In his enduringly pessimistic assessment of the economy and overall financial markets, Robert Kiyosaki, the bestselling author of the personal finance book ‘Rich Dad Poor Dad,’ continues to voice his criticism of the Federal Reserve.
Kiyosaki shared unfiltered views about the Fed through an X (formerly Twitter) post on February 17 and urged investors to explore non-traditional investment assets. He advised investors not to ‘fight the Fed’ but instead redirect their focus towards investing in assets such as gold, silver, and Bitcoin (BTC).
“Sick and tired of hearing ‘experts’ ask ‘What is the Fed doing?’ The Fed is the problem. The Fed is a criminal organization. The Fed has destroyed the economy, made the poor and middle class poorer, and bailed out their rich banking friends,” he said.
Betting on Bitcoin
Instead of relying on the Fed, Kiyosaki has consistently advocated placing faith in assets such as gold, silver, and Bitcoin. He warned that gold is poised to crash below $1,200 and emphasized that banks were opting for the precious metal over US debt. He believes that silver and Bitcoin will “take off,” although he admitted to having no knowledge about the maiden cryptocurrency.
Kiyosaki stresses that investors should brace themselves for a possible market crash. He contends that the stock market is poised for a downturn, noting that the S&P 500 index is likely to experience a 70% plunge, which he terms the ‘biggest crash in history.’
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