• Economist and gold advocate Peter Schiff agreed to the same.
• Kiyosaki has been vocal about the impending doom of the banking industry before.

Robert Kiyosaki, the author of Rich Dad Poor Dad, has once again sounded the alarm about the state of the American economy and the financial system. The book Rich Dad Poor Dad was written by Kiyosaki and Sharon Lechter in 1997. For almost six years, it has been included on the New York Times list of best-selling books.

The book has been translated into 51 languages and published in more than 109 countries, with sales of more than 32 million copies. Thursday’s tweet from the famous novelist warned of imminent bank collapses.

The author wrote:

“More banks about to fail. Rumor is Mortgage giant Loan Depot is on the ropes. Regional banks and mortgage companies are falling. Please be careful. I would not believe anything Pres Biden, Fed Chairman Powell or Sec Treasury Yellin say. Think for yourself.”

Impending Doom

Economist and gold advocate Peter Schiff, among many others on social media, stated that more banks are on the verge of failing because of evident monetary and fiscal policy blunders made over the years, echoing the sentiments of the renowned novelist. The present financial crisis, Schiff said, might cause a big bank run.

Kiyosaki has been vocal about the impending doom of the banking industry before. The cautions made by Rich Dad, Poor Dad’s author apply to the international economy as well. Moreover, in February, he expressed concern that the global economy was about to crash, predicting that there would be bank runs, frozen deposits, and bail-ins. He has always said that gold, silver, and bitcoin are the greatest assets to have on hand in volatile times.