The author of the best personal finance book of all time, Robert Kiyosaki, predicts a brutal crash across all financial markets and holds the FED accountable for the current economic climate. Although Mr.Kiyosaki has always been bearish on the US dollar, his recent comments on Twitter indicate he is all in buying bitcoin and commodities like silver.
Even in 2015, he predicted something bigger than the 2008 crash is coming, and the reason he gave was- “In 2007, there was 700 trillion in derivatives, today there’s 1.4 quadrillion in derivatives. All authorities did was step up the debt to give the false appearance that the economy is strong.” He strongly believes derivatives will be the main reason behind this incoming market crash.
The financial guru and wealth creator repeatedly blasted the Federal Reserve on Twitter for the last twelve months. He highlights that underlying fundamentals are weak, and they always have been, so if they keep printing more money, it will eventually lead to a crash.
A stock market with high value doesn’t always reflect a strong economy, and in Kiyosaki’s point of view, the debt situation will create the biggest bubble economy ever. To overcome this coming crash and high inflation, Robert suggests loading up on assets with high stores of value like Gold and Silver that can act as a hedge. He also trusts bitcoin to be the safest bet against inflation, as he said it over and over again through his tweets.
Despite the fact that we are in a correction phase, he suggests investors to have an open mindset and diversify assets like bitcoin. He believes a crash is the best time to get rich and buy more appreciating assets. While making investment decisions, he always likes to consider the liquidity of the asset, so it is not surprising he is continuously accumulating crypto assets.
His bullish view on bitcoin has not faded a bit and expects the next crash to last longer. In a nutshell, derivatives are instruments for financial destruction, and to not get rekt in the next crash, and it is best to bet on assets like bitcoin.
Born and brought up in India, Karthikeya Gutta is a crypto journalist and freelance contributor for ItsBlockchain. He covers various aspects of the industry with in-depth analysis and research. His passion towards blockchain and crypto ecosystem is mainly because he believes it can really change the world and help millions of people.
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