Robert Kiyosaki, a renowned investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ has responded to the projections of gold crashing, arguing that precious metals, as well as the flagship cryptocurrency Bitcoin (BTC), are still better than fiat currencies.
Indeed, the financial and investment advisor Steven Van Metre made a prediction that gold would drop to $1,000 per ounce because the markets have grown tired of waiting for the precious metal to go higher, as he explained in his YouTube video analysis streamed on April 24.
Commenting on Metre’s projections, Kiyosaki, who has touted gold, silver, and Bitcoin as having more value than paper money for a long time, suggested such a scenario would not bother him in the slightest. In fact, he said he would buy more gold in that case, as “to me, cash is trash.”
Gold versus cash
Notably, Kiyosaki has often referred to fiat currencies as ‘fake money’ and ‘toilet paper,’ particularly when talking about the United States Dollar, which he believes will go down and bring the American empire down with it, as well as that the entire monetary system “just creates money out of nothing.”
According to him, as the US loses its position as the main ‘playground bully’ on the global financial scene and the other countries gang up against it, as demonstrated in the recent deals between France and China, the USD is no longer going to be the world reserve currency, and it will flood the American shores en masse.
As the alternatives to this ‘fake money,’ the author has long suggested purchasing Bitcoin, silver, and gold, warning that the inflation in the US was currently systemic as he criticized the country’s authorities for failing to accurately represent the situation, as Finbold reported earlier.
Meanwhile, gold was at press time trading at the price of $1,985 per ounce, dropping nearly 3% from its monthly high of $2,045 per ounce, which it reached on April 14, according to the latest information retrieved by Finbold from BullionVault on April 24.
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