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Reading: Robert Kiyosaki claims “Millions will be wiped away”
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Robert Kiyosaki claims “Millions will be wiped away”

The author and entrepreneur declares that the major crash he foresaw has occurred. However, this may also be the ideal time to "become wealthy."

Nawal Aziz
By Nawal Aziz  - Author Published September 8, 2022
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Robert Kiyosaki speaking during a gala event in honor of Ben Carson presented by Wake Up America at the Westin Kierland Resort & Spa in Scottsdale, Arizona. Credit: flickr

Nowadays, it might be difficult to discover safe-havens.

The Fed’s relentless rate rises have caused stocks to crash, Bitcoin to stagnate, and even the formerly hot market for real estate appears to be cooling off. Robert Kiyosaki, the author of Rich Dad Poor Dad, thinks that now could be the best moment to “become wealthy” despite the temptation to hide out in money. During the Great Recession, Kiyosaki explained in a tweet how he was able to make a fortune by defying the norm.

2008 was an excellent year for wealth accumulation. All items were discounted bought real estate at a discount using millions of borrowed dollars,” he says. The author has advocated for a significant crash. Additionally, the author has advocated for a significant crash. “In 2013, I wrote Rich Dad’s Prophecy, which predicted an even worse fall. THE CRASH HAS ARRIVED. Millions will be eliminated.

2008 was great time to get rich. Everything went on sale. Borrowed millions of dollars buying real estate bargains. 2013 I published Rich Dads Prophecy predicting BIGGER crash coming. THAT CRASH is HERE. Millions will be wiped out. Pls do not be one of them. Time you get richer.

— therealkiyosaki (@theRealKiyosaki) August 28, 2022

Kiyosaki has long promoted buying precious metals as an investment. For millennia, silver and gold have assisted investors in protecting their capital. Unlike fiat money, they cannot be created out of thin air, and global economic events have no bearing on their value. This time, though, Kiyosaki is choosing one over another, and the reason for his preference is the gold-to-silver ratio, which is just the quantity of silver ounces needed to purchase one ounce of gold.

“FYI, the gold-silver ratio is the oldest monitored rate in history: in the twentieth century, the gold-silver ratio was 47:1… 47 ounces silver Equals 1 oz gold “Today, 85:1,” he tweeted last month. In other words, the present gold-to-silver ratio implies that historically speaking, gold (and silver) is both comparatively costly (and affordable). Silver is also preferred by Kiyosaki due to its industrial purpose.

FYI Gold Silver Ratio oldest tracked rate in history: For 20th Century the gold:silver ratio was 47:1…47 oz of silver=1 oz gold. Today 85:1. Why I suggest “buy silver.” For $25 bucks everone can buy a silver coin. Don’t take my word for it. Study. Become rich. Don’t be a fool.

— therealkiyosaki (@theRealKiyosaki) July 29, 2022

Silver is a valuable industrial metal. Unlike gold.

In addition to being a vital part of many cars’ electrical control systems, grey metal is extensively employed in the manufacture of solar panels. Silver is a particularly intriguing financial asset for investors because of the industrial demand and the hedging capabilities. Many silver miners are prepared for an increase in the price of silver. First Majestic Silver (AG), Pan American Silver (PAAS), and Wheaton Precious Metals (WPM) are a few businesses that might serve as excellent places to start your investigation.

However, Kiyosaki advises taking a simpler route and just purchasing the metal immediately away. He claims, “I do not handle paper gold or silver ETFs.” “Anyone may purchase a silver coin for $25.” So perhaps it’s time to stop by the bullion store down the street. Of course, Kiyosaki doesn’t precisely assert that silver is impervious to the current market turbulence. “All markets are about to implode,” he tweeted last week: “Stocks, Real Estate, Gold, Silver, Bitcoin.”

However, the power of one asset is currently well-known_ oil.

Because you will be paying more for petrol as a result of increasing oil prices, it may not be advantageous for your pocketbook.

Kiyosaki’s Tweet

“Middle class wiped away by increasing oil inflation”, Robert said in his recent tweet. Of course, having investments that have access to the energy industry will make your portfolio seem better in 2022 than those that do not. Even if the crude oil price declined in June and July, the year-to-date increase is still 34%. Strong oil prices help oil producers, as you might anticipate. Investors have reaped impressive profits so far this year from companies like ConocoPhillips (50%), Exxon Mobil (51%), and Chevron (35%).

However, commodity investment is a particularly risky activity.

The views and opinions expressed here are those of the authors and do not necessarily reflect the official policy or position of Times of Pakistan or its members. Any content provided by our authors or contributors are of their opinion, and are not intended to malign any religion, ethic group, club, organization, company, individual or anyone or anything.

TAGGED: Kiyosaki, Kiyosaki's prediction, MILLIONS WILL BE WIPED, RICH DAD POOR DAD, TIME TO GET RICHER
By Nawal Aziz Author
The writer is a member of the staff.
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