Posted on 03/22/2021 9:12:43 AM PDT by aMorePerfectUnion
Rich Dad Poor Dad author Robert Kiyosaki says he is racing to buy Bitcoin, Ethereum, and precious metals as the economy weakens.
In a new Rich Dad Radio Show podcast episode, the best-selling author and entrepreneur says that while he does not wish to argue over which store of value asset is superior, he is currently scrambling to own as much BTC, ETH and gold as he can.
“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’ Just get as much as you can right now because the government is screwed.
We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”
Last year, Kiyosaki predicted Bitcoin would break the $50,000 level in 2021. He said that this bet wasn’t necessarily based on the strength of Bitcoin, but in the weakness of the US economy and government.
“I’m not judging Bitcoin. I’m judging the stupidity of our government. Being a real estate guy when I look at how much debt is going to default, the question is, when all those office buildings around San Francisco can’t pay their rent, who’s going to bail them out? That’s why I put my $50,000 bet. It was a bet against the economy. It wasn’t a bet on Bitcoin. And I’m betting [the Federal Reserve] is going to print [more money] and if they don’t print we’re screwed anyway.
The question is where do you put your money? I started off years ago saying, ‘Cash is trash,’ and it is becoming trash. The more artificial intelligence and technology make things more efficient prices should keep coming down but the Fed keeps pumping it up… Lesson number one in Rich Dad Poor Dad is the rich don’t work for money, because the moment you do that you’re screwed. It’s coming true right now and it really deeply concerns me.”
I’ve been watching GBTF. Haven’t wet my feet yet but thinking about it.
LOL - wise man...
You may have a zero balance if someone along the chain clicks the wrong button intentionally or unintentionally.
The difference is that when the power comes back on, your bitcoin will still be there. Your bank account, maybe not.
It doesn’t work that way…
There are very few scenarios where krugerand cannot be melted into something else, or even cut into small pieces.
of course they also make really small ones. I have 1/10 oz one that I bought at a thrift shop.
as for silver ones, no thanks people only pay over spot for Eagles and possibly maple leaves. If I were in Europe I would probably get Philharmonics
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Do you hold it in your hand?
“ Do you hold it in your hand?”
Is this a double entendre??
Mining rigs!
🤪
Exactly. I have read one of his books. He advises you to get rich by going in to huge debt. By that logic America is rich beyond imagination.
i don’t see any of this ‘stuff’ as investments but as a place to hide value. The only thing I have ever had pay off as far as “investing” has been software, education, aluminum, and machinery. It’s how I make my living. Sure I wish I got bitcoins when they were a dollar each. I wish I didn’t lose everything I had when the economy crashed. The only way I can lose the skills I have acquired over the years is when I’m dead. Everything else can be stolen or confiscated by the government.
All rich people use borrowed funds to the maximum extent possible. Their own liquid assets are kept carefully away from risk.
Kiyosaki also came up the counterintuitive but blindingly obvious observation: "Why are you saving money when they are printing it?"
The old conservative advice to "save your way to prosperity" just isn't possible under a government as stupid as ours.
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