Robert Kiyosaki believes the biggest crash in history is about to come
Source: The Bizin
Robert Kiyosaki, one of the most famous men on earth for his investment guide book, claimed that the biggest crash in history is going to happen soon. Kiyosaki believes that the S&P 500 will continue to lose its value, after being on a downward trend in the last few years. It is going to lose more than just 18 percent, which recently happened and affects a lot of markets. Kiyosaki further suggests that investors should use this opportunity to protect their portfolio with "hard assets" such as gold, livestock, and silver.
In an interview with Kitco News, Kiyosaki told Michelle Makori, the editor-in-chief and lead anchor there interesting things. Kiyosaki stated that he is not a fan of anything printable. "Anything that can be printed, like a stock certificate, a bond, or a dollar, I don't want it," he said. "I'm a hardcore gold, silver, oil, and food buff… I'm a hardcore hard assets person," Kiyosaki further stated. In short, he believes assets whose supply can be changed easily are not suitable for investment in the long term or for protecting our wealth.
Source: The Jakarta post
He also stated that it is necessary to further differentiate between insurance and investment. Assets like gold, silver, oil, and so on belong to the insurance category, which means those assets are strong enough to last through a few crises without apparent impacts on our well-being and have been historically proven to be sustainable as a means to protect our wealth.
"My answer is always to buy more gold and silver," Kiyosaki said. "It's not an investment… I buy gold and silver for one reason, because if push comes to shove, I can spend it anywhere in the world." From this, we can also conclude that what he means by insurance is that it is easy to liquidate it anywhere, so there are fewer constraints on our spending ability should the time come for us to use it to buy or trade with others.
Source: Saremco
Kiyosaki's support for food or cattle investment is not new. In June this year, Kiyosaki tweeted his support for canned tuna investment for anticipating food supplies shortage. He believes food shortage will come very soon and it will likely become a huge crisis. Analysts also support this notion indirectly, after releasing reports that Europe would likely struggle with food supplies this winter. On top of that, Copa-Cogeca, the EU's farmer union, also released a statement for the public that stated food shortages might happen soon due to higher energy costs in the EU region.
Kiyosaki believes that the US might face the same problem in the future. Kiyosaki told Makori that his investment in livestock is his hedge against this possibility. "I invest in Wagyu cattle," said Kiyosaki. "People talk about farmland and all that stuff, but I think cattle are great. You can always eat the thing." Will not everyone can do this, the idea of having your own food farm is good enough when a crisis comes.
Source: Investing
If you're a firm believer of Kiyosaki's ideas, then buying gold is a no-brainer. Whether you agree gold is an investment or insurance, one thing you must do is buy gold. Considering the market situation, buying physical gold might be difficult if you don't have the time to enter the market correctly. This is why buying digital gold or gold-backed cryptocurrency is a good alternative. Digital Gold, one of the providers of such service, can help users acquire gold without the complexity of the traditional gold market.
While buying Digital Gold tokens won't help you solve the upcoming food crisis as Kiyosaki mentioned, it should be good enough to accumulate gold-backed assets to protect your wealth. Not to mention you can easily liquidate or trade it, which fulfill the requirement for insurance assets stated by Kiyosaki above.
This article is written by joniboini.