Long time readers know that I like to support my own investing opinions by citing the thesis of other sharp investors. Robert Kiyosaki, of “Rich Dad, Poor Dad” fame, has recently warned that a “Giant Crash is Coming,” and that now is the time to buy gold, silver, and even bitcoin.
I’ll take a deeper dive into the news, which I read on Kitco, in today’s market update.
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“CRASH is here,” Kiyosaki tweeted on Friday. “Silicon Valley first dominos fall laying off 144,000 in 2022. 66,000 more [in] 2023.” The author and entrepreneur added that Stansberry Research predicts a Valentine’s Day Massacre and warned that “Everything will crash including prices [of] gold, silver, [and] bitcoin.”
He then went on to say that he will use his “fake money,” (US currency) to buy “real money,” which he considers gold, silver and even Bitcoin.
Note: I’m not a huge cryptocurrency investor, but I do have a speculative portfolio that I hold long term as I do believe in digital currency and banking.
The storied investor followed that by telling his followers not to panic, and even said that this is “good news,” before finishing by saying that he feels the Federal Reserver will be printing billions of dollars to prop up markets, which will not only erode the value of the American Dollar, but further expand the debt of the nation.
Are We on the Brink of a Global Recession?
Being more active on Twitter has been one thing I set out to do in 2023, and it’s been rewarding as I’ve been able to see a lot more financial rants that have me absolutely convinced we are entering a recession. Robert Kiyosaki even asked his followers a question on Twitter recently that said:
“What is worse than a great depression?”
ANSWER: “A global recession.”
I, for one, will be following Kiyosaki’s advice today after closely monitoring the markets. If gold and silver go down, I plan on adding to my physical gold holdings. Long term I absolutely love precious metals, and feel that this will be the move that will prop up my retirement balance.
If you look at the above Tweet, Kiyosaki stresses that by 2025, the price of gold could be $5,000, and the price of silver, at $500.
While he is just one voice, he’s a very respected one. Don’t let your retirement savings dwindle away, fill out this form at Goldco today.
Also Read: Are We In a Recession?
Getting a FREE wealth protection guide will show you how you can use your IRA, 401k, or pension plan to invest in gold or silver. It’s the one move that saved a select group of people who had the foresight to do this in 2008. I, for one, will learn from that experience and now allow my portfolio to shrink away again.