He says that dominos are ‘starting to fall’ amidst the ongoing crisis, which is why he expects investors to flock to the aforementioned assets.
The collapse is about to begin
According to Kiyosaki, the Mall of America, the biggest shopping center in the U.S., is one of these metaphorical dominos.
The Minnesota-based shopping hub has already missed the second payment on its $1.4 bln mortgages. The company blames it on its pandemic-related hardships. It will not be able to reopen its doors until the start of June.
He also recalled the prediction made by the Internationally Monetary Fund (IMF) that the global debt is going to skyrocket to $66 bln by the end of this year.
Back in April, the organization predicted its worst economic downturn since the Great Depression.
As reported by U.Today, Kiyosaki also forecasted that major tax-burdened American cities could go broke.
Coming out on top
Kiyosaki’s personal career wasn’t without rough patches. Back in 2020, he made headlines when his company Rich Global LLC filed for bankruptcy eight years ago. Just to be clear, that’s the company that was supposed to create wealth.
While Kiyosaki’s reputation of a financial guru took a significant hit because of this fiasco, some praised him for adopting a strategic approach to dealing with his failed business. The $80 mln net worth of the Japanese American remained untouched since he didn’t go bankrupt personally.
Recently, the famed author predicted that the price of Bitcoin could go to $75,000 in the next three years. If that’s the case, Kiyosaki will certainly be celebrated for promoting crypto to his followers.
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