Robert Kiyosaki Admits to $1.2 Billion Debt

The 'Rich Dad, Poor Dad' author uses debt to acquire assets, warns of upcoming economic crisis.

Robert Kiyosaki, author of 'Rich Dad, Poor Dad', has revealed he is over $1 billion in debt.
Kiyosaki uses debt to buy assets such as gold and silver, which he believes can withstand market crashes and inflation.
He has warned of an upcoming banking crisis, inflationary pressures, and a stock market crash, and believes those with gold and silver will be the winners.
Kiyosaki differentiates between good debt, which can generate wealth, and bad debt, which is used to buy liabilities.
His advice has inspired reality TV star Nancy Rodriguez to clear off her 'bad debt' and invest in real estate.