After warning for a long time of the biggest stock market crash in history, Robert Kiyosaki, a renowned investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ recently alerted that it had already begun and highlighted the hidden crashes lurking.
Specifically, Kiyosaki discussed the unfolding widespread financial crash, particularly warning about the bond markets and arguing that the entire system is coming down due to corruption, during an interview with ITM Trading’s Daniela Cambone streamed on September 6.
“The biggest markets in the world are the bond markets, and you ask any financial planner, ‘should I buy bonds?’ [they’ll say] ‘yes, they’re safe’ and the whole thing is coming down because it’s all corrupt, so that’s why, for all these years, it’s gold and silver. I own gold mines, silver mines, all that stuff.”
Picks for you
‘It’s already started’
Asked by Cambone if he meant this collapse could happen overnight, Kiyosaki stressed that it has already commenced, referencing American lawyer, investment banker, and fellow author James Rickards and his definition of a financial depression:
“It’s happening. The crash has already started. As Rickards says, we entered a depression in 2008, and the definition of a depression is subprime growth, so America and the world have not grown.”
Hidden crashes
Furthermore, he stressed that the “so-called safest bank in the world, Credit Suisse, is bankrupt, but we can’t see it, and so what’s happening is that it starts, it keeps crashing, but we can’t see it, and that’s why, all these years, it’s gold, silver, and Bitcoin (BTC) to it.”
As he added, he is a “hardcore believer of gold and silver,” or as he called it, “real money, not fake money,” referring to the U.S. national currency, but arguing that the country’s education system is teaching an average person into fake [money] due to hidden Marxism plaguing it.
Moreover, according to Kiyosaki, United States Vice President Kamala Harris is contributing to the problem, being a “hardcore Marxist” who has “tried pitching price controls” without being aware that “every time you have price controls, the economy crashes.” On top of that, he pointed out the issue of the U.S. debt:
“The national debt of America is now $35 trillion on the balance sheet. It’s about $250 trillion off the balance sheet, with social security and pensions. But the real problem here is that every year now, American taxpayers have to pay a trillion dollars just to handle the interest on that debt, and every 100 days, Janet Yellen and Powell and the President, they print a trillion dollars every 90 to 100 days. We’re bankrupt.”
‘Five Gs’ to survive crash
Finally, the ‘Rich Dad’ author listed his ‘five Gs,’ or the assets necessary to survive the unfolding global economic crash, including gold, grub (i.e., food, as “the Fed cannot print cattle”), ground (i.e., real estate), gasoline (oil wealth, but not oil stocks), and guns, as “every small war turns into a big war.”
As a reminder, in addition to the above assets, Kiyosaki has also been an avid supporter of other alternatives to traditional money and has invested in lithium mines, carbon credits, silver, and cryptocurrencies like Bitcoin, Ethereum (ETH), and Solana (SOL), as Finbold reported earlier.
Featured image via Cavaleria Com YouTube
Watch the entire video below:
Buy stocks now with eToro – trusted and advanced investment platform
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
