- Kiyosaki says the Federal Reserve will destroy the American economy by raising interest rates.
- The Federal Reserve is widely anticipated to increase interest rates by 75 basis points.
American businessman and author, Robert Toru Kiyosaki has again come up with support for cryptocurrencies. In a recent tweet, he claimed that the central banking system of the US, the Federal Reserve, will ruin the American economy by raising interest rates. He also suggested the investors put their money into “real money,” mentioning Bitcoin.
Through the tweet, Robert Kiyosaki brought up his most well-known book, “Rich Dad, Poor Dad,” in which he said that “savers are losers,” and he reminded his audience of this once more.
He tweeted:
Today, US debt in 100s of trillions. REAL INFLATION is 16% not 7%. Fed raising interest rates will destroy US economy. Savers will be biggest losers. Invest in REAL MONEY. Gold, silver & Bitcoin.
Kiyosaki’s Support for Crypto
Kiyosaki has regularly issued warnings regarding the market crash. He previously claimed that the largest crash in history is imminent and all markets will collapse in April. Recently, he urged people to invest in cryptocurrencies right away, by specifying, ‘now is the time you need to get into crypto.’
Moreover, the US Federal Reserve is widely anticipated to increase interest rates by 75 basis points (bps) at the upcoming Federal Open Market Committee (FOMC) meeting which is set for September 20 to 21. Even though a huge rate increase of 100 bps, or one percentage point, is also a possibility. The Fed has made it clear that it is focused on taming scorching US inflation, even if it means sacrificing economic growth that destroys demand. As a result, the majority of economists anticipate a sizable rate hike.
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