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As he continues to warn about the upcoming financial collapse that might engulf the United States and the rest of the world, Robert Kiyosaki, a popular investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has highlighted another staggering fact. Specifically, explaining why precious metals gold and silver, as well as the maiden cryptocurrency Bitcoin (BTC), are necessary investments, Kiyosaki stressed that the U.S. kept falling deeper into debt, shackling themselves with another $1 trillion every 100 days, in his X post on August 22. HOW MUCH is a trillion? A trillion seconds was 31,688 years ago. America goes a trillion $ in debt every 100 days. Now do you know why you must buy gold, silver, and Bitcoin? — Robert Kiyosaki (@theRealKiyosaki) August 22, 2024 Adding $1 trillion in debt every 100 days As a reminder, Bank of America (NYSE: BAC) analysts warned in early March this year that the U.S. debt load was about to ramp up to add $1 trillion every 100 days. Upon their warning, the price of Bitcoin surged well above $60,000, bringing its market capitalization back above $1 trillion.  In the words of Michael Hartnett, chief strategist at BofA, “the U.S. national debt is rising by $1 trillion every 100 days,” and he added that it was “little wonder ‘debt debasement’ trades closing in on all-time highs, i.e., gold [at] $2077/oz [and] Bitcoin [at] $67,734,” in a client note. At the same time, Hartnett and Kiyosaki are not alone in their debt warnings. Wharton Business School finance professor Joao Gomes stressed that the growing U.S. debt could lead to a financial crisis as early as 2025, arguing that it could even derail the next administration: “If they come up with plans for large tax cuts or another big fiscal stimulus,…

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Filed under: News - @ August 23, 2024 9:22 am