Robert Kiyosaki (Photo Wikipedia)
The Bank of England recently bought 19.3 billion pounds of UK government bonds to prevent a collapse in the country’s pension industry.
According to Robert Kiyosaki, author of the popular book Rich Dad Poor Dad, now is the time to purchase three specific assets. “BoE pivot means buy more GSBC,” he says in a tweet, referring to gold, silver and bitcoin.
“When pensions almost collapsed, it revealed that central banks can’t fix inflation. Pensions have always been invested in G&S, and now they’re investing in Bitcoin.” said. Here’s a closer look at those assets—and what Kiyosaki suggests doing to get around their limitations.
Precious metals—especially gold and silver—were a popular hedge against inflation and uncertainty. They cannot be printed out of thin air like fiat money and their value is largely unaffected by economic events around the world.
Kiyosaki has long been a gold lover – he first purchased the metal in 1972. “I don’t buy gold because I like gold, I buy gold because I don’t trust the Fed,” he said in an interview last year. Kiyosaki also likes the silver metal. In fact, he recently tweeted “the best investment in October 2022 – silver” and “everyone can afford $20 silver”.
More in-
To be sure, precious metals are not immune to the selloff that occurred this year. The price of gold is actually down about 9% in 2022, while silver is down almost 20%. While there are many ways to gain exposure to gold and silver, Kiyosaki prefers to simply buy the metal directly. Earlier this year he tweeted that he only wanted “real gold or silver coins” and not their paper.
Bitcoin investors have learned the hard way how volatile it can be. Last November, Bitcoin reached a record high of $68,990. Today, it hovers around $19,500.
But Kiyosaki points to a potential catalyst for the world’s largest cryptocurrency: pension funds. “Pension funds are the largest investment businesses in the world,” he responds in a recent tweet while sharing a Forbes article, that pension funds have started betting on the first cryptocurrency. The article cited a 2022 study by the CFA Institute showing that 94% of US and government pension plans invested in cryptocurrencies.
Still, only from the side
While Kiyosaki likes gold, silver and bitcoin, he didn’t say they were all stocks to own. “Gold, silver, bitcoin may protect your capital…but not your income,” he writes. “Who knows? Maybe your side income could grow to be the next Amazon or Bitcoin,” Kiyosaki says.
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