Robert Kiyosaki is the famous author of Rich Dad Poor Dad. He claims that the Federal Reserve will bring down the U.S. economy by raising interest rates. He recommends that people invest in "real money", pointing to bitcoin as an example.
Robert Kiyosaki, Fed Rate Hikes, U.S. Economy and Bitcoin
Robert Kiyosaki (author of Rich Dad Poor Dad) is back with more warnings and advice about the U.S. Economy.
Rich Dad Poor Dad was co-authored in 1997 by Sharon Lechter and Kiyosaki. For six years, it has been on The New York Times Best Sellers List. The book has been translated into more than 51 languages in more than 109 different countries.
Kiyosaki tweeted Friday that "savers were losers" and went on to elaborate:
The U.S. has a debt of 100s of trillions today. REAL INFLATION is 16% and not 7%. The Fed raising interest rates will cause the US economy to collapse. The biggest losers will be the savers. Invest in REAL MONEY. You can invest in gold, silver and bitcoin.
Many economists, including those at Nomura Securities, predict a 100-bps increase in Fed's benchmark short term rate next week. CNBC's Ed Yardeni, an investment strategist, said Friday that he believes that the Fed will "come around and conclude that maybe just get that over with. Maybe just 100 basis points instead 75 basis points." The Fed may then decide to hike the rate one more time.
Ark Invest CEO Cathie wood and Elon Musk, CEO of Tesla, warned that a Fed rate increase could lead to deflation in the U.S.
Kiyosaki repeatedly warned of the coming biggest crash in human history. He stated that all markets were headed for collapse in April. He has previously recommended bitcoin, silver and gold. He recently said that gold is too expensive and called silver the best investment choice.
He urged his subscribers to subscribe to his mailing list last week to invest in cryptocurrency before the worst crash in history.
For several months, the famous author has advised investors to invest in bitcoin. He stated that he was waiting for the price to drop before he got in. He revealed that he was waiting for BTC test $1,100 in July and that he was now in a cash position to purchase the cryptocurrency. Bitcoin is currently trading at $20.103 as of the writing. This is a 6% drop over the past seven and 14% over 30 days.
What do you think of the advice and comments made by Robert Kiyosaki, Rich Dad Poor Dad author? Comment below to let us know your thoughts.
By: Kevin Helms
Title: Robert Kiyosaki Warns Fed Rate Hikes Will Destroy US Economy — Says Invest in ‘Real Money’ Naming Bitcoin
Sourced From: news.bitcoin.com/robert-kiyosaki-warns-fed-rate-hikes-will-destroy-us-economy-says-invest-in-real-money-bitcoin/
Published Date: Sat, 17 Sep 2022 23:35:01 +0000
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