Business News Asia
Famous investors see an inevitable financial market collapse in the coming months. What will trigger this crisis is much speculated, an exact statement, of course, no one can make. Be it the inflation that grows inexorably, China’s Evergrande crisis, or the insolvency of the U.S. everything so far only speculation. Robert Kiyosaki, founder of Rich Global LLC and Rich Dad Company has already made a gloomy prediction for this October. He predicts the worst financial crisis ever and everything will be dragged down including Gold, Silver, and Bitcoin.
Presumably, the crisis could start in China and spread around the world. China has recently made headlines by banning cryptocurrencies. Experts in the crypto scene see here that China does not want to have any competition for their digital currencies and also wants to close the hole to prevent the fiat currency from being smuggled out of the country via Bitcoin.
There were also concerns in the U.S. that the government could ban cryptocurrencies. Fed Chairman Powell, however, stressed that there is no effort to ban them but that they must be regulated.
Even though the Fed is not planning to ban cryptocurrencies, there is high concern about a possible FedCoin or Digital U.S. Dollar. A central bank’s digital currency could become the ultimate tool to control citizens as everything is centralized. The government could use the power to dictate to citizens what to buy, when, and how. Of course, payments that do not comply with current policies could also be canceled.
Robert Kiyosaki sees the coming crash as a huge opportunity to make money by making smart investments. When the crash occurs, you should have enough cash set aside to profit from the situation. According to Kiyosaki, this will be the ultimate opportunity to acquire more gold, silver, and bitcoin.