Rich daddy, poor daddy is one of the most iconic self-help books of the 90s.
Written by Robert Kiyosaki and Sharon Lechter, the book emphasizes the importance of financial literacy, independence and wealth building. He explains the benefit of buying assets, investing in real estate, and starting and owning businesses (as well as increasing your financial IQ).
One of its authors, Robert Kiyosaki, has a fairly large Twitter audience (1.7 million to be precise).
It made waves online then, when he this week warned of an impending stock market crash.
On September 26, Kiyosaki tweeted, “A giant stock market crash coming in October. Why? Treasury and Fed run out of treasury bills. Gold, silver, Bitcoin can also crash. Better cash for picking up good deals after a crash. Do not sell Bitcoin or silver, but have a lot of money for life after the stock market crash. Dangerous stocks. Careful.”
Giant stock market crash coming in October. Why? Treasury and Fed run out of treasury bills. Gold, silver, Bitcoin can also crash. Better cash for picking up good deals after a crash. Do not sell Bitcoin or silver, but have a lot of money for life after the stock market crash. Dangerous stocks. Careful
– therealkiyosaki (@theRealKiyosaki) September 26, 2021
Not everyone agreed with him. Some of its supporters have made their own claims and observations.
One, for example, pointed out that Kiyosaki had previously predicted accidents, suggesting that a broken clock gives the time at least twice a day.
He says it often enough and rarely enough to be right at any given time. So hell is like “see guys, I was right all along meeeeeh!”
– Brandon (@brandonwaring_) September 28, 2021
Bezinga recalls that since October 2020, Bitcoin has seen its price appreciate by more than 300%.
Recent tweets suggest that Kiyosaki is investing in gold, Bitcoin, and silver due to his lack of confidence in US political leaders, the Treasury, the Fed, and even the stock market.
The governors of the FED have been caught off guard by their own political decisions. You and I would go to jail doing what they do. This is why I am saving Gold, Silver and Bitcoin. I don’t trust the Fed, the Treasury, or Wall Street. I trust God’s money, gold and peoples silver and money, Bitcoin. Take care.
– therealkiyosaki (@theRealKiyosaki) September 27, 2021
Others argue that even if a bubble does develop, it is not a bubble that they plan to be allowed to fail by the authorities (at least for now), and one that they plan to enjoy as long as ” free money ”will continue to flow into the economy. .
Only time (and bank balances) will tell …