Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, has weighed in on the recent downgrade of U.S. debt by Moody’s. His book has remained a global bestseller for over two decades, translated into dozens of languages and read by millions around the world seeking financial education. Kiyosaki shared on social media platform X on May 19:

A Moody’s downgrade will probably mean higher interest rates which means a U.S. in recession, which means the economy will slow, unemployment will climb, bond market, housing market, and weak banks may fail… which may mean 1929 depression.

The acclaimed author compared the downgrade to a red flag signaling an economic unraveling. Drawing parallels to the 1929 crash, Kiyosaki warned that rising interest rates could spark a recession, triggering widespread financial damage across sectors like housing, banking, and employment.

Referencing insights from economist and friend Jim Rickards, he noted: “According to Jim Rickards, the next crisis will be triggered by the collapse of $1.6 trillion in student loan debt.” Kiyosaki emphasized that the crash he predicted over a decade ago is already underway: “The crash I warned about in Rich Dad’s Prophecy in 2012 has begun.”

The renowned author has urged individuals to abandon reliance on fiat money, job security, and traditional retirement plans. Instead, he doubled down on his long-standing advice to invest in real assets, advising:

I also recommended saving real gold and silver and today bitcoin.

Rejecting paper assets and exchange-traded funds (ETFs), Kiyosaki offered clear guidance: “You bail you and your family out by saving real gold, silver, and bitcoin… No ETFs.” He concluded with a stark but empowering reminder: “Please take care… bail yourself out by saving real gold, silver, and bitcoin.” Kiyosaki has consistently warned about the fragility of fiat currencies and the risks tied to the U.S. dollar. In his view, financial resilience begins with entrepreneurship and storing wealth in hard assets, especially in times of economic crisis.

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