Rich Dad Poor Dad author Robert Kiyosaki is again predicting that the real estate sector will crash and cause a severe global financial crisis.
The former best-selling author says that 2023 will see a worse economic downturn than the global financial crisis (GFC) of 2008, caused by an imploding commercial real estate market.
Kiyosaki cites San Francisco as an example of the real estate problem, where office buildings have plummeted in value after workers emptied out of them during the pandemic and have not returned. Kiyosaki advises people that the best store of value to protect their wealth during a downturn is gold, silver and Bitcoin (BTC).
“Greatest Real Estate crash ever. 2008 was the GFC. 2023 will make 2008 GFC look like nothing. In 2019 Office Towers in San Francisco were hot. In 2023 same buildings have lost 70% of value. What will… cities do with office buildings? Homes for the homeless. Get [gold, silver, Bitcoin].”
He has predicted the top precious metals and Bitcoin will put up huge gains by 2025. The impetus for the surge, he said, is an economic collapse that forces the Federal Reserve to print billions to prop up markets, expanding the nation’s debt and eroding the value of the dollar.
“Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver God’s money. Bitcoin [is the] people’s money. Take care.”
When regional banks collapsed in March, he also drew a comparison to the financial crisis of 2008 when banking giant Lehman Brothers filed for bankruptcy.
“Two Major Banks have crashed. #3 set to go. BUY real gold and silver coins now. No ETFs (exchange-traded funds). When Bank #3 goes gold and silver rocket up. 2008 I forecasted collapse of Lehman days before it crashed on CNN.”
Bitcoin is trading for $26,644 at time of writing, up 0.7% during the last 24 hours.
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