'Rich Dad, Poor Dad' Author Hints 'Crash Landing' A Possibility For The Economy: 'I Hope I am Wrong Yet That Is What I Believe'
Portfolio Pulse from Bhavik Nair
Robert Kiyosaki, author of 'Rich Dad, Poor Dad', has reiterated his bullish stance on gold, silver, and Bitcoin as hedges against corruption and incompetence. He did not provide specifics but hinted at a potential 'crash landing' for the economy.
May 19, 2023 | 2:38 am
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POSITIVE IMPACT
Bitcoin has gained over 61% on a year-to-date basis, with Kiyosaki's bullish stance on the cryptocurrency as a hedge against corruption and incompetence.
Kiyosaki's bullish view on Bitcoin as a hedge against corruption and incompetence has contributed to the cryptocurrency's strong performance this year. The increased demand for alternative assets like Bitcoin has positively impacted its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Gold has rallied in recent months as a hedge against inflation, with the SPDR Gold Trust (GLD) gaining over 6% since the beginning of the year.
Kiyosaki's bullish stance on gold as a hedge against corruption and incompetence, combined with high inflation, has led to increased demand for the safe-haven metal. This has resulted in a rally for gold and a positive impact on the GLD ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Similar to GLD, the iShares Gold Trust (IAU) has also gained over 6% since the beginning of the year, benefiting from the rally in gold prices.
As gold prices rally due to high inflation and Kiyosaki's bullish stance, the IAU ETF has also experienced gains. The increased demand for safe-haven assets like gold has positively impacted the IAU ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80