Robert Kiyosaki foretells that his prophecy of a stock market crash is unfolding
In a recent development, financial guru Robert Kiyosaki, the author of the best-selling book "Rich Dad Poor Dad," has reiterated a prediction he made in his 2014 book "Rich Dad's Prophecy." Kiyosaki believes that an impending stock market collapse has occurred.
Kiyosaki, known for his unconventional financial advice, has expressed his scepticism towards Exchange-Traded Funds (ETFs), deeming them as questionable as the US dollar and US bonds. He advocates for direct investment in tangible assets like gold, silver, and Bitcoin as a means to counter what he calls a "corrupt and criminal monetary Ponzi Scheme."
In a surprising turn of events, President Trump signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. The initiative, described as a step toward making the U.S. the "crypto capital of the world," aims to position the United States as a leader in the digital asset space. The Treasury Department will manage the stockpile of confiscated cryptocurrencies, while the Strategic Bitcoin Reserve will be funded solely through Bitcoin seized from criminal and civil forfeiture cases.
Kiyosaki's support for Bitcoin has grown amid President Trump's administration's cryptocurrency initiatives. However, it's important to note that there is no confirmed information about President Trump issuing an executive order in any year to establish a strategic Bitcoin reserve or assign its management to any organization.
In a different context, Kiyosaki has criticised Wall Street and academic education for not providing sufficient protection for investors in the real world of "banksters." He believes that the shift to Defined Contribution (DC) pension plans like 401(k)s and IRAs has introduced a fundamental weakness in today's retirement systems. In a market crash, DC pension plans only need to pay what the investor has contributed, whereas Defined Benefit (DB) pension plans are required to pay as promised to the investor.
The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Despite his focus on Bitcoin, Kiyosaki has been silent on his views regarding Shiba Inu or other altcoins.
As always, it's crucial for investors to approach the world of cryptocurrencies with caution, heeding Kiyosaki's warnings about the risks associated with ETFs and other investment vehicles. The education system, he argues, fails to provide credible financial education, leaving many investors vulnerable to financial missteps.
