Robert Kiyosaki, author of the popular book ‘Rich Dad Poor Dad’ has issued a warning about a “crash landing” for the economy in the near future. His statements came after a pair of major US-based banks were closed down by United States regulatory officials.
‘Rich Dad Poor Dad’ was published in 1997 and co-authored by Sharon Lechter. The book has remained on many best sellers lists for more than six years now. Over 32 million copies have been sold, with the book being published in more than 51 languages across over one-hundred countries.
Kiyosaki had the following to say on Twitter:
“Bail outs begin. More fake money to invade sick economy. Still recommend same response. Buy more gold, silver, bitcoin. Take care. Crash landing ahead.”
The United States Treasury Department, Federal Reserve Board, and FDIC (Federal Deposit Insurance Corporation) recently released a mutual statement indicating that those who had deposited funds into Silicon Valley Bank and/or Signature Bank would be able to access all of their funds and that taxpayers would not be on the hook for any losses.
The Federal Reserve further stated that it plans to make additional funds available to depository institutions that meet certain requirements. Kiyosaki refers to the United States dollar as “fake money.” This is because it is supported by the faith and credit of the country’s government, rather than being connected to “real money,” or assets such as gold, Kiyosaki explained.
The well-known author has recommended gold, silver, and bitcoin investments for quite some time now. As for Bitcoin specifically, Kiyosaki touted the virtual currency as being the “best for unstable times.”
Kiyosaki recently predicted that “everything will crash.” Last December, he advised that gold, silver, and bitcoin investments would equate to riches when the Federal Reserve changes its stance and begins to print trillions of dollars. Recently, he also predicted that the global economy is close to collapsing, issuing warnings of runs on banks, locked-up savings, and bail-ins.
Prior to the closure of Signature Bank, Kiyosaki predicted the crash of another bank. In January, he stated that we are in the grips of a global recession, predicting an increase in the number of bankruptcies, rising unemployment, and even more homelessness.