Famed author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says the Federal Reserve will destroy the U.S. economy by raising interest rates. He advises people to invest in “real money“, citing bitcoin as an example.
Robert Kiyosaki on Fed rate hikes, the U.S. economy and bitcoin.
Rich Dad Poor Dad author Robert Kiyosaki is back with new warnings about the U.S. economy and advice on where investors should put their money.
Rich Dad Poor Dad is a book published in 1997 and 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 and in more than 109 countries.
SAVERS ARE LOSERS. 25 years ago, in RICH DAD POOR DAD I stated savers are losers. Today, US debt in 100s of trillions. REAL INFLATION is 16% not 7%. Fed raising interest rates will destroy US economy. Savers will be biggest losers. Invest in REAL MONEY. Gold, silver & Bitcoin.
– therealkiyosaki (@theRealKiyosaki) September 16, 2022
Friday, Kiyosaki tweeted that “savers are losers,” and pointed out:
Today, the US debt is in the hundreds of trillions. The real INFLATION is 16%, not 7%. The Fed’s increase in interest rates will destroy the US economy. Savers will be the biggest losers. Invest in REAL MONEY. Gold, Silver & Bitcoin.
A number of economists, such as those at brokerage Nomura Securities, are predicting a 100 basis point increase in the Fed’s benchmark short-term rate next week. Ed Yardeni, an investment strategist, told U.S. broadcaster CNBC on Friday that he thinks the Fed “will come around and conclude that maybe we need to get it over with, maybe 100 basis points instead of 75 basis points. And then maybe an additional hike after that“.
Some people, such as Tesla CEO Elon Musk and Ark Invest CEO Cathie Wood, have warned that a significant Fed rate hike could cause deflation in the U.S. economy.
Kiyosaki has repeatedly warned that the biggest crash in world history is imminent. In April, he declared that all markets are collapsing. He has previously recommended gold, silver and bitcoin. However, he recently stated that gold is expensive and called silver the best current investment.
Last week, he urged his mailing list subscribers to get into crypto-currencies now, before the biggest crash in world history.
The famous author has been advising investors to buy bitcoin for some time, stating for several months that he has been waiting for the crypto-currency’s price to bottom out before getting 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 ready to buy the crypto-currency. Bitcoin is trading at $20,103, down 6 percent over the past seven days and 14 percent over the past 30 days.