Kiyosaki Warns of Impending Financial Crisis Worse Than 1929

Robert Kiyosaki, renowned author of "Rich Dad Poor Dad," has issued a stark warning about an impending financial crisis. He predicts that the current market downturn will be more severe than the 1929 market collapse, marking the end of what he terms the "everything bubble" and heralding a new era of financial hardship. Kiyosaki's prophecy, outlined in his book "Rich Dad’s Prophecy," suggests that this crash will surpass the magnitude of the Great Depression.

Kiyosaki's warnings come as the stock market experiences significant declines. While specific indices and their performance are not detailed, the overall sentiment is one of uncertainty and fear. Kiyosaki advises against panic, encouraging investors to remain stoic and composed. He draws parallels to the 2008 financial crisis, where he waited for the market to stabilize before investing in real assets at deep discounts.

The current economic climate is further complicated by trade policies, including tariffs on imports from various countries. These policies have created uncertainty, with traders unsure of the outcomes and potential disruptions to supply chains. Kiyosaki advises investors to stay firm in their strategies despite the turmoil.

Kiyosaki's views on Bitcoin are particularly noteworthy. He criticizes Bitcoin ETFs, arguing that they are an extension of the financial system and do not provide the same level of control and security as owning Bitcoin directly. He advocates for holding hard assets like gold, silver, and Bitcoin, emphasizing the importance of personal ownership and control. Kiyosaki believes that market dips present excellent opportunities to acquire more of these assets, viewing fiat currency as inherently unstable due to its susceptibility to inflation.

Kiyosaki also highlights the vulnerability of Baby Boomers who have relied on Defined Contribution plans, such as 401k and IRAs, rather than Defined Benefit plans. He warns that these plans, which do not guarantee a set payout, could be wiped out in a major crash, leaving millions of retirees at risk. Kiyosaki's long-held belief is that hard assets offer the best protection against financial collapse, and he continues to advocate for this strategy in the face of the current market conditions.