As he continues to warn of an inevitable financial crash to sweep the United States and possibly the world, the famous investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki has highlighted that the problem of banks buying gold instead of the US debt.
Specifically, he asked how the world and US were to run without money, reiterating a question by Miles Franklin Precious Metals CEO Andy Schectman on “who is going to buy US bonds,” considering that banks were buying gold, not US debt, as Kiyosaki explained in an X post on February 14.
Furthermore, the renowned finance educator and best-selling author shared his predictions of the price of gold crashing to “possibly below $1,200, whereas he believes that silver and Bitcoin (BTC) “will take off,” advising his followers once again to “take care” and “be careful.”
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Interestingly, Kiyosaki has long suggested investing in ‘real assets’ like gold, silver, and Bitcoin as some of the best ways to protect one’s wealth when the US dollar unavoidably collapses and brings down the ‘American Empire,’ which he recently compared to the historic downfall of the Roman Empire.
Gold vs. Bitcoin
In the meantime, he also highlighted some of the advantages of the decentralized finance (DeFi) asset over gold, explaining that Bitcoin “doesn’t cost anything to ship,” compared to the precious metals that require hiring “special vans and security guards,” as Finbold reported on February 7.
Presently, the spot price of gold stands at $1,997.1 per ounce, up 0.16% on the day, at the same time as the maiden cryptocurrency is changing hands at the price of $52,214 and recording an increase of 1.51% in the last 24 hours, according to the latest information retrieved on February 15.
Featured image via The Rich Dad Channel YouTube
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