Famous best-selling author Rich Dad Poor Dad, Robert Kiyosaki, says the Federal Reserve will destroy the US economy with rate hikes. He advises investing in “real money” and cites Bitcoin as an example.
Robert Kiyosaki on Fed rate hikes, US economy, Bitcoin
Rich Dad Poor Dad author Robert Kiyosaki is back with more warnings about the US economy and advice on where investors should put their money.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. More than 32 million copies of the book have been sold in over 51 languages in more than 109 countries.
On Friday, Kiyosaki tweeted that “savers are losers,” explaining:
Today the US debt is in the hundreds of trillions. REAL INFLATION is 16%, not 7%. The Fed’s rate hike will wreak havoc on the US economy. Savers will be the biggest losers. Invest in REAL MONEY. Gold, Silver and Bitcoin.
A number of economists, including those at brokerage firm Nomura Securities, are forecasting a 100 basis point hike in Fed interest rates next week. Investment strategist Ed Yardeni told CNBC on Friday that he believes the Fed will “come and decide maybe they’re just going to get it over with, maybe 100 basis points instead of 75 basis points. And then maybe a hike.”
Some people, like Tesla CEO Elon Musk and Ark Invest CEO Cathie Wood, have warned that a larger rate hike by the Fed could risk deflation in the US economy.
Kiyosaki has repeatedly warned that the biggest crash in world history is imminent. In April he said all markets are crashing. He has previously recommended gold, silver and bitcoin. However, he recently said gold is expensive and called silver the best investment asset today.
Last week he urged his mailing list subscribers to get into cryptocurrency now before the biggest crash in world history.
The famous author has been advising investors to buy Bitcoin for quite some time, stating that he has been waiting for the crypto’s price to bottom for several months before jumping into it. After revealing that he was waiting for BTC to test $1,100, he said in July that he was in a cash position willing to buy the cryptocurrency. At the time of writing, Bitcoin is trading at $20,103, down 6% over the past seven days and down 14% over the past 30 days.
What do you think of Rich Dad Poor Dad author Robert Kiyosaki’s comments and advice? Let us know in the comment section below.
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