RT.com
05 Dec 2022, 11:43 GMT+10
Robert Kiyosaki has urged investors to dump their paper assets and to consider buying physical gold
The economy today is the "biggest bubble in world history," renowned writer and economist Robert Kiyosaki has warned. The co-author of the best-selling personal finance book 'Rich Dad Poor Dad' has urged investors to dump their paper assets.
This year has brought little cheer for most investors as financial markets were exposed to high volatility, with stocks and bonds tumbling and even broad benchmark Exchange-Traded Funds (ETFs) going deep in the red.
While a host of financial assets have fallen in price amid the current market downturn, some investors have resorted to risky strategies with hopes for a potential reward. However, Kiyosaki believes that the worst is yet to come and cautions against giving in to such temptations.
The author has issued advice to "hold onto your money" and shared his own strategy. "Many of you know I do not invest in equities, bonds, ETS or MFs. Please do not listen to what I'm going to say next: I would get out of paper assets," he said, adding that the world economy "is not a market."
Instead, he suggests looking at precious metals as a hedge against market turbulence and inflation, arguing that their value is more stable, though not totally immune to economic uncertainty.
"I'm not buying gold because I like gold, I'm buying gold because I don't trust the Fed," Kiyosaki said in an interview last year. Among other ways of investing in gold and silver, he prefers to buy the metals directly in "real gold or silver coins" and not in ETFs.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Taiwan Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Taiwan Sun.
More InformationOTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
PARIS, France: A strike by French air traffic controllers demanding improved working conditions caused significant disruptions during...