The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the Federal Reserve’s continued rate hikes will collapse stocks, bonds, real estate and the US dollar. He expects the next downfall to be the “$1 trillion derivatives market.”
Robert Kiyosaki on interest rate rises and market falls
Rich Dad Poor Dad author Robert Kiyosaki reiterated his warnings about falling markets and the danger of the Federal Reserve raising interest rates this week. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller list for over six years. More than 32 million copies of the book have been sold in more than 51 languages in more than 109 countries.
Kiyosaki tweeted on Thursday:
Rising interest rates will crash stocks, bonds, real estate, and the US dollar. Next drop: $1 quadrillion derivatives market. $1 quadrillion is $1 trillion.
The Federal Reserve raised interest rates by 25 basis points (bps) on Wednesday. While many people expect the Fed to start cutting rates soon, Fed Chairman Jerome Powell said that rate cuts are not in the Fed’s base case.
This was not the first time that Kiyosaki has warned about stocks, bonds, real estate and the falling US dollar. Last week, the famous author spoke about a “hard landing looming” as bank bailouts began following the collapse of major banks, including Silicon Valley Bank and Signature Bank. He also predicted the end of the US dollar, calling the USD “counterfeit money”.
The renowned author also recently predicted that the world economy is on the brink of collapse, awaiting bank runs, frozen savings and bailouts. In February, he said that everything will collapse. Earlier this year, he said we’re in a global recession, warning of rising bankruptcies, unemployment and homelessness.
What do you think of Rich Dad, Poor Dad author Robert Kiyosaki’s accident warnings? Let us know in the comments section.
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