'Rich Dad, Poor Dad' Author No Longer Backs This Investment Option — Blames 'Marxists' Who 'Took Over' US In 2020

"Rich Dad, Poor Dad" author Robert Kiyosaki on Saturday said he no longer recommends real estate, blaming the Democrats for his aversion to the investment option at this point.

What Happened:  The best-selling author cited his 2022 book “Capitalist Manifesto,” which says "Marxists" took over the U.S. in the 2020 election, referring to Democrats under Joe Biden regaining control of the White House.

“Marxists will raise property taxes, impose rent controls, as rising interest rates decrease property values,” Kiyosaki added. 

The stimulatory measures that were implemented following the COVID-19 pandemic have resulted in an inflationary environment. To rein in the red-hot inflation, the Federal Reserve has been aggressively raising interest rates, which has proved to be the undoing of markets.

See also: How To Invest In Commodities

Reiterates Buy Calls:  Kiyosaki repeated his call to buy gold, silver and Bitcoin BTC/USD. Earlier this month, in another tweet, he suggested that when the Fed pivots the dollar will fall, pushing up the prices of gold, silver and Bitcoin.

Among the three, he has a particular preference for silver. He expects the precious metal to stay at $20 for three to four years and then climb to $100 to $500. He also touted its affordability, stating that everyone can buy silver, even the poor.