Hyperinflation And Depression Are Happening, Says Rich Dad Poor Dad Author Robert Kiyosaki

Robert Kiyosaki is the author of Rich Dad Poor Dad. (RichDad)

JAKARTA – Robert Kiyosaki, author of the investment book Rich Dad Poor Dad, recently gave a warning regarding the economic condition of the United States. He judged that a huge bubble burst was imminent.

Kiyosaki argues that hyperinflation and depression are happening right now. Therefore he recommends buying gold, silver, and Bitcoin as a store of value from inflation of fiat money.

The bestselling author claims that baby boomers' pension funds will be "stolen". He also predicts the 10 trillion dollars in counterfeit money will soon be over. Furthermore, Kiyosaki called the US government, Wall Street, and the Fed a thief.

“The last time this happened was in 2008 … In 2008 I borrowed 300 million US dollars to buy good real estate, at a low price. It's time to get rich again. Time to be smart, not greedy," he tweeted.

In addition, Kiyosaki also predicts that weak businesses and greedy investors will fail. In addition to the author of this financial management book, a number of economists also predict the coming of a recession on the US economic horizon even though the Fed has often been fighting the highest inflation for more than 40 years.

JPMorgan Chase CEO Jamie Dimon, for example, said this week that the risk of the Federal Reserve pushing the US economy into a recession is increasing. Former Treasury Secretary Larry Summers also said a recession was the "most likely" outcome for the US economy, not a soft landing.