Robert Kiyosaki Says World Economy on the Verge of Collapse — Warns of Bank Runs, Frozen Savings, Bail-Ins

Renowned best-selling author of Rich Dad Poor Dad Robert Kiyosaki says the global economy is on the brink of collapse. He warned investors about the risks of bank runs, frozen savings and bailouts that could come in the future.

Robert Kiyosaki on the collapse of the global economy

Rich Dad Poor Dad author Robert Kiyosaki is back with darker warnings about the global economy. Rich Dad Poor Dad is a 1997 book co-written by Kiyosaki and Sharon Lecter. It was on the New York Times bestseller list for over six years. The book has sold over 32 million copies in over 51 languages ​​in over 109 countries.

Kiyosaki said on Tuesday that the global economy is on the brink of collapse, warning of several risks that could hurt investors. He tweeted:

The world economy is on the verge of collapse. Runs further through the banks? Savings frozen? Next bail?

He then encouraged investors to buy silver. “You can buy a real silver coin for about $25,” he noted, adding that he doesn’t make money when people follow his advice and buy silver coins. A well-known author emphasized:

I just want you to be ready for what’s to come.

During a financial crisis, savers can panic and withdraw all of their money at once, which can lead to bank runs and frozen savings accounts. Also, if a bank is facing an insolvency problem, it may impose collateral when the bank uses depositors’ funds to keep itself afloat. All this can cause financial damage to investors.

Kiyosaki has often said that he does not trust the Biden administration, the Federal Reserve, the Treasury Department and Wall Street. Earlier, he warned that the Fed’s actions could destroy the US economy and the dollar.

The author of Rich Dad Poor Dad also expressed his concern many times over the coming market crashes. He recently warned against investing in stocks, bonds, mutual funds, and exchange-traded funds (ETFs), noting that bitcoin, gold, and silver are the best investments in volatile times. He called gold and silver “God’s money” and bitcoin “the people’s money.”

Kiyosaki predicted that by 2025 the price of bitcoin will be $500,000, gold will rise to $5,000 and silver to $500. This year, he expects gold to hit $3,800 and silver to $75. He said that the holders of gold, silver and BTC get richer when the Fed turns around and prints trillions of dollars. In January, he said we were in a global recession, warning of skyrocketing bankruptcies, unemployment and homelessness.

What do you think of the warnings of Robert Kiyosaki, author of Rich Dad Poor Dad? Let us know in the comments below.