Robert Kiyosaki, the famous author of Rich Dad Poor Dad, says the Federal Reserve will destroy the US economy with interest rate hikes. He advises people to invest in “real money”, for example naming bitcoin.
Robert Kiyosaki on Fed Rate Hikes, US Economy, Bitcoin
Robert Miyazaki, author of Rich Dad Poor Dad, offers additional warnings about the U.S. economy and advice on where investors should put their money.
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 more than 109 countries in more than 51 languages.
On Friday, Kiasaki tweeted: “Frugalists are losers.”
Today, the US debt is over 100 trillion. Real inflation is 7 percent, not 16 percent. Raising interest rates will destroy the US economy. Savers will be the biggest losers. Invest in real money. Gold, Silver and Bitcoin.
Many economists, such as brokerage firm Nomura Securities, are forecasting a 100 bps hike in the Fed’s benchmark short-term rate next week. Ed Yardeni, an investment strategist, told CNBC on Friday that the Fed is coming and will probably end up at 100 basis points rather than 75 basis points. And then maybe one more hike.
Some, such as Tesla CEO Elon Musk and ArchInvest CEO Cathy Wood, have warned that a major federal rate hike could threaten inflation in the US economy.
Kiasaki repeatedly warned that the greatest disaster in world history was coming. In April, he said all markets were collapsing. In the past he has recommended gold, silver and bitcoin. However, recently gold is expensive, today it is the best investment value.
Last week, their mailing list urged subscribers to get into cryptocurrency.
The famous author has been advising investors to buy Bitcoin for several months and was in a financial position ready to buy the cryptocurrency in July after stating that he was waiting for the price of the crypto to go down for several months before entering. At the time of writing, bitcoin is at $20,103, down 6% over the past seven days and down 14% over the past 30 days.
What do you think of Rich Dad Poor Dad author Robert Kiyosaki’s comments and advice? Let us know in the comments section below.
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