The well-known writer of the best-selling ebook Wealthy Dad Poor Dad, Robert Kiyosaki, says the world economic system is on the breaking point. He warned traders in regards to the dangers of financial institution runs, frozen financial savings, and bail-ins which will come subsequent.
Robert Kiyosaki on Collapsing World Economic system
The writer of Wealthy Dad Poor Dad, Robert Kiyosaki, is again with extra gloomy warnings in regards to the world economic system. Wealthy Dad Poor Dad is a 1997 ebook co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Occasions Finest Vendor Checklist for over six years. Greater than 32 million copies of the ebook have been bought in over 51 languages throughout greater than 109 international locations.
Kiyosaki mentioned on Tuesday that the world economic system is on the breaking point, warning of a number of dangers that might damage traders. He tweeted:
World economic system on breaking point. Runs on banks subsequent? Financial savings frozen? Bail-ins subsequent?
He then urged traders to purchase silver. “You should buy an actual silver coin for about $25,” he famous, including that he doesn’t make any cash when folks observe his recommendation and purchase silver cash. The famend writer emphasised:
I merely need you ready for what’s coming.
In occasions of economic disaster, depositors could panic and withdraw their cash unexpectedly, which may trigger a financial institution run and result in frozen financial savings accounts. As well as, if a financial institution faces the difficulty of insolvency, it might impose a bail-in, the place the financial institution makes use of depositors’ funds to maintain itself afloat. All of this might damage traders financially.
Kiyosaki usually mentioned he doesn’t belief the Biden administration, the Federal Reserve, the Treasury, and Wall Road. He beforehand warned that the Fed’s motion might destroy the U.S. economic system and the dollar.
The Wealthy Dad Poor Dad writer has additionally raised issues many occasions about upcoming market crashes. He lately warned in opposition to investing in shares, bonds, mutual funds, and exchange-traded funds (ETFs), noting that bitcoin, gold, and silver are the perfect investments for unstable occasions. He known as gold and silver God’s cash whereas bitcoin is “people’s money.”
Kiyosaki predicted that by 2025, bitcoin’s worth can be $500,000 whereas gold will rise to $5,000 and silver will soar to $500. This yr, he expects the value of gold to achieve $3,800 and silver to hit $75. He mentioned the holders of gold, silver, and BTC will get richer when the Fed pivots and prints trillions of {dollars}. In January, he mentioned that we’re in a global recession, warning of hovering bankruptcies, unemployment, and homelessness.
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