The renowned author of the book Rich Dad, Poor Dad, Robert Kiyosaki, warned about the looming global financial catastrophe. The also businessman urged investors to dump paper assets and said the economy is "the biggest bubble in world history."
Many of you know I do not invest in equities, bonds, ETS or MFs. Please DO NOT listen to what I'm going to say next: "I would get out of paper assets." The world economy is not a "Market." I believe economy is the biggest bubble in world history. God have mercy on us all.
- therealkiyosaki (@theRealKiyosaki) November 25, 2022
Kiyosaki's comments come amidst predictions from major investment banks which expect global economic growth to continue to slow in 2023 due to consequences of high inflation and rising interest rates.
Bitcoin and metals optimism
Although the crypto market has been affected by the collapse of FTX, Kiyosaki remains bullish on Bitcoin, Ethereum and precious metals. He argues that these assets will be the strongest assets in the event that the global economy collapses:
I prefer gold and silver ... Gold and silver are God's money.
The investor predicted that Bitcoin could surpass $1 million in value in five years. He predicted that the crypto revolution "will be bigger than the gunpowder revolution":
I’m still bullish on bitcoin … Bitcoin is not the same as Sam Bankman-Fried. It’s not bitcoin, it’s FTX that’s the problem. I’m still in favor of bitcoin. I’m not against it as many people in my age group are because I think bitcoin is solid ... I’m actually more into blockchain and I do own Ethereum.
