Rich Dad Poor Dad is one of the most iconic self-help books of the ’90s.
Written by Robert Kiyosaki and Sharon Lechter, the book highlights the importance of financial literacy, independence and wealth building. It explains the benefit of purchasing assets, investing in real estate and starting and owning businesses (as well as increasing one’s financial IQ).
One of its authors, Robert Kiyosaki, has rather a substantial Twitter following (1.7 million, to be precise).
It made waves online then, when he, this week, warned of an imminent stock market crash.
On September the 26th, Kiyosaki tweeted: “Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold,silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful.”
Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold,silver, Bitcoin may crash too. Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful
— therealkiyosaki (@theRealKiyosaki) September 26, 2021
Not everyone agreed with him. Some of his followers made some claims and observations of their own.
One, for instance, pointed out Kiyosaki had predicted crashes before, suggesting that a broken clock gets the time right at least twice a day.
😂 He says it often enough and infrequently enough to be right at some point. Then hell be like “see guys I was right all along meeeeeh!”
— Brandon (@brandonwaring_) September 28, 2021
Bezinga points out that since October 2020, Bitcoin has seen its price appreciate by more than 300%.
Recent tweets suggest Kiyosaki invests in gold, Bitcoin, and silver due to his lack of trust in America’s political leaders, Treasury, the Fed, and even the stock market.
FED Governors caught “Front Running” their own policy decisions. You and I would go to jail doing what they do.That is why I save gold, silver, and Bitcoin. I do not trust the Fed, Treasury, or Wall Street. I trust Gods money, gold & silver and Peoples money, Bitcoin. Take care.
— therealkiyosaki (@theRealKiyosaki) September 27, 2021
Others argue that while a bubble is growing, it’s not one they anticipate being allowed to fail by authorities (at least for the time being), and one they plan to profit from as long as “free money” continues to be pumped into the economy.
Only time (and bank balances) will tell…