The well-known writer of the best-selling ebook Wealthy Dad Poor Dad, Robert Kiyosaki, has warned that the Federal Reserve’s continued price hikes will crash shares, bonds, actual property, in addition to the U.S. greenback. He expects the subsequent crash to be the “$1 quadrillion derivatives market.”
Robert Kiyosaki on Curiosity Fee Hikes, Market Crashes
The writer of Wealthy Dad Poor Dad, Robert Kiyosaki, reiterated his warnings of market crashes and the hazard of the Federal Reserve elevating rates of interest this week. Wealthy Dad Poor Dad is a 1997 ebook co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Occasions Finest Vendor Record for over six years. Greater than 32 million copies of the ebook have been offered in over 51 languages throughout greater than 109 nations.
Kiyosaki tweeted Thursday:
Elevating rates of interest will crash shares, bonds, actual property, & $ U.S. greenback. Subsequent crash: $1 quadrillion derivatives market. $1 quadrillion is $1 thousand trillion.
The Federal Reserve raised rates of interest by 25 foundation factors (bps) on Wednesday. Whereas quite a lot of individuals count on the Fed to begin reducing charges quickly, Fed Chair Jerome Powell mentioned that price cuts are usually not within the Fed’s base case.
This was not the primary time Kiyosaki has warned about shares, bonds, actual property, and the U.S. greenback crashing. Final week, the well-known writer mentioned a “crash touchdown forward” as financial institution bailouts started following the collapse of main banks, together with Silicon Valley Financial institution and Signature Financial institution. He additionally predicted the top of the U.S. greenback, calling the USD “pretend cash.”
The famend writer additionally just lately predicted that the world economic system is on the snapping point, anticipating financial institution runs, frozen financial savings, and bail-ins. In February, he mentioned that every little thing will crash. Earlier this 12 months, he mentioned we’re in a world recession, warning of hovering bankruptcies, unemployment, and homelessness.
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