‘Millions will be wiped out’: Robert Kiyosaki says the big crash he predicted has happened. But right now could also be the perfect time to “get richer” – here’s how

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‘Millions will be wiped out’: Robert Kiyosaki says the big crash he predicted has happened. But right now could also be the perfect time to “get richer” – here’s how

Shelters are hard to find these days.

Stocks have plunged, Bitcoin is in the doldrums, and even the recently hot real estate market appears to be cooling due to the Fed’s aggressive rate hikes.

While it can be tempting to hide in money, Rich Dad Poor Dad author Robert Kiyosaki thinks this could be a great time to “get richer.”

In a recent tweet, Kiyosaki explains how he made his fortune going against the grain during the Great Recession.

“2008 was the perfect time to get rich. Everything has been put up for sale. Borrowed millions buying real estate bargains,” he wrote.

The author also called for a major crash.

“In 2013 I published Rich Dads Prophecy predicting a bigger crash to come. THAT CRASH is HERE. Millions will be wiped out.

Here’s a look at two assets that could help you weather this storm.

Don’t miss

Silver

The famous author is a long-time supporter of investing in precious metals.

Gold and silver have helped investors preserve their wealth for centuries. They cannot be printed from scratch like fiat currency and their value is largely unaffected by economic events around the world.

But this time, Kiyosaki favors one over the other, and it has to do with the gold/silver ratio – which simply refers to how many ounces of silver it takes to buy a single ounce of silver. ‘gold.

“For your information, the gold to silver ratio is the oldest tracked rate in history: for the 20th century, the gold to silver ratio was 47:1…47 oz silver = 1 oz gold. Today 85:1,” he wrote in a tweet in July.

In other words, the current gold/silver ratio suggests that gold (silver) is relatively expensive (inexpensive) historically speaking.

Kiyosaki also prefers silver due to its industrial use.

“Silver is an industrial precious metal. Gold is not.

The gray metal is widely used in the production of solar panels and is also an essential component in the electrical control units of many vehicles. Industrial demand – plus hedging properties – makes silver a very attractive asset class for investors.

There are many silver miners well positioned for a silver price spike. Companies like Pan American Silver (PAAS), Wheaton Precious Metals (WPM), and First Majestic Silver (AG) should be a good starting point for some research.

But Kiyosaki suggests a simpler approach: just buy the metal directly.

“I don’t touch paper ETFs on gold or silver,” he says. “For 25 dollars, anyone can buy a silver coin.”

So it might be time to visit your local bullion store.

Oil

Admittedly, Kiyosaki isn’t exactly claiming that silver is immune to the current market turmoil.

“All markets are crashing: real estate, stocks, gold, Bitcoin silver,” he tweeted last week.

But the strength of one asset is well known at the moment: oil.

This isn’t necessarily good for your wallet, as higher oil prices mean you pay more for gas. “Middle class wiped out by rising oil inflation,” Kiyosaki tweeted recently.

Of course, if you hold investments exposed to the energy sector, your portfolio in 2022 is likely to look better than those without.

The price of crude oil has fallen in recent months, but is still up 14% since the start of the year.

As expected, high oil prices benefit oil producers. So far this year, investors have enjoyed outsized returns from names such as Chevron (32%), Exxon Mobil (50%) and ConocoPhillips (50%).

That said, investing in commodities is a particularly volatile business.

If you’d rather hedge against inflation without the extreme ups and downs of commodity-related stocks, take a look at some under-the-radar alternative assets.

What to read next

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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