'Rich Dad, Poor Dad' Author Says, Amid Wide Market Crashes, 'Accumulate' This Commodity To Get 400% Return In Long-Run

Robert Kiyosaki, the author of “Rich Dad, Poor Dad”, was bullish on silver and has advised accumulating the commodity at a time when all other assets including bonds, stocks and real estate are crashing in September 2022.

The View: Kiyosaki stated in his tweet silver was moving sideways and may remain at $20 levels in the times to come. He believed the commodity was set for a huge upward movement in the long term.

“TIME FOR POOR TO GET RICH. Stocks, bonds, mutual funds, ETF & Real Estate crashing. As PREDICTED Middle class being wiped out. Silver moving sidewards. Silver to stay at $20 for 3-5 years, then climb to $100 to $500. Everyone can afford silver even poor. Accumulate silver now,” the author said in his tweet.

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What Happened: Recession fears led by aggressive rate hikes by central banks had been pushing commodity prices down over the last few months. After falling to over two-year lows in early September, silver prices were trading above the $19/Oz level.

Historical High: According to the Silver Institute, prices of silver bullion rose from $11 an ounce in September 1979 to $49.45 an ounce in January 1980 based on London PM Fix during the Hunt brothers’ accumulation of the commodity. Prices ultimately fell to below $11 an ounce two months later, it said.

This story was originally published on Sept. 13, 2022.

Photo courtesy: Gage Skidmore on Flickr

Posted In: NewsSector ETFsCommoditiesMarketsETFsICYMIRich Dad Poor DadRobert KiyosakiSilverStock Market Crash