Robert Kiyosaki, author of the best-selling personal finance book “Rich Dad Poor Dad,” has warned that the current inflation situation in the U.S. will likely worsen.
In turn, Kiyosaki urged investors to act and put money into investment products such as Bitcoin (BTC), gold, and luxury brands before they become too expensive when ‘systemic inflation’ sticks in a tweet on March 29.
The author also suggested capitalism is facing a threat of extinction based on rising interest rates. Interestingly, the investor had previously sounded the alarm that the interest rate situation would likely lead to a stock market crash.
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“SHOP til YOU DROP. Retail prices dropping. Rising interest rates killing capitalism. Rich brands on sale. Buy before systemic inflation is in control. Inflation is systemic, not transitory. Buy Prada, Panerai, Polo, gold, silver, BC before brands become expensive.” he said.
At the same time, Kiyosaki used the opportunity to clarify his tweets’ target audience. The author, who has long called for readiness over a possible global economic crash, stated his messages are not meant ‘for poor or middle-class mindset.’
“FYI. You can tell my tweets are not for poor or middle class mindsets. All they are , are Mindsets.” If you think being poor is best & money is evil then be poor. If you think being middle class is best for you stay in school. If you want to be rich, Rich Dad, rich your mindset,” he added.
Kiyosaki blasts the Fed over inflation stand
Before the latest warning, Kiyosaki had previously called out the Federal Reserve chair Jerome Powell for allegedly lying about the inflation situation. According to a Finbold report in early March, the financial educator stated that citizens should brace themselves for higher prices while noting that the Fed chair ‘was lying through his teeth’ when he said inflation was transitory.
On the other hand, he believes inflation will keep rising, with the recent banking crisis likely worsening the situation. In his view, Kiyosaki stated that the U.S. is expected to print more money to bail out the collapsed banks, translating to high inflation.
In this line, he believes the monetary policy will likely devalue the dollar further, having equated the currency to ‘toilet paper.’
As Kiyosaki continues to issue alarming insights on the financial sector outlook, he continues to advocate investing in gold and silver to protect wealth in times of uncertainty. In addition to precious metals, Kiyosaki remains bullish on Bitcoin as a valuable asset for investors. He sees the leading cryptocurrency as a safe haven amid inflationary pressures.
Featured image via Kitco YouTube
