Robert Kiyosaki stands as the author of Rich Dad, Poor Dad, and has advised in investing in things like digital assets like Bitcoin, as well as precious metals like gold. This comes in response to a looming crisis within the banking sector.
Buffett Pulling Out Of Banks
It was earlier this week when mainstream media revealed that Warren Buffett, the legendary US billionaire investor, had dumped all his US bank stocks, going for gold mining stocks instead.
The report detailed how the business tycoon had dumped a large portion of Berkshire Hathaway’s holdings when it came to some heavyweight Wall Street banks, including that of Wells Fargo, JP Morgan Chase, as well as PNC.
Going For Literal Gold
This isn’t the first time Berkshire Hataway had done something like this, either. It was back in May when the conglomerate stated that it had reduced a large portion of the stake it held within Goldman Sachs Group Inc. This comes in spite of the fact that it used to be a major shareholder within the back at one point in time.
After the share sales, which probably amounted to billions in USD, Berkshire promptly purchased almost $564 million in stocks of Barrick Gold. Barrick Gold stands as one of the largest gold mining companies in the world, and is based in Canada.
Heralding The Doom Of US Banks
Kiyosaki advises his fans on the matter, claiming that Buffet’s decision to dump banks and move into gold was due to banks being bankrupt.
WHY BUFFET is OUT OF BANKS . Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?
— therealkiyosaki (@theRealKiyosaki) August 21, 2020
As such, Kiyosaki warned that a new major banking crisis is close at hand. He continued on this tangent, going all out in claiming that the Fed and Treasury would take over the banking system, then print fake money to avoid mass rioting. He urged his followers that there is no time to think and ponder, instead he asked them how much silver, gold, and Bitcoin they have ready.
Pushing Hard For Crypto
Kiyosaki has been an advocate for Bitcoin for some time now, and has been dishing out advice on social media accounts for a while, now. He urged young people to invest in gold and Bitcoin, claiming that both of these assets will outlive the USD.
He even went as far as to claim that cryptocurrencies would make people smarter on top of richer. He stated that these assets would stand to help educate millennial, which would help them fight against the “corrupt Fed.”