Make Kitco Your Homepage

Robert Kiyosaki warns of 'giant' October market crash as he holds gold, silver, bitcoin

Kitco News

(Kitco News) A massive market crash is coming in October, that's according to Robert Kiyosaki, the best-selling author of 'Rich Dad Poor Dad'.

Kiyosaki's warning of a potential U.S. stock market meltdown comes with some investment advice — hold on to your gold, silver and bitcoin positions and use cash to bargain hunt.

"Giant stock market crash coming October. Why? Treasury and Fed short of T-bills. Gold, silver, Bitcoin may crash too," Kiyosaki tweeted Sunday. "Cash best for picking up bargains after crash. Not selling gold silver Bitcoin, yet have lots of cash for life after stock market crash. Stocks dangerous. Careful."

Kiyosaki also talked about the looming U.S. debt crisis and the dangers of a government shutdown if the debt ceiling is not raised this week.

"US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande Chinas biggest property developer with 800 projects in 200 cities out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history. Take care," he said in another tweet.

"Biden destroying America. Opened Southern border, Covid pouring in. Deserted Americans, weapons in Afghanistan. Shutting down America's oil industry to keep Greenies happy. Liberals crushing working people who cannot inflation. Toxic incompetent fascist leadership. Sad," Kiyosaki added.

It's the "house of cards coming down," the best-selling author described, stating that the real estate market will crash along with the stock market. He also sees China's Evergrande disaster spilling over to the U.S.

"Will real estate crash spread to US? Yes. Great stock and real estate opportunities coming for smart investors. Disaster for foolish investors," he said. "Hope I am wrong but I think revolution has begun. Gap between rich and poor too wide. Biden, liberals, Generals incompetent. Fed printing trillions in fake money. Gold, silver, Bitcoin, bullets best assets in a revolution. Be aware. Take care."

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.