Robert Kiyosaki is the famous author of Rich Dad Poor Dad. He warned investors that the Federal Reserve will continue to increase interest rates, causing stock and bond markets to crash. Investors are advised to invest in bitcoin, as he believes the Fed will change.
Robert Kiyosaki recommends buying Bitcoin before the Fed Pivot
The author of Rich Dad Poor Dad, Robert Kiyosaki, has advised investors to buy bitcoin before the Fed pivots, reiterating that the Federal Reserve’s interest rate hikes will destroy the U.S. economy. Rich Dad Poor Dad was co-authored in 1997 by Sharon Lechter and Kiyosaki. The New York Times Best Seller List has had it for six years. The book has been translated into more than 51 languages in over 109 countries.
Kiyosaki posted early Saturday morning that silver and gold prices are falling as the Federal Reserve increases interest rates. Rate hikes would kill the U.S. Economy, he warned, pointing out that stocks, bonds, and real-estate markets could crash. The Fed will change, so he advised investors to invest in gold, silver and bitcoin now, before that happens.
Numerous strategists and economists predict that the Fed won’t pivot soon. Strategists and fund managers told Reuters’ Global Market Forum Friday that a Fed pivot is not on the horizon even as over-tightening risks loom. According to their belief, there’s a higher chance that the Federal Reserve will raise interest rates too high and plunge the U.S. into recession.
Bank of America’s strategists, led by Michael Hartnett, wrote in a note Friday that it is too early for a Fed policy pivot “absent sudden collapse in inflation & payrolls.” JPMorgan strategist Julia Wang said Thursday that a Fed pivot is unlikely in the near future given persistent inflation. She told Bloomberg: “For us to get to a point where labor market conditions are more fundamentally consistent with the Fed’s inflation target, we think will probably take us to end of next year. So hence, that’s why we expect a pivot really only in Q4 2023.”
It was not the first warning that this renowned author gave about Fed rate rises destroying the U.S. Economy. In September, he made a similar warning.
Last week, Kiyosaki said the U.S. dollar is toast citing Saudi Arabia’s request to join the BRICS nations. He predicted that the U.S. will crash into January, as well as warning about World War III.
Rich Dad Poor Dad has promoted bitcoin for a while. He shared his reasons for buying bitcoins earlier in the month. On several occasions, he has made clear that the biggest crypto is not fake money. Kiyosaki has also urged crypto investors to invest now, in order to avoid the worst economic crash.
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