The difference between a rich investor and poor investor could be decided in the strategies taken very soon because a financial market collapse is coming, says “Rich Dad Poor Dad” author Robert Kiyosaki.
Kiyosaki, via Twitter on Monday, said the necessary steps preventing devastating losses include loading up on cryptocurrencies and precious metals.
“The biggest crash in world history is coming,” he wrote. “Get more gold, silver, and bitcoin while you can.”
Among other warnings over the past several weeks from Kiyosaki:
- “Biggest bubble in world history getting bigger.”
- “Fed will raise interest rates causing stock, bond, real estate & gold to crash.”
- “Why I like gold, silver, bitcoin? LIQUIDITY. People rushing in to buy a house at top of real estate market. When real estate crashes cannot get out.”
A key component of the author’s financial belief system is that all investors must be aware of their finances’ strengths and weaknesses, and that self-sufficiency is important.
His book emphasized the need to invest in real estate and other assets. Gold, silver and crypto fit the description, Kiyosaki believes, because they are more likely to retain value and are easily converted into cash.
Kiyosaki joins other financial analysts in the warning, including Michael Burry, who gained fame after his billion-dollar bet on the 2008 crash via “The Big Short” book and movie.
Burry tweeted earlier this month: “People always ask me what is going on in the markets. It is simple. Greatest Speculative Bubble of All Time in All Things. By two orders of magnitude. …”
Seems like a lot of magnitude. The question persists: Is anyone going to listen?