Photo: Finbold
Robert Kiyosaki, businessman and author of the personal finance book “Rich Dad, Poor Dad,” said in an interview with Daniela Cambone from Stansberry Research that the rising inflation is a sign of a major crisis that will worsen with an oncoming recession.
He added, “The repo market has inverted again.”
Discussing his biggest concern, Kiyosaki said, “As we all know, America produces nothing anymore. We produce bubbles, you know. We just blow air bubbles, so we now have this bubble in real estate, stocks, and bonds. Then when Biden took the keystone pipeline xl pipeline off, that just wiped us out here.
“Inflation goes up, and the average American doesn’t have a $1,000. 40% of Americans don’t have $1,000. So when inflation goes up, we’re going to wipe out 50% of the US population, and that is when revolution starts,” he added.
Stock market crash
Kiyosaki highlighted that if and when the stock market crashes, the 401k will fail, and a retirement plan and pensions will be unpayable.
He also noted the impact of taking the US off the pipeline.
“When Biden took the US off the pipeline, oil prices went up. Oil produces fertilizer, and when fertilizer is no longer cheap, people can’t produce food, and the average American has nothing. 40% of Americans have nothing. Inflation is going to make them very upset; a stock market crash will bring down the baby boomers, so we’re in serious, serious trouble.”
Kiyosaki on crypto
On investing in cryptocurrencies for protection with the US dollar about to implode, Kiyosaki said, “The best deals are always done early so when people say do you invest in Bitcoin yes when it was six thousand dollars so Solana is still early and it’s got a possibility it’s a long shot.”
He said if people go to the government crypto, the government will have access to every individual’s action. He mentioned not trusting this government.
