R. Kiyosaki explains economic downfall and urges Bitcoin acquisition
Robert Kiyosaki, author of the personal finance book “Rich Dad, Poor Dad,” argues that the Federal Reserve’s continued efforts to reduce inflation are serving as a trigger for an economic collapse.
According to Kiyosaki, interest rate rises are destructive to the economy, with equities, bonds, and real estate suffering the most, as he tweeted on October 29.
Nonetheless, Kiyosaki said that Bitcoin (BTC) and precious metals might provide investors with a safety net.
Kiyosaki pointed out, intriguingly, that if the economy fails, the majority of people will have to go the additional mile and adapt. He compared the situation to his involvement in the Vietnam War. According to Kiyosaki:
“I was not required to go to Vietnam. I was exempt from the selection since I worked in the oil sector. Nevertheless, I volunteered for the US Marine Corps and flew attack helicopters. Excellent choice since I had to mature. In the next economic collapse, many individuals will mature while others will perish. Be careful!”
Notable is the fact that Kiyosaki has long accused the Federal Reserve of planning an economic collapse via its inflation-control methods. Notably, the author asserts that the institution is to blame for the skyrocketing inflation.
In this paragraph, Kiyosaki asserts that investors may save their capital in Bitcoin, saying that the most prominent cryptocurrency can safeguard wealth. As reported by Finbold, Kiyosaki indicated that Bitcoin would not preserve income during a recession. Therefore, he advised obtaining side jobs.
Kiyosaki has maintained, notwithstanding growing inflation, that conventional financial instruments are in danger of collapse. For example, he predicted that the dollar will likely drop in early 2023, but he favoured silver.