'Rich Dad, Poor' Dad Author Calls This Asset 'God's Dollar' As Dollar Dominance Faces Threat From BRICS Common Currency
Portfolio Pulse from Shanthi Rexaline
Robert Kiyosaki, author of 'Rich Dad, Poor Dad', has reiterated his support for gold, silver, and Bitcoin, and predicted the demise of the dollar. He referred to gold as 'God's Dollar' and 'stored financial energy'. Kiyosaki has previously warned that the dollar could lose favor due to the proposed launch of a common currency by the BRICS nations, tied to gold. However, a South African official clarified that a common BRICS currency would not be discussed at the upcoming meeting. Kiyosaki also warned of a potential crash following Fitch's downgrade of the U.S. sovereign rating. The SPDR Gold Shares (NYSE:GLD), an ETF providing access to the gold bullion market, ended Friday’s session at $177.60, up 4.7% this year.
August 13, 2023 | 3:08 pm
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POSITIVE IMPACT
Robert Kiyosaki's endorsement of gold as a stable asset could potentially increase investor interest in SPDR Gold Shares (GLD), an ETF that provides access to the gold bullion market. The ETF ended Friday’s session at $177.60, up 4.7% this year.
Robert Kiyosaki's endorsement of gold as a stable asset and his prediction of the dollar's demise could potentially increase investor interest in gold-related assets like GLD. This could lead to an increase in the ETF's price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Robert Kiyosaki's endorsement of Bitcoin as a viable investment could potentially increase investor interest in Bitcoin. However, Kiyosaki's warning of a potential crash following Fitch's downgrade of the U.S. sovereign rating could also create uncertainty among investors.
Robert Kiyosaki's endorsement of Bitcoin could potentially increase investor interest in the cryptocurrency. However, his warning of a potential crash following Fitch's downgrade of the U.S. sovereign rating could also create uncertainty among investors, potentially impacting Bitcoin's price.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 70