In a thought-provoking tweet on Monday, Robert Kiyosaki, the famed author of the best-selling book, “Rich Dad Poor Dad,” highlighted the potential of a upcoming financial depression and advised caution for those who have their fortunes tied to stocks and bonds.
Kiyosaki, an entrepreneur and independent thinker, commented on how he can see signs of a severe market crash, citing, “Afraid depression coming.” He recommended that those investing in these markets get professional advice and appreciate the inherent risks of such volatile tools.
A myriad of external factors are leading to these warnings from Kiyosaki, including a global backdrop of economic uncertainty, the dizzying rise of the digital currencies Bitcoin and Ethereum, and even the miniscule prices seen and lack of customers featured in restaurants – an observation he made earlier this year that was pointed to as another indicator of economic recession bordering depression!
Advocating fiat currency alternatives, Kiyosaki suggested that Bitcoin could reach a statement-making $120,000 peak and emphasizing his faith in cryptocurrencies as the safe harbour against risks posed from traditional fiat currency.
However, prophecies of currency deflation and recession come with its criticism, and many analysts dismiss the warnings of Kiyosaki, and the predictions offered around fundamentals such as emerging markets, low interest rates and Bitcoin.
