American author anticipates largest economic crash in October
Rather than putting money in stock market, Robert Kiyosaki suggests to invest in gold, silver and Bitcoin
Hyderabad American businessman and book author Robert Kiyosaki predicted a giant stock market crash coming this month. Though he has been alerting the US citizens and global investor community to prepare for the biggest economic depression in the history from last few months, he recently announced it to happen in October.
He is the founder of private financial education company Rich Dad, which provides personal finance and business education to people through books and videos. He is the author of more than 26 books, including the self-published Rich Dad Poor Dad series of personal finance books that have been translated into 51 languages and sold over 41 million copies across the globe.
Through Rich Dad business coaching and investing classes, he and his wife Kim Kiyosaki educate the people in financial literacy and financial freedom to elevate the financial well-being of humanity. He is also active on social media sharing his views on global economy to the netizens. In the recent times, he was highlighting about the Bitcoin crash and stock market crash.
"Giant stock market crash is coming this October. Why? Treasury and Fed short of T-bills. Gold, silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver and Bitcoin, yet have lots of cash for life after stock market crash. Stocks are dangerous," Kiyosaki tweeted, asking his followers to be careful while investing.
He had been alerting about the Bitcoin crash since quite long time. In April, he tweeted: "After 2008, Subprime Crash Fed and Treasury printed $700 billion. In 2021, Fed and Treasury will print $7 trillion. Biggest crash in history is coming. Worst investment is FANG stocks. Anyone not buying gold, silver and Bitcoin now is an idiot."
FANG refers to the stocks of four technology companies – Facebook, Amazon, Netflix and Google. Rich Dad Poor Dad author has been in favour of investing in gold, silver and Bitcoin. He says, "I do not trust the Fed, Treasury, or Wall Street. I trust God's money - gold & silver and people's money - Bitcoin."
Kiyosaki strongly criticises United States President Joe Biden. He calls him "Unemployment President". In his latest tweet, he said: "Biden hires Lenin communist Comptroller of the Economy. Her name is Saule Omarova. Fed coin is coming. Hang on tight to gold, silver, Bitcoin. Biden is a thief. That is why he hires communists."