The world-renowned author of “Rich Dad, Poor Dad”, Robert Kiyosaki is saying the biggest economic crash is coming just like a number of other experts like Goldman Sachs and Bill Gates. He further says Dollar is toast while Gold and Silver, and cryptocurrencies – the people’s money are going to take out the “scam” US Dollar.
The biggest economic crash is impending
Robert Kiyosaki, the world-renowned author of the book “Rich Dad, Poor Dad” that has over 32 million copies sold, is warning that an economic crash like never seen before is coming up. Though he says he can’t predict when this crash will happen, the market is already started feeling the ripples.
According to him, the “foreshocks are sounding right now”, which means it might happen sooner than later. Talking about the crash, he shares:
“Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next is going to be the biggest of all.”
He also commented on the fiat money that is constantly printed by the US that only inflates the bubble, stating:
“In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money. The problem is it also became invisible, so they could print as much as they wanted. That’s why savers got wiped out.”
The best counter to this crash explained by him is to invest in gold or silver coins as when “dollar goes down, gold goes up”.
Experts say epic fall is certainly coming
Robert Kiyosaki is not the only one who believes the biggest crash is impending, for quite some time, experts have been claiming of such a scenario as well.
In April, Microsoft founder Bill Gates has said that a financial crisis like 2008 is certainly coming, “It is hard to say when but this is a certainty. Fortunately, we got through that one reasonably well.” Jim Rogers, the co-founder of the Quantum Fund had stated last year, the next bear market will be the worst, “We could see the worst crash in my entire life pretty soon.”
The former Goldman Sachs manager, Nomi Prins also stated in May, this year, “We’re headed for another epic fall” which will “devastate the global economy.” Recently, Goldman Sachs has also reported that stock market is speeding towards a massive disaster.
The dollar is toast, Bitcoin is the way to go
This is where Bitcoin comes into the picture as it is expected to get investors’ attention as a potential hedge against the stock market collapse. Kiyosaki also believes the same as he shares his views on “cyber currencies”:
“I talk about three types of money today. One is God’s money, which is Gold and Silver. (They) will be here after the cockroaches go extinct. It will always be here. Then there’s government money … which is fiat currency … the dollar, the Yen, the Euro. And then there’s people’s money, which is cyber currency.”
He further said, “I think the dollar is toast because Gold and Silver and cyber currency are going to take it out … The US dollar is a scam.” Kiyosaki believes, “we’re watching the end of the dollar”.
And it can be expected when the crash comes or dollar takes a plunge, Bitcoin is likely to emerge out as the winner as millennials are preferring cryptocurrencies over gold.