Robert Kiyosaki, a self-made financial educator and author of Rich Dad Poor Dad, recently delivered a message about the world economy. In his latest statements, Kiyosaki said we are now in a historic financial breakdown and called on everyone to start thinking and diversifying out of fiat money.
“Buy when prices are low and hold for the long term,” is his advice.
Among the recommended assets are gold, silver, and Bitcoin (BTC), which he has categorized as a necessary hedge ahead of the looming economic downturn.
Even after criticizing the global financial system for years, Kiyosaki fears that the current weakness was already present in the 2008 credit crunch crisis. He said that the U.S. government gave money to banks, which created an emotional appeal that paved the way for the current issues.
“Seventeen years later, the economy is paying the price,” Kiyosaki said.
That, in essence, is the message that Kiyosaki shared in one of his recent social media posts, in which he also outlined his concerns about a fractured market. The government bailed out the banks in 2008 but left millions unemployed, placing them on the streets. This time, it all boils down to this, reflecting the reality of the song itself: “And this time it’s all having climax.”
“Cash Is Trash”: Kiyosaki’s Call to Action for Savvy Investors
Kiyosaki further envisages deteriorating performance in the future fiscal years and market collapses in the automobile, property, hotel, and retail industries. He also noted that rising geopolitical risk remains another probable catalyst for enhancing the global economic burden.
Still, Kiyosaki is certain that crises are always possible and create the best opportunities for those ready to act. He urged the investors to move their assets into different bodies of property as the dollar is depreciating fast.
As the currency devalues, ‘cash is trash,’ said Kiyosaki, and people need to invest in assets likely to build up value in the future. Two favorites were gold and silver for his investment approach, but he saved his highest praise for Bitcoin, which he called “the people’s money,” and a store of value against monopoly money.
The financial guru said the recent trend that saw Bitcoin go down is a good chance to invest in the virtual currency. Over the years, Kiyosaki has been supporting cryptocurrency, claiming that it offers protection from inflation and the weakening of fiat money. According to him, what we have here is another financial system that is less risky than policy hazards committed by governments and central banking systems.
He remained bullish on Bitcoin and once again said it was “the future of money and the ability to hold value during the period of the unknown.” Predictably, Kiyosaki took the opportunity to assert the traditional line of ‘when the economy fails, Bitcoin will stand tall.’
In addition to stock market volatility, Kiyosaki, sharing his view, predicted that war was imminent with increasing tensions in one country after another. He argued that tensions between major players of the world economy might increase, bringing the situation closer to a perfect storm for traditional financial systems.
However, he advised the investors to be on the right side, positive instead of negative, stating that this was the best opportunity to create wealth in a lifetime.
All these concerns sound like Robert Kiyosaki’s coming at a time when market inflation, increasing interest rates, and disrupted supply chains are affecting global markets. But though his view of the future may be morbid, his concentration on the value of Bitcoin, gold, and silver may represent something even more significant: the return of the investor to diversification.
Kiyosaki’s message is a wake-up call and an invitation to those wishing to sort the economic wheat from the chaff. Whether all of the things he foresees happen, I think his idea sends an important message about the necessity of prudence in a volatile economy.
