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Inflationary pressures, increasing interest rates, and a weakening property market in the United States continue to send worries through the stock market.
Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has spoken on what he considers to be the “greatest investment deal today.”
The “real problem,” according to Rich Dad Poor Dad author Robert Kiyosaki, is what’s going on in the bond market. Government bond prices surged globally on Friday as lackluster economic data from the United States and Europe fuelled concerns about weakening global growth. During financial hardship, investors often perceive government bonds as safe havens. In other words, rising bond prices frequently indicate negative news for the economy.
“The bond market is 40 times larger than the stock market.” Please focus on bonds rather than equities,” Kiyosaki tweeted on Friday. “There will be a major crash. Take precautions.”
What’s the good news? Kiyosaki also shared insight on how he’s prepared for the impending downfall.
“I’m purchasing additional gold and silver right now and waiting for Bitcoin to fall,” he says in another tweet the same day.
The famed author also predicted that equities and bonds would drop and that a downturn and public turmoil would follow. Furthermore, he warned that inflation may lead to a “Greater Depression.”
Robert Kiyosaki, the author of Rich Dad Poor Dad, has advised investors to purchase silver, claiming that the precious metal offers the highest investment value today.
Kiyosaki tweeted Thursday: “Q: What is the best investment value today?” He replied that the answer is silver, noting that gold’s price has climbed above $1,700, but silver has fallen to $20. “I do not touch paper gold or silver ETFs [exchange-traded funds]. I only want real gold or silver coins. Silver is a precious industrial metal. Gold is not. Do not take my word for it. Study precious metals,” he detailed.
This was not the first time the well-known author suggested purchasing silver. He warned in July that the US bond market was collapsing, calling it the “biggest bond crash since 1788. He added: “I am buying more gold and silver now and waiting for bitcoin to go lower.”