Skip to main content

Rich Dad Poor Dad’s Robert Kiyosaki Predicts ‘Giant Stock Market Crash’ in October — Says ‘Bitcoin May Crash Too’

Rich Dad Poor Dad’s Robert Kiyosaki Predicts 'Giant Stock Market Crash' in October — Says 'Bitcoin May Crash Too'

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted a “giant stock market crash” coming in October. He believes that “bitcoin may crash too.” The famous author also offered his opinion on China’s crackdown on cryptocurrencies.

Robert Kiyosaki Warns of ‘Giant’ Market Crash in October

Famous author and investor Robert Kiyosaki has predicted that a “giant stock market crash” is coming in October, noting that gold, silver, and bitcoin may crash as well.

Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

Kiyosaki tweeted Saturday:

Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold, silver, bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold, silver, bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful.

Kiyosaki has been vocal in predicting the greatest market crash. In June, he warned that the “biggest crash” in the world’s history was coming since the “biggest bubble” in the world’s history was “getting bigger.” He suggested at the time to buy more gold, silver, and bitcoin.

The famous author said in August: “Bitcoin has the greatest upside. With dollar dropping, bitcoin and silver are the best investments.” He also shared: “The primary reason I invest in bitcoin, gold, and silver is because I do not trust our leaders, the Fed, Treasury, nor the stock market. Unfortunately, mom and pop who save money do.”

On Friday, after the news of China’s crackdown on cryptocurrency, the Rich Dad Poor Dad author commented:

China announced this morning a new crackdown on crypto. What does that mean? It means China is about to launch its government crypto coin. If U.S. follows, Fed coin means bitcoin outlawed, U.S. becomes centralized gov, like China, U.S. communism begins, our freedoms end.

While China is already heavily testing the digital yuan, the U.S. Federal Reserve still has not decided whether to issue a central bank digital currency (CBDC). Fed Chair Jerome Powell said last week that the Fed will soon publish a discussion paper on the subject.

Some people see China’s action to crack down on crypto as positive news, including several U.S. lawmakers, who said the Chinese crypto crackdown is a big opportunity for the U.S. to lead in the area of cryptocurrencies. “China’s authoritarian crackdown on crypto, including bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China,” Senator Pat Toomey opined.

What do you think about Robert Kiyosaki’s predictions? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3lZC8wC
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more