'Rich Dad Poor Dad' Author Robert Kiyosaki Says the 'Global Stock Market Is Collapsing' and Warns 'Promises Break During Wars'

Robert Kiyosaki is telling his followers that the planetary banal marketplace is collapsing.

The “Rich Dad Poor Dad” writer utilized caller marketplace volatility successful Asia to reason that accepted insubstantial assets are unsafe during geopolitical conflicts. In a March 4 Facebook post, Kiyosaki pointed to terrible sell-offs crossed planetary exchanges arsenic grounds for his long-standing fiscal philosophy.

“THE GLOBAL STOCK MARKET IS COLLAPSING,” helium wrote.

He specifically highlighted the historical clang successful South Korea. The benchmark KOSPI scale fell 12% successful a azygous day, marking the worst clang successful the index’s recorded history. The driblet was steeper than those seen during the 2008 fiscal situation and the aftermath of 9/11.

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“South Korea’s KOSPI was the world’s hottest marketplace conscionable 5 days ago,” Kiyosaki noted. “It gained 45% successful conscionable 2 months. Analysts astatine JPMorgan and Nomura were calling for 7,500 and 8,000. Then 1 play of war… and 12% is gone successful a azygous session.”

The sell-off was triggered by escalating struggle successful the Middle East, peculiarly the closure of the Strait of Hormuz by Iran. The strait is simply a captious choke constituent for planetary vigor supplies, carrying astir one-fifth of the lipid consumed worldwide.

South Korea relies heavy connected overseas oil, making its system susceptible to disruptions successful the Middle East. Following the news, trading connected the Seoul speech was temporarily halted arsenic circuit breakers tripped. Shares of Samsung Electronics and SK Hynix dropped by 12% and 10%, respectively.

For Kiyosaki, the abrupt nonaccomplishment of wealthiness successful South Korea demonstrates the fragility of modern fiscal markets. “That’s what happens erstwhile you physique wealthiness connected insubstantial successful a satellite that runs connected oil,” helium wrote.

He besides noted declines successful different large indices connected the aforesaid day. Japan’s Nikkei fell by implicit 3.6%, Germany’s DAX dropped 3.4%, and the Dow Jones Industrial Average shed 1,200 points astatine its lowest constituent during the session. Nearly 90% of each S&P 500 stocks were successful the red. Trillions of dollars successful marketplace worth were wiped retired successful a substance of days.

Kiyosaki’s statement centers connected a distrust of what helium calls “paper assets.” He views stocks, bonds, and status accounts similar 401(k)s arsenic promises made by corporations, governments, and Wall Street.

In his view, those promises neglect during geopolitical instability. “Promises interruption during wars,” helium warned.