‘Rich Dad Poor Dad’ Author Warns of Market Crash, Touts Bitcoin, Buffett

  • Robert Kiyosaki expects financial markets to suffer the most devastating crash ever.
  • “Rich Dad Poor Dad” author says he bought bitcoin for $9,000 and hopes it gets cheaper again.
  • Kiyosaki dislikes stocks and encourages young people to become entrepreneurs rather than employees.

Robert Kiyosaki says financial markets are heading for the worst crash ever, celebrates the Bitcoin sell-off because he wants to buy more, and compares Warren Buffett’s investing philosophy to his own in a recent Yahoo Finance interview Investment philosophies are compared.

The author of “Rich Dad Poor Dad” also said that the U.S. government borrowed too much money, devalued the dollar, touted the value of debt to investors, and encouraged young people to start businesses instead of working.

Personal finance guru Kiyosaki has been criticizing the federal stimulus plan for months, warning of a historic market bubble and urging investors to stock up on bitcoin, gold and silver.

Here are Kiyosaki’s 10 best quotes from the interview, lightly edited and condensed for clarity:

1. “The next crash is basically an avalanche waiting for the last snowflake. What the federal government has been doing since 2008 is piling up more debt on the mountainside, and they’re just waiting for the next snowflake to hit. It would be the biggest crash in world history.” — Kiyosaki attributes the snowflake analogy to economist and author Jim Rickards’ book, Currency Wars.

2. “They teach you to go to school, get a job, work for this crap. I just compare this crap to gold, silver, and bitcoin.” — Predicts the dollar will become as worthless as the Zimbabwe dollar, and argues that gold, silver And Bitcoin will retain more value.

3. “I got in at $9,000. I still have money, and I’m glad it’s going down so I can buy more, simple.” — Commentary on Bitcoin’s price plummeting from over $60,000 in April Around $34,000 today.

4. “When the yuan becomes a cryptocurrency, and when the dollar becomes a cryptocurrency or a federal currency, what effect will that have on the banking system? That’s the most important question you can ask today.” – Discussing Central Bank Digital Currencies potential impact.

5. “I don’t own stocks. I don’t like stocks. I don’t have to own stocks because I’m an entrepreneur. I build my own assets like rich dad’s company, an international brand. A brand is something Warren Buffett invests in, Like McDonald’s, Gillette or Coca-Cola.”

6. “I say to young people, ‘Don’t be an employee. Be an entrepreneur like Bill Gates or Elon Musk, and you’ll be very rich.’ But if you can sit there and play with stocks, you You can also play bitcoin.”

7. “Build a business that does well in crash, boom or bust. Young people shouldn’t go to school to be employees. They should be entrepreneurs and capitalists, building businesses that create jobs.”

8. “These other idiots are saying, ‘Get out of debt. Live debt free.’ Every time I get a chance to buy a house, I borrow as much as I can. I think I have about $1.2 billion in debt. I make a few hundred a month. $10,000 in cash flow, I don’t pay taxes because the tax system incentivizes people who use debt. Everything they teach you in business school is a bunch of crap.”

9. “Real people like Trump and me, we’re in debt to our eyeballs, and we don’t pay taxes. That’s what we teach, it’s different from everyone else.”

10. “I’m not saying it’s right or wrong to have a stock portfolio, but there are other options. Open your eyes and see how the rich are actually getting richer.”

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