On Tuesday (May 19), Robert Kiyosaki, the highly successful and world-renowned author of the "Rich Dad Poor Dad' series of personal finance books, made yet another passionate plea for people to protect their savings -- from the unlimited money printing that central banks seem prepared do -- by investing in silver, gold, and Bitcoin.
"Rich Dad Poor Dad", which is one of the top 10 personal finance books of all time, is a book that "advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one's financial intelligence (financial IQ) to improve one's business and financial aptitude."
Yesterday, Kiyosaki, who has been criticizing for the past several weeks the Federal Reserve's response to the economic damage caused by the COVID-19 pandemic, sent out a tweet that seemingly strongly urged his 1.3 million followers to protect themselves from what he feels is inevitable high inflation (and possibly hyperinflation) in the future by using their dollars to buy silver, gold, and Bitcoin:
NEW YORK CITY GOING BROKE. All cities count on INCOME TAX, SALES TAX & REAL ESTATE TAXES, especially COMMERCIAL RE. Add pension contributions for teachers firefighters & police. USA GOING BROZkE. FED PRINTING FAKE $ cannot SAVE YOU. Get gold silver Bitcoin and SAVE YOUR SELF.
— therealkiyosaki (@theRealKiyosaki) May 19, 2020
Last Saturday (May 16), Kiyosaki sent out a tweet that laid out where he thinks the prices of silver, gold, and Bitcoin would go within the next few years:
ECONOMY dying. FED incompetent. Next BAILOUT trillions in pensions. HOPE fading. Bought more gold silver Bitcoin. GOLD @$1700. Predict $3000 in 1 year. Silver @ $17. Predict $40 in 5 years. Bitcoin @$9800. Predict $75000 in 3 years. PRAY for the BEST-PREPARE for the WORST.
— therealkiyosaki (@theRealKiyosaki) May 16, 2020
In the past one-month period, according to data from GoldSilver, LLC, the price of silver has gone from $15.25 an ounce to $17577 an ounce (a gain of 15.21%).
As for gold, its price has gone from $1,691.11 per ounce to $1,754.20 (a gain of 3.73%), but in the year-to-date period, the gold price has gone up 15.61%.
In the case of Bitcoin, according to data from CryptoCompare, BTC-USD is currently trading at $9,772, pretty much unchanged in the past 24-hour period:
However, so far in 2020, the price of Bitcoin has gone up 36.04% (against USD).
Episode #263 of Anthony Pompliano's "Pomp Podcast", which was released on April 7, featured an interview with Kiyosaki.
During this interview, Pompliano (aka "Pomp") was asked about Kiyosaki's latest thinking on "traditional inflation hedge" type assets such as silver and gold.
Here is what Kiyosaki said:
"Gold and silver are God's money. Bitcoin is open source people's money."
