'They will drive us into Depression': Robert Kiyosaki blasted US leadership for doing the same things 'over and over again' — urges Americans to get smarter and richer. Here's how
The strong performance of the U.S. stock market in 2023 has fostered a sense of optimism about the prospects for 2024. But according to Rich Dad Poor Dad author Robert Kiyosaki, the future won’t be all sunshine and rainbows.
In particular, he has strong concerns about the impact of the current U.S. leadership on the nation’s trajectory.
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“DEFINITION of INSANITY is doing the same thing over and over again and expecting things to change,” Kiyosaki said in a recent post on X, formerly known as Twitter.
“Our leaders, the 3 Stooges Biden as President, Yellin as Treasury Secretary and Powell as Fed Chairman are doing us a favor. They will drive us into Depression and War.”
The term “depression” used by Kiyosaki may resonate with a wider audience. A notable example is the "silent depression" trend on TikTok, where users draw comparisons between the current state of America and the era of the Great Depression.
Kiyosaki suggests proactive measures given the grim forecast.
“Buy gold, silver, and Bitcoin. Time to get smarter and get richer,” he said.
Here’s a closer look at this trio of assets.
Gold and silver
Precious metals — particularly gold and silver — have been a popular hedge against inflation. The reason is simple: They can’t be printed out of thin air like fiat money.
Moreover, due to their reputation as safe-haven assets, precious metals may experience heightened demand in times of geopolitical uncertainty or war.
Kiyosaki has long been a fan of gold and first purchased the yellow metal in 1972. He has explained in the past it’s because he doesn’t “trust” the Federal Reserve, which controls the supply of money.
In October, he predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop gold $3,700.”
Kiyosaki likes silver, too. “Silver from $23 to $68 an ounce,” he said, projecting major upside for the gray metal.
The price of gold surged by more than 10% in 2023, while silver remained relatively unchanged.
Today, there are many ways to gain exposure to gold and silver, but Kiyosaki prefers to just buy the metals directly. “I do not touch paper gold or silver ETFs. I only want real gold or silver coins,” he previously wrote.
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Bitcoin
The world’s largest cryptocurrency is making a comeback: it skyrocketed 154% in 2023.
But investors should not forget just how volatile it can be.
In November 2021, the virtual currency reached a high of $68,990. Today, it’s hovering around $45,000.
Kiyosaki, however, doesn’t seem bothered by the massive swings.
When Bitcoin was testing $30,000 in October 2023, he predicted, “Next stop Bitcoin $135,000.”
If Kiyosaki is right in his prediction, it would imply an upside of 200% from where the cryptocurrency sits today.
It’s very easy to buy bitcoin these days. There are many online exchanges, brokers and even ATMs to purchase from. Be warned, they can charge up to 4% in commission fees, so look for ones that charge low or even zero commissions.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
