Federal Reserve Chairman, Jerome Powell, solidified his hawkish position on Friday by talking about the importance of rising interest rates to battle inflation. This caused the world’s financial markets to crash.
In response to the bleak market situation, Robert Kiyosaki, the best-selling author of “Rich Dad, Poor Dad,” has warned all investors about a potential market crash that may be more catastrophic than the one that transpired in 2008.
This time around, the risks are higher and the entire crypto ecosystem is at stake. In addition, he predicted that the current global economic downturn would also impact real estate, stocks, gold, and silver.
Investors, Brace Yourself!
Robert Kiyosaki, the author of the best-selling book “Rich Dad Poor Dad”, has come out with alarming news of a global downturn. Let’s analyze the cautionary indicators that Kiyosaki emphasized.
High Inflation: The middle class will be wiped out by “high oil inflation,” according to a tweet from Kiyosaki on Friday. Every market is collapsing, he claimed.
Frequently made crash remarks: On Sunday, he tweeted in reference to the October 2013 book “Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming… and How You Can Prepare Yourself and Profit From It”!
Kiyosaki has claimed that the US stock market is in the “biggest bubble in history,” citing rising prices for commodities like oil, real estate, and stocks. The possibility of a slump, hyperinflation, and “everything bubble turning into everything bust” has also been mentioned by him.
More Pain for Small players: He further explained his worries about the present bear market trend, comparing it to 2008, when everything “went on sale” and provided a tremendous opportunity for wealth creation. The renowned author declared: “That accident is here, in line with the prophecy of a huge accident mentioned in his book. Many thousands of people will suffer.
Trend Investment: It is time for him to “become rich,” according to Kiyosaki, who advised his 2 million Twitter followers not to follow those who have been wiped out.
Similarly, he urges his followers not to just “follow the tide” as that is not a surefire way to success. It is important to make well-thought-out decisions.
The horror of Depression: The acclaimed scholar has repeatedly issued an alert over the market’s downward trend. He recently predicted that equities and bonds will drop, causing the largest bond crash since 1788. He also issued a warning that inflation might trigger the Greater Depression, while predicting that a civil upheaval was on the horizon.
Capitalize on Gold, Silver & BTC
He asserted last week that his viewpoint of Treasury bonds had altered after listening to the viewpoint of the economist Harry Dent. The Rich Dad Poor Dad author has been advising investors to purchase gold, silver, and Bitcoin since the US dollar is weakening.
Hence, based on his personal assessment of the market conditions, he insisted the buyers bet on silver and said that it is the best possible investment at the time.
Kiyosaki is also waiting for a chance to get Bitcoin at a lower cost. In June, he said he would hold off on buying cryptocurrencies until they tested $1,100. He said he was holding money and would wait until July to buy Bitcoin.
This week, BTC fell beneath the $20K mark. BTC Price is trading at $19,629 at the time of writing, a drop of more than 9% from the previous week. The total market value for cryptocurrencies is estimated to be over $944 billion, according to data from Coinmarketcap.
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