'Prepare For Crash,' Warns 'Rich Dad, Poor Dad' Author Robert Kiyosaki After Eye-Opening Restaurant Encounter

“Rich Dad, Poor Dad” author Robert Kiyosaki explained in a tweet why he thinks a crash might be inevitable, citing his visit to a restaurant during the weekend and highlighting the low prices and empty tables.

“Sitting in favorite Japanese restaurant. Food great prices low. The place is empty on Sat night. Employees do not have to be economists to know something is wrong. Please be smart. Don't believe Biden, Yellin (sic), Fed. Prepare for [a] crash. Buy gold, silver BC,” Kiyosaki said in his tweet.

Also Read: Best Penny Stocks

Why It Matters: The author's reference to the low food prices and empty tables could likely be interpreted as a prevailing fear about a potential recession. The fear has been accentuated recently despite the pause in rate hikes during the Federal Reserve's June policy as Chair Jerome Powell has indicated rates may be hiked by a further 50 basis points this year.

At the same time, higher-than-expected inflation and a subsequent surprise 50 basis points rate hike by the Bank of England seem to have unnerved investors who have begun weighing in on the possibility of extended rate rises in the U.S.

Price Action: Kiyosaki's advice to buy gold, silver, and Bitcoin BTC/USD comes when Wall Street has begun showing concerns about the possibilities of extended rate hikes. The SPDR S&P 500 ETF Trust SPY closed 0.76% lower while the Invesco QQQ Trust Series 1 QQQ shed 0.99% on Friday, according to Benzinga Pro.

Last week, Kiyosaki explained his take on figuring out whether the economy is in a recession, given the increasing commentary about a downturn. “There is a lot of hot air about ‘Are we in a recession or not.’ The answer is simple. My rich dad said ‘If your neighbor loses his job, the economy is in a recession. You lose [your] job, [the] economy [is] in depression. KISS. Keep It Super Simple,” he had said.

Read Next: Russian Insurrection Crushed: 5 Stocks That Continue To Have Exposure To The Country