WARNING! The biggest Crash of our Life time is Here… (Robert Kiyosaky)
Investing in gold & silver could be your saving grace from a major financial collapse.
“Rich Dad Poor Dad” author Robert Kiyosaki sounds the alarm at just how bad this downturn could be. The stock market has been on a roller-coaster ride this year, and not in a good way. After reaching record highs in February, the S&P 500 and Nasdaq Composite have both taken a nosedive, with the former down 23% and the latter 31%. While there are many factors behind the market sell-off, one of the most important is the rise in interest rates. “This is going to be the biggest crash in world history, we’ve never had this much debt pumped up,” Robert Kiyosaki said in an interview earlier this month.
Biggest Crash in World History
The Wall Street analyst and investor who called the 2008 Lehman Brothers’ collapse has revealed what bank he thinks will hit insolvency next amid Silicon Valley Bank (SVB) closure shockwaves.
“The problem is the bond market, and my prediction, I called Lehman Brothers years ago, and I think the next bank to go is Credit Suisse,” the Rich Dad Company co-founder Robert Kiyosaki said on “Cavuto: Coast to Coast” Monday, “because the bond market is crashing.”
Just days after SVB, the California-based bank primarily used by tech industry companies and startups, declared bankruptcy, New York-based Signature Bank announced it would be shutting down to protect consumers and the financial system.
Similarly to SVB, Signature Bank was famous among crypto companies.
The institution provided deposit services for its clients’ digital assets but did not make loans collateralized by them.
The closure announcement came in a joint statement from the U.S. Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC).
Amid SVB’s fallout and related bank runs, Robert Kiyosaki advised investing in silver and gold. >>REUTERS<<
The regulators said SVB clients would have access to their money starting Monday, at no expense to the American taxpayer.
Similar recourse will soon be provided toSignature Bank clients, regulators also claimed.
Kiyosaki further explained how the bond market – the economy’s “biggest problem” – will put the U.S. in “serious trouble” as he expects the American dollar to weaken.
Silicon Valley Bank clients reportedly will have access to their accounts beginning Monday. >>AP<<
“The U.S. dollar is losing its homogeny in the world right now. So they’re going to print more and more and more of this,” the expert said while holding up a dollar bill, “trying to keep this thing from sinking.”
He further expressed concern over pension plans and individual retirement accounts (IRAs) in the current market environment, adding the American taxpayer will be hit hardest by bank bailouts.
“My generation, the boomers, we’re trying to retire. So this is the perfect storm in many ways,” Kiyosaki said. “Like I said, again, I think the Fed and the FDIC signaled they’re going to print again, which makes stocks good. But this little silver coin here is still the best, it’s 35 bucks, so I reckon anybody can afford $35, and I’m concerned about Credit Suisse.”
Amid hyperinflation and printing more money, Kiyosaki advised exploring or buying into silver and gold investments during a volatile market.
“The Fed and the FDIC are signaling hyperinflation, which makes gold and silver even better because this thing here is trash. They’re going to spread more and more of this fake money, and that’s what the Fed and the FDIC are signaling: we’re going to print as much of this as possible to keep the crash from accelerating. But they’re the guys who are causing it,” the market expert said
Investing in gold & silver could be your saving grace from a major financial collapse.
When Kiyosaki was asked if he was adding anything to his portfolio, his response was simple: “I’m buying more gold and silver.” Kiyosaki sees a glorious revival on the horizon. “Silver to stay at $20 for 3-5 years, then climb to $100 to $500,” he says in a recent Tweet, adding that “everyone can afford silver” and “accumulate silver now.” For gold, he points to fellow investing guru Jim Rickards, who once predicted yellow metal to soar to $15,000 an ounce. “I like his numbers. I think $15,000 is not out of the question for gold,” Kiyosaki says.
While there are a few options to gain exposure to gold and silver, he prefers to just buy the metal directly. Earlier this year, he tweeted that he only wants “real gold or silver coins” and not ETFs.
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