the announcement that she is resigning several months before her term finishes. While Powell still remains in his seat at the bank (term runs through May 2026), Kugler’s departure has undoubtedly made way for a significant vacancy that Trump would want to fill with one of his own appointees, especially since he has been trying his all to gain full control over the executive branch.

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In light of the Fed governor’s exit, Trump posted on his social media platform: “‘Too Late’ Powell should resign, just like Adriana Kugler, a Biden Appointee, resigned. She knew he was doing the wrong thing on Interest Rates. He should resign, also!”

Ahead of the weekend, the US president called for the Fed Chair’s power to be stripped. Continuing his verbal onslaught on Powell, the MAGA leader went on to send fresh warnings and threats to the American banker. Demanding him to “substantially” lower interest rates, Trump urged the board of governors to “ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE.”

Ever since the Republican politician came back to power in January, he has been pushing Jerome Powell to resign, calling him “too slow” among other insults. Despite initial chatter that he had drafted a termination letter for the Fed Chair, the POTUS ultimately clarified that he’s “not planning” to fire the Princeton graduate. “I don’t rule out anything, but I think it’s highly unlikely,” the American leader said in July.

On the off chance Trump does find any mismanagement on the part of Powell in the US central bank’s $2.5 billion renovation project, then that becomes a different conversation altogether. “There could be something to that. But I think he’s not doing a good job. He’s got a very easy job to do,” the president added.

Back in April, Donald Trump was asked whether he had the authority to remove Powell from his post. At the time, he said, “If I want him out, he’ll be out of there real fast, believe me. He’s also endlessly fantasised about “Powell’s termination” on social media.

Netizens fume at Robert Kiyosaki for spreading lies

Given the actual situation, while tensions surrounding the possibility of Trump firing Powell stay ever-renewed, the Fed Chair hasn’t yet actually left the building. And so, netizens had all the more reason to voice their fury at the Rich Dad Poor Dad author for spreading false claims.

“Literally none of this happened,” someone wrote in the quote replies. Someone else chimed in, “Ummm I don’t think Powell has been fired. Did I miss something?”

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Many stumbling across Kiyosaki’s post remained confused about what his comments actually meant, as Powell hadn’t really been fired. A crypto vs Fed debate also ensued in the comments.

An account argued: “Trump’s Fed overhaul signals the death knell for centralized money control—paving the way for crypto to unleash unprecedented economic velocity. Data shows Bitcoin’s market cap surging 15% post-announcement, drawing billions from fiat havens. Freedom’s bull run begins.”

“Killing the Fed to boost crypto feels like burning the barn to grow better corn. Careful what you wish for—liquidity dries up fast without a lender of last resort,” countered a value investor. “The Fed isn’t going anywhere,” someone else jumped in.

Another user wrote: “President Trump’s bold vision to position the US as the crypto capital of the world is a game-changer. His stance against the Federal Reserve signals a seismic shift. Exciting times ahead for innovation in finance!”

A third person questioned: “Do we really need the central banks?” A fourth said: “Incredible news, the future looks brighter for crypto and freedom in America.” Yet another user replied, “I believe Trump is transitioning. Jerome is out, and the FED is being softly replaced.”

“As of now, the Federal Reserve still exists and continues to operate as the central bank of the United States,” wrote another X user. “Any significant changes to its structure or leadership would involve a complex legal and institutional process. Healthy debate about monetary policy is important, but it’s best approached with accurate information and a focus on long-term economic stability.”

Earlier this week, a White House cryptocurrency report laid out a comprehensive framework that Trump hopes to put in place to boost the transition to the digital asset landscape in the US. Billed as “the most comprehensive piece of work on digital assets that’s ever been produced,” the 160-pade controversial document has already been positioned as the US president’s mission statement on the path to making the nation the “crypto capital of the world.”

“By implementing these recommendations, policymakers can ensure that the United States leads the blockchain revolution and ushers in the Golden Age of Crypto,” read a fact sheet officals shared ahead of the report’s release.