Robert Kiyosaki dismissed bitcoin as valueless, and said he treats trading it like a game. The “Rich Dad Poor Dad’ writer touted gold and silver over dollars, and bemoaned painful inflation. Kiyosaki advised investors to focus more on finding bargain assets, and worry less about rate hikes. Loading Something is loading.
Robert Kiyosaki has dismissed bitcoin as a speculative play, championed gold and silver over cash, and underlined the painful impact of higher food and fuel prices, on “The Rich Dad Radio Show” in recent weeks.
The “Rich Dad Poor Dad” author and personal-finance guru also warned that bear markets can be a wake-up call for investors, and emphasized that market declines and economic slumps are rare opportunities to scoop up bargain assets.
Here are Kiyosaki’s 10 best quotes, lightly edited for length and clarity:1. “I trade bitcoin. But I don’t think it has any value. I just play the game.” (May 11)
2. “Savers are losers. Why would you save dollars when they’re printing them? It makes no sense to me.” (May 25)
3. “The US dollar is fake as hell. It’s a piece of crap. That’s why I own gold and silver. I’d rather have something tangible, I’d rather have oil, I’d rather have fertilizer, because they do something.” (May 11)
4. “Since I was a little kid of 9 years old studying money, I realized the only people that control money are governments, tyrants, and despots. That’s the Federal Reserve Bank and the US Treasury. One of the reasons I have gold and silver and bitcoin is because I don’t trust the government. I don’t trust the Fed. I don’t trust the Treasury.” (May 11)
5. “There’s nobody else behind the gold coin. There’s no Wizard of Oz, no smoke and mirrors.” (May 11)
6. “The dangerous thing is people are being wiped out. Inflation’s killing them. Food and fuel, that’s what scares me.” (June 15)
7. “You could be really stupid, and you put your money on Apple and you got really rich, or bitcoin and, ‘Oh my god, I’m rich. I’m smart.’ And then the bear market shows you how stupid you are.” (June 22)
8. “Always remember this: The bull goes up the stairs, and the bear comes out the window. I think the bear is about to jump.” (June 15) (Kiyosaki meant that bull markets climb gradually, while bear markets strike suddenly.)
9. “There’s going to be more opportunities floating to the surface, as well as bodies floating to the surface.” (June 22) (Kiyosaki was highlighting the prospect of bargains emerging and businesses failing during an economic downturn.)
10. “People are crying the blues at 5%. Once you understand that it’s all in your head, and you can adjust the dials in your brain, you’ll see a different world. There’s more opportunity today.” (June 15) (Kiyosaki was referring to investors panicking about potential 5% interest rates, when they could be excited about the discounted assets likely to emerge.)
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