In his latest revelation, Robert Kiyosaki, the prominent author of the best-selling book Rich Dad Poor Dad, explains why he has chosen to invest in bitcoin. According to Kiyosaki, bitcoin serves as a protective measure against the continuous theft of wealth orchestrated by the Federal Reserve, the government, and Wall Street bankers through inflation, taxation, and stock price manipulation.
Understanding Robert Kiyosaki's Motivation Behind Bitcoin Ownership
Rich Dad Poor Dad, a groundbreaking book co-authored by Robert Kiyosaki and Sharon Lechter in 1997, has remained on the New York Times Best Seller List for over six years. With more than 32 million copies sold in over 51 languages across 109 countries, it has become a global phenomenon.
Kiyosaki took to social media platform X to elaborate on his decision:
"Why I own bitcoin. Bitcoin is protection against the theft of our wealth via our money."
Furthermore, Kiyosaki emphasized that the Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and Wall Street bankers engage in the continuous pilfering of wealth through inflation, taxation, and stock price manipulation. To safeguard his wealth, Kiyosaki chooses to invest in bitcoin rather than traditional assets like stocks, bonds, or fiat currency.
The acclaimed author consistently highlights the detrimental impact of the Federal Reserve, the Biden administration, and Wall Street bankers on the U.S. economy, the U.S. dollar, and the American population. He boldly denounces fiat money as "fake money" and frequently warns about the impending demise of the U.S. dollar. On the other hand, he refers to bitcoin as "people's money," while regarding gold and silver as "God's money."
Just last week, Kiyosaki expressed his concerns about the U.S. court system, particularly focusing on the judge presiding over former U.S. President Donald Trump's trial. He raised alarm about the judge's dual role as both a prosecutor and a judge, stating:
"If the judge is prosecuting attorney and the presiding judge, then the judge presides over a Kangaroo Court. America is finished if our courts are for Kangaroos."
Following the judge's decision to award $83.3 million against Trump, Kiyosaki reiterated his belief that America is heading towards a grim future.
While Kiyosaki consistently advocates for bitcoin alongside gold and silver, he admitted during a recent episode of his Rich Dad podcast that he possesses limited knowledge about bitcoin. However, he acknowledges that many intelligent individuals have invested in it, and he is grateful for having made an early entry into the market. Earlier this month, he predicted that the price of bitcoin will soon reach $150,000.
What are your thoughts on Robert Kiyosaki's statements? Share your opinions in the comments section below.
Frequently Asked Questions
Are gold investments a good idea for an IRA?
Anyone who is looking to save money can make gold an excellent investment. You can diversify your portfolio with gold. But gold has more to it than meets the eyes.
It's been used as a form of payment throughout history. It's sometimes called “the world's oldest money”.
But unlike paper currencies, which governments create, gold is mined out of the earth. Because it is rare and difficult to make, it is extremely valuable.
The supply-demand relationship determines the gold price. When the economy is strong, people tend to spend more money, which means fewer people mine gold. Gold's value rises as a result.
On the other hand, people will save cash when the economy slows and not spend it. This means that more gold is produced, which reduces its value.
It is this reason that gold investing makes sense for businesses and individuals. You will benefit from economic growth if you invest in gold.
Additionally, you'll earn interest on your investments which will help you grow your wealth. Plus, you won't lose money if the value of gold drops.
What precious metals do you have that you can invest in for your retirement?
The best precious metal investments are gold and silver. Both are easy to sell and can be bought easily. They are a great way to diversify your portfolio.
Gold: Gold is one the oldest forms currency known to man. It's stable and safe. This makes it a good option to preserve wealth in uncertain times.
Silver: Investors have always loved silver. This is a great choice for people who want to avoid volatility. Silver tends instead to go up than down, which is unlike gold.
Platinium: Platinum is another form of precious metal that's becoming increasingly popular. It is very durable and resistant against corrosion, much like silver and gold. It is however more expensive than its counterparts.
Rhodium: Rhodium can be used in catalytic convertors. It is also used in jewelry-making. And, it's relatively cheap compared to other types of precious metals.
Palladium – Palladium is an alternative to platinum that's more common but less scarce. It's also more accessible. It is a preferred choice among investors who are looking to add precious materials to their portfolios.
Should You Invest Gold in Retirement?
How much money you have saved, and whether or not gold was an option when you first started saving will determine the answer. If you're unsure about which option to choose then consider investing in both.
Gold offers potential returns and is therefore a safe investment. It's a great investment for retirees.
Gold is more volatile than most other investments. Because of this, gold's value can fluctuate over time.
But this doesn't mean you shouldn't invest in gold. This just means you need to account for fluctuations in your overall portfolio.
Another advantage of gold is its tangible nature. Gold is much easier to store than bonds and stocks. It's also portable.
You can always access gold as long your place it safe. Plus, there are no storage fees associated with holding physical gold.
Investing in gold can help protect against inflation. It's a great way to hedge against rising prices, as gold prices tend to increase along with other commodities.
A portion of your savings can be invested in something that doesn't go down in value. Gold tends to rise when the stock markets fall.
Investing in gold has another advantage: you can sell it anytime you want. You can also liquidate your gold position at any time you need cash, just like stocks. It doesn't matter if you are retiring.
If you do decide to invest in gold, make sure to diversify your holdings. Don't place all your eggs in the same basket.
Do not buy too much at one time. Start with a few ounces. Continue adding more as necessary.
Keep in mind that the goal is not to quickly become wealthy. It is to create enough wealth that you no longer have to depend on Social Security.
Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.
What is the value of a gold IRA
Many benefits come with a gold IRA. You can diversify your portfolio with this investment vehicle. You can control how much money is deposited into each account as well as when it's withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. This will allow you to transition easily if it is your decision to retire early.
The best thing is that investing in gold IRAs doesn't require any special skills. They're readily available at almost all banks and brokerage firms. Withdrawals can be made instantly without the need to pay fees or penalties.
There are also drawbacks. The volatility of gold has been a hallmark of its history. It is important to understand why you are investing in gold. Is it for growth or safety? Do you want to use it as an insurance strategy or for long-term growth? Only then will you be able make informed decisions.
If you plan to keep your gold IRA indefinitely, you'll probably want to consider buying more than one ounce of gold. One ounce won't be enough to meet all your needs. You could need several ounces depending on what you plan to do with your gold.
You don’t necessarily need a lot if you’re looking to sell your gold. Even a single ounce can suffice. You won't be capable of buying anything else with these funds.
Should You Get Gold?
Gold was considered a safety net for investors during times of economic turmoil in the past. Many people are shifting away from traditional investments like bonds or stocks to instead look toward precious metals such gold.
Gold prices have been on an upward trend over recent years, but they remain relatively low compared to other commodities such as oil and silver.
Experts believe this could change soon. Experts believe that gold prices could skyrocket in the face of another global financial crisis.
They also point out that gold is becoming popular because of its perceived value and potential return.
These are some things you should consider when considering gold investing.
- Consider whether you will actually need the money that you are saving for retirement. You can save for retirement and not invest your savings in gold. That said, gold does provide an additional layer of protection when you reach retirement age.
- Second, make sure you understand what you're getting yourself into before you start buying gold.There are several different types of gold IRA accounts available. Each offer varying degrees of security and flexibility.
- Keep in mind that gold may not be as secure as a bank deposit. You may lose your gold coins and never be able to recover them.
So, if you're thinking about buying gold, make sure you do your research first. Make sure to protect any gold you already own.
Statistics
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
irs.gov
finance.yahoo.com
investopedia.com
bbb.org
How To
The History of Gold as an Asset
From the very beginning of time, gold was a currency. It was accepted worldwide and became popular due to its durability, purity, divisibility, uniformity, scarcity, and beauty. It was also traded internationally due to its high value. Different weights and measurements existed around the world, however, because there were not international standards to measure gold. One pound sterling, for example, was equivalent in England to 24 carats, and one livre tournois, in France, to 25 carats. A mark, on the other hand, was equivalent in Germany to 28 carats.
In the 1860s, the United States began issuing American coins made up of 90% copper, 10% zinc, and 0.942 fine gold. This caused a drop in foreign currency demand which resulted in an increase of their prices. The United States began minting large quantities gold coins at this time, which led to a drop in the price. They needed to pay off debt because they had too much money coming into circulation. They sold some of their excess gold to Europe to pay off the debt.
Since most European countries were not confident in the U.S. dollar they began accepting gold as payment. Many European countries started to accept paper money as a substitute for gold after World War I. The gold price has gone up significantly in the years since. Even though gold's price fluctuates, it is still one of the most secure investments you could make.
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By: Kevin Helms
Title: Bitcoin: A Shield Against Wealth Theft by the Fed, Government, and Wall Street Bankers, According to Robert Kiyosaki
Sourced From: news.bitcoin.com/robert-kiyosaki-bitcoin-protects-against-theft-by-the-fed-government-and-wall-street-bankers/
Published Date: Thu, 01 Feb 2024 02:30:18 +0000
