Robert Kiyosaki, the well-known author of the international best-seller Rich Dad Poor Dad, has issued a warning that all markets are about to crash. He particularly names real estate, equities, gold, silver, and bitcoin as the markets that are most at risk. Kiyosaki made this statement in reference to his earlier prediction of a crash that would be much more severe than the one that occurred during the financial crisis of 2008. There will be a loss of life in the millions.”
The Crashing of the Markets, According to Robert Kiyosaki
Robert Kiyosaki, who is best known for his book “Rich Dad Poor Dad,” is back with more gloomy predictions about market catastrophes. Rich Dad Poor Dad is a book that Kiyosaki and Sharon Lechter wrote together and published in 1997. It has been on the list of best sellers published by The New York Times for more than six years. Over 32 million copies of the book have been sold, and it has been translated into over 51 languages and published in more than 109 nations.
In a tweet sent on Friday, Kiyosaki stated that every market is in the process of collapsing and that “greater oil inflation” will result in the elimination of the middle class. He followed up his post with a tweet on Sunday, in which he made reference to a book that he had written and released in October 2013 under the title “Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming…” And How You Can Better Position Yourself to Take Advantage of It!”
He went into depth on how the year 2008 was an excellent time to amass wealth because everything “went on sale.” The acclaimed author, in reference to his prediction of a larger catastrophe that was detailed in his book, penned the following: “That crash is here. There will be a loss of life in the millions.” Kiyosaki issued a call to action to the two million people who follow him on Twitter, urging them not to be among the people who lose everything and telling them it is time for them to “become wealthy.” In his explanation from last week, he said, “It’s not what’s in your wallet… It’s all in your head, with the reiteration that you should “change what’s in your head first… then work on being richer.” The well-known author has issued numerous warnings about the impending crash of the market. He recently stated that both equities and bonds are crashing, and he forecast that the recent crash will be the largest bond crash since 1788. In addition to his prediction that a depression and civil upheaval are on the horizon, he cautioned that inflation might bring about an even worse economic downturn.
The previous week, he admitted that after seeing economist Harry Dent speak, he had a change of heart about investing in treasury bonds. The author of Rich Dad Poor Dad has been warning investors for quite some time that the U.S. dollar is on its way out and advising that they buy gold, silver, and bitcoin as alternatives. In July, he stated that silver offered the most value as an investment at the present time.
Kiyosaki has also been holding off on making a purchase of bitcoin till the price drops more. In June, he stated that he was going to wait until the cryptocurrency reached $1,100 before making a purchase. In July, he mentioned that he was waiting to buy Bitcoin when he was in a cash position. This week, the price of bitcoin fell below $20,000. Bitcoin is now trading at $19,629 at the time of this writing, which is a decrease of almost 9% in the past seven days. According to the data provided by Coinmarketcap, the total value of the cryptocurrency market is approximately $944 billion.