‘Shutdown Looming’—Author Warns ‘Get Gold, Silver, Bitcoin And Ethereum’ Before ‘The Biggest Stock Market Crash In History’

The US is heading towards a government shutdown and a possible credit default with the federal government funding set to expire on Thursday and the borrowing authority to expire in mid-October.

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Concerns about the two looming financial catastrophes have sparked warnings of a “giant stock market crash,” with Rich Dad Poor Dad author Robert Kiyosaki Says His 1.7 million Twitter followers “to get gold, silver, bitcoin and ethereum” before “the biggest crash in history.”

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Kiyosaki “Giant Stock Market Crash Next October” He said last week. “Why? The treasury and [the Federal Reserve] short of treasury bills.

Kiyosaki said he has no plans to sell gold, silver or bitcoin, but cautioned that he thinks it “could crash too” — and pointing to To the embattled property developer Evergrande in China as it is likely to exacerbate market volatility.

The prices of Bitcoin, Ethereum and many other major cryptocurrencies have surged multiple times so far this year as investors piled into stock and commodity markets, in part trying to avoid holding cash as inflation continues to rise.

The price of Bitcoin is up almost 300% from this time last year, with the price of Ethereum up 700%. The aggregate cryptocurrency market has grown from just over $300 billion to nearly $2 trillion.

Others also warned that the rapidly approaching debt ceiling could upset markets that have risen to all-time highs this year.

“There hasn’t been much optimism in US markets recently, and the political outlook looks tough as deadlines approach the US government’s $28.4 trillion debt ceiling that is once again threatened to breach unless lawmakers agree to raise the limit,” said Mihir Kapadia, CEO. to Sun Global Investments wealth management firm in email comments.

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Earlier in the week, Kiyosaki warned that the latest crackdown on bitcoin and cryptocurrencies in China, which has led to fluctuations between bitcoin, ethereum and other cryptocurrencies, could be emulated in the United States — potentially leading to a bitcoin “ban.”

“what did you do [China’s crackdown] Means? This means that China is about to launch its own government cryptocurrency. If the US follows, then the Federal Reserve currency means Bitcoin is banned,” Kiyosaki said chirpIt echoes comments made earlier this month by billionaire investor Ray Dalio who said the government would try to kill Bitcoin if it became too successful.

Before the bitcoin eruption in October of last year, the beginning of a bullish wave that saw the price of bitcoin soar to nearly $65,000, Kiyosaki predicted that “the bitcoin world is now starting to ‘warn’ of a phase-out of the real estate sector and gold.”

Published in 1997, Rich Dad, Poor Dad advocates the importance of financial literacy and has become The New York Times Bestseller, with nearly 40 million copies sold worldwide.