Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has warned that the U.S. is “sliding into depression.” He said that a giant crash is coming, after which “a new depression” will follow. Bitcoin is among his recommendations for smart investing.
Famous author and investor Robert Kiyosaki has warned of a new depression in the U.S. following a “giant crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
The famous author tweeted Friday that the U.S. is “sliding into depression.” He said President Joe Biden and the Fed are “ripping off people,” noting that they “need inflation to prevent new depression.” Kiyosaki stressed: “Inflation rips off the poor. Inflation makes [the] rich richer. Biden and Fed corrupt.” He continued:
Prepare: Giant crash then new depression. Be smart: Buy, gold, silver, bitcoin.
A number of people have voiced similar concerns about inflation. Senator Rick Scott (R-Fla) said on Fox News Sunday that Americans should be furious with the way Democrats are handling their money, adding that President Joe Biden’s Build Back Better agenda will only worsen the country’s “ridiculous” inflation.
“If you look at what they’re talking about with this — name whatever the bill is — all it’s going to do is cause more inflation … Look at what it’s doing to poor families in this country, with gas prices up 55%. Go to the grocery store, food prices are up. It’s all caused by government spending,” he opined.
This is not the first time Kiyosaki has warned that a major crash is coming. In September, he said: “Giant stock market crash coming October. Why? Treasury and Fed short of T-bills.” He noted at the time that “Gold, silver, bitcoin may crash too,” adding that cash is “best for picking up bargains after [the] crash.” The famous author emphasized that he is not selling gold, silver or bitcoin.
Kiyosaki has been recommending BTC to investors for quite some time. Earlier this month, he said: “I love bitcoin because I do not trust Fed, Treasury, or Wall Street.”
When the price of BTC rose above $60K, Kiyosaki tweeted: “Future very bright. Celebrate yet be cautious. I am waiting for a pullback before investing more.” In August, he said bitcoin was the investment with “the greatest upside.”
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