Rich Dad Poor Dad author Robert Kiyosaki says that the stock market is on its last legs, with the US heading into a historic economic downturn.
The best-selling author tells his 2.4 million Twitter followers that while he doesn’t get involved with stock or bond investing, he’s anticipating a “severe” crash and a potential depression to follow.
Says Kiyosaki,
“I do not play the stock or bond markets. As an entrepreneur I like my hands on control too much. Yet too many signs point to a severe stock market crash.
If your future depends on stocks and bonds please be careful, possibly ask for professional advice. Afraid depression coming.”
Kiyosaki, an advocate for Bitcoin (BTC), said that the recent strength in the stock market was due to the debt ceiling being removed. Given his outlook on the US economy, he says he will continue to invest in “real assets” which include Bitcoin, silver and gold.
“WHY is [the] stock market taking off? Because the ‘debt ceiling’ was removed. This means national debt to rise with the stock market. Rich get richer as America gets poorer. Sad.
Sticking with real money and real assets: gold, silver, Bitcoin.”
Ultimately, Kiyosaki is predicting a rapid decline of the value of the US dollar, partially fueled by irresponsible government spending and the intention of BRICS, a coalition of Brasil, Russia, India, China and South Africa to create their own gold-backed currency.
“Giant crash coming. Fake money-aka fiat currency to die. BRICS meeting in S. Africa August 22 to put nail in coffin of fiat… fake money. Get into real gold, silver and Bitcoin asap. Take care. End of fiat (fake) money near.”
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