Robert Kiyosaki (the famous author Rich Dad Poor Dad), has predicted that all market sectors are in danger. Referencing his earlier prediction of a bigger crash than during the 2008 financial crisis, Kiyosaki said: “That crash is here. Millions will be wiped out.”
Robert Kiyosaki Forecasts Market Crash
Robert Kiyosaki (author of Rich Dad Poor Dad) is back to warn investors about the dangers of market crashes. Rich Dad Poor Dad was co-authored in 1997 by Kiyosaki, Sharon Lechter and others. The New York Times Best Seller List has had it for six years. It has been sold more than 32,000,000 copies in 51 languages and more than 110 countries.
Kiyosaki described in a tweet Friday that every market is crashing and the middle class will be wiped out by “higher oil inflation.” He wrote:
Markets crash: stocks, stock markets, gold, silver and bitcoin. Higher oil prices decimate the middle class.
On Sunday, he followed up with a tweet referencing a book he published in October 2013 titled “Rich Dad’s Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming … And How You Can Prepare Yourself and Profit From It!”
He detailed that 2008 was a great time to get rich since everything “went on sale.” Noting his prediction of a bigger crash outlined in his book, the renowned author wrote: “That crash is here. Millions will be wiped out.”
Kiyosaki urged his 2 million Twitter followers not to be among those who get wiped out, adding that it is time for them to “get richer.” Last week, he explained that “It’s not what’s in your wallet … It’s what’s in your head,” emphasizing: “Change what’s in your head first… then get richer.”
He has been a famous author who warned against market crashes many times. Recently, he predicted that the largest bond crash in history would occur. He stated that both stocks and bonds will be crashing. Inflation could lead to the Greater Depression, he stated.
He revealed last week that he had changed his mind on treasury bonds following listening to Harry Dent, an economist. Rich Dad Poor Dad has recommended that investors invest in gold, silver and bitcoin since he was a young author. He stressed the fact that the U.S. Dollar is rapidly declining. According to him, silver has the highest investment value of all today.
Kiyosaki also waited to purchase bitcoin at a cheaper price. Kiyosaki stated in June that he was still waiting for $1,100 to be tested before buying bitcoin. He stated that in July he was still waiting on BTC to reach $1,100. BTC fell below $20K last week. Bitcoin is currently trading at $19 629 as of the writing. This represents a drop of over 9% since the previous seven days. The overall cryptocurrency market stands at about $944 billion, based on Coinmarketcap’s data.
How do you feel about Robert Kiyosaki’s warnings? Leave a comment below.
Images CreditShutterstock. Pixabay. Wiki Commons.
DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the content or use of any goods, services, or information mentioned in the article.