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Fed Is Responsible for Market Pullback, Not Bitcoin or Musk, Says Robert Kiyosaki

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by Kofi Ansah · 3 min read
Fed Is Responsible for Market Pullback, Not Bitcoin or Musk, Says Robert Kiyosaki
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Whiles Mr. Kiyosaki’s opinions have been met with diverse reactions, the United States Labor Department has announced that the Inflation rate in the country has shot up the fastest rate since 2008

Robert Kiyosaki, the author of the popular book ‘Rich Dad, Poor Dad’, has attributed the current state of the financial space in the United States to actions of the US Fed, treasury, and President Joe Biden. Kiyosaki has revealed that he intends to buy crypto amid the current Bitcoin dip, adding that neither Elon Musk nor Bitcoin is responsible for the current ongoing problems in the US financial system.

In a series of tweets on Twitter, Kiyosaki expressed his views on the current state of the US financial system and advised his 1.5 million followers to buy more Gold, Silver, and Bitcoin. In one of his tweets, the popular author stated that “After 2008 Subprime Crash Fed and Treasury printed $700 billion. 2021 Fed and Treasury to print $7 trillion. The Biggest crash in history is coming. Worst investment FANG stocks. Anyone not buying gold, silver, or Bitcoin is an idiot.”

Kiyosaki in an engagement under another tweet of his sent out a warning of an imminent economic crash happening in the United States soon. “ARE YOU READY? Boom, Bust, Mania, Crash, Depression. Mania In markets today. Prepare for the biggest crash, depression in world history. What will Fed do? Print more money? Save more gold, silver Bitcoin,” he tweeted.

The author highlighted the rate at which the US Fed was printing money, stating that the United States dollar is gradually being destroyed through the process. Kiyosaki pointed out the spike in money printed by the US Fed since the 2008 financial crisis and labeled the stimulus packages for US citizens ‘insanity.’

Whiles Mr. Kiyosaki’s opinions have been met with diverse reactions, the United States Labor Department has announced that the Inflation rate in the country has shot up the fastest rate since 2008. According to the labor department, the Consumer Price Index, a tool used to measure a basket of goods as well as energy and housing costs, rose 4.2% from a year earlier as against the 3.6% increase that was expected from a Dow Jones survey. The month-to-month rise was also 0.8%, against the expected 0.2%.

The Inflation in April has been revealed to be at the fastest pace in over 12 years US consumer prices have shot up amid a booming demand with regards to a reopening economy. US economists have also warned of a high possibility of a lengthy period of higher inflation due to supply constraints caused by the pandemic. The core Consumer Price Index (CPI), excluding volatile food and energy prices, has increased 3% from the same period in 2020 and 0.9% every month. The expectations were 2.3% and 0.3%, respectively.

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Kofi Ansah
Author Kofi Ansah

Crypto fanatic, writer and researcher. Thinks that Blockchain is second to a digital camera on the list of greatest inventions.

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