'Biggest crash in world history': Robert Kiyosaki issues another dire warning an...
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Robert Kiyosaki issues another dire warning and now avoids ‘anything that can be printed’ — here are 3 hard assets he likes instead
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The markets sure look ugly these days.
The S&P 500 is down 23% year to date. For the tech-laden Nasdaq Composite, the loss in 2022 has widened to an even more painful 31%.
"Rich Dad Poor Dad" author Robert Kiyosaki, who previously sounded the alarm, stresses just how badly this downturn could turn out to be.
“This is going to be the biggest crash in world history, we’ve never had this much debt pumped up,” he says in a Kitco News interview earlier this month.
Given that Kiyosaki has previously tweeted that “Crashes are the best times to get rich,” one might think it’s time to look for bargains in the beaten-down stock market.
But that’s not what Kiyosaki is doing right now.
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“Anything that can be printed, like a stock certificate, a bond, or a dollar, I don't want it,” he says.
Here’s a look at what Kiyosaki prefers instead.
Precious metals
Precious metals — particularly gold and silver — have been a popular hedge against inflation and uncertainties. They can’t be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.
When the host asked Kiyosaki if he was adding anything to his portfolio, his response was simple: “I’m buying more gold and silver.”
To be sure, precious metals aren’t immune to the sell-off that’s been going on this year. The price of gold is actually down about 9% in 2022, while silver has fallen by nearly 20%.
Kiyosaki sees a glorious revival on the horizon.
“Silver to stay at $20 for 3-5 years, then climb to $100 to $500,” he says in a recent Tweet, adding that “everyone can afford silver” and “accumulate silver now.”
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