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.
Story continues below video.
Watch Newsmax TV on DIRECTV Ch. 349, DISH Ch. 223 and Verizon FiOS Ch. 115
. Get Newsmax TV on your cable system – Click Here Now
The nation's central bank embarked on three rounds of quantitative easing between 2008-2014.
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.
While he would like a woman in office, he said that “Carly Fiorina has downsized more people than she has created jobs.”
As chief executive officer of Hewlett-Packard (HP) from 1999 to 2005, she was the first woman to lead a top 20 company as ranked by Fortune magazine. In the US, a total of 30,000 HP employees were laid off during Fiorina's tenure.
Trump “will bring change. You may not like the change that he will bring, but he will bring change.”
Meanwhile, he said only the financially savvy investor should risk such turbulence and volatility such as that found in today's stock markets.
A good financial education is crucial, and he touted the lessons he learned from his mentor, Richard Buckminster "Bucky" Fuller,
an American architect, systems theorist, author, designer, and inventor.
“If you’re going to be successful, you have to understand the past, the present and the future of the economy,” he said.
“It’s going to be a great time if you're educated. It’s going to be a horrible time if you're holding onto old thoughts and old ideas,” he said.
“The true investors make more when markets crash. So the true investors right now are licking their chops saying, ‘Oh boy, when this market goes down, I’m going to get rich,” he explained.
“Unfortunately, the amateurs will get wiped out.”
© 2023 Newsmax Finance. All rights reserved.