Zinger Key Points
  • The Fed has been hinting at staying on course with its current aggressive monetary policy to tackle inflation.
  • Robert Kiyosaki said a Fed pivot will sent the dollar crashing in Jan. 2023.

The British pound plummeted to a record low against the dollar last week, reacting to the incoming Prime Minister Liz Truss- led government’s tax cuts announced as part of the new economic policy.

What Happened: Rich Dad, Poor Dad author Robert Kiyosaki on Saturday took to Twitter to give a stark warning about the U.S. dollar.

While posing the question “will US dollar follow English Pound Sterling,” he said it would.

“I believe US dollar will crash by January 2023 after Fed pivots,” he added.

In a separate tweet, Kiyosaki suggested the weakness in Bitcoin BTC/USD, gold and silver could be a buying opportunity. Attributing the weakness to the dollar strength facilitated by the Fed’s aggressive rate hikes, he said when the Fed pivots and drops interest rates just as in England, he said “you will smile while others cry.”

See also: Rich Dad, Poor Dad' Author Repeats Bullish Silver Call: How Much $1,000 Invested In The Metal Will Fetch If Kiyosaki's Target Is Hit

Diversify Into Silver, Kiyosaki Says: As a remedy, Kiyosaki recommends buying silver. “To profit from crash of US $ I bought many more US silver Buffalo rounds. Silver is a bargain,” he said.

“I will not be a victim of the F**Ked FED,” he added.

The best-selling author has been recommending silver as a better investment option. He predicted silver moving sideways around $20 for three to five years, and then rallying to $100-$500.

“Everyone can afford silver even poor. Accumulate silver now,” he has said.

Photo: Created with an image from Gage Skidmore via Wikimedia

Posted In: Analyst ColorCommoditiesMarketsAnalyst RatingsTrading IdeasRobert Kiyosaki