Amid countless gloomy warnings of a financial collapse awaiting the United States and possibly the world, popular investor and author of the best-selling personal finance book ‘Rich Dad Poor Dad’ Robert Kiyosaki has reiterated his distrust of the US government and the Federal Reserve.
Indeed, Kiyosaki told his followers “to pay less attention to what the Fed is saying and what the Fed is doing” when making financial choices, as he believes that it to be a “criminal organization” that is not looking out for the common people, as he explained in an X post on February 15.
Specifically, according to the finance educator, the Fed is full of criminals out to destroy the economy and the poor and middle class while, on the other hand, focusing on saving large banks, as he referred to last year’s interventions to preserve the banking system following several major bank failures:
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“Sick and tired of hearing ‘experts’ ask ‘What is the Fed doing?’ The Fed is the problem. The Fed is a criminal organization. The Fed has destroyed the economy, made the poor and middle class poorer, and bailed out their rich banking friends.”
‘Trust gold, silver, and Bitcoin’
Furthermore, in a subsequent post, Kiyosaki said that he would rather place his trust in gold, silver, and Bitcoin (BTC), which he has long recommended as the go-to assets to protect oneself against inflation and “cartoons killing the economy” as he earlier referred to the Fed and the US government.
Interestingly, the ‘Rich Dad’ author earlier said that gold was going to crash below $1,200, as he stressed that banks were buying the precious metal instead of the US debt and asked a hypothetical question of how the world and the US would run without money.
At the same time, he believes that silver and Bitcoin would “take off,” although he admitted he knew nothing about the flagship decentralized finance (DeFi) asset and that he invested early in it because he knew “some very smart people are in it,” as Finbold reported in late January.
Meanwhile, the maiden cryptocurrency is slightly consolidating at $51,850 after a strong bullish rally, silver has reached the price of $23.02 per ounce amid a slow but steady increase, while gold is changing hands at $2,016.5, as per the latest data on February 16.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
