Best-selling financial author Robert Kiyosaki is issuing a dire warning, saying a collapse in the stock and bond markets is imminent.
The Rich Dad Poor Dad author tells his 2.5 million followers on social media platform driven by dollars coming from the US government.
Kiyosaki specifically mentions the stellar performance of the Magnificent Seven stocks, which include stocks of tech titans like Tesla, Meta, Alphabet, Amazon, Apple, Microsoft and Nvidia.
Citing data from banking giant Goldman Sachs, Yahoo! Finances say the Magnificent Seven collectively rose 71% in 2023, while the rest of the stocks in the S&P 500 gained just 6% in the same time frame.
According to Kiyosaki, the rise of the Magnificent Seven is attracting investors to believe that the US economy is positioned for more growth.
“The stock market is climbing higher and higher. Suckers actually believe the economy is strong. Do not be fooled. The Magnificent Seven, funded by US government dollars, keeps the stock market afloat. Please be careful. Stock and bond markets are about to crash.”
Kiyosaki highlights that he continues to hold Bitcoin (BTC) to protect himself from the actions of the Fed, the Treasury Department and Wall Street.
“Why I Own Bitcoin. Bitcoin is a protection against the theft of our wealth through our money. Fed Chairman Powell, Treasury Secretary Yellin, and Wall Street bankers are stealing our wealth through our money, specifically through inflation, taxes, and stock price manipulation. That’s why I save and invest in Bitcoin, not in stocks, bonds and fake dollars.”
At the time of writing, Bitcoin is worth $42,844. Meanwhile, the S&P 500 just hit a new all-time high of 4,975 points on Friday.
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Generated image: Midjourney