Posted on 06/14/2022 8:44:54 AM PDT by blam
* Robert Kiyosaki touted canned tuna as a better investment than gold, silver, or bitcoin.
* The "Rich Dad Poor Dad" author warned soaring food prices could lead to starvation.
* Kiyosaki noted cans of tuna and baked beans can be eaten, unlike metals and cryptocurrencies.
Hoarding cans of tuna is a better strategy to ride out inflation than buying gold, silver, or bitcoin, Robert Kiyosaki declared in a bizarre tweet on Sunday night.
"Best INVESTMENT: Cans of Tuna Fish," he said. "Inflation about to take off. Best investments are cans of tuna & baked beans. You can't eat gold, silver, or bitcoin."
"Food most important," he continued. "Starvation next problem. Invest in the solution."
The "Rich Dad Poor Dad" author likely sees canned tuna as a good investment because it has a shelf life of several years, it's cheap and takes up minimal cupboard space so it can be bought in bulk, and investors can crack their tins open if inflation drives food prices to unaffordable levels.
However, cans of tuna spoil eventually, would be hard to physically store and sell if bought in vast quantities, and people might get tired of the fish's distinctive taste.
Value investors such as Warren Buffett would prefer to own shares of a business such as Coca-Cola, as they believe there will always be demand for their products, and they can leverage a strong brand to raise prices and offset inflation.
US inflation surged by 8.6% year-on-year in May, marking the fastest rate in 41 years. Kiyosaki has previously touted household goods as shrewd investments when prices are soaring, as consumers can buy them now and stockpile them, instead of paying far more for them in the future.
"BEST INVESTMENT may be stocking products you will always use such as toilet paper
(snip)
(Excerpt) Read more at markets.businessinsider.com ...
I retired 2 years ago. Perfect timing to have my earning power permanently plunge.
Hey, it is all part of the plan!
Even better yet, I sold my before Covid for a move to Tennessee, got caught up in the Covid shutdowns, and by the time I got to Tennessee and decided to stay, homes were up 30-40%. Screwed again. Good thing I am getting used to being screwed over.
I had a stock of canned tuna go bad on me after about 6 years. To be fair, they were stored in my Sacramento home garage where temps got up to 108 degrees in August. I won’t do that again.
The next time, I would keep them inside the climate controlled house.
June 9th, 2022
Business groups demand Biden administration intervene to prevent any work stoppage on West Coast ports
With the contract between over 22,000 West Coast dockworkers and the Pacific Maritime Association (PMA) set to expire in three weeks, the Biden government, in coordination with the PMA and International Longshore and Warehouse Union (ILWU), is conspiring to prevent a strike and to force through a sell-out contract.
Terrified at the prospect of a dockworkers strike shutting down large sections of US supply chains, a group of large business associations led by the US Chamber of Commerce wrote a letter on June 8 to President Joe Biden and Vice President Kamala Harris, demanding the White House “engage in the negotiations” in order to ensure “backups, delays, and inflationary costs are avoided.”
The letter warns that, “...even a relatively brief port slowdown or shutdown would compound current supply chain challenges and cause long-lasting damage to consumer confidence and American businesses.”
Signatories of the letter included the Retail Industry Leaders Association, which represents brands such as Target, Lowe’s, Best Buy and Walgreens, the American Apparel Footwear Association and the Travel Goods Association.
https://www.wsws.org/en/articles/2022/06/10/dock-j10.html
Too late, Bobby, I beat you by two years!
Your A/C is liable to go down before food becomes scarce.
Buy non-perishables!
Regards,
“Not for many, many years. Taste may go off a bit, but unless you got a broken seal or botulism, canned food stays edible for decades.”
Not true. 3-5 years is safe. Maybe a little longer for frozen. Eating decades old canned meats is very risky. Definitely not a good game plan when there are options to use ahead of time.
Carbs and proteins are the forms of calories that store well long-term (decades ranges). Need to remove oxygen and control temperatures. You can also get calories from alcohol which is like carbs. Alcohol stores very well.
Fats and oils go rancid over time no matter how you store them. Partially hydrogenated oils (like Crisco) aren’t good for you but do have a long shelf life, so that’s a reasonable compromise when facing life-threatening famine.
Dagnabbit. Everytime I see one of these threads I end up going on a food shopping jag.
jk - thanks for posting.
Nope. My experience is that they go bad first and a lot sooner.
Having read all books, having implemented and become financially independent as overseen by my CPA… K never advocated any of the three things that author lists as illegal.
Sounds like sour grapes…
This is real. It's also a way for Biden and his thugs/goons to declare a National emergency - then 'govern' by Presidential whim.
Hi.
On this side of the peninsula we don’t get many tuna.
On the Atlantic side there are plenty of tuna.
So there’s an ol’ saying on the Gulf side.
You can tune a guitar, but you can’t tuna fish.
5.56mm
The fundamentals of Rich Dad, Poor Dad:
Poor Dad buys lots of toys.
Rich Dad makes sound investments and creates a real estate empire.
Whiskey keeps forever, and there will ALWAYS be demand.
Once one has put away “enough” food, buy and store whiskey. No special storage required once bottled, excepting security.
I got lucky and bought my secure TN retreat several years before COVID, and moved here a couple of months ago. I got a 100-year-old, 3-story, 7-bedroom house for a song. I'm preparing it as a secure retreat for my sons, should things heat up where they live.
I great up in rural W. TN, so I'm adapting quickly.
I do rotate...but every now and then I find a stray. I’ve started marking the best by dates on the label with a permanent sharpie for better visibility. Also doing periodic inventory to make sure I’m not forgetting something and everything in the pantry is tidy with new stuff in back.
As I said, unless there is botulism in the can, or the can’s seal is broken, it is quite safe to eat even years after the “use best by date”. That is not an “expiration date” like they put on the milk carton, it is just the date at which the company has determined the flavor of the canned food will begin to noticeably decline. Meats will still be edible for years, even decades after that date, as many experiments have shown.
As for fat going rancid, yes, it happens, which is one of the main reasons the flavor goes “off”. But though rancid fat tastes bad, it is not dangerous to eat, though it can give you a stomach ache or some issue like that.
He is correct
Food banks take canned goods a year post expiration.
After retirement, my wife used an inheritance from her brother to help us buy a vacation home in Idaho. That was 4-1/2 years ago, at the tail end of the 2008-2010 real estate melt-down. We debated taking that plunge for over five years and finally decided if we didn’t grab the home we had our eyes on, we would forever regret it.
Home prices in North Idaho were very slow to recover after that melt-down and homes would come onto the market for a while then go off the market when activity was non-existent. We weren’t able to buy at the low after the melt-down, but we still got in at a great time before all the recent insanity. We are SO glad we were able to get in when we did.
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