Daily Hodl Staff
Rich Dad Poor Dad author Robert Kiyosaki believes that a big depression could be on the horizon for the US.
According to Kiyosaki, the world’s mounting debts and the geopolitical tension between Russia and Ukraine could jumpstart a major economic downturn.
“EVERYTHING BUBBLE turning into EVERYTHING BUST. Could this be start of biggest depression ever? I am concerned.”
In a new interview with Cambridge House International CEO and president, Jay Martin, Kiyosaki says that inflation is making things worse for the poor and the middle class.
“I think people are kind of waking up that inflation is here and inflation might be here to stay and the problem with inflation is, my personal thing about it, it makes the rich richer but it makes the poor poorer, I mean literally poorer. Then the middle class is hit the hardest and the thing that concerns me…”
He says that to hedge against inflation he is investing heavily in oil.
“I’m an oil guy. I own lots of oil… I don’t know if you know this, but oil provides fertilizer and fertilizer is what keeps the crops growing, so you’re going to see food prices climb and the cost of getting the food to the supermarkets and all this, it’s going to get worse.”
Kiyosaki also reveals that he is bullish on gold, silver and Bitcoin (BTC) as the US dollar loses its purchasing power.
“I’m very bullish on gold. I have control of tons of gold, not just ounces and because to me, gold has been money since God came around, gold and silver are God’s money, Bitcoin is people’s money.”
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