FX Empire - Robert Kiyosaki: The House of Cards Is Going to Collapse; Buy Physical Gold Now!

Article by Jai Bifulco in FX Street

The big problem with fiat money – government-issued currency not backed by a physical commodity – is that it is largely based on public faith in the issuer.

Put simply, it has no real value. Instead, its value is born out of trust and confidence in the government that issues it and the wider national economy.

And in times of certainty when confidence in the government is high, fiat more or less, serves the needs of the financial system. However, when the ‘house of cards’ as Robert Kiyosaki keenly puts it, comes tumbling down during unprecedented economic times, we need to reconsider how we store our wealth.

Inflation and Governmental Spending

The recent inflation hike is just the latest alarm bell in a string of warnings that could signal economic collapse.

Kiyosaki warns that the actions of today’s governments – such as spending 16% of global GDP on the pandemic and the mass printing of money– could lead to a crash so big even the dollar is considered worthless.

So, what now?

Buy Gold and Silver!

For those like Kiyosaki who have lost faith in traditional currencies, there are a number of ways to store wealth that are independent of any central bank and can help to mitigate the impact of any pending economic crash. Investing in real estate and crypto are steps in the right direction, but the message from Robert Kiyosaki is clear: buy gold and silver, buy lots of it and buy it now.

In line with his lack of trust in the paper markets, he advises that investors should move away from any gold and silver derivatives, whether its futures or ETFs, because these are open to manipulation. What is vital, he claims, is to buy physical gold and silver in pounds and ounces.

Not only is gold a favorite hedge against market turbulence because of its unwavering value, but when the value of currencies is thrown into question, people turn to tangible assets – often in the form of raw materials because of .......

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