'Rich Dad Poor Dad' author claims market crash is imminent
What's the story
Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has issued a stark warning about an imminent "massive crash" in the US stock market. The financial guru took to social media platform X to sound the alarm. He said, "MASSIVE CRASH BEGINNING: Millions will be wiped out. Protect yourself."
Investment strategy
Kiyosaki suggests investing in hard assets
In his post, Kiyosaki suggested investing in hard assets like silver, gold, Bitcoin, and Ethereum to shield against the volatility of equity investments. He said these assets could save investors from heavy losses during economic downturns. "Silver, gold, Bitcoin, Ethereum investors will protect you. Take care," he wrote.
Market perspective
Previous warnings by Kiyosaki
Kiyosaki has long maintained that paper assets such as stocks and bonds are "fake money" and highly susceptible to systematic collapse. He believes real assets like precious metals and cryptocurrencies serve as a hedge during market volatility. His latest comments echo previous warnings he made during the COVID-19 pandemic and again in 2022, when he predicted "the biggest crash in world history" was imminent.
Past forecasts
Mixed response to Kiyosaki's post
In May this year, Kiyosaki predicted that hyperinflation had arrived and could financially wipe out millions. His comments came after market watchers noted weak demand for a $16 billion sale of 20-year bonds by the US Treasury Department. This furthered the belief that investors are shunning US assets. The latest post has drawn a mixed response from netizens, with some criticizing Kiyosaki for his repeated alarms about an impending market crash.