The US dollar is going to significantly decline in value, perhaps to the point of becoming worthless. This is something that I have warned about for a long time, and is something that I would rather not have happen, but is going to pass because of fundamentals that have been in motion for a long time and have been pushed likely beyond a reasonable point of recovery and in particular by the coronavirus stimulus bill. As a result, I have been saying that a lot of wealth will be destroyed, and it is likely that one of the only areas that will not be severely affected will be precious metals since they act historically as a store of value that can preserve wealth in difficult times as opposed to something that can be inflated to worthlessness.
Recently, the famous author Robert Kyosaki of the book “Rich-Dad, Poor-Dad” said similar, noting that the entire financial system is in shambles, and the best stores will be in solid, tangible commodities such as metals.
Back in January, due to his inherent skepticism over the actions he was seeing manifest on Wall Street, Kiyosaki warned that investors were “being set up” and that he “wouldn’t touch mutual funds, ETFs, and stocks.” Today, he’s positioning his capital as far away from Wall Street as possible.
“We were prepared for it,” he said. “It’s gold, silver, and bitcoin. The reason is your off the central banking system.”
Kiyosaki thinks the extreme stimulus measures taken by the Federal Reserve in recent months are destroying the soundness of the US dollar. In fact, he refers to the Fed as a highly-educated “cartel owned by the richest people in the planet.”
With the implementation of trillions more in economic relief coming down the pike, Kiyosaki wants to make sure his assets’ value won’t be eroded the Fed’s printing press.
What’s more, in addition to the assets mentioned above, Kiyosaki also advocates for an investment in real estate to help weather the impending economic storm.
“With this the crash coming up again, there’s going to be a lot of good real estate coming up” he said. (source)
This is not about something being true because a celebrity said. Rather, it is to note that people of all types- celebrity or not- can see fundamentals for what they are if one is willing to look hard enough.
It does not matter what people would like to think or believe, but rather what actually is, and the fact is that there are systematic changes taking place right now that are beyond anybody’s natural control.
The question at this point is not what one should do, but rather what one does to protect oneself.
Information is just that and nothing more. It favors no one, and what matters is not what one wants to believe, but how one responds to said factors.