Whoops! Robert Kiyosaki Predicts Big Stock Markets Will Collapse, What's The Fate Of Crypto?

The author of Rich Dad Poor Dad predicts stock and crypto markets will fall (yandex)

JAKARTA – The well-known investor and author of financial management book Rich Dad Poor Dad, Robert Kiyosaki predicts the collapse of the giant stock market in October. This was likely followed by a crash of the crypto market. In addition to stocks and crypto, he also mentioned that the price of gold and silver will also fall.

Kiyosaki's prediction was conveyed in a Twitter tweet on September 26 yesterday. He said that the stock market is currently in a dangerous condition. Kiyosaki appealed to investors to be more careful.

“The giant stock market crash came in October. Why? Treasury and Fed short on T-bills. Gold, silver, bitcoin can crash too. It's best to use cash to pick up bargains after a crash. Not selling gold, silver, bitcoin, but had plenty of money to live on after the stock market crash. Dangerous stock. Careful."

Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold,silver,Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks are dangerous. Careful

— therealkiyosaki (@theRealKiyosaki) September 26, 2021

Launching Bitcoin.com News, Robert Kiyosaki is a writer and investor who is vocal in revealing the possibility of a market crash. In June, Kiyosaki warned that a "big crash" was coming because the "big bubble" in world history was "getting bigger". At that time he suggested buying gold, silver, and Bitcoin.

For information, the book Rich Dad Poor Dad was first published in 1997, written by Robert Kiyosaki and Sharon Lechter. The book has been on the New York Times bestseller list for more than six years. Rich Dad Poor Dad has more than 32 million copies in print, translated into 51 languages and sold in 109 countries.

In addition, Robert Kiyosaki also responded to the Chinese government's strict ban on cryptocurrencies. According to him, that means China will launch its own government coin. He also worries about the possibility of the US government following China's lead. If that happens then "our freedom ends".

“This morning China announced its new crackdown on crypto. What does it mean? That means China will launch its government crypto coin. If the US follows, Fed coins means bitcoin is banned, the US becomes a centralized government, like China, US communism begins, our freedom ends.”

China has already successfully tested its digital yuan. However, the US has yet to make a decision on whether or not to issue its own central bank digital currency (CBDC) as its competitors do. The Fed Chair, Jerome Powell said that his party will discuss this soon.

Some see China's actions as positive, including some US lawmakers. According to them this is a great opportunity for the US to become a leader in the field of cryptocurrencies. When China responds negatively to crypto, the US has a great opportunity to enter the crypto world and become the leader.

“China's authoritarian crackdown on cryptocurrencies, including bitcoin, is a huge opportunity for the US. It is also a reminder of our great structural advantage over China," said Senator Pat Toomey.