The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that the world economy is on the brink of collapse. He warned investors about the risks of bank runs, frozen savings and bailouts that may follow.
Robert Kiyosaki on the collapse of the world economy
Rich Dad Poor Dad author Robert Kiyosaki returns with more grim warnings about the global economy. 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 said on Tuesday that the world economy is on the brink of collapse and warned of several risks that could hurt investors. He tweeted:
World economy on the brink of collapse. Does it run on the banks afterwards? Frozen savings? Dance-ins after?
He then urged investors to buy silver. “You can buy a real silver coin for around $25,” she noted, adding that he doesn’t make any money when people take his advice and buy silver coins. The renowned author emphasized:
I just want you to be prepared for what’s coming.
In times of financial crisis, depositors can panic and withdraw their money all at once, which can trigger a run on the bank and freeze savings accounts. Also, if a bank faces insolvency, it can impose a bailout, in which the bank uses depositors’ funds to stay afloat. All of this could hurt investors financially.
Kiyosaki has often said that he does not trust the Biden administration, the Federal Reserve, the Treasury and Wall Street. He previously warned that the Fed’s action could destroy the US economy and the dollar.
The author of Rich Dad Poor Dad has also raised concerns many times about upcoming market crashes. He recently warned against investing in stocks, bonds, mutual funds, and exchange-traded funds (ETFs), noting that bitcoin, gold, and silver are the best investments for shaky times. He called gold and silver God’s money, while bitcoin is “people’s money.”
Kiyosaki predicted that by 2025, the price of bitcoin will be $500,000, while gold will rise to $5,000 and silver will skyrocket to $500. This year, he expects the price of gold to hit $3,800 and silver to hit $75. He said that the possessors of gold, silver and BTC it will get richer when the Fed turns over and prints trillions of dollars. In January, he said that we are in a global recession, and warned of rising bankruptcies, unemployment and homelessness.
What do you think of Rich Dad, Poor Dad author Robert Kiyosaki’s warnings? Let us know in the comments section.
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