Robert Kiyosaki Predicts More Bank Failures, Loan Depot in Danger
Best-selling author of ‘Rich Dad Poor Dad’ Robert Kiyosaki has issued a warning to investors, predicting that more banks will fail in the near future and pointing to the lending company Loan Depot as the next potential victim. According to Kiyosaki, there is a string of failed regional banks in the US, and people should be cautious with their investments. Kiyosaki is skeptical of Federal Reserve Chair Jerome Powell’s repeated assurances that the banking system is sound and resilient, stating that he would not believe anything Powell, Treasury Secretary Yellin, or President Biden has to say.
Real Estate Crash Coming, Says Kiyosaki
Robert Kiyosaki also gave a warning related to the real estate market. According to him, the greatest real estate crash ever is on the horizon, and 2023 will be worse than the 2008 financial crisis. He cited the 70% loss in the value of office towers in San Francisco between 2019 and 2023 as an example. Kiyosaki advised people to buy gold, silver, and Bitcoin, which he sees as safe havens during times of economic uncertainty.
Kiyosaki’s Warnings Increase in Frequency
This year, Robert Kiyosaki’s warnings to investors have increased in frequency. In February, he predicted a market crash after a wave of layoffs at tech giants. In January, he stated that the world was already in a global recession, with bankruptcies, unemployment, and homelessness soaring, indicating that retirements could be at risk. He also remarked that investors could discover bargains with the prices of gold, silver, and Bitcoin.