Robert Kiyosaki: 'The biggest crash in world history' hits this October

[GON]

Robert Kiyosaki: 'The biggest crash in world history' hits this October:
The whole market, including Bitcoin, gold, stocks, is about to face a serious crash in October, said Robert Kiyosaki, best-selling author of “Rich Dad Poor Dad”.

Speaking to Michelle Makori, editor-in-chief of Kitco News, Kiyosaki explained the factors in the economy that have been leading up to this upcoming crash, and highlighted the severity of the market downturn that’s to come.

“It’s going to be the biggest crash in world history. We have never had this much debt pumped up. Debt is the biggest problem of all…the debt to GDP ratio is out of sync. So when it comes down, and it’s going to bring everything down with it, that’s when I’m going to be buying more gold, silver, and Bitcoin,” Kiyosaki said. “The S&P 500 is really the S&P 7 and it’s being held up by Secretary of the Treasury Yellen and [Fed Chair] Powell. There’s no correlation between the economy and what Yellen and Powell are doing.”

Robert Kiyosaki: 'The biggest crash in world history' hits this October

www.kitco.com

 

[PandaBear]

Robert Kiyosaki has some real iffy credential in the "make money off the books" rather than making money off investment. His RDPD book is a fun read but there's a lot of sugar coating of everything, especially his disregard of risk management. Despite all this, I do share his concern about the overheating of the market, but I think it is not as much about debt instead of the typical boom and bust cycles that have is overdue since 2008.

Every crash is the biggest crash in world history because 1) inflation and 2) protection from past means the bubble gets bigger because people felt that they are protected, and 3) they found new loophole around the protection so everyone goes all in before loophole is closed after the bubble pop.

 

[M56959]

Stopping this here. Unfortunately beyond BITOG purview.