Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Robert Kiyosaki Warns Fed Rate Hikes Will Destroy US Economy – Says Invest in ‘Real Money’ Naming Bitcoin – Finance Bitcoin News
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that the Federal Reserve will destroy the American economy with interest rate hikes. He advises people to invest in “real money”, citing bitcoin as an example.
Robert Kiyosaki on Fed rate hikes, US economy, Bitcoin
Rich Dad Poor Dad author Robert Kiyosaki is back with more warnings about the US economy and advice on where investors should put their money.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. More than 32 million copies of the book have been sold in over 51 languages in more than 109 countries.
On Friday, Kiyosaki tweeted that “savers are losers,” elaborating:
Today, America’s debt is in the hundreds of trillions. REAL INFLATION is 16% not 7%. Fed raising interest rates will destroy the US economy. The savers will be the biggest losers. Invest in REAL MONEY. Gold, silver and bitcoin.
A number of economists, such as those at brokerage firm Nomura Securities, are predicting a 100 bps increase in the Fed’s benchmark interest rate in the short term next week. Investment strategist Ed Yardeni told CNBC on Friday that he thinks the Fed “is going to come around and conclude that maybe just get it over with, maybe 100 basis points instead of 75 basis points. And then maybe one more go after that.”
Some people, such as Tesla CEO Elon Musk and Ark Invest CEO Cathie Wood, have warned that a major Fed rate hike risks deflation in the US economy.
Kiyosaki has repeatedly warned that the biggest crash in world history is coming. In April he said that all markets are crashing. He has recommended gold, silver and bitcoin before. But recently he said that gold is expensive, calling silver the best investment value today.
Last week, he urged his mailing list subscribers to get into cryptocurrency now, ahead of the biggest crash in world history.
The famous author has been advising investors to buy bitcoin for quite some time, stating for months that he is waiting for the price of the crypto to bottom out before entering. After revealing that he was waiting for BTC to test $1,100, he said in July that he was in a cash position ready to buy the cryptocurrency. At the time of writing, bitcoin is trading at $20,103, down 6% in the last seven days and 14% in the last 30 days.
What do you think of the comments and advice of Rich Dad Poor Dad author Robert Kiyosaki? Let us know in the comments section below.
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