Robert Kiyosaki, best-selling author of “Rich Dad, Poor Dad,” tells Newsmax TV that the global economy has collapsed and Wall Street has been manipulated by the Federal Reserve and US Treasury.
He said the only way to survive such a treacherous and volatile investing environment is with a solid financial education.
“The global economy is in a collapse right now,” he told “Newsmax Prime.”
“Wall Street is manipulated. The Fed as well as U.S. Treasury keep propping it up,” the founder of the Rich Dad company said.
Since the Federal Reserve can just create dollars out of thin air, it bought up assets like long-term Treasurys and mortgage-backed securities from commercial banks and other institutions. In theory, this was supposed to pump money into the U.S. economy.
After accumulating $4.5 trillion in assets, the Fed stopped its bond-buying program, but the U.S. QE program ended up being one of the most massive economic stimulus program in world history.
Turning to the presidential race, “the most important thing today is who can bring about the most change,” he said. “Right now, we need a businessperson to save the economy.”
Kiyosaki co-authored “Midas Touch: Why Some Entrepreneurs Get Rich – And Why Most Don’t” with Donald Trump and heartily endorsed him.
“Trump is the only one who knows how to make money. All the rest of them only know how to spend money,” he said.
Full article: Author Robert Kiyosaki: We’re in a Global Economic Collapse (NewsMax Finance)