Legendary investor and writer, author of the book «Rich Dad, Poor Dad» Robert Kiyosaki suggests that the default of China Evergrande Group will hit American stocks and the real estate market in the United States. The investor warns that the consequences will be disastrous for unprepared investors, and in order to survive the downturn, it is preferable to buy gold, silver and bitcoins. Kiyosaki does not believe that Evergrande will be able to repay its loans worth about $305 billion, and the Chinese developer's real estate portfolio seems to him to be overvalued. Therefore, the collapse of the real estate market is inevitable, the investor believes, which will lead to a fall in the stock market, including in the United States. Analysts are already comparing the possible default of Evergrande with the collapse of Lehman Brothers, which triggered the global crisis in 2008. Today, the Chinese media wrote that local authorities in China were advised to prepare for the possible collapse of the developer. This suggests that Beijing does not intend to bail out the debt-laden developer and is preparing for any economic and social consequences. Almost immediately it became known that China Estates Holdings, the second largest shareholder of Evergrande, sold its stake in Evergrande in the amount of $32 million and plans to completely exit the holding. Kiyosaki has been expecting a market collapse for quite some time. Back in June, he wrote on his Twitter account: «The biggest bubble in world history is getting bigger. The greatest collapse in the history of the world is coming.»
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