Daily Star: 'World is Heading for Worst Economic Meltdown,' Says Famed Author
Article by Charlotte Ikonen on Daily Star
Robert Kiyosaki who wrote the 1997 bestseller Rich Dad Poor Dad – blames the US Federal Reserve’s money printing policies for inflating the bubble.
“All markets boom and bust, it’s just life,” said Kiyosaki. “Unfortunately we had a big crash in 2000, they called it the dotcom crash, then in 2008 it was the subprime real estate crash. The next one is going to be the biggest of all. When it’s coming I don’t really know, but the foreshocks are sounding right now.”
Kiyosaki said if people want to protect themselves they should buy gold. “There’s so much fake money. In 1971 Nixon took the dollar off the gold standard and the US dollar became fake money. The problem is, it also became invisible, so they could print as much as they wanted. That’s why savers got wiped out. So for the average person, just buy some gold or silver coins. When the dollar goes down, gold goes up.”
Apart from that, “you need some kind of education” to make more money, he said.
Kiyosaki said not much had changed in the two decades since he wrote Rich Dad Poor Dad, which advocated for greater financial education. “We still don’t teach financial education in schools. They teach economics, but they don’t really teach much beyond that. The positioning title of Rich Dad Poor Dad was what the rich teach their kids about money – it’s not, ‘Go to school and save money.’”
Kiyosaki is the only person to have co-authored two books with President Donald Trump, and was a supporter for the Republican during the 2016 election.
The pair teamed up in 2006 for Why We Want You to Be Rich: Two Men, One Message after meeting through education company The Learning Annex, and in 2011 released a sequel titled Midas Touch: Why Some Entrepreneurs Get Rich — And Why Most Don’t.
“I share the cover with him — it’s kind of a liability,” he laughs. “You either love him or hate him, that’s about it. There’s no two Donald Trumps, he is what you see, whereas with Obama and many politicians, you don’t know which guy you’re talking to. Trump is just Trump. He’s a good man, but I think he opens his mouth, puts his foot in his mouth then tweets about it. As you know, there’s no news without Trump anymore.”