Famous investor and entrepreneur Robert Kiyosaki has warned that a global economic “crash” is coming, accompanied by times of famine.
While he foresees situations only depicted in post-apocalyptic movies, he warns everyone to gather “gas, ground, guns and gold” because soon only these will have value.
“Therefore, prepare yourself,” he points out.
In an interview with Chris Martenson, author of the re-released book “The Crash Course,” which deals with a series of crises the world is experiencing and their interconnectedness, on the episode of The Rich Dad Radio Show that aired on February 22, commented:
“This is a prophetic book, warning us of what is to come, implying the biggest stock market crash in history is coming. When the crash of 2008 hit, it didn’t solve the problem, it made it worse. But it was easy to predict because the biggest crash was just around the corner. And I think we’re once again in a similar situation.”
In addition, the personal finance guru expressed his pessimistic expectations of a coming famine and subsequent social unrest, along with suggestions for dealing with the crisis. Referring to how to survive the impending catastrophic crisis, he spoke of four “G’s”, ground, gasoline, guns and gold.
Biggest problem and catalyst to cause the biggest bubble in history, according to Kiyosaki, are broken supply chains. Supply chains are the foundation of the economy and are so complex that one can hardly understand their operation.
“The supply chain is not part of the economy. The supply chain is the economy. It’s made up of broad, expansive and lots of moving parts that you can model, there’s some math you can apply, but no one can understand it all.”
Kiyosaki also identified political instability as a major threat to the economy.
In this regard, he singled out the dispute between the US and China for control of the global economy, a factor that will determine the future. He noted that there is a mutual willingness on the part of both the US and China to disengage from each other, which may lead to resilience.
“So they will take natural resources from Africa and outsource their production to South Asia. So life will go on, it will be much less efficient but more durable, and that’s the trade-off,” he added.
Robert Kiyosaki had expressed concern that rising inflation would “wipe out 50% of the US population” and that pensions would go unpaid if the stock market crashed. According to him, fiat currencies are now worthless due to inflation and central banks overprinting it.
As he explained, “You can go anywhere with gold and silver, and they say ‘welcome!’ You go with these paper things and they tell you: “we don’t know what their value is anymore, because they print so many of them”.
The days of the US dollar as the world’s reserve currency are numbered.
“The dollar was as good as gold, but everything has changed, and today we are facing serious problems worldwide. I am very concerned that the end of the American Empire has come.”
It is worth noting that Kiyosaki has been warning for some time about a “giant crash”. In mid-February, he explained that the United States Federal Reserve was “forced to print billions in counterfeit money ,” as he described the US dollar.
Along with silver and gold, he praised Bitcoin (BTC) as one of the three “hottest things on earth,” referring to the flagship decentralized finance (DeFi) asset as “people’s money” and attributing its bullish rally earlier this year in increasing demand for alternative investment products.
In late January, he also warned of a “hard economic landing” as a result of rising “bad news, bankruptcy, unemployment [and] homelessness,” while suggesting investment in precious metals and Bitcoin — assets that could counter the coming financial crisis storm.