Robert Kiyosaki, the well-known author of Rich Dad Poor Dad, is sounding the alarm about the US economy. He thinks we’re on the brink of a major crash, similar to the Great Depression. This is especially worrying for people who have their retirement savings tied up in stocks and bonds.
A Looming Depression?
Kiyosaki recently posted on X (formerly Twitter) that he believes the US is heading for trouble. He points to unsustainable government spending and massive debt, saying the US is the world’s biggest debtor nation ever. He sees parallels to the events leading up to the 1929 crash. He warns that the government’s ability to keep printing money to cover its debts is running out.
He also suggests watching what big-name investors like Warren Buffett and Jim Rogers are doing. They’ve reportedly been selling off stocks and bonds, opting instead for cash and silver – a clear sign of caution. Kiyosaki urges everyone to pay attention to this.
Kiyosaki’s Survival Strategy: Gold, Silver, and Bitcoin
So, what’s Kiyosaki’s plan? He’s sticking with gold, silver, and Bitcoin. Gold and silver are classic safe havens during economic turmoil. But the inclusion of Bitcoin is interesting.
Kiyosaki has previously predicted Bitcoin will reach $1 million per coin. However, in the context of a potential depression, his endorsement of Bitcoin as a hedge against economic collapse is significant. Bitcoin’s recent performance has led many to consider it a safer bet than traditional assets, especially against inflation. For example, it outperformed gold significantly during a brief banking crisis in 2023. A recent report from the Russian Central Bank even shows Bitcoin outperforming gold and silver since 2022.
Currently, Bitcoin is trading at $118,870.