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'The crash is here': stocks, gold, silver, bitcoin, real estate are crashing, 'it's time to get rich' – Robert Kiyosaki

Anna Golubova

Kitco News

(Kitco News) Markets are crashing, and the big price collapse Robert Kiyosaki predicted is here, the best-selling author of 'Rich Dad Poor Dad' tweeted.

"All markets crashing: Real Estate, Stocks, gold, silver Bitcoin," he said this week. "Middle class wiped out by higher oil inflation. Yet Rich are getting richer. Difference in head not wallet. Change WHATS IN YOUR HEAD FIRST…then get richer."

Kiyosaki told his followers to use the opportunity to buy more real estate, gold, silver and Bitcoin at a discount.

"2008 was great time to get rich. Everything went on sale. Borrowed millions of dollars buying real estate bargains. 2013 I published Rich Dads Prophecy, predicting BIGGER crash coming. THAT CRASH is HERE. Millions will be wiped out. Pls do not be one of them. Time you get richer," he said in another tweet.

The latest selloff in the marketplace was triggered by Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium Friday, during which he remained hawkish and signaled that rates could remain higher for longer.

Powell also warned that there would be "some pain to households and businesses," which "are the unfortunate costs of reducing inflation."

In response to Powell's comments, equities plunged on Tuesday for the third day in a row. Meanwhile, Bitcoin dropped below $20,000, and gold fell to trade near $1,730 an ounce.

Kiyosaki is known for his calls to stockpile assets when they are undervalued. In mid-June, Kiyosaki also gave investment advice on how to survive this highly inflationary environment, telling his followers to stock up on cans of tuna.

"Best INVESTMENT: Cans of Tuna Fish. Inflation about to take off. Best investments are cans of tuna & baked beans. You can't eat gold, silver, or Bitcoin. You can eat cans of tuna and baked beans. Food most important. Starvation next problem. Invest in the solution. Take care," he said.

According to Kiyosaki, the best time to get rich is when asset prices crash. When crypto began to crash in May, he described the drop as "great news" and said, "crashes are the best time to get rich."

By Anna Golubova

For Kitco News

Contact agolubova@kitco.com
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