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Will history repeat?

In a tweet earlier this month, Kiyosaki posed the question, “END OF THE AMERICAN EMPIRE?”

He highlighted Americans' willingness to wager significant amounts of money on the Super Bowl and the country's staggering debt levels.

“This week Americans will bet $68 billion on a game. At the same time America’s debt is the highest in world history, a debt America can never back,” he said.

Kiyosaki did not cite a source for the $68 billion figure. The American Gaming Association said a record 68 million American adults were expected to wager $23.1 billion on Super Bowl LVIII. Anti-fraud company GeoComply says the number of verification checks it conducted over the Super Bowl weekend was up 22% compared to the previous year.

On the debt front, America indeed faces a challenge. The latest data from the Treasury Department shows that the U.S. national debt has now surpassed an astonishing $34 trillion.

The massive debt, along with the betting on the sporting event, prompted Kiyosaki to draw parallels with the fall of an ancient empire.

“The Roman Empire ended in the same way with massive gladiators entertaining chubby Romans while their bankers debased their currency to pay soldiers and bills,” he tweeted.

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Soft landing in a hard crash?

Kiyosaki’s warning is unequivocal: “HISTORY REPEATS because STUPIDITY REPEATS. Don’t be stupid.”

Given his dire predictions, investors may wonder where to seek refuge.

Kiyosaki's suggestions are straightforward (and predictable): “Bet instead on gold, silver, Bitcoin.”

He has long advocated for these three assets due to his lack of confidence in fiat currency.

In another recent tweet, he cautioned that “the world of fake money is crashing” and that “we are not going in for a soft landing.”

Once again, he recommended the three assets as safeguards, stating that gold, silver and Bitcoin “are parachutes for your personal soft landing.”

To be sure, the U.S. economy continues to demonstrate growth. In Q4 of 2023, real GDP in the U.S. grew at an annual rate of 3.3%, according to the Commerce Department’s advance estimate. This growth significantly exceeded economists' expectations of a 2% increase.

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Jing Pan Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.


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