“Rich Dad, Poor Dad” author Robert Kiyosaki on Saturday took to X to sing one of his favorite investment tunes.
What Happened: “Gold is God's $," Kiyosaki said, adding that the asset has “magical, spiritual and mysterious power.” The metal, according to the best-selling author, is “stored financial energy” and why people have for centuries “sought, bought and fought for it.”
"Treat Gold with respect & God may bless you with gold's financial magic," Kiyosaki said.
The author has always thrown his weight behind gold, silver and Bitcoin BTC/USD, and has been calling for the dollar's demise.
In late July, Kiyosaki warned that the dollar would go out of favor as the BRICS nations, along with the countries that expressed a desire to join the alliance, proposed the launch of a common currency named “bric” that would be tied to gold. “1 birc = 1oz of gold = $3,000. By bye USA,” Kiyosaki said at the time.
The BRICS nations will meet at the Johannesburg Sandton Convention Centre in South Africa from Aug. 22 to 24. Although rumors suggested that the countries would announce a common currency, a South African official clarified that the BRICS currency would not be on the agenda at the meeting.
See Also: What Is The Cheapest Way To Buy Gold
Dooms Day Prophet: Following Fitch's downgrade of the sovereign rating of the U.S., Kiyosaki said to “Brace for crash landing.” The author previously took exception to America's debt overload and said it would lead to bankruptcy. “America’s debt is going up…so stock market going up. Numb nuts. America is broke,” he said.
In mid-July, Kiyosaki clarified that he does not invest in stock or bond markets. "As an entrepreneur, I like my hands-on control too much. Yet too many signs point to a severe stock market crash," he said.
The SPDR Gold Shares GLD, an exchange-traded fund that allows investors access to the gold bullion market, ended Friday’s session at $177.60. The ETF had gained about 4.7% this year, according to Benzinga Pro data. This compares to S&P 500’s 16.3% gain.
Photo: Gage Skidmore via flickr
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