Well-known investor Robert #Kийocaки criticized American economist and Bitcoin (BTC) opponent Peter Schiff for his misunderstanding of financial principles. He said that Schiff resides in Puerto Rico with other "financial experts" due to limited knowledge.
According to Kiyosaki, Schiff lacks competence in areas such as debt and real estate; he only understands gold and silver. If Schiff understands how to effectively use debt to invest in real estate, he will not need to live in Puerto Rico to receive tax benefits.
They [Schiff and the financial experts] know a lot about a little, but they don't know everything... There's nothing wrong with Puerto Rico, but I don't want to live there with other financial experts. Understand debt, real estate and taxes, and live anywhere in the world and pay zero taxes, advised Kiyosaki.
The fact is that the founder of Euro Pacific Bank, Peter Schiff, was suspected of tax evasion. Some of the account holders are under investigation, including on suspicion of money laundering. In 2022, the bank was closed by the authorities of Puerto Rico due to non-compliance with requirements.
