Robert Kiyosaki Warns of Financial Market Risks
Renowned advocate of Bitcoin, Robert Kiyosaki, and author of the well-known guide on personal finance, recently shared his insights on the current state of traditional financial markets in a tweet.
Expressing caution, Kiyosaki foresees a challenging future for conventional financial systems. Despite positive indicators in the stock market, with the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 showing gains within the last 24 hours, Kiyosaki believes that appearances can be deceiving.
The stock market is climbing higher and higher. Suckers actually believe the economy is strong. Don’t be fooled. The Magnificent 7 financed by US government dollars keeps stock market up. Please be careful. Stock and Bond markets about to crash.
— Robert Kiyosaki (@theRealKiyosaki) February 3, 2024
While market statistics suggest a robust economy, Kiyosaki contends that the true strength of the U.S. economy is questionable. He attributes the market’s upward trend to what he calls the “Magnificent Seven” – major companies like Apple, Alphabet, Meta Platforms, Amazon, Microsoft, NVIDIA, and Tesla – which he claims are propped up by U.S. government funding.
Kiyosaki issues a word of caution to investors, anticipating an imminent crash in both stock and bond markets. However, skepticism prevails among some observers, with doubts raised about Kiyosaki’s track record in predicting market downturns.
Critics highlight his past predictions of market crashes and the decline of the U.S. dollar over the last four or five years, questioning his credibility as a financial expert. Screenshots of his previous “crash predictions” have even been shared by some skeptics.
In a tweet posted three days ago, Kiyosaki elaborated on his decision to invest in Bitcoin, considering it a safeguard against the erosion of wealth through conventional monetary channels.
Why I own Bitcoin. Bitcoin is protection against the theft of our wealth via our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers steal our wealth via our money, specifically via inflation, taxation, & stock price manipulation. That is why I save…
— Robert Kiyosaki (@theRealKiyosaki) January 31, 2024
According to him, the Federal Reserve chairman, Treasury secretary, and Wall Street bankers exploit average Americans through tactics such as inflation, taxation, and manipulation of stock prices.