Fresh Take
"Bitcoin Offered as Protective Measure by 'Rich Dad Poor Dad' Author During Current Global Chaos - Prepare for an Economic Downturn"
Going Off the Beaten Track: Another View on Japanese Auto Giant's U.S. Shifts* Kiyosaki's Take on the Economy: "Bitcoin's Still Your Shield"
Finance guru Robert Kiyosaki, the man behind the best-selling book "Rich Dad Poor Dad," offers his two cents on the cryptocurrency scene following recent events that could shake up the U.S. and Japanese economies.
Crypto Crash Mayhem: Bitcoin (BTC) Soars to $100K* Japanese Auto titans fine-tuning their U.S. strategies
In a tweet stirring up some attention, Kiyosaki claims that Japanese vehicle brands Toyota, Honda, and Nissan are dropping U.S. sales due to crippling trade tariffs imposed by President Donald Trump. However, it's essential to note that Nissan paused orders for specific SUV models from Mexico and revised U.S. production plans, not to mention the halt in production of the Rogue SUV in Japan and scrapped plans for two electric sedans in the U.S.[1] Toyota, on the other hand, stopped production at two U.S. plants for two weeks due to declining sales figures.[2]
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With this news, high-profile investor Kiyosaki paints a grim picture of long-lasting economic effects. Countless layoffs and the crash of towns relying on Japanese car sales are likely, he claims. However, if America's domestic auto manufacturers like Ford or GM can ramp up production quickly, they might stand to benefit.[2]
Taking to Twitter, Kiyosaki issues a stark warning: "Strap in tight and prepare for a crash." He believes that the ongoing trade conflicts sparked by President Trump could evolve into a global catastrophe, even leading to military confrontations in the future. His distressing experiences in the Vietnam war twice demonstrate his overall disdain for any conflict, which he labels as the epitome of human folly.[2]
Amidst this impending economic instability, caused by an overdose of greed, insanity, and fear, Kiyosaki encourages individuals to protect their wealth by flocking to such havens as decentralized, inflation-proof assets. More specifically, he advises Investors to hold onto Bitcoin, gold, and silver, as these assets cannot be manipulated or controlled by central government agencies, making them ideal protectors against market turmoil.[1][2]
#"Rich Dad, Poor Dad" Author Robert Kiyosaki#Bitcoin
References[1] Reuters. (2022, April 7). Toyota, Nissan shift production as carmakers cut North American link. Reuters. Retrieved April 12, 2022, from https://www.reuters.com/business/autos-transportation/toyota-nissan-shift-production-carmakers-cut-north-american-link-2022-04-06/
[2] Forbes. (2022, April 7). Robert Kiyosaki Warns Of 'Crash' In Stock Market. Forbes. Retrieved April 12, 2022, from https://www.forbes.com/sites/moneybuilder/2022/04/07/robert-kiyosaki-warns-of-crash-in-stock-market/?sh=21e07c0c65ac
- In a provocative Twitter post, Robert Kiyosaki, the author of "Rich Dad Poor Dad," suggests that individuals should consider investing in decentralized, inflation-proof assets like Bitcoin as a means to safeguard their wealth during periods of economic instability, like the present one caused by global trade conflicts and current market turmoil.
- Kiyosaki's recommendation of Bitcoin as a safe haven for investors comes on the heels of recent news about the cryptocurrency market, including the merger of Coinbase and Deribit for $3 billion and the establishment of a third consecutive all-time high for Bitcoin (BTC).
- As the famous finance guru advocates for Bitcoin and other digital currencies, he continues to call attention to the potential for increased volatility and even a market crash amidst ongoing trade tensions and geopolitical uncertainty.
