‘Millions will be wiped out’: Robert Kiyosaki says that the big crash he predict...
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Robert Kiyosaki says that the big crash he predicted is here. But right now could also be the perfect time to 'get richer' — here's how‘Millions will be wiped out’: Robert Kiyosaki says that the big crash he predicted is here. But right now could also be the perfect time to 'get richer' — here's how
Safe havens are hard to find these days.
Stocks have plunged, Bitcoin is in the doldrums and even the recently hot real estate market seems to be cooling down due to the Fed’s aggressive rate hikes.
While it might be tempting to hide out in cash, Rich Dad Poor Dad author Robert Kiyosaki believes that it could be the ideal time to “get richer.”
In a tweet on Sunday, Kiyosaki explains how he made a fortune by going against the herd during the Great Recession.
“2008 was great time to get rich. Everything went on sale. Borrowed millions of dollars buying real estate bargains,” he writes.
The author has also been calling for a major crash.
“2013 I published Rich Dads Prophecy predicting BIGGER crash coming. THAT CRASH is HERE. Millions will be wiped out.”
Here’s a look at two assets that might help you survive this storm.
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Silver
The famous author is a long-time advocate of investing in precious metals.
Gold and silver have helped investors preserve their wealth for centuries. They can’t be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.
But this time, Kiyosaki is favoring one over the other, and it has to do with the gold-to-silver ratio — which simply refers to the number of silver ounces it takes to buy a single ounce of gold.
“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,” he wrote in a tweet last month.
In other words, the current gold-to-silver ratio suggests that gold (silver) is relatively expensive (inexpensive) historically speaking.
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