If you’ve been paying attention to financial news lately, you might have come across some strong advice from Robert Kiyosaki, the author of Rich Dad Poor Dad. He’s urging Americans to take action and protect their wealth by investing in gold, silver, and Bitcoin. According to Kiyosaki, the signs of panic in the capital markets are already clear, with prices crashing left and right. But what really worries him is the hidden panic within the banking system.
The Invisible Bank Panic
Kiyosaki argues that while everyone can see the turmoil in the markets, the panic happening within banks is much harder to spot. He warns that most people have no idea when their bank might be on the verge of bankruptcy. This is why FDIC insurance exists, to protect up to $250,000 of your savings if your bank goes under.
Rich Dad Lesson on Panics.
1: Panics in capital markets are visible. That means everyone knows when the stock, bond, or real estate markets are crashing.
2: Panics in banks are invisible. That means most people have no idea when their bank is in BANKRUPT.
That is why…
— Robert Kiyosaki (@theRealKiyosaki) August 18, 2024
But Kiyosaki asks a tough question: Why take that risk? Why not move a significant portion of your savings out of what he calls a “corrupt banking system” and into assets like gold, silver, and Bitcoin? According to him, holding onto these assets is a smarter way to preserve your wealth in a failing financial system.
“Take care. Our economy is F’d,” Kiyosaki bluntly states, making it clear how serious he thinks the situation is. He’s especially bullish on Bitcoin, which, at the time of writing, is up over 4% against the U.S. dollar and trading at $60,921.
Distrust in the Federal Reserve
Kiyosaki doesn’t stop with his critique of the banking system. He also directs his frustration at the U.S. central bank, the Federal Reserve. He believes the Fed isn’t being honest about the real state of the U.S. economy. To Kiyosaki, it’s obvious that the economy is in a slump, and all you have to do is look around.
WHY do people look to the Fed for guidance? The Fed is the problem.
People as “Are we in recession?” All a person needs to do is go shopping and look at stores having 60% off sales.
Even a used clothing store near me is having a sale.
The Fed is made up of PhDs like my…
— Robert Kiyosaki (@theRealKiyosaki) August 16, 2024
“WHY do people look to the Fed for guidance? The Fed is the problem,” he says. According to Kiyosaki, you can tell things are bad when every store is having 60% off sales, even the thrift shops. He doesn’t mince words when he describes the people running the Fed either, calling them “highly educated poor people” and quoting his “rich dad” who often said, “PhD stands for Poor Helpless and Desperate.”
Kiyosaki’s advice is straightforward: don’t rely on the Fed to save you. Instead, take matters into your own hands by buying more gold, silver, and Bitcoin. He believes these assets offer real value in a time when the traditional financial system seems increasingly unreliable.
What’s Your Take?
So, what do you think? Is Kiyosaki onto something, or is he overstating the situation? His views have a history to be provocative, but given the current market conditions, they’re worth considering. As always, it’s important to do your own research and decide what’s best for your financial future.
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