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'Rich Dad Poor Dad' Author Expects 'Crash Landing' as US Credit Rating Downgraded

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Wed, 2/08/2023 - 15:38
'Rich Dad Poor Dad' Author Expects 'Crash Landing' as US Credit Rating Downgraded
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Major entrepreneur in the business education sphere and author of the popular book "Rich Dad Poor Dad" Robert Kiyosaki took to Twitter to announce that the credit rating of the U.S. has been downgraded as expected.

Earlier this week, he tweeted that he still preferred Bitcoin, despite the stock market rising; Kiyosaki does not believe that the current stock growth is healthy. That is why he prefers to bet on Bitcoin, gold and silver.

"Brace for crash landing"

Kiyosaki tweeted that Fitch Ratings agency has downgraded the U.S. credit rating from AAA to AA+. "Brace for crash landing," he tweeted, reminding his audience that he had warned about that for more than a year, criticizing the actions of the Federal Reserve, the U.S. Treasury and CEOs of big American corporations.

Kiyosaki's main criticism of the Fed and Treasury is their printing of monetary mass, which has been injected into the economy over the past three years. In 2020 alone, during the pandemic, more than $6 trillion USD were printed out of thin air to provide "survival checks" for average U.S. households and for bailing out banks and U.S. corporations.

This year, the U.S. government again took to printing USD, as several major banks, including Signature Bank, Silvergate and Silicon Valley Bank, collapsed and were bailed out by the government.

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"I still prefer Bitcoin"

On July 31, Kiyosaki shared his concern about the stock market growing thanks to the U.S. government eliminating the "ceiling" for U.S. debt, which added up to $31.4 trillion earlier this year.

Now, per Kiyosaki, the stock market has resumed growing and so has the U.S. debt. This is why the financial guru still prefers to convert cash into Bitcoin, silver and gold. "Cash is trash," he has written many times in his tweets this year.

By the end of next year, Kiyosaki expects Bitcoin to surge to at least the $100,000 level or maybe even $120,000. Initially, his bet was BTC trading at $500,000 by 2025; however, he then reversed his prediction, lowering expectations.

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