Robert Kiyosaki foresees a new depression

Bitcoin, gold and silver are top picks from Rich Dad Poor Dad best-selling author Robert Kiyosaki, as he foresees a “great crash” and a “new depression” in the United States.

Once again, Kiyosaki insisted that the U.S. is “falling into a depression,” and strongly recommends buying gold, silver, and bitcoin to get over what hasn’t happened yet. Some of his followers were skeptical this time, as he had been warning for a while.

Related reading | Rich Dad Poor Dad Kiyosaki is buying more Bitcoin today, but why?

In addition to his purported predictions, he also commented on a Biden administration and reviewed his stance on the Fed, arguing that they are all “blackmailing people” by fueling inflation rather than trying to lower it to prevent a “new depression” . The low-income group is most affected.

Biden and the Fed need inflation to prevent a new depression. Inflation deprives the poor. Inflation makes the rich richer. Biden and the Fed are corrupt. Prepare for: a huge crash, followed by a new depression. Buy Smart, Gold, Silver Bitcoin.

Kiyosaki has been very enthusiastic about Bitcoin in the past and has been very vocal about his political stance. Recently he said, “I love Bitcoin because I don’t trust the Fed, the Treasury, or Wall Street.”

Bitcoin is seen by many as a necessity, a great innovation in decentralized governance, and represents a hedge against inflation. While some claim it’s still too young or too precarious, our current economic model is experienced but not strong enough to focus on the needs of the majority: the lower middle class.

Bitcoin just hit a new all-time high as the U.S. dollar fell. Since the world’s policies and regulations did not prevent us from entering a global economic crisis, Bitcoin’s limited supply represents a victory against instability.

JPMorgan said earlier this year that “institutional investors appear to be returning to bitcoin, perhaps seeing it as a better inflation hedge than gold.”

Behind the song “Let’s Go, Brandon”

Kiyosaki’s tweet also read “Let’s go, Brandon.” It’s the meme born during an interview with race car driver Brandon Brown that turned the chant into a rewrite of the word “F*** Joe Biden.” It is now used when expressing disappointment with Biden’s bill and administration, as many say he is fueling inflation.

Many expressed outrage at the Democrats’ agenda. Sen. Rick Scott told Fox News that “Biden has no idea how the economy works” and claimed Democrats have done nothing to address rising inflation.

Related Reading | Bitcoin Hits $35,000 as Biden Stimulus Hurts Dollar

Gas and energy prices have risen during the administration, as have food and other basic needs. The senator claimed it was all down to government spending.

On the other hand, FactChack.org summarizes statistics for “Donald Trump’s time in office.” When considering rising inflation and targeting only a Biden administration, we should not forget the following:

Real (inflation-adjusted) gross domestic product rose in Trump’s first two years in office and is estimated to peak at 2.9% in 2018 — the highest level since 2005. But the economy grew just 2.3% in 2019 and bottomed out in 2020.

Real GDP in 2020 fell by 3.4% from the previous year. It was the biggest drop since 1947, when the country’s economy fell 11.6% after a multi-year expansion fueled by World War II.

For these facts, we can add that 2.9 million jobs were lost, the U.S. trade deficit was at its highest level since 2008, the federal debt rose from $14.4 trillion to $21.6 trillion, and more unfortunate numbers didn’t materialize before President’s Promise.

Currently, we come across a report from the Biden administration that is friendly towards Americans using stablecoins as a common payment method. They are working on possible regulations aimed at limiting digital assets issued by insured banks.

Bitcoin price in daily chat is $61,821 | Source: BTCUSD on TradingView.com

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