‘Rich Dad, Poor Dad’ Author Says ‘Losers’ Watching Stocks While Real Problem is Elsewhere: ‘Major Crash To Come’ – Bitcoin (BTC/USD)
Robert Kiyosaki, the author of “Rich Dad, Poor Dad,” is warning investors about the need to focus on the bond market, which is much larger than the stock market and seeing its “biggest crash since 1788.”
The View: The personal finance Guru in a tweet said the “real problem is in the bond market,” adding that he foresees a “major crash to come.”
Kiyosaki had earlier warned inflation could lead to depression, and foreclosures are up 700% compared to last year.
Why It Matters: Bond markets, historically, have reacted negatively to interest rate hike news. In times of excessive market panic, Gold has been a life-saver as funds are diverted to the safe-haven asset. If there is a recession in the U.S. and stocks continue to remain under pressure in the medium term, the yellow metal could provide some relief.
Kiyosaki said he is buying more Gold and Silver and is waiting for Bitcoin BTC/USD prices to fall further.
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This article was originally published on July 25, 2022.
Photo: Created with an image from Gage Skidmore via Wikimedia