Robert Kiyosaki Suggest People Buy BTC Before The Market Crash as FED Continues Rate Hikes.
Robert Kiyosaki, author of Rich Dad Poor Dad, has warned that financial markets will crash as the Federal Reserve keeps raising interest rates, advising investors to purchase bitcoin (BTC) as a hedge.
Robert Kiyosaki On Buying BTC, Gold & Silver
Robert Kiyosaki has urged investors to buy bitcoin before the Fed pivots, stating that a rate hike by the Fed would destroy the US economy.
Early Saturday morning, Kiyosaki tweeted that the Federal Reserve is raising interest rates, which is causing gold and silver prices to plunge.
The Fed’s pivot will kill the economy, he warned. Stocks, bonds, and real estate markets will crash. Gold, silver, and bitcoin should be bought before the pivot takes place.
“Gold & silver prices plunge as Fed continues raising interest rates. Silver is out of stock so I am buying physical gold coins. Raising interest rates will kill economy. Stock, bond, real estate will crash. Fed will pivot. Buy Gold, Silver & Bitcoin before FED pivot. Take care.,” he said on his Twitter account.
Gold & silver prices plunge as Fed continues raising interest rates. Silver is out of stock so I am buying physical gold coins. Raising interest rates will kill economy. Stock, bond, real estate will crash. Fed will pivot. Buy Gold, Silver & Bitcoin before FED pivot. Take care.
— therealkiyosaki (@theRealKiyosaki) October 29, 2022
The FED Pivot
The Federal Reserve has been predicted not to pivot anytime soon by many economists and strategists.
Fund managers and strategists told Reuters’ Global Market Forum Friday that a Fed pivot is not imminent despite over-tightening risks.
There is more chance of the US economy entering a recession if the Federal Reserve raises interest rates too far.
According to Bank of America’s strategists, led by Michael Hartnett, a policy pivot is unlikely in the near future unless inflation and payrolls collapse suddenly. Given persistent inflation, Julia Wang, a JPMorgan strategist, said Thursday that a Fed pivot is unlikely in the near future.
“For us to get to a point where labor market conditions are more fundamentally consistent with the Fed’s inflation target, we think will probably take us to end of next year. So hence, that’s why we expect a pivot really only in Q4 2023,” she spoke to Bloomberg.
A similar warning was given by the renowned author in September when he predicted Fed rate hikes would destroy the US economy.