Renowned author and investor Robert Kiyosaki, best known for his bestselling book Rich Dad Poor Dad, has warned about an impending global financial crash he believes will begin in November.
In a recent post on X, Kiyosaki wrote,
“MASSIVE CRASH BEGINNING: Millions will be wiped out. Protect yourself. Silver, gold, Bitcoin, Ethereum investors will protect you.”
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According to Kiyosaki, the global financial markets are on the brink of a severe downturn that could have devastating consequences for millions of investors, particularly those who rely on traditional financial instruments such as stocks, bonds, and fiat savings.
He referenced his earlier prediction in his book Rich Dad’s Prophecy, where he forecasted the biggest crash in world history, stating that it would occur this year. Kiyosaki expressed concern that Baby Boomers, many of whom are nearing retirement, would be the hardest hit.
“Baby Boom Retirements are going to be wiped out. Many boomers will be homeless or living in their kids’ basements,” he warned.
Reiterating one of his long-standing financial philosophies, Kiyosaki cautioned against saving in fiat currency, describing it as a “printed asset” that loses value due to inflation. “For years, I have been saying, ‘Savers are losers.’ Inflation turns savers’ cash into trash. Save gold, silver, Bitcoin, and recently Ethereum,” he emphasized.
The author explained that silver and Ethereum currently stand out as strong investment choices, not only as stores of value but also due to their increasing industrial utility and relatively low prices. He urged individuals to carefully study both the pros and cons of these assets before investing, advising them to invest with their financial wisdom.
Kiyosaki has long criticized what he calls “fake government money,” arguing that fiat currencies benefit the wealthy while leaving the poor at a disadvantage. He maintains that “real money” lies in assets like gold, silver, Bitcoin, and Ethereum, which he considers better hedges against inflation and market volatility.
In a swipe at legendary investor Warren Buffett, Kiyosaki claimed that Buffett’s recent endorsement of gold and silver, a shift from his previous dismissive stance, signals an impending stock and bond market crash. “Even though Buffett criticized gold and silver investors like me for years, his sudden endorsement must mean stocks and bonds are about to crash. Depression ahead?” Kiyosaki speculated.
He concluded by encouraging investors to consider diversifying into gold, silver, Bitcoin, and Ethereum as a means of protection from the anticipated market collapse. As of the latest trading data, Bitcoin (BTC) is up 0.24%, trading at $109,838, after ranging between $108,596.10 and $111,031.82 in earlier sessions. Ethereum (ETH) is up 1.14%, while Bitcoin’s trading volume has declined by 30.17% to $45.85 billion.
Despite high expectations for an October rally, Bitcoin recorded a negative monthly return, according to data from crypto analytics firm CryptoRank, adding further intrigue to Kiyosaki’s bold prediction of a financial storm on the horizon.
Outlook
While Kiyosaki’s prediction has stirred widespread debate, analysts remain divided on the likelihood of a market collapse in November. Some experts view his warnings as part of his long-standing advocacy for alternative assets, emphasizing that while global financial markets face headwinds, there is no concrete evidence of an imminent crash of the scale he describes.
However, many agree that his call to diversify portfolios is sound advice, particularly as investors navigate economic uncertainty, rising debt levels, and tightening monetary policies across major economies.