Robert Kiyosaki warns that the downgrade of the United States' credit rating could trigger an economic collapse, making bitcoin, gold, and silver essential shields against the weakening financial system.
Robert Kiyosaki Advises You to 'Save Gold, Silver, and Bitcoin Today'
Robert Kiyosaki, author of the bestselling book Rich Dad Poor Dad, reflected on Moody's recent downgrade of U.S. debt. His book has remained a global bestseller for over two decades, translated into dozens of languages and sought after by millions around the world for financial education. Kiyosaki shared on the social media platform X on May 19:
Moody's credit downgrade could mean higher interest rates, which means America will face a recession, the economy will slow, unemployment rates will rise, the bond market, housing market, and weak banks could fail... this could lead to the Great Depression of 1929.
The acclaimed author compared the downgrade to a red flag signaling the disintegration of the economy. Comparing it to the crash of 1929, Kiyosaki warns that rising interest rates could lead to a recession, causing widespread financial damage in sectors such as housing, banking, and employment.
Quoting insights from economist and friend Jim Rickards, he notes: “According to Jim Rickards, the next crisis will occur due to the collapse of the $1.6 trillion student loan debt.” Kiyosaki emphasizes that the crisis he predicted over a decade ago has begun: “The crisis I warned about in the book Rich Dad's Prophecy in 2012 has started.”
The famous author has urged people to abandon dependence on fiat money, job security, and traditional retirement plans. Instead, he has doubled down on his long-standing advice to invest in real assets, advising:
I also advise you to save real gold, silver, and now bitcoin.
Rejecting paper assets and exchange-traded funds (ETFs), Kiyosaki offers clear guidance: "You save yourself and your family by saving real gold, silver, and bitcoin... No ETFs." He concludes with a stern yet powerful reminder: "Be careful... save yourself by saving real gold, silver, and bitcoin."
Kiyosaki continuously warns about the fragility of fiat currency and the risks associated with the U.S. dollar. In his view, financial resilience begins with entrepreneurship and hoarding wealth in hard assets, especially during times of economic crisis.