Robert Kiyosaki Warns Fed Rate Hikes Will Destroy US Economy — Says Invest in "Real Money" Naming Bitcoin
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says the Federal Reserve will destroy the U.S. economy with interest rate hikes. He advises people to invest in “real money,” naming bitcoin as an example. Robert Kiyosaki on Fed Rate Hikes, U.S. Economy, Bitcoin
The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the U.S. economy and advice on where investors should put their money.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
On Friday, Kiyosaki tweeted that “savers are losers,” elaborating: Today, U.S. debt in 100s of trillions. REAL INFLATION is 16% not 7%. Fed raising interest rates will destroy U.S. economy. Savers will be biggest losers. Invest in REAL MONEY. Gold, silver & bitcoin.
A number of economists, such as those at brokerage firm Nomura Securities, are predicting a 100 bps increase in the Fed’s benchmark short-term rate next week. Investment strategist Ed Yardeni told CNBC Friday that he believes the Fed is “going to come around and conclude that maybe just get it over with, maybe 100 basis points instead of 75 basis points. And then maybe one more hike after that.”
Some people, such as Tesla CEO Elon Musk and Ark Invest CEO Cathie Wood, have warned that a major Fed rate hike risks deflation in the U.S. economy.
Kiyosaki has repeatedly warned that the biggest crash in world history is coming. In April, he said all markets are crashing. He has recommended gold, silver, and bitcoin before. However, recently he said gold is expensive, calling silver the best investment value today.
Last week, he urged his mailing list subscribers to get into cryptocurrency now, ahead of the biggest crash in world history.
The famous author has been advising investors to buy bitcoin for quite some time, stating for several months that he is waiting for the price of the crypto to bottom out before getting in. After revealing that he was waiting for BTC to test $1,100, he said in July that he was in a cash position ready to buy the cryptocurrency. At the time of writing, bitcoin is trading at $20,103, down 6% over the past seven days and 14% over the last 30 days. Tags in this story fed rate hikes, Federal Reserve, robert kiyosaki, robert kiyosaki bitcoin, Robert Kiyosaki crash, robert kiyosaki fed, Robert Kiyosaki fed rate hikes, Robert Kiyosaki us dollar, Robert Kiyosaki us economy
What do you think about the comments and advice by Rich Dad Poor Dad author Robert Kiyosaki? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Robert Kiyosaki Urges Investors to Get Into Crypto Now, Before Biggest Economic Crash in World History ECONOMICS | 4 days ago Justin Trudeau Slams Pierre Poilievre for Telling People They Can "Opt out" of Inflation by Investing in Cryptocurrency ECONOMICS | 4 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSolar-Powered Crypto Farm in Australia to Prove Bitcoin Mining Can Be Green Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItBitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals
A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40% Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether