As the continuously bleak predictions for the future of the United States economy continue, the prominent investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ Robert Kiyosaki, has repeated his gloomy warnings and mistrust of the current government, which he believes is not working in the people’s interest.
Indeed, Kiyosaki had some scathing words for the US Federal Reserve and other parts of the country’s government, calling them “the Adams family” and “cartoons killing the economy,” which is in “serious trouble,” in his ‘The Rich Dad Channel’ podcast streamed on June 28.
As it happens, he was discussing the financial outlook of the US with his wife and fellow investor Kim Kiyosaki, and Nomi Prins, an economist and author of ‘Permanent Distortion: How Financial Markets Abandoned the Real Economy Forever,’ arguing that it was the commercial banks running the Fed behind the scenes.
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‘Not our friend’
Specifically, Kiyosaki voiced his opinion that the Fed was “not our friend” and that it came into being with a purpose “to save the banks,” as he said the institution was “lying to people just to keep them from running to the banks and yanking their money out as fast as possible.”
In fact, according to the finance educator:
“If you’re counting on the Fed to save our butts, I think we’re in trouble. (…) The real problem is really our debt, and we cannot cover it, so the solution of the Fed is to keep printing, and they just took the ceiling off. They said, ‘we’re just going to print forever right now.”
Get ready for crash
Meanwhile, Kiyosaki has pointed out that many college-educated people in the US lacked proper financial training, arguing that they needed to start learning to protect themselves in the market crash he believes is looming, as the “communist” US economy deflates, as Finbold reported earlier.
Moreover, he has also warned his followers of the strong chance of the “greatest real estate crash ever” and that the upcoming crisis would eclipse the Great Recession of 2007-2009, recommending them to invest in gold, silver, Bitcoin (BTC), and Wagyu cattle, to protect themselves.
Watch the entire video below:
