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Robert Kiyosaki, author of the personal finance classic Rich Dad Poor Dad, said the ongoing global stock market collapse is the realization of a warning he issued more than two decades ago in his 2002 book. In a post on the social media platform X, Kiyosaki wrote, “That stock market crash arrived today. We are definitely in a RECESSION and more than likely…a DEPRESSION.”Kiyosaki's remarks came as markets around the world tumbled sharply on Monday, triggered by a renewed escalation in U.S.-China trade tensions. U.S. President Donald Trump signaled no intention to pull back on sweeping tariffs, prompting retaliation from Beijing and deepening fears of a prolonged global slowdown.Indian benchmarks Sensex and Nifty both dropped nearly 5% at the open, while broader Asian markets saw steep losses. The Nasdaq in the U.S. confirmed a bear market last week, and futures markets are now pricing in multiple interest rate cuts from the Federal Reserve this year.Kiyosaki, who has long warned of a massive financial collapse, said in a post dated April 5 that the downturn would hit Baby Boomers the hardest. “Boomers are out of time… They do not have time to ‘invest for the long term’ in stocks, bonds, mutual funds, or ETFs,” he wrote. He called the current market rout the beginning of a broader destruction of what he described as “fake paper assets.”For years, Kiyosaki has advised moving away from traditional investments, advocating instead for assets like gold, silver, and Bitcoin. He reiterated that message this week, arguing that inflation and money printing would destroy the dollar’s value. “Gold, silver, and Bitcoin ARE NOT going up in price… the dollar is going down in value,” he said.On April 6, Kiyosaki likened Trump’s tariff moves to a “chicken challenge,” a childhood reference to head-on showdowns, suggesting the world was now watching to see who would yield in the escalating standoff. By April 7, he posted a more dramatic message, calling current events “PRESIDENT TRUMP and ELON MUSK’S DOGE CHAINSAW MASSACRE,” and warned that the U.S. monetary system may not survive. “Can Trump and Musk save the dying U.S. dollar? I don’t know. Only time will tell,” he wrote.Kiyosaki also recently predicted that silver could double in value by 2025, calling it “the hottest investment today” and claiming it remains accessible even to small investors. “Almost everyone in the world can afford at least one ounce of silver,” he said last week.While his track record on market timing has been inconsistent, Kiyosaki’s warnings have gained renewed attention as global markets slump. For now, he says he’ll keep accumulating gold, silver, and Bitcoin: “I do not trust the creatures lurking in the swamp.”Also read | Robert Kiyosaki predicts silver prices will double in 2025, calls it the hottest investment(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

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