With concerns about a possible recession lingering in the United States, market participants are closely watching the Federal Reserve’s next monetary policy move, hoping to alleviate the situation.
However, Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, voiced his skepticism about the current economic climate in an X post on August 17. He emphasized that the Federal Reserve cannot shield the public from an impending recession.
In his post, Kiyosaki questioned why people rely on the Federal Reserve for guidance, arguing that the institution is part of the problem. He cited widespread retail sales and discounts as precise indicators of economic distress, even noting that a nearby used clothing store was offering sales.
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According to Kiyosaki, these signs suggest that the recession has already arrived, regardless of official announcements.
The financial educator was particularly critical of the Federal Reserve’s leadership, describing them as “highly educated poor people.” He reiterated a sentiment from his “Rich Dad” figure, asserting that “PhD stands for Poor, Helpless, and Desperate,” highlighting his belief that the Fed’s decision-makers are disconnected from everyday people’s real economic issues.
Assets to buy
In response to these concerns, Kiyosaki urged his followers to take control of their financial futures by investing in assets he believes are safe havens during economic uncertainty. Specifically, he recommended buying more gold, silver, and Bitcoin (BTC), advising people to stop relying on traditional financial institutions and instead focus on these tangible assets.
“The Fed cannot save you. Time to save yourself. Buy more gold, silver, and Bitcoin and stop listening to highly educated poor people,” Kiyosaki stated.
Kiyosaki’s endorsement of gold, silver, and Bitcoin aligns with his long-standing advocacy for these investments as protection against inflation and financial instability. Gold and silver are traditionally seen as safe-haven assets during crises, while Bitcoin, despite its volatility, is increasingly viewed by some investors as “digital gold.”
His message reflects his deep skepticism of traditional financial institutions and fiat currency. He argues that the Fed’s policies have exacerbated economic problems rather than solved them.
Impending market crash
Beyond his critique of the Fed, Kiyosaki has also predicted a severe market crash, repeatedly warning that the stock market, particularly the S&P 500, could experience a dramatic decline of up to 70%. He likens the current economic situation in the United States to the fall of the Roman Empire, suggesting that history is repeating itself due to systemic “stupidity” in economic policy.
Kiyosaki’s advice is clear: he encourages people to invest in assets independent of government control. This perspective aligns with his broader belief that hard assets and decentralized financial tools are the key to protecting wealth during economic turmoil.
