Rich Dad Poor Dad Author Says Biggest Crash in Decades Coming, Details Impact on Bitcoin, Gold and Silver
Rich Dad Poor Dad author Robert Kiyosaki warns of a major financial crash that he believes will have consequences for Bitcoin and precious metals.
The best-selling author says to his 2.1 million Twitter followers that the biggest economic disaster since the 1990s is looming because of irresponsible US federal monetary policy.
“EVERYTHING BUBBLES into EVERYTHING CRASHES. I warned in my books, the biggest crash has been built since the 1990s. Rather than fixing problems FED printed FAKE $. IN [the] Everything Crash everything crashes even gold, silver, BC. Your ultimate asset in a giant crash, your financial wisdom.”
Kiyosaki describes what he sees as a vicious circle of monetary policy in the United States that starts with an unreasonable amount of borrowing, and ends with the USD devaluing.
According to the Bitcoin bull, the best defense against such an economic environment is BTC, gold and silver.
“1. The US borrows too much money. 2. The US keeps interest rates low. 3. Low interest rates force the US to borrow more $ to buy more US bonds 4. to keep interest rates low 5. Causes inflation 5. Forces interest rates up 6. Debt becomes too expensive 7. US dollar dies. BUY Gold-Silver-Bitcoin.”
Kiyosaki said in a recent interview that he was waiting for a Bitcoin crash to buy more BTC, noting that he was generally bullish on the flagship digital asset.
“I’m very bullish and bullish on blockchain, so if Bitcoin goes down to $1,000, I support the truck, but if it goes to $25,000, I don’t buy anymore…
I then remember gold [in the year] 2000 was $300 per ounce. You can wait until it goes to $3,000 or $30,000 an ounce before you buy that’s what stupid people do – they buy at the top of the market.
They all jump in like idiots. I’m waiting for the next crash, same with real estate. Real estate is crashing right now [and] I get really excited about it, everything is on sale… I don’t want to pay retail, I want to pay wholesale. It is ordinary capitalism.”
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Featured image: Shutterstock/Vlad_Nikon
