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Robert Kiyosaki, the author of Rich Dad Poor Dad, believes the market downturn he predicted years ago is now here. On social media platform X, he told his 2.7 million followers that the United States could be heading toward an economic depression, not just a recession.
“In my book Rich Dad’s Prophecy, I warned that the biggest stock market crash in history was going to wipe out the financial security of millions of investors… That stock market crash arrived today. We are definitely in a RECESSION and more than likely…a DEPRESSION,” Kiyosaki posted.
As markets continue to fall, Kiyosaki once again pointed to alternatives outside Wall Street. He repeated his long-standing message urging people to consider assets like gold, silver, and Bitcoin. He said, “As I have been suggesting for years, I suggest looking at non-WALL STREET assets. For many years, I have suggested saving real gold, real silver, and today BITCOIN.”
According to Kiyosaki, the government’s likely response to the crash will include printing more money. He warned that this will further reduce the value of the dollar, pushing prices of real assets even higher. “WHY: Because after this paper market crash wipes out millions of fake paper assets. Odds are the Fed and Treasury will turn the printing presses on FULL SPEED, printing trillions in fake money, which becomes even more FAKE. And real money – Gold, Silver, and Bitcoin – go up in value.”
He added that inflation will follow, not because assets are gaining value, but because the dollar is losing purchasing power. “Remember, gold, silver, and Bitcoin ARE NOT going up in price. What is happening is the dollar is going down in value, causing everything of value, such as food, housing and energy to become more expensive, a.k.a. INFLATION… Take care. There are going to be rough storms ahead.”
Monday’s trading in Asia reflected the same fears. Major stock indices dropped sharply, with losses reaching up to 10% in some markets. Cryptocurrencies also faced a heavy sell-off. Bitcoin slipped below $77,000, down more than 7%, while Ethereum and XRP fell more than 15%.