Rich Dad Poor Dad Author Says Biggest Crash in Decades Is Coming, Details Impact on Bitcoin, Gold and Silver
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Rich Dad Poor Dad author Robert Kiyosaki warns of a major financial crash that he believes will affect Bitcoin and precious metals.
Bestselling author tells according to his 2.1 million Twitter followers, the biggest financial cataclysm since the 1990s is coming due to irresponsible monetary policy by the US Federal Reserve.
“Everything BUBBLE EVERYTHING CRASHES. I warned in my books that the biggest collapse has happened since the 1990s. Instead of fixing FED printing problems FAKE $. In [the] Everything Crash everything crashes even gold, silver, BC. Your greatest asset in a gigantic crash, your financial wisdom.”
Kiyosaki describes what he sees as a vicious cycle of US monetary policy that begins with excessive borrowing and ends with the devaluation of the USD.
According to the Bitcoin bull, the best hedge against such an economic environment is BTC, gold and silver.
“1. The US borrows too much money. 2. The US keeps interest rates low. 3. Low interest rates force the US to borrow more dollars to buy more US bonds 4. keep interest rates low 5. Causes inflation 5. Forces interest rates to rise 6. Debt becomes too expensive 7. The US dollar dies. BUY Gold-Silver-Bitcoin.”
In a recent interview, Kiyosaki said he was waiting for Bitcoin to crash to buy more BTC, noting that he was generally bullish on the digital flagship.
“I’m very optimistic and bullish on blockchain, so if Bitcoin goes down to $1,000, I’ll back the truck, but if it goes down to $25,000, I won’t buy anymore…
I remember when gold [in the year] 2000 was $300 an ounce. You can wait for it to go up to $3,000 or $30,000 an ounce before you buy, that’s what stupid people do – they buy at the top of the market.
They all jump in like idiots. I’m waiting for the next crash, same with real estate. Real estate is collapsing right now [and] I get very excited about it, everything goes on sale… I don’t want to pay retail, I want to pay wholesale. It’s general capitalism.”
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