Rich Dad Poor Dad author Robert Kiyosaki has issued a stark new warning about the global economy.
This time, he says artificial intelligence (AI) is the trigger.
In a Nov. 23 post on X, the personal finance author cautioned that the rise of AI will have “devastating effects” on employment and, by extension, on markets worldwide.
“In 2013, I published Rich Dad’s Prophecy, predicting the biggest crash in history was coming. Unfortunately that crash has arrived. It’s not just the US. Europe and Asia are crashing. AI will wipe out jobs and when jobs crash, office and residential real estate crashes.”
The warning comes after the Bureau of Labor Statistics announced it would postpone the release of October’s U.S. jobs report.
It also delayed the November jobs report to Dec. 16, six days after the Federal Reserve’s final policy meeting of the year.
On Nov. 25, the U.S. Producer Price Index (PPI) rose 0.3% in September, matching economist forecasts.
The PPI, essentially inflation at the factory level, tracks what businesses pay for goods and services before they reach consumers. When producer costs climb, those increases can eventually filter into consumer prices; when they cool, it often signals easing inflation pressure.
Kiyosaki advises to stock up crypto and gold
Kiyosaki said he believes that tangible assets and cryptocurrencies will be key to weathering the storm.
“Time to buy more gold, silver, Bitcoin and Ethereum.”
He described silver as both the “best” and “safest” asset amid the ongoing economic uncertainty, noting that its current price of around $50 could rise sharply in the coming years.
Kiyosaki predicted that silver may climb to $70 in the near term and potentially reach $200 by 2026.
Despite warning that millions could suffer severe financial losses, he emphasized that those who prepare ahead of the downturn stand to become wealthier as a result.
Kiyosaki advocates for ‘real money’
The author, who has been an outspoken advocate for alternative investments, which he calls “real money” as opposed to what he terms “fake dollars.”
Kiyosaki recently revealed that he sold $2.25 million worth of Bitcoin at roughly $90,000 per coin, a position he had built when BTC was priced around $6,000 years earlier. He explained that he reinvested the proceeds into traditional business assets, including two surgery centers and a billboard company.
Kiyosaki has consistently positioned Bitcoin and other hard assets as a hedge against what he describes as the death of fiat currencies.
Bitcoin has had a difficult couple of months, dropping below the early October peak of $126,000. After dropping as low as $82,175, it is slowly climbing back above the $90,000 mark. At press time, Bitcoin was trading 4.4% higher at $90,761.82.
Gold had dropped 0.33% and was trading for $4,153.73 per ounce. Silver, meanwhile, dropped 0.08% to trade at $53.08.
Source – https://www.thestreet.com/crypto/trading/rich-dad-poor-dad-ai-jobs-bitcoin-gold