Author of “Rich Dad Poor Dad” Says There Are 5 Reasons To Buy Gold Now

Published on: Jan 16, 2024
Author: Caroline Kong

Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad, recently said the rich don’t rely on dollars, but rather real assets such as gold, silver and real estate. When the American public began to realize that the dollar is just a currency and not real money, gold and silver look like real bargains right now .

Kiyosaki points out that there are many reasons to buy gold now.

Gold Is Now a Tier 1 Asset

Gold has been reclassified as a Tier 1 asset, comparable to cash, representing a core equity asset of a bank or financial institution. According to Andy Schectman, President and Founder of Miles Franklin Precious Metals, more than 200 countries around the world will start buying gold in 2021, and private investors are accumulating gold in large quantities. Gold and silver are the only assets on the planet that have not become liabilities at the same time. Macroeconomic expert George Gammon points out that investing in assets with no counterparty risk, such as gold, is in everyone’s best interest because they are not dependent on a third party and can withstand economic turmoil.

Gold Reserves Are Declining

David Garofalo, chairman and chief executive officer of Gold Royalty Corporation, said that the gold industry’s reserves have declined by 40 per cent. The production and development of gold as a finite resource will also require reinvestment. According to the website, it can take ten to twenty years from discovery to development of a gold mine, and no one knows how much gold is left in the ground. It is no exaggeration to say that the gold industry is in the midst of this existential crisis.

Losing Faith in the Dollar

Clay Clark, a successful entrepreneur, has told Kiyosaki that Brazil, Russia, India, China, South Africa and many other countries have been hoarding the earth’s gold in preparation for the launch of a programmable central bank currency backed by gold. This new financial system and the BRICS could soon lead to the collapse of the US dollar. Therefore, those who buy physical assets such as precious metals can be prepared.

Gold Is Liquid

Illiquid assets, such as real estate, often take time to sell and convert to cash, and trying to get out quickly usually means taking a loss. By contrast, cash and more liquid physical assets can be converted to cash quickly and easily in a short period of time. liquidity gives investors courage, says Rick Rule, president and CEO of Rule Investment Media. Tying cash to assets reduces purchasing power, but gold is extremely liquid. If the price of gold rises, those who hold gold have an asset that can be quickly converted to cash in times of economic uncertainty.

Gold Is In A Bull Market

James Rickards, a former national security advisor to the Pentagon and the CIA, says gold has entered its third bull market since 1971 and expects prices to rise. He believes the price of gold will rise 1,400 per cent between 2015 and 2025 to reach $15,000 an ounce. He reminds investors that while there is still a long way to go to $15,000, buying gold now means enjoying those profits in the future and not waiting until 2025.

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