Robert Kiyosaki, the famous author of the bestseller “Rich Dad, Poor Dad,” warns that if the Federal Reserve keeps raising interest rates, stocks, bonds, real estate and the US dollar will crash. He warns that the next crash will be “one trillion to one trillion. He predicts the next crash will be “a trillion dollar derivatives market.”
Robert Kiyosaki on Rate Hikes and Market Crash
Rich Dad, Poor Dad was co-authored by Kiyosaki and Sharon Rector and published in 1997. It has been on the New York Times bestseller list for more than six years. The book has sold more than 32 million copies in over 109 countries and in more than 51 languages.
Kiyosaki tweeted Thursday:
Raising interest rates will cause stocks, bonds, real estate, and the&dollar to crash. The next crash is the one quadrillion derivatives market; one quadrillion is one thousand trillion yen.
The Federal Reserve raised interest rates by 25 basis points (bps) on Wednesday, and while many expect the Fed to begin cutting rates soon, Fed Chairman Jerome Powell said a rate cut is not in the Fed’s base case.
This is not the first time Kiyosaki has warned about a crash in stocks, bonds, real estate, and the US dollar. Last week, the well-known author argued that “there is a crash landing ahead” as bank bailouts began following the collapse of major banks such as Silicon Valley Bank and Signature Bank. He also predicted the demise of the U.S. dollar and called the U.S. dollar a “counterfeit currency.”
The prominent writer also recently predicted that the global economy is on the verge of collapse and that bank runs, savings freezes, and bailouts are to be expected; in February, he said that “everything will crash.” Earlier this year, he warned of a global recession and a surge in bankruptcies, unemployment, and homelessness.
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