According to American businessman and author Robert Kiyosaki, a recession is coming soon, and the US dollar is about to lose its status. He said this in a series of tweets, pointing out the bleak picture of the US economy.
Kiyosaki mentioned the repo market inversion, which happened back in 2008. He said investors must be careful as recession and crash are coming, and warned that weak businesses and greedy investors will fail.
The comments came after released reports indicated that the 2-year and 10-year Treasury yields were inverted for the first time since 2019. Many market participants saw this as a possible signal for recession, especially since the current geopolitical situation in Ukraine is likely to affect the US dollar eventually.
And since inflation is also a major problem, Kiyosaki said people should think about what will be more valuable in 5 years.
He gave canned tuna and a $25 silver eagle as examples, asking which of the two will be more valuable by 2027. He said if the value of the tuna rose to $25 by then, the silver eagle coin would be worth $250 or more. But he added that if tuna costs only $25 a can, the people will still be poor because 40% of Americans have less than $1,000 in stock.
Kiyosaki recommends buying more gold, silver, Ethereum and Bitcoin.
