Best-selling author of Rich Dad Poor Dad, Robert Kiyosaki, has warned that the stock, bond and real estate markets will crash as the Federal Reserve continues to raise interest rates. Noting that the Fed will pivot, he advises investors to buy bitcoin.
Robert Kiyosaki recommends buying bitcoin before the Fed pivot
Rich Dad Poor Dad author Robert Kiyosaki has advised investors to buy bitcoin before the Fed’s pivot, reiterating that Federal Reserve interest rate hikes will destroy the U.S. economy. 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 and in more than 109 countries.
Kiyosaki tweeted early Saturday morning that gold and silver prices are plunging as the Federal Reserve continues to raise interest rates. He warned that rate hikes will kill the U.S. economy, warning that the stock, bond and real estate markets will crash. He insisted that the Fed will pivot, advising investors to buy gold, silver and bitcoin before the Fed’s pivot occurs.
Gold & silver prices plunge as Fed continues raising interest rates. Silver is out of stock so I am buying physical gold coins. Raising interest rates will kill economy. Stock, bond, real estate will crash. Fed will pivot. Buy Gold, Silver & Bitcoin before FED pivot. Take care.
– therealkiyosaki (@theRealKiyosaki) October 29, 2022
Many economists predicted the Fed would not pivot anytime soon. Economists and money managers told Reuters’ Global Market Forum on Friday that a Fed pivot is not on the horizon, even though risks of excessive tightening are looming. They believe there is a greater chance the Federal Reserve will raise interest rates too much and tip the U.S. economy into a recession.
Bank of America strategists, led by Michael Hartnett, wrote in a note Friday that it is too early for a Fed policy change “absent a sudden collapse in inflation and wages.” Julia Wang, a strategist at JPMorgan, said Thursday that a Fed pivot is unlikely in the near future given persistent inflation. She told Bloomberg, “For us to get to a point where labor market conditions are more fundamentally consistent with the Fed’s inflation objective, we think it will probably take us until late next year. That is why we do not expect a pivot until the fourth quarter of 2023.“
This is not the first time the famous author has said that Fed rate hikes will destroy the U.S. economy. He issued a similar warning in September.
Last week, Kiyosaki said the U.S. dollar is suffering, citing Saudi Arabia’s request to join the BRICS nations. In addition, he predicted that the U.S. dollar will collapse by January and warned of a third world war.
The author of Rich Dad Poor Dad has been promoting bitcoin for some time. Earlier this month, he explained his reason for buying bitcoins. BTC. He has distinguished the largest crypto from the fake currency on several occasions, pointing out that the end of the fake currency is here. Kiyosaki also recently urged investors to get into crypto now before the biggest economic crash happens.