‘Rich Dad Poor Dad’ author Robert Kiyosaki says ‘the global stock market is collapsing’ and warns that ‘promises are broken during wars’

‘Rich Dad Poor Dad’ author Robert Kiyosaki says ‘the global stock market is collapsing’ and warns that ‘promises are broken during wars’
‘Rich Dad Poor Dad’ author Robert Kiyosaki says ‘the global stock market is collapsing’ and warns that ‘promises are broken during wars’

Robert Kiyosaki tells his followers that the world stock market is collapsing.

The author of “Rich Dad Poor Dad” used recent market volatility in Asia to argue that traditional paper assets are not safe during geopolitical conflicts. In a Facebook post on March 4, Kiyosaki pointed to severe sell-offs on international stock markets as evidence of his long-standing financial philosophy.

“THE WORLD STOCK MARKET IS COLLAPSING,” he wrote.

He specifically highlighted the historic crisis in South Korea. The benchmark KOSPI index fell 12% in a single day, marking the worst drop in the index’s recorded history. The decline was steeper than those seen during the 2008 financial crisis and the aftermath of 9/11.

Don’t miss:

“South Korea’s KOSPI was the most popular market in the world just five days ago,” Kiyosaki noted. “It gained 45% in just two months. JPMorgan and Nomura analysts were asking for 7,500 and 8,000. Then, a weekend of war… and 12% disappeared in a single session.”

The liquidation was prompted by the escalating conflict in the Middle East, particularly Iran’s closure of the Strait of Hormuz. The strait is a critical point for the world’s energy supply, transporting about a fifth of the oil consumed worldwide.

South Korea relies heavily on foreign oil, making its economy vulnerable to disruptions in the Middle East. Following the news, trading on the Seoul Stock Exchange was temporarily halted as circuit breakers were activated. Shares of Samsung Electronics and SK Hynix fell 12% and 10%, respectively.

For Kiyosaki, the sudden loss of wealth in South Korea demonstrates the fragility of modern financial markets. “That’s what happens when you create paper wealth in a world that runs on oil,” he wrote.

He also noted declines in other major indices on the same day. Japan’s Nikkei fell more than 3.6%, Germany’s DAX fell 3.4% and the Dow Jones Industrial Average lost 1,200 points at its lowest point during the session. Nearly 90% of all S&P 500 stocks were in the red. Trillions of dollars in market value disappeared in a matter of days.

Kiyosaki’s argument centers on distrust of what he calls “paper assets.” Consider stocks, bonds, and retirement accounts like 401(k)s to be promises made by corporations, governments, and Wall Street.

In his opinion, these promises fail during geopolitical instability. “Promises are broken during wars,” he warned.

Source link