- Robert Kiyosaki warned that the US economy is heading for a severe downturn.
- The "Rich Dad Poor Dad" author touted bitcoin, silver and gold as good investments.
Robert Kiyosaki warned the US economy is heading for a severe downturn, saying investors should buy bitcoin, gold and silver to hedge against what he called "corruption and incompetence."
"SOFT LANDING? HARD LANDING? Or CRASH LANDING? I say crash landing. I hope I am wrong yet that is what I believe. Corruption is high & leaders corrupt. Buy gold, silver, Bitcoin. Still best insurance against corruption & incompetence," the personal-finance guru said in a tweet on Thursday.
The famed "Rich Dad Poor Dad" author is a frequent economic doomsayer, having previously predicted the worst market crash in world history in 2021.
Last year, he slammed the world's largest cryptocurrency as speculative play but recently backtracked on his claim. Now, he "loves" the token because of its decentralized qualities, meaning it's not controlled by an external body in the way central banks and governments manage fiat currencies.
Kiyosaki has touted gold for years, and previously referred to the yellow metal, silver and bitcoin as "real money" as opposed to cash, which he called "trash." The precious metal is considered to be a safe-haven against inflation, and has risen nearly 8% since the start of the year.
Inflation has stayed well above the Fed's 2% target over the past year, coming in at 4.9% in April. Though inflation has been on the decline since mid-2022, experts say inflationary pressures are still lingering in the economy.
Kiyosaki recently touted his best investments against inflation that could protect traders as rising prices weigh on other assets – and urged investors to buy gold, real estate, gas, and food.