Rich Dad Poor Dad author Robert Kiyosaki says that the crisis in the banking industry is far from over.
Kiyosaki tells his 2.4 million Twitter followers that he believes the California-based mortgage lender LoanDepot is likely on the verge of bankruptcy.
LoanDepot reportedly lost $610.40 million last year despite cutting 6,100 jobs.
According to Kiyosaki, the crisis will likely not end with LoanDepot, and a significant number of banks remain under a lot of pressure.
“More banks about to fail. The rumor is mortgage giant Loan Depot is on the ropes. Regional banks and mortgage companies are falling.
Please be careful. I would not believe anything President Biden, Fed Chairman Powell or Treasury Secretary Yellen say. Think for yourself.”
Last week, Kiyosaki warned of an impending crash in the real estate sector.
According to the former best-selling finance author, the incoming real estate collapse will likely be much worse than the housing market meltdown in 2008.
Kiyosaki told his followers to prepare for his predicted catastrophe by accumulating precious metals and Bitcoin (BTC).
“Greatest real estate crash ever. 2008 was the Great Financial Crisis (GFC).
2023 will make 2008 GFC look like nothing. In 2019, office towers in San Francisco were hot. In 2023, (the) same buildings have lost 70% of their value.
What will cities do with office buildings? Homes for the homeless. Get gold, silver and Bitcoin.”
At time of writing, Bitcoin is trading for $26,634, up over 4% in the last 24 hours.
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