It’s been a tough year for investors. Stocks have plunged, bonds have tumbled, and even broad benchmark ETFs are deep in the red. But the worst could be yet to come, according to Rich Dad Poor Dad author Robert Kiyosaki. In his latest book, ‘fake’, Kiyosaki warned that the current financial crisis is just the beginning of a much larger economic collapse that will result in the loss of jobs, homes, and retirement savings. While it’s impossible to predict the future, Kiyosaki’s warning should not be ignored. After all, he correctly predicted the dotcom crash of 2000 and the housing market crash of 2008. Given his track record, it’s possible that he could be right about 2022 as well. So if you’re worried about what the next few years might bring, it might be worth taking some steps to protect yourself now.
“God Have Mercy On Us All” Robert Kiyosaki Warns of Biggest Bubble in History
“I believe the economy is the biggest bubble in world history,” he says in a tweet. “God have mercy on us all.”
Since a lot of financial assets have gotten cheaper in this market downturn, it might seem tempting to buy the dip. But that’s not what Kiyosaki is doing.
“Many of you know I do not invest in equities, bonds, ETS or MFs. Please DO NOT listen to what I’m going to say next: ‘I would get out of paper assets’,” he says, adding that the world economy “is not a ‘market.’”
Instead, Kiyosaki likes three real assets for protection. Here’s a look at each one of them.
In times of economic turmoil, investors often turn to precious metals as a safe haven for their money. paper currency, which can be printed out of thin air, gold and silver are limited in supply and their value is largely unaffected by economic events around the world. As a result, these precious metals have traditionally been used as a hedge against inflation and uncertainty. In recent years, however, their popularity has grown among a wider range of investors due to their perceived safety and potential for capital appreciation. While there are risks associated with any investment, precious metals may offer a degree of protection against inflation and market volatility that is unmatched by other asset classes.
“I’m not buying gold because I like gold, I’m buying gold because I don’t trust the Fed,” he said in an interview last year.
Kiyosaki likes silver, too. In fact, he recently tweeted “Silver best investment in Oct 2022” and “Everyone can afford $20 silver.”
While there are many ways to invest in gold and silver, Kiyosaki prefers to buy the metal directly. Earlier this year, he tweeted that he only wants “real gold or silver coins” and not ETFs. Kiyosaki believes that owning the metal directly is the best way to ensure that you will actually receive the benefits of gold and silver ownership if the monetary system collapses.
Bitcoin investors have learned the hard way just how volatile it can be. November, bitcoin reached a high of $68,990. Today, it’s hovering around $16,400.
“BITCOIN? WORRIED? No,” he wrote in a tweet earlier this month. “I am a Bitcoin investor as I am an investor in physical gold, silver, & real estate.” In fact, he sees the crypto mayhem as an opportunity.
“When BITCOIN hits a new bottom, $10 to $12 k? I will get EXCITED, not worried.”
Kiyosaki believes in bitcoin for the same reason he loves precious metals: a distrust in our fiat money system and the government. “I bet against the Fed, Treasury, Biden, & bet on [gold], [silver], & Bitcoin,” he explains.
These days, it’s very easy to tap into bitcoin: you can buy bitcoin directly. Just be aware that many exchanges charge up to 4% in commission fees just to buy and sell crypto. So look for investing apps that charge low or even zero commissions.