American businessman Robert Kiyosaki issued a stark warning on Wednesday — predicting that millions out people would be “wiped out financially” in the coming days. The Rich Dad Poor Dad author insisted that hyperinflation had arrived in the US and cited a US bond auction held earlier this week to underscore his point.
“What if you threw a party and no one showed up? That is what happened yesterday. The Fed held an auction for US Bonds and no one showed up. So the Fed quietly bought $50 billion of its own fake money with fake money. The party is over. Hyperinflation is here. Millions, young and old to be wiped out financially,” he warned.
The claim could not be independently verified — with official data indicating a bid-to-cover ratio of 2.97 during the auction on Tuesday. A document shared by the Treasury Department also indicated that bids worth $212.58 billion had been submitted for the 42-day Treasury bill. $74.38 billion was accepted with only $4.38 billion being awarded to the Federal Reserve’s System Open Market Account.
Kiyosaki however insisted that there was some ‘good news’ — predicting a sharp spike in gold, silver and cryptocurrency prices. He opined that gold prices would soar to $25,000 in the future while Bitcoin reached $500,000 to $1 million. His forecast for silver (to $70) however left some netizens confused and wondering if there had been a typing error.
“The end I have been warning the world about is here. May god have mercy on our souls,” he added.
The remarks come less than a day after the businessman contended that a market crash was the ‘best’ time for people to become rich. Kiyosaki claimed that the recent downgrading of the US government’s credit rating could offer a rare opportunity. He had also stressed the need for investment real estate in order to have a steady cashflow during a crash and recommended “real gold and silver and Bitcoin”.
“The good news is….in a market crash becoming an entrepreneur may become easier, real estate becomes cheaper….as a crash opens up opportunities… not available in a strong economy. FYI: A depression can be the best time to become rich….if you open your eyes and start seeing the through the eyes of an entrepreneur….rather than an employee clinging to job security, steady paycheck and a crashing 401k,” he opined in a lengthy social media post.