“Central banks are buying gold”, begins the text published on Saturday (11) by Robert Kiyosaki, author of the book ‘Rich Dad, Poor Dad’. However, the writer would like to remember that this gold is not used as collateral and therefore fiat currencies are not safe.
“Central bankers save themselves from their own incompetence, that’s why they buy gold”Kiyosaki continues, pointing out that even central banks need to protect themselves from inflation of their own making.
Kiyosaki, a great critic of unbridled money creation, has already declared that the US dollar was toilet paper or, worse, counterfeit money accepted by many people and countries. “This will end”the writer noted of the dollar’s supremacy.
Later, also in 2023, the author of the book ‘Rich Dad, Poor Dad’ advised people to withdraw their money from the bank. “Be wise. Be smart. Stay one step ahead of bank failures”, Kiyosaki said in September. As a highlight, he mentioned that 725 American banks were on the FDIC watch list, a kind of American credit guarantee fund.
Buy gold, silver and bitcoin, says Robert Kiyosaki
Every investor has his own profile. For example, Warren Buffett is a big believer in dividends and is therefore not a fan of Bitcoin. Robert Kiyosaki is an investor who focuses on the scarcity of assets and believes this is enough to beat inflation.
In his latest text, published last Saturday (11), Kiyosaki argues that even central banks are buying these assets to escape the devaluation of their own currencies.
“Central banks like the Fed buy gold. Does this mean that fiat money is safe? Not really! Central bankers protect themselves from their own incompetence and that’s why they buy gold. Their job is to protect the banks, not you. Stay smart. Protect yourself from central bankers: buy gold, silver, Bitcoin.”
Central banks like the Fed buy gold. Does this mean that fiat money is safe? Not really! Central bankers protect themselves from their own incompetence and that’s why they buy gold. Their job is to protect the banks, not you. Get smart. Protect yourself from central bankers: save…
— Robert Kiyosaki (@theRealKiyosaki) November 11, 2023
At the time of writing, the gold is quoted on $1,935 with a rating of 6.14% in 2023. silvernegotiated by $22works with a decrease of 7.88% in the year. All the Bitcoin is being negotiated $36,900an increase of 123.2% in the same period.
Will Central Banks Be Able to Buy Bitcoin?
While the US banking crisis boosted Bitcoin’s rally in the first half of the year, the entry of several spot Bitcoin ETF orders in the US was the main catalyst for the second-half rise.
For some experts, the arrival of ETFs means a huge influx of money into Bitcoin, which could double its value against the dollar. However, some believe that ETFs have an even greater significance.
In a text published in August 2022, long before BlackRock filed its ETF application, Barry Silbert pointed out that the manager would be a gateway for central banks to invest in Bitcoin easily and safely.
Therefore, with central banks already investing in other assets, it seems to be only a matter of time before they also add Bitcoin to their portfolios. So far, only small countries like El Salvador have adopted this practice.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
