U.Today - Robert Kiyosaki, expert on investments and financial education, also known for his classic book on personal finance management “Rich Dad Poor Dad,” has dropped a comment on the current stock market crash and what is happening to Bitcoin during it.
Referring to one of his other books, Kiyosaki stated that a prophecy about the biggest stock market collapse has come true after many years, adding that he perhaps “should not say this” so as not to brag about his prophecy.
Boomers have no time for long term investments: Kiyosaki
Kiyosaki recalled one of the books on financial markets he wrote after “Rich Dad Poor Dad.” The book “Rich Dad’s Prophecy” came out in 2002 and in it, Kiyosaki said in the tweet published today, he predicted a great financial crisis coming in the future. It would hit people of his generation the hardest, he said.He said: “I warned the biggest stock market crash in history was going to wipe out the financial security of millions of investors….especially my generation…. THE BABY BOOMers.”
However, the financial guru adds that the market is rather in a recession than a depression, which could be a silver lining in this stock market crash. Kiyosaki’s current warning is addressed at people from the Baby Boom generation, since, he stated, they “do not have time to invest for the long term in stocks, bonds, mutual funds, or ETFs.”
Fed can resume printing trillions at "full speed"; Bitcoin is solution
Answering his own question about what can be done here, Kiyosaki stated that the current “paper market crash wipes out millions of fake paper assets.” To survive this hard time, Kiyosaki recommends what he has been recommending for years — looking beyond Wall Street assets. This means saving “real gold, real silver, and today Bitcoin,” he explained.Kiyosaki expects the U.S. to start printing money again (trillions of it), making the “fake money even more fake.” Gold, silver and Bitcoin are going up in value, he said, but not in price, though. The expert believes that the Bitcoin price surge is an illusion because the U.S. dollar value is going down rapidly.
“If you still have ’some runway left,’ you may want to save real money which are gold, silver, and Bitcoin,” Kiyosaki concluded his tweet.