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- Economist and gold advocate Peter Schiff agreed with the assessment.
- Kiyosaki has previously highlighted the impending collapse of the banking industry.
Robert Kiyosaki, author of Rich Dad Poor Dad, has once again raised alarms regarding the state of the American economy and its financial system. Co-written with Sharon Lechter, Rich Dad Poor Dad was published in 1997. For nearly six years, it remained on the New York Times bestseller list.
The book has been translated into 51 languages and published in over 109 countries, with sales exceeding 32 million copies. In a tweet on Thursday, the renowned author warned of imminent bank collapses.
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Kiyosaki wrote:
“More banks about to fail. Rumor is Mortgage giant Loan Depot is on the ropes. Regional banks and mortgage companies are falling. Please be careful. I would not believe anything Pres Biden, Fed Chairman Powell or Sec Treasury Yellin say. Think for yourself.”
Impending Doom
Economist and gold advocate Peter Schiff, along with many others on social media, stated that more banks are on the verge of failing due to evident monetary and fiscal policy errors made over the years, echoing the sentiments of the famous author. Schiff noted that the current financial crisis could trigger a major bank run.
Kiyosaki has previously been vocal about the impending doom of the banking industry. The warnings from the author of Rich Dad Poor Dad extend to the international economy as well. In February, he expressed concern that the global economy was on the brink of a crash, predicting bank runs, frozen deposits, and bail-ins. He has consistently maintained that gold, silver, and bitcoin are the best assets to hold during volatile times.
