Following the massive global market sell-off earlier this month and the de-dollarization of the BRICS nations, one expert says the US could trigger the “biggest stock market crash in world history.” Rich dad, poor dad author Robert Kiyosaki did not hide his feelings about the hard landing that awaited the global economy.
The US stock market crash occurred in the first week of August $2 trillion in funds wiped out. In addition, the Japanese stock market suffered its biggest single-day loss in history. These developments paint a grim picture. Things could get worse if the country falls into recession.
Also read: BRICS: US recession chance rises to 40%, new indicator says
Financial expert warns of possible and unprecedented market crash
In recent years, the BRICS bloc has embraced a move away from the US dollar. Moreover, they have tried to stimulate similar action from the global economy. The ongoing initiatives have been aimed at increasing reliance on the dollar. Given the fragile state of the country, that may now be justified.
Amid BRICS moves, financial expert warns US could trigger “biggest stock market crash in world history” Kiyosaki went to X (formerly Twitter) to discuss his expectations for the economy. He specifically noted that he expected a “crash landing” for the United States.
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He also noted that the crash could be so severe that it would trigger a “coming depression.” He said most Americans put their trust in Kamala Harris, Treasury Secretary Janet Yellin and Federal Reserve Chairman Jerome Powell. Yet he noted that the three are unprepared to protect the country.
All of this contributes to the current plight of the BRICS. The bloc has not been shy about its perspective. This has led to continued trading in local currencies. Any kind of sharp downturn could threaten the global economy, due to the integration of the US dollar on a massive scale.