Confidence in the dollar will collapse by 2025, claims prominent author
Renowned author and economist Robert Kiyosaki has warned investors that the stock market is about to crash and the US economy is headed for a “recession.”
According to the co-authors of “Rich Dad Poor Dad,” this will be accelerated by the fact that the US Federal Reserve will print billions of dollars in “fake money.”
“Huge crash coming. Possible depression,” Kiyosaki tweeted late Sunday.
He also wrote that Bitcoin will reach $500,000 by 2025, followed by gold and silver prices of $5,000 and $500, respectively. He explained that this is because “trust in the US dollar, fake money will be destroyed”, adding that Bitcoin is the people’s money, while gold and silver are “God’s money”.
Currently, the spot price of gold is $1,856.58 per ounce, the spot price of silver is $21.99 per ounce, and Bitcoin is $21,864.
This isn’t the first time Kiyosaki has tweeted about an approaching market crash. He issued several similar warnings, tweeting that everything would crash, including the prices of gold, silver and bitcoin. This caused some skepticism regarding his prediction.
Kiyosaki recently predicted an imminent collapse in financial markets, but he said it could happen as early as this week. Analysts said the deterioration in market conditions was likely due to US inflation data due on Feb. 14. Kiyosaki urged people not to panic and increase their exposure to strong assets.
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