Finance Expert Warns of Unprecedented Market Crash Amid BRICS De-Dollarization and US Economic Fragility

August 16, 2024 — In the wake of a massive global market sell-off earlier this month and the ongoing BRICS de-dollarization efforts, one finance expert is sounding the alarm over what could be the "biggest market crash in world history." Robert Kiyosaki, the renowned author of "Rich Dad Poor Dad," has expressed grave concerns about a potential hard landing for the global economy.

The first week of August witnessed a significant downturn in the US stock market, with $2 trillion in funds evaporating almost overnight. Japan's stock market also suffered, recording its largest single-day loss in history. These events have painted a grim picture of the financial landscape, and there are growing fears that the situation could worsen if the United States slips into a recession.

For several years, the BRICS bloc—comprising Brazil, Russia, India, China, and South Africa—has been steadily moving away from the US dollar, advocating for a shift in the global economic order. The bloc's initiatives have aimed to reduce reliance on the dollar, seeking greater economic independence and resilience.

In light of these developments, Kiyosaki has warned that the United States could be on the brink of triggering an unprecedented market crash. Taking to X (formerly known as Twitter), he shared his bleak outlook for the economy, predicting a "crash landing" for the United States. According to Kiyosaki, the situation could be dire enough to precipitate a "coming depression."

Kiyosaki did not mince words when discussing the current US leadership's preparedness for such a crisis. He pointed out that many Americans are placing their trust in Vice President Kamala Harris, Treasury Secretary Janet Yellen, and Federal Reserve Chair Jerome Powell. However, he expressed doubts about their ability to protect the country from an economic catastrophe of this magnitude.

The ongoing BRICS de-dollarization efforts add another layer of complexity to the situation. The bloc has made no secret of its ambitions, driving increased trade in local currencies and reducing dependence on the US dollar. A severe downturn in the US economy could have far-reaching consequences, given the dollar's deep integration into the global financial system.

As the US faces growing economic challenges, the prospect of a market crash looms large. With the global economy still reeling from recent shocks and the BRICS bloc pushing for a shift away from the dollar, the stakes have never been higher. The coming months will be critical in determining whether the US can navigate these turbulent waters or if Kiyosaki's dire predictions will come to pass.

For now, the world watches with bated breath as the US grapples with the possibility of an unprecedented economic collapse, one that could reshape the global financial order for years to come.