Rich Dad Poor Dad author Robert Kiyosaki is declaring the United States bankrupt as a result of its greater than $250 trillion in unfunded liabilities.
Kiyosaki tells his 2.4 Million Twitter followers that the best store of value for their wealth is in gold, silver or Bitcoin (BTC) as he is warning of worsening economic times ahead owing to mounting unfunded United States Government costs.
“Politicians debating raising $30 trillion United States debt limit bad comedy, ‘kabuki theater.’ Facts are: United States bankrupt. Unfunded liabilities as Social Security are over $250 trillion. Financial market ‘derivative assets’ measured in quadrillions… thousands of trillions. WTF. Buy G, S, BC. (Gold, silver, Bitcoin).”
The author previously predicted a crash-landing for the economy because the Federal Reserve has raised interest prices since last March in an attempt to draw down inflation.
He has blamed the Fed’s monetary tightening policies for the collapse of regional banks and has warned more bank collapses are likely.
Warning of recessionary times ahead, Kiyosaki maintains that gold, silver and Bitcoin (BTC) are the best hedges. He predicted in April that Bitcoin (BTC) will sooner or thereafter surge to $100,000 and even higher.
Legendary investor Stanley Druckenmiller has likewise announced a warning about America’s fiscal situation, claiming that the nation’s debt liabilities and costs could force the Government to make drastic cuts to social service programs like social security and Medicare.
Druckenmiller stated in a recent keynote speech that if the United States accounted for what the Government owes to the future senior citizens of America, the United States is essentially closer to $200 trillion in debt. The United States national debt is as of now estimated at $31.7 trillion.
Reports by him, the Government should reduce its social programs instantly to avoid a worse economic condition down the road.
“It is time that we let go of the false pretense that cutting entitlements is a choice. It is not. Either we cut them today or we will have to cut them much more tomorrow.”
Featured Image: Shutterstock/Natalya Yudina/WindAwake
