Robert Kiyosaki is a popular name we have all been familiar with. He is the author of best selling book Rich Dad Poor Dad. He often makes news with his opinion on any topic related to crypto or something else. Well, today also he is in the news for predicting about world economy, which according to him is on the verge of collapse. He even cautioned investors about the risks of frozen savings, bail-ins, and bank runs. So let us know more about it further.
Why Robert Kiyosaki warns investors about the collapse of the world economy?
Robert Kiyosaki, the famous author of best selling book Rich Dad Poor Dad has once again returned with his opinion. This time he has come up with a dark caution about the collapse of the world economy. Briefing about his book Rich Dad Poor Dad, it came during 1997. Even though it is mostly famous for Robert Kiyosaki, the book was co-authored by Sharon Lechter. It came into the best-seller list in New York for 6 years. Around more than 32 million copies of this book were sold in fifty-one languages across 109 nations.
Recently, the author said about the world economy is going to get collapse. He even warned about numerous following risks that investors must be prepared with. Kiyosaki questioned about Bail-ins, banks running, and Savings getting frozen. He also requested investors to buy real silver coins at $25. The author also added in not make any money when his advice is followed by people in purchasing silver coins. He simply made it clear that one must be prepared for what is going to happen.
At a time of financial crunch, there can be a panicky situation for the depositors who might go for withdraw all their money at once. This can germinate bank runs which in turn can result in frozen savings accounts. Adding to it, if there is any situation of insolvency faced by a bank, then it might impose a bail-in, where depositors’ funds can be used for keeping itself afloat. And financially, investors would get hurt.
No faith in the Biden administration
Often it has been said by Kiyosaki that he has no faith in the administration of Joe Biden, Wall Street, and the Treasury. The Rich Dad Poor Dad author had even earlier warned about the Fed’s action that can demolish the economy of the United States and the dollar. Apart from this, Robert Kiyosaki has also stressed multiple times about the market crashes ahead.
He currently gave warning against investment in stocks, bonds, ETFs (exchange-traded funds), and mutual funds. Instead, he referred to blue chip crypto Bitcoin, gold, and silver as the best choice for investment for unsteady times. According to Kiyosaki, if gold and silver are God’s money, then Bitcoin is the people’s money.
Bitcoin price prediction for 2025
As per the price prediction of Bitcoin by Kiyosaki, it can reach $500K by 2025. Whereas gold is expected to climb to $5K, and silver might soar up to $500. In 2023, the gold price can hit $3,800 whereas silver at $75. Kiyosaki further said that those keeping gold, silver, and Bitcoin will experience more richness at the time of printing of trillions of dollars by the Fed. In January, he also mentioned the recession that would happen globally resulting in homelessness, bankruptcies, and unemployment.
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