Is there a financial meltdown? One expert’s take on October’s pandemonium.
A MASSIVE market catastrophe has been prophesied by one financial expert; will gold, silver, and bitcoin all crash in October?
According to one personal financial specialist, October might see the “largest crash in world history.” Why, then, has such a strong warning been issued? Will there be a global economic meltdown this month? A “massive” market catastrophe has already been started, according to self-made billionaire Robert Kiyosaki, a personal financial expert.
He warns that the globe is on the verge of economic disaster, and that this crash would send bitcoin down as well as stock prices, harming millions.
According to Mr. Kiyosaki, who spoke to Kitco News, “This is going to be the biggest crash in the history of the globe. We’ve never had such a high level of debt.
“The main issue is debt… the debt-to-GDP ratio is out of sight.”
His warning comes as US Treasury Secretary Janet Yellen revealed her support for taking control of the debt ceiling away from Congress.
According to Mr. Kiyosaki, this intervention is insufficient, and a stock market meltdown is now unavoidable.
He has mostly blamed the United States, as the world’s largest economy, for the looming global recession.
He believes that the United States was “scrambling” to inject money into its economy at a time when Americans were saving rather than spending due to the outbreak.
This, he continued, has resulted in firms not receiving much-needed customer spending.
They’ve also had to deal with months of closures and income losses as a result of the many lockdowns.
He stated, ” “As a result of them [the US government]pumping all this money in, prices rise.”
He explained that this has resulted in the US economy being in a state of flux “stacked with this tremendous debt, which has only served to boost the stock and real estate markets.”
Mr. Kiyosaki warns that if his projected catastrophe occurs, the ramifications will be enormous.
According to him, the price of gold and silver will plummet, and the price of bitcoin will likewise plummet as the stock market crashes.
Mr. Kiyosaki claims that the US stock market has been artificially inflated by the US government in the wake of the epidemic, and that when the bubble busts, millions of people all over the world would be affected.
He stated, ” “The money hasn’t gone into the economy, which is unfortunate. As a result, the wealthy become wealthier, while the poor and middle class become poorer. What is going on right now is sad.” He issued a warning. “Brinkwire News Summary.”