Currency Crash, ‘Serious Problems’ Predictions Soot Gold Warning Personal Finances | Finance

Mr. Kiyosaki participated in Kinesis Money’s Live From the Vault YouTube series, where he commented on the pessimistic outlook for the global economy. He noted that a market collapse is due as more countries continue to print money to stay afloat amid the pandemic, adding that soon the Zimbabwean dollar and the US dollar may have the same value for the consumer.

Mr Kiyosaki has a personal net worth of around $ 100million (around £ CONVERSION), and 32million readers have sought to read his allegorical story of financial acumen, Rich Dad, Poor Dad.

He has been viewed with a respect similar to that of Warren Buffett, but Mr. Kiyosaki is often much more open to the unfortunate circumstances of the current economic climate.

He noted that the biggest problem the world is currently facing is printing money in order to maintain savings during the pandemic.

He said: “In one year, they print 16% of the world’s GDP. The only question is: how long can they keep doing it? “

Continuously printing large amounts of money in any economy is not sustainable, but as new variants of Covid are discovered and restrictions are introduced and removed almost daily, governments around the world have had to few other options.

Mr Kiyosaki added that derivatives, or “fake assets” currently outnumber real debt around the world:

“Everything is wrong now. So it’s like I give you an ‘I owe you’, and you give somebody else an ‘I owe you’, and we just go around these ‘I owe you’, and this bargain. got so big, he’s now in the quadrillion.

He revealed that is the exact reason he prefers gold and silver to currencies, sharing, “I’m saying it’s not how much or what’s going to happen in the future. All I care about today is how many ounces you have. Because in a few years, you will regret buying more.

Although paper money is a relatively common concept, Mr. Kiyosaki pointed to the low interest rate for physical elements of tangible wealth like gold and silver.


Essentially, in today’s market, £ 16 in fiat currency and an ounce of silver are worth exactly the same, but what Mr Kiyosaki is suggesting is that in times of economic turmoil and potential market downturn, l money will always hold its value.

“This mountain of debt is so high that if they stop printing money, they collapse. And when it crashes because they find out that the dollar – which is the reserve currency in the world – is worthless, you’ll wish you had more ounces of gold and silver.

He added that the current shortage of gold is likely to increase as more people move towards this trend and those who move fast may never be able to buy gold again.

“When it collapses, what happens – we don’t know when, but it does – you won’t be able to buy the physical material because all the people who have sold the derivatives like ETFs will buy.

“And the guys you bought the ETF from are your biggest competition. If you understand that this is how fucked up the whole market is, you step away from the paper and you are going to buy so much hard physical gold and silver today.

For everyone, saving money in fiat currency is normal, but in the event that the entire “paper system” collapses, these types of savings would be of no value no matter what. number of digits in the bank account.

Mr. Kiyosaki cautioned, “I think the secret of the next 50 years is that you don’t want money like that. [holding up a Zimbabwean note]. You don’t want anything tied to the US Treasury or the FED. “

Zimbabwe is the perfect example for this kind of print market collapse coupled with soaring inflation, as £ 1 will buy Z $ 482 (Zimbabwe dollars).

While that doesn’t sound too extreme, in the country itself, estimated that Z $ 100,000 billion would barely cover the cost of a single Hershey’s kiss.

This is Mr. Kiyosaki’s problem with fiat currencies, noting that gold and silver will not do that: “If you understand that, that’s why I call it silver. of God.

“And I call blockchain people’s money. Because it’s outside the FED and the Treasury, it’s outside the Bank of England, it’s outside the German Bundesbank. And in a few years, you will find out that these banks are in big trouble because of their debts.

He concluded: “It’s called shadow banking. The shadow banking system is so huge that if I can’t pay you, you can’t pay someone else. When this whole shadow banking system crumbles, which is exactly what Rickards said, you won’t be able to buy it at any cost. They won’t get it. And people won’t take paper then.

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