FX168 Financial News Agency (Asia Pacific) reported that shortly after the start of the biggest stock market crash in history, Robert Kiyosaki, the famous investor and author of the best-selling personal finance book 'Rich Dad Poor Dad', warned that he believes there is a 'complete collusion' between the Federal Reserve and Wall Street.
(Screenshot source: Finbold)
On the Rich Dad Channel podcast, which aired on September 18, Robert Kiyosaki, along with his wife and investment partner Kim Kiyosaki, investment advisor Andy Tanner, and financial expert Nomi Prins, discussed how to best deal with market fluctuations.
Kiyosaki stated that the Federal Reserve colludes with the CEOs of major Wall Street companies, abusing the economic flow of the United States, and using 'fake money' or dollars to achieve their financial advantage.
He explained, "The fake money flows into the hands of the CEOs of Wall Street, they buy back stocks, which makes the stock market thrive, but this money is not used to increase production. Real money comes from production, just like I am a farmer, I produce cabbage, that's production. But what the Federal Reserve does, it gets the money, and these guys in the American business world take the money, they buy back their stocks, and then bail out under capital gains. It's a complete collusion with Wall Street."
On the other hand, Kiyosaki reiterated his view that a market collapse is an ideal opportunity to increase wealth. He pointed out, "Kim and I became very rich during the market crash."
Meanwhile, Kiyosaki believes that the 'dumbest thing' you can do during market fluctuations is to 'invest long-term in diversified stocks, commodities, mutual funds, and exchange-traded funds (ETFs)', but that's exactly what the baby boomer generation was taught by the school system.
Robert Kiyosaki has long believed that the Federal Reserve and its policies are "criminal," and he believes that the Fed's actions violate the law, and the only way to protect personal wealth is to invest in assets such as gold, silver, and cryptos like bitcoin.
(Screenshot source: X)
Recently, he also warned that the national debt of the United States will "kill us," pointing out that the issue of increasing U.S. debt issuance is part of the debt, which in his view will "destroy" the U.S. economy.
Robert Kiyosaki had warned at the end of August that the U.S. adds 1 trillion dollars of debt every 100 days. He recommended investing in gold, silver, and bitcoin as a hedge against economic instability. He also pointed out the danger of relying on traditional banks, claiming that bank panics are often hidden, leaving most people unaware of when their bank will go bankrupt.
Known for his financial insights, Robert Kiyosaki issued a warning on social media platform X about the U.S. economy, emphasizing that the United States accumulates 1 trillion dollars of debt every 100 days.
The current U.S. national debt is 35.256 trillion dollars. Kiyosaki recommends purchasing gold, silver, and bitcoin as a hedge against economic instability, and emphasizes that these assets are a means of preserving value.
The renowned author wrote on social media platform X on August 22: "How much is a trillion? A trillion seconds is 31,688 years ago. The U.S. accumulates 1 trillion dollars of debt every 100 days. Now you know why you must buy gold, silver, and bitcoin, right?"
Robert Kiyosaki's "Rich Dad Poor Dad" is one of the world's best-selling books, translated into 51 languages and sold more than 32 million copies in more than 109 countries.
The Rich Dad Poor Dad book series has repeatedly topped the bestseller list of major US media such as Business Week, The New York Times, and The Wall Street Journal.