Renowned ‘Rich Dad Poor Dad’ Author Predicts Impending Market Crash, Cautious on BRICS Impact on US Dollar
Renowned Author Robert Kiyosaki Warns of Impending Stock Market Collapse and Historic Economic Downturn in the US.
Robert Kiyosaki, the bestselling author of “Rich Dad Poor Dad,” recently expressed his concerns about the current state of the stock market, suggesting that it is teetering on the edge of a severe crash, potentially leading to a depression. While Kiyosaki himself prefers to focus on entrepreneurial ventures rather than stock or bond investing, he feels compelled to caution others about the looming risks.
In a tweet to his extensive following of 2.4 million on Twitter, Kiyosaki shared his apprehensions, stating, “I do not play the stock or bond markets. As an entrepreneur, I value having direct control too much. However, I cannot ignore the numerous indicators pointing towards an imminent and severe stock market crash. If your financial future relies heavily on stocks and bonds, I urge you to exercise caution and consider seeking professional advice. There is a genuine concern that we may be heading towards a depression.”
Kiyosaki, who is also an advocate for alternative assets such as Bitcoin (BTC), attributed the recent market strength to the removal of the debt ceiling. Given his somber outlook on the US economy, he intends to continue investing in tangible assets like Bitcoin, silver, and gold, which he considers as “real assets.”
Explaining the recent surge in the stock market, Kiyosaki shared, “The reason behind the stock market’s upward trajectory is the removal of the ‘debt ceiling.’ This removal allows the national debt to rise in parallel with the stock market. As a result, the rich become richer while America’s overall financial health deteriorates. It’s a saddening reality.”
In the face of these circumstances, Kiyosaki remains steadfast in his commitment to real assets. He emphasizes the importance of embracing “real money” and tangible resources like gold, silver, and Bitcoin. According to him, these assets will offer more stability and protection against the impending decline of the US dollar.
Ultimately, Kiyosaki predicts a rapid devaluation of the US dollar, attributing it to irresponsible government spending and the intentions of the BRICS nations (Brazil, Russia, India, China, and South Africa) to establish their own gold-backed currency. He asserts, “A colossal crash is on the horizon, and the era of fiat currency, often referred to as ‘fake money,’ is coming to an end. The upcoming BRICS meeting in South Africa on August 22 is poised to drive the final nail into the coffin of fiat currency. I strongly advise allocating your investments towards real assets such as gold, silver, and Bitcoin without delay. Take care, as the demise of fiat money is imminent.”
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.