‘Rich Dad Poor Dad’ author Robert Kiyosaki warned a historic market crash is coming, trumpeted bitcoin, and channeled Warren Buffett in a recent interview. Here are the 10 best quotes

Robert Kiyosaki.
Robert Kiyosaki.

  • Robert Kiyosaki expects financial markets to suffer their most devastating crash ever.
  • The “Rich Dad Poor Dad” author said he bought bitcoin at $9,000 and wants it to get cheaper again.
  • Kiyosaki dislikes stocks, and encourages young people to become entrepreneurs instead of employees.
  • See more stories on Insider’s business page.

Robert Kiyosaki warned financial markets are careening towards their worst crash ever, celebrated the bitcoin sell-off as he wants to buy more, and compared Warren Buffett’s investing philosophy to his own in a recent Yahoo Finance interview.

The “Poor Dad Rich Dad” author also slammed the US government for borrowing too much and devaluing the dollar, trumpeted the value of debt to investors, and encouraged young people to start businesses instead of becoming employees.

Kiyosaki – a personal-finance guru – has been criticizing federal-stimulus programs, warning of a historic market bubble, and urging investors to stockpile bitcoin, gold, and silver for several months now.

Here are Kiyosaki’s 10 best quotes from the interview, lightly edited and condensed for clarity:

1. “The next crash is basically an avalanche waiting for the last snowflake. Since 2008, all the federal government has been doing is piling more debt on the mountainside, and they’re just waiting for the next snowflake to hit. It’s going to be the biggest crash in world history.” – Kiyosaki attributed the snowflake analogy to “Currency Wars,” a book by economist and author Jim Rickards.

2. “They teach you to go to school, get a job, and work for this garbage. I just compare this garbage to what gold, silver, and bitcoin is.” – predicting the US dollar will become as worthless as the Zimbabwean dollar, and arguing gold, silver, and bitcoin will retain much more of their value.

3. “I entered at $9,000. I’m still in the money, and I’m very happy it’s coming down so I can buy more. Simple.” – commenting on bitcoin’s price tumbling from north of $60,000 in April to about $34,000 today.

4. “When the yuan becomes crypto, when the dollar becomes crypto or the fedcoin, what will that do to the banking system? That’s the most important question you can ask today.” – discussing the potential impacts of central-bank digital currencies, or CBDCs.

5. “I don’t own any stocks, I don’t like stocks. I don’t have to own stocks because I’m an entrepreneur. I build my own assets like the Rich Dad company, an international brand. A brand is what Warren Buffett invests in, like McDonald’s or Gillette or Coca-Cola.”

6. “To the young people I say, ‘Don’t be an employee, become an entrepreneur like Bill Gates or Elon Musk or those characters, then you get really rich.’ But if you can just sit there and play the stock market, you may as well play bitcoin too.”

7. “Build a business that does well in crashes, booms, or busts. Young people shouldn’t go to school and become employees, they should become entrepreneurs and capitalists, and build businesses that create jobs.”

8. “These other goofballs are saying, ‘Get out of debt, live debt-free.’ Every time I have a chance to buy real estate, I borrow as much money as I can. I think I’m about $1.2 billion in debt. I make millions of dollars a month in cash flow and I pay no taxes, because the tax system incentivizes people who use debt. Everything they teach you in business school is a bunch of BS.”

9. “The real guys like Trump and me, we’re in debt up to our eyeballs, and we pay no taxes. That’s what we teach, and it’s different than everybody else.”

10. “I’m not saying that having a stock portfolio is right or wrong, but there are other alternatives. Just open your eyes and see how the rich are really getting richer.”

Read the original article on Business Insider

Michael Burry, Jeremy Grantham, and other top investors are predicting an epic market crash. Here are their gravest warnings so far.

Michael Burry against a promotional backdrop for the movie "The Big Short."
Michael Burry.

  • Michael Burry, Jeremy Grantham, and other experts are predicting an epic market crash.
  • Jeffrey Gundlach, Leon Cooperman, and Stanley Druckenmiller expect a downturn too.
  • Here are the gravest warnings so far from eight top investors and commentators.
  • See more stories on Insider’s business page.

Michael Burry and Jeremy Grantham are bracing for a devastating crash across financial markets. They’re far from the only experts to warn that rampant speculation fueled by government stimulus programs can’t shore up asset prices forever.

The billionaire investors Leon Cooperman, Stanley Druckenmiller, and Jeffrey Gundlach have also sounded the alarm. The same is true for the “Shark Tank” star Kevin O’Leary, the market prophet Gary Shilling, and the “Rich Dad Poor Dad” author Robert Kiyosaki.

Here are the most striking warnings from these 8 market experts:

Michael Burry

Michael Burry against a gray promotional backdrop for the movie "The Big Short."
Michael Burry.

Burry in June described the markets as the “greatest speculative bubble of all time in all things” and said retail investors were buying into the hype around meme stocks and cryptocurrencies before the “mother of all crashes.”

Earlier this year, the investor of “The Big Short” fame, who runs Scion Asset Management, pointed to Tesla, GameStop, bitcoin, dogecoin, Robinhood, and the red-hot US housing market as signs of speculative excess.

Read more: Goldman Sachs says buy these 20 stocks that have the most upside potential right now — including 5 set to surge by at least 50%

Jeremy Grantham

Jeremy Grantham against a blurry background.
Jeremy Grantham.

Grantham in January said the market was a “fully fledged epic bubble” and described it as the “real McCoy.”

“When you have reached this level of obvious super-enthusiasm, the bubble has always, without exception, broken in the next few months, not a few years,” the legendary investor and GMO cofounder said.

“We will have to live, potentially, possibly, with the biggest loss of perceived value from assets that we have ever seen,” Grantham added.

Leon Cooperman

Leon Cooperman holding his glasses up to his right temple.
Leon Cooperman.

Cooperman expressed deep concerns about financial markets in May.

“Everything I look at would suggest caution, intermediate to long term, would be the rule of the day,” the billionaire investor and Omega Advisors boss said. “When this market has a reason to go down, it’s going to go down so fast your head’s going to spin.”

But Cooperman described himself as a “fully invested bear” because factors that typically cause bear markets — rising inflation, recession fears, a hostile Federal Reserve — weren’t present.

Read more: How to mine doge: An 18-year-old TikTok influencer shares his process for earning crypto without directly buying via a $700 rig — and explains how it works for other altcoins including litecoin

Stanley Druckenmiller

Stanley Druckenmiller speaking and gesturing against a black-and-orange background.
Stanley Druckenmiller.

Druckenmiller said in May that the bull market reminded him of the dot-com boom, but he cautioned that asset prices could continue rising for a while.

“I have no doubt that we are in a raging mania in all assets,” the billionaire investor and Duquesne Family Office chief said. “I also have no doubt that I don’t have a clue when that’s going to end.

“I knew we were in a raging mania in ’99, but it kept going on, and if you had shorted the tech stocks in mid-’99, you were out of business by the end of the year,” Druckenmiller added.

The investor indicated he would pull his cash out of equities in a matter of months.

“I will be surprised if we’re not out of the stock market by the end of the year, just because the bubbles can’t last that long,” he said.

Jeffrey Gundlach

Jeff Gundlach speaking against a black background.
Jeffrey Gundlach.

Equities are undeniably expensive, Gundlach said in March.

The billionaire investor and DoubleLine Capital boss said that claiming the stock market was “anything other than very overvalued versus history” was “just to be ignorant of all the metrics of valuation.” He predicted that stocks would fall by upwards of 15% when the downturn comes.

Gundlach, known as the “bond king,” predicted that the retail investors who had piled into meme stocks and other speculative assets wouldn’t stick around once prices started dropping.

“We’ll have a tremendous unwind of a lot of the money that thinks that the stock market is a one-way thing,” he said.

Read more: Famed investor Michael Burry is predicting the ‘mother of all crashes’. Here’s what 9 other key ‘Big Short’ players are doing now.

Kevin O’Leary

Kevin O'Leary speaking and pointing on "Shark Tank."
Kevin O’Leary.

O’Leary said in April that stocks would eventually crumble, but he framed the downturn as an educational opportunity for rookie investors.

“Buying the dip is more rock-and-roll, but what invariably happens is you go through a massive correction and you learn a very important lesson,” the “Shark Tank” star and O’Leary Funds chief said.

“The generation that is trading right now has never gone through a sustained correction. It’s coming — I don’t know when, I don’t know what’ll trigger it, but they will learn their lesson,” he continued.

“If you have a lot of leverage on, it’s a hell of a lesson because you end up in a negative net-worth position,” O’Leary added. “But you do learn from it.”

Robert Kiyosaki

Robert Kiyosaki against a green background.
Robert Kiyosaki.

Kiyosaki tweeted in June that he was expecting the greatest market crash ever.

“Biggest bubble in world history getting bigger,” the personal-finance guru and author of “Rich Dad Poor Dad” said. “Biggest crash in world history coming.”

Kiyosaki has accused the Federal Reserve of overstimulating markets and devaluing the dollar. He’s advised investors to prepare for the downturn by stocking up on precious metals and cryptocurrencies.

“ARE YOU READY?” he tweeted in April. “Boom, Bust, Mania, Crash, Depression. Mania in markets today. Prepare for biggest crash, depression in world history. What will Fed do? Print more money? Save more gold, silver, bitcoin.”

Gary Shilling

Gary Shilling against a yellow-and-orange background.
Gary Shilling.

Shilling predicted in April that financial markets would nosedive, but he declined to hazard a guess at when the crash would arrive.

“I’m not making any firm prediction as to when this thing is going to collapse,” the veteran forecaster and president of A. Gary Shilling & Co. said.

“Speculations outrun any logic and that’s probably going to be true of this one,” Shilling continued. “But at some point, boy, there’s going to be a lot of blood on the floor.”

Read the original article on Business Insider

‘Rich Dad Poor Dad’ author Robert Kiyosaki expects an epic market crash, blames the Fed, and loves bitcoin. Here are 16 of his best tweets

Robert Kiyosaki against a green background.
Robert Kiyosaki.

  • “Rich Dad Poor Dad” author Robert Kiyosaki expects a brutal crash across financial markets.
  • The personal-finance guru recommends buying bitcoin, gold, and silver before the downturn.
  • Kiyosaki has also blasted the Federal Reserve and celebrated Reddit traders.
  • See more stories on Insider’s business page.

“Rich Dad Poor Dad” author Robert Kiyosaki has warned of a devastating market crash, slammed the Federal Reserve for devaluing the US dollar, and repeatedly urged investors to buy gold, silver, and bitcoin in tweets over the past 12 months.

The personal-finance guru has also cheered on Reddit traders, analyzed Warren Buffett’s portfolio tweaks, and advised investors to capitalize when asset prices tumble.

Here are Kiyosaki’s 16 best tweets in the past year, lightly edited for clarity:

1. “The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one. Get more gold, silver, and bitcoin while you can. Take care.” – June 28, 2021.

2. “Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for bitcoin to drop to $24k. Crashes best time to get rich. Take care.” – June 19, 2021.

3. “Bitcoin crashing. Great news. When price hits $27,000, I may start buying again. A lot will depend upon global-macro environment. Remember the problem is not gold, silver, or bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.” – May 30, 2021.

4. “Fed wants inflation to pay debt with cheaper $. Fed will raise interest rates causing stock, bond, real estate & gold crash. Biggest problem is Boomer retirement. Social Security Medicare & America broke. Fed to print more fake money. Stick with gold, silver, and bitcoin.” – May 17, 2021.

5. “ARE YOU READY? Boom, Bust, Mania, Crash, Depression. Mania in markets today. Prepare for biggest crash, depression in world history. What will Fed do? Print more money? Save more gold, silver, bitcoin.” – April 17, 2021.

6. “After 2008 Subprime Crash, Fed and Treasury printed $700 billion. 2021 Fed and Treasury to print $7 trillion. Biggest crash in history coming. Worst investment is FANG stocks. Anyone not buying gold, silver, bitcoin now is an idiot.” – April 11, 2021.

7. “Anyone who says ‘money doesn’t make you happy’ is a sick puppy who has never been broke. Money is a drug. It makes people happy. Problem is when drug wears off, people get unhappy. Buy gold, silver, bitcoin, real money and stay happy.” – March 21, 2021.

8. “Why do I like gold, silver, bitcoin? LIQUIDITY. People rushing in to buy a house at top of real estate market. When real estate crashes cannot get out. Real estate not liquid. I own 8,000 rental properties. Bought during crashes. In 2021, I prefer liquidity of gold, silver, bitcoin.” – February 20, 2021.

9. “I am excited about Reddit going after the manipulated silver market. I was not in GameStop but I am in silver. If you have seen me on TV ads for Lear Capital, I drank the silver Kool-Aid way back in 1964, the year silver coins became fake silver. God bless Reddit traders.” – January 30, 2021.

10. “GameStop’s BIGGEST LOSERS are old people. I love Reddit kicking Hedge Funds’ butts. Keep it up. Unfortunately the biggest losers are pension funds managed by Hedge Funds. Thank god I don’t need a pension. If you are young, learn to kick Wall St’s butt and never need a pension.” – January 30, 2021.

11. “The EVERYTHING CRASH is coming. Since 1987, world has been in EVERYTHING BUBBLE. Now all crashing. Prices of gold, silver, bitcoin will crash too. US dollar to rise. Be patient. Massive money printing ahead, eventually destroying dollar. Time to buy more gold, silver, bitcoin coming.” – October 28, 2020.

12. “BOOMERS had it easy. Plenty of jobs, low-cost real estate, rising stock market. MILLENNIALS have it hard. 9/11, 2008 real estate crash, now Covid-19. Good news. Millennials are tech savvy. Boomers are not. Bitcoin-Block chain-Digital currencies give Millennials head start into the future.” – September 9, 2020.

13. “BUFFETT buys to SELL. He sells Coca-Cola, Geico Insurance, Gillette razor blades. He is now selling Barrick Gold. His gold costs $1,000 to mine. Sells for $2,000. Barrick has tons of gold to sell in the future. Smart. How much gold, silver, bitcoin do you have to sell in the future?” – August 22, 2020.

14. “WHY BUFFETT is OUT OF BANKS. Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury ‘helicopter fake money’ direct to people to avoid mass rioting? Not a time to ‘think about it.’ How much gold, silver, bitcoin do you have?” – August 21, 2020.

15. “WHY I buy gold, silver, bitcoin? Three words: No Counterparty Risk. Stocks, Bonds, Business, Real Estate all have Counterparty Risk. Gold, silver, bitcoin are money. They do not depend on people to be money. I own gold, silver, bitcoin in case I need to run from human insanity.” – August 17, 2020.

16. “SAVERS ARE LOSERS. CASH IS TRASH. TREASURIES ARE THIEVES working for the Fed. GOT THE MESSAGE? Central Banks have an avowed goal of decreasing the value of cash by 2% per year. Please don’t be a loser. Open your mind and get smarter about your money. Got gold, silver & bitcoin?” – August 12, 2020.

Read the original article on Business Insider

‘Rich Dad Poor Dad’ author Robert Kiyosaki warned a historic market crash is coming, trumpeted bitcoin, and championed Warren Buffett’s love of brands in a recent interview. Here are the 10 best quotes

Robert Kiyosaki.
Robert Kiyosaki.

  • Robert Kiyosaki expects financial markets to suffer their most devastating crash ever.
  • The “Rich Dad Poor Dad” author said he bought bitcoin at $9,000 and wants it to get cheaper again.
  • Kiyosaki dislikes stocks, and encourages young people to become entrepreneurs instead of employees.
  • See more stories on Insider’s business page.

Robert Kiyosaki warned financial markets are careening towards their worst crash ever, celebrated the bitcoin sell-off as he wants to buy more, and compared Warren Buffett’s investing philosophy to his own in a recent Yahoo Finance interview.

The “Poor Dad Rich Dad” author also slammed the US government for borrowing too much and devaluing the dollar, trumpeted the value of debt to investors, and encouraged young people to start businesses instead of becoming employees.

Kiyosaki – a personal-finance guru – has been criticizing federal-stimulus programs, warning of a historic market bubble, and urging investors to stockpile bitcoin, gold, and silver for several months now.

Here are Kiyosaki’s 10 best quotes from the interview, lightly edited and condensed for clarity:

1. “The next crash is basically an avalanche waiting for the last snowflake. Since 2008, all the federal government has been doing is piling more debt on the mountainside, and they’re just waiting for the next snowflake to hit. It’s going to be the biggest crash in world history.” – Kiyosaki attributed the snowflake analogy to “Currency Wars,” a book by economist and author Jim Rickards.

2. “They teach you to go to school, get a job, and work for this garbage. I just compare this garbage to what gold, silver, and bitcoin is.” – predicting the US dollar will become as worthless as the Zimbabwean dollar, and arguing gold, silver, and bitcoin will retain much more of their value.

3. “I entered at $9,000. I’m still in the money, and I’m very happy it’s coming down so I can buy more. Simple.” – commenting on bitcoin’s price tumbling from north of $60,000 in April to about $34,000 today.

4. “When the yuan becomes crypto, when the dollar becomes crypto or the fedcoin, what will that do to the banking system? That’s the most important question you can ask today.” – discussing the potential impacts of central-bank digital currencies, or CBDCs.

5. “I don’t own any stocks, I don’t like stocks. I don’t have to own stocks because I’m an entrepreneur. I build my own assets like the Rich Dad company, an international brand. A brand is what Warren Buffett invests in, like McDonald’s or Gillette or Coca-Cola.”

6. “To the young people I say, ‘Don’t be an employee, become an entrepreneur like Bill Gates or Elon Musk or those characters, then you get really rich.’ But if you can just sit there and play the stock market, you may as well play bitcoin too.”

7. “Build a business that does well in crashes, booms, or busts. Young people shouldn’t go to school and become employees, they should become entrepreneurs and capitalists, and build businesses that create jobs.”

8. “These other goofballs are saying, ‘Get out of debt, live debt-free.’ Every time I have a chance to buy real estate, I borrow as much money as I can. I think I’m about $1.2 billion in debt. I make millions of dollars a month in cash flow and I pay no taxes, because the tax system incentivizes people who use debt. Everything they teach you in business school is a bunch of BS.”

9. “The real guys like Trump and me, we’re in debt up to our eyeballs, and we pay no taxes. That’s what we teach, and it’s different than everybody else.”

10. “I’m not saying that having a stock portfolio is right or wrong, but there are other alternatives. Just open your eyes and see how the rich are really getting richer.”

Read the original article on Business Insider

‘Rich Dad Poor Dad’ author Robert Kiyosaki has warned of an epic market crash, blasted the Fed, and trumpeted bitcoin. Here are 16 of his best tweets

"Rich Dad Poor Dad" author Robert Kiyosaki
Robert Kiyosaki.

  • “Rich Dad Poor Dad” author Robert Kiyosaki expects a brutal crash across financial markets.
  • The personal-finance guru recommends buying bitcoin, gold, and silver before the downturn.
  • Kiyosaki has also blasted the Federal Reserve and celebrated Reddit traders.
  • See more stories on Insider’s business page.

“Rich Dad Poor Dad” author Robert Kiyosaki has warned of a devastating market crash, slammed the Federal Reserve for devaluing the US dollar, and repeatedly urged investors to buy gold, silver, and bitcoin in tweets over the past 12 months.

The personal-finance guru has also cheered on Reddit traders, analyzed Warren Buffett’s portfolio tweaks, and advised investors to capitalize when asset prices tumble.

Here are Kiyosaki’s 16 best tweets in the past year, lightly edited for clarity:

1. “The best time to prepare for a crash is before the crash. The biggest crash in world history is coming. The good news is the best time to get rich is during a crash. Bad news is the next crash will be a long one. Get more gold, silver, and bitcoin while you can. Take care.” – June 28, 2021.

2. “Biggest bubble in world history getting bigger. Biggest crash in world history coming. Buying more gold and silver. Waiting for bitcoin to drop to $24k. Crashes best time to get rich. Take care.” – June 19, 2021.

3. “Bitcoin crashing. Great news. When price hits $27,000, I may start buying again. A lot will depend upon global-macro environment. Remember the problem is not gold, silver, or bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.” – May 30, 2021.

4. “Fed wants inflation to pay debt with cheaper $. Fed will raise interest rates causing stock, bond, real estate & gold crash. Biggest problem is Boomer retirement. Social Security Medicare & America broke. Fed to print more fake money. Stick with gold, silver, and bitcoin.” – May 17, 2021.

5. “ARE YOU READY? Boom, Bust, Mania, Crash, Depression. Mania in markets today. Prepare for biggest crash, depression in world history. What will Fed do? Print more money? Save more gold, silver, bitcoin.” – April 17, 2021.

6. “After 2008 Subprime Crash, Fed and Treasury printed $700 billion. 2021 Fed and Treasury to print $7 trillion. Biggest crash in history coming. Worst investment is FANG stocks. Anyone not buying gold, silver, bitcoin now is an idiot.” – April 11, 2021.

7. “Anyone who says ‘money doesn’t make you happy’ is a sick puppy who has never been broke. Money is a drug. It makes people happy. Problem is when drug wears off, people get unhappy. Buy gold, silver, bitcoin, real money and stay happy.” – March 21, 2021.

8. “Why do I like gold, silver, bitcoin? LIQUIDITY. People rushing in to buy a house at top of real estate market. When real estate crashes cannot get out. Real estate not liquid. I own 8,000 rental properties. Bought during crashes. In 2021, I prefer liquidity of gold, silver, bitcoin.” – February 20, 2021.

9. “I am excited about Reddit going after the manipulated silver market. I was not in GameStop but I am in silver. If you have seen me on TV ads for Lear Capital, I drank the silver Kool-Aid way back in 1964, the year silver coins became fake silver. God bless Reddit traders.” – January 30, 2021.

10. “GameStop’s BIGGEST LOSERS are old people. I love Reddit kicking Hedge Funds’ butts. Keep it up. Unfortunately the biggest losers are pension funds managed by Hedge Funds. Thank god I don’t need a pension. If you are young, learn to kick Wall St’s butt and never need a pension.” – January 30, 2021.

11. “The EVERYTHING CRASH is coming. Since 1987, world has been in EVERYTHING BUBBLE. Now all crashing. Prices of gold, silver, bitcoin will crash too. US dollar to rise. Be patient. Massive money printing ahead, eventually destroying dollar. Time to buy more gold, silver, bitcoin coming.” – October 28, 2020.

12. “BOOMERS had it easy. Plenty of jobs, low-cost real estate, rising stock market. MILLENNIALS have it hard. 9/11, 2008 real estate crash, now Covid-19. Good news. Millennials are tech savvy. Boomers are not. Bitcoin-Block chain-Digital currencies give Millennials head start into the future.” – September 9, 2020.

13. “BUFFETT buys to SELL. He sells Coca-Cola, Geico Insurance, Gillette razor blades. He is now selling Barrick Gold. His gold costs $1,000 to mine. Sells for $2,000. Barrick has tons of gold to sell in the future. Smart. How much gold, silver, bitcoin do you have to sell in the future?” – August 22, 2020.

14. “WHY BUFFETT is OUT OF BANKS. Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury ‘helicopter fake money’ direct to people to avoid mass rioting? Not a time to ‘think about it.’ How much gold, silver, bitcoin do you have?” – August 21, 2020.

15. “WHY I buy gold, silver, bitcoin? Three words: No Counterparty Risk. Stocks, Bonds, Business, Real Estate all have Counterparty Risk. Gold, silver, bitcoin are money. They do not depend on people to be money. I own gold, silver, bitcoin in case I need to run from human insanity.” – August 17, 2020.

16. “SAVERS ARE LOSERS. CASH IS TRASH. TREASURIES ARE THIEVES working for the Fed. GOT THE MESSAGE? Central Banks have an avowed goal of decreasing the value of cash by 2% per year. Please don’t be a loser. Open your mind and get smarter about your money. Got gold, silver & bitcoin?” – August 12, 2020.

Read the original article on Business Insider

‘Rich Dad Poor Dad’ author Robert Kiyosaki says an epic market crash is coming – and tells investors to buy bitcoin, gold, and silver

Robert Kiyosaki.
Robert Kiyosaki, the author of “Rich Dad Poor Dad.”

  • The “Rich Dad Poor Dad” author Robert Kiyosaki expects a historic crash across financial markets.
  • Kiyosaki advised investors to buy gold, silver, and bitcoin ahead of a downturn.
  • The personal-finance guru cheered on Robinhood and Reddit traders earlier this year.
  • See more stories on Insider’s business page.

Financial markets are barreling toward a brutal downturn, and investors should bank on cryptocurrencies and precious metals to weather the fallout, Robert Kiyosaki, the author of “Rich Dad Poor Dad,” tweeted on Monday.

“The biggest crash in world history is coming,” he said, adding that sell-offs create buying opportunities but that markets wouldn’t recover for a long time. “Get more gold, silver, and bitcoin while you can,” he said.

Kiyosaki’s bestselling book urges people to understand their finances, not to rely on others for money, and to accumulate wealth by investing in businesses, real estate, and other assets. The founder of Rich Global and Rich Dad Company has been sounding the alarm on the market for several months.

“Biggest bubble in world history getting bigger,” he tweeted last week. “Fed will raise interest rates causing stock, bond, real estate & gold crash,” he tweeted in mid-May.

Kiyosaki recommended holding crypto and metals, saying he expected them to retain more of their value and be more easily converted into cash than other assets during a downturn.

“Why I like gold, silver, bitcoin? LIQUIDITY,” he tweeted in February. “People rushing in to buy a house at top of real estate market. When real estate crashes cannot get out.”

Notably, the personal-finance guru celebrated the retail investors who executed short squeezes on GameStop, AMC, and other assets earlier this year. “Robin Hood and Reddit traders kicking the butts of institutional investors,” he tweeted in late January. “Keep it up. Love it.”

“I am excited about Reddit going after the manipulated silver market,” he tweeted a few days later, adding, “God bless Reddit traders.”

Kiyosaki is far from the only high-profile commentator to predict a crash. Leading investors such as Jeremy Grantham, Leon Cooperman, Stanley Druckenmiller, and Michael Burry of “The Big Short” fame have all said the boom will end painfully.

Read the original article on Business Insider

‘Rich Dad, Poor Dad’ author Robert Kiyosaki warns an epic market crash is coming – and tells investors to buy bitcoin, gold, and silver

Robert Kiyosaki
“Rich Dad Poor Dad” author Robert Kiyosaki.

  • “Rich Dad, Poor Dad” author Robert Kiyosaki expects a historic crash across financial markets.
  • Kiyosaki advises investors to buy gold, silver, and bitcoin ahead of the downturn.
  • The personal-finance guru cheered on Robinhood and Reddit traders earlier this year.
  • See more stories on Insider’s business page.

Financial markets are barreling towards a brutal downturn, and investors should bank on cryptocurrencies and precious metals to weather the fallout, “Rich Dad Poor Dad” author Robert Kiyosaki tweeted on Monday.

“The biggest crash in world history is coming,” he said, adding that sell-offs create buying opportunities but markets won’t recover for a long time. “Get more gold, silver, and bitcoin while you can.”

Kiyosaki’s best-selling book urges people to understand their finances, not rely on others for money, and accumulate wealth by investing in businesses, real estate, and other assets. The founder of Rich Global and Rich Dad Company has been sounding the alarm on the current market for several months.

“Biggest bubble in world history getting bigger,” he tweeted last week. “Fed will raise interest rates causing stock, bond, real estate & gold to crash,” he tweeted in mid-May.

Kiyosaki recommends holding crypto and metals because he expects them to retain more of their value, and be more easily converted into cash, than other assets during a downturn.

“Why I like gold, silver, bitcoin? LIQUIDITY,” he tweeted in February. “People rushing in to buy a house at top of real estate market. When real estate crashes cannot get out.”

Notably, the personal-finance guru celebrated the retail investors who executed short squeezes on GameStop, AMC, and other assets earlier this year. “Robinhood and Reddit traders kicking the butts of institutional investors,” he tweeted in late January. “Keep it up. Love it.”

“I am excited about Reddit going after the manipulated silver market,” he tweeted a few days later. “God bless Reddit traders.”

Kiyosaki is far from the only high-profile commentator to predict a crash. Leading investors such as Jeremy Grantham, Leon Cooperman, Stanley Druckenmiller, and Michael Burry of “The Big Short” fame have all warned the current boom will end painfully.

Read the original article on Business Insider