American businessman and expert Robert Kiyosaki sounds the alarm of a potential population wipe out owing to hyper inflation.
With price levels continuing to spike, the Fed is longer using the word 'transitory' to describe the problem.
Informing the Stansberry Research, Kiyosaki said, "When inflation goes up, we’re going to wipe out 50% of the U.S. population."
Kiyosaki is not pleased with the current state of the U.S economy.
"America has stopped producing products, we produce bubbles and we now have bubbles in the real estate market, the stock market, and the bond market."
"The average American doesn’t have 1,000 bucks," he added.
"It also spells trouble for those who want to enjoy their golden years. When the bubbles burst, the stock market will crash. So those relying on their 401(k) plans are toast."
U.S consumer prices jumped 8.6% in May from a year ago, marking the fastest rise since December 1981.
"We don’t have a retirement, our pensions are bust," he concluded.
It is no big surprise that Kiyosaki is a die-hard fan of safe haven assets like gold and silver and purchased the yellow metal in 1962.