Robert Kiyosaki warns that the Fed’s interest rate hike will destroy the US economy

Noted best-selling author of Rich Dad Poor Dad, Robert Kiyosaki argues that the Federal Reserve will destroy the American economy by raising interest rates. He advises people to invest in “real money”, citing bitcoin as an example.

Robert Kiyosaki on Fed rate hikes, the US economy and bitcoin.

Rich Dad Poor Dad author Robert Kiyosaki is back with new warnings about the US economy and advice on where investors should put their money.

Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It was on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 51 languages ​​and over 109 countries.

On Friday, Kiyosaki tweeted that “savings are losers” and clarified:

Today, American debt is in the hundreds of trillions. REAL INFLATION is 16%, not 7%. Raising interest rates by the Fed will destroy the American economy. Contributors will be the biggest losers. Invest in REAL MONEY. Gold, silver and bitcoin.

A number of economists, including those at brokerage firm Nomura Securities, are forecasting a 100 basis point hike in the Fed’s short-term interest rate next week. Investment strategist Ed Yardeni told CNBC on Friday that he thinks the Fed is “going to change its mind and come to the conclusion that we may have to do away with it, maybe 100 basis points instead of 75 basis points. And then maybe another climb after that.”

Some people, such as Tesla CEO Elon Musk and Ark Invest CEO Cathy Wood, have warned that a sharp Fed rate hike could cause deflation in the US economy.

Kiyosaki repeatedly warned that the biggest collapse in world history was inevitable. In April, he said that all markets are collapsing. He has already recommended gold, silver and bitcoin. However, he recently said that gold is expensive and called silver the best investment to date.

Last week, he urged his mailing list subscribers to get into cryptocurrencies now, ahead of the biggest crash in world history.

The well-known author has been advising investors to buy bitcoin for some time now, saying for months now that he is waiting for the price of the cryptocurrency to bottom out before entering it. After revealing he was waiting for BTC to test $1,100, he said in July that he had a cash position ready to buy the cryptocurrency. Bitcoin is trading at $20,103, down 6% over the past seven days and down 14% over the past 30 days.

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