Robert Kiyosaki, American entrepreneur and businessman, is a vocal opponent of the Biden Administration’s policies. He said, “America is going to be the poorest country in the world, starting now” during an interview on the Finance with Sharan podcast.
“The author of “Rich Dad Poor Dad,” Robert Kiyosaki while he was in India for Growth Summit India 2023 in September did the podcast interview. While on this trip, his visit to Mumbai, he explained, “I always go to slums.” So this time, I went to the slums of Mumbai, talking to people. And I’m looking at. But what astonishes most people is America never had slums like that. Today slums are everywhere across America.
“The slums of Mumbai are spreading across America,” Kiyosaki added.
Robert Kiyosaki discussed a variety of topics in the hour-long podcast interview–the importance of his three favorite investments. He also spoke on the U.S. dollar’s position as a global reserve and changing dynamics of global finance.
Robert Kiyosaki’s Bearish Views On The U.S. Dollar
Robert Kiyosaki has often referred to fiat currency as fake and equated the U.S. dollar to toilet paper. He said, explaining his position on fiat money, “Everybody who works for pesos, rupee, dollars, yen — this is fake money. Only stupid people work for this stuff.”
Elucidating his views on wealth, Robert Kiyosaki referred fiat dollar as fake money, Bitcoin as people’s money and gold as God’s money.
Kiyosaki said, “The only way the fiat dollar is created is, somebody has to borrow money.”
Kiyosaki’s 3 Favorite Investments for Protecting Wealth
Robert Kiyosaki has asserted ownership of approximately 60 Bitcoins while cautioning crypto enthusiasts about the potential ramifications of dealing with the federal government. Despite his involvement in cryptocurrency, he strongly advocates for investing in tangible assets such as gold and silver, emphasizing their liquidity and proximity as substitutes for gold.
In contrast to fiat money’s unlimited production capabilities, precious metals possess inherent scarcity, serving as valuable hedges against inflation. Kiyosaki favors physical gold and silver bullion, but he acknowledges various options for investors seeking exposure to precious metals. Osisko Gold Royalties Ltd (NYSE: OR), for instance, acquires and manages precious metal royalties, offering investors a percentage of revenue from global mines. Unlike bullion, Osisko Gold Royalties provides the added benefit of paying a dividend, boasting a 1.33% annual yield.
Real estate stands out as another preferred investment class for Robert Kiyosaki, who claims ownership of 15,000 houses. For retail investors interested in real estate without the complexities of property ownership, publicly traded Real Estate Investment Trusts (REITs) offer a more straightforward and cost-effective avenue. Companies like Realty Income Corp (NYSE: O) own large portfolios of income-producing properties, providing investors with a share of the cash flow and a monthly dividend yielding 5.7%.
Fractional ownership emerges as a popular option, with platforms allowing investors to buy shares in single-family rentals with as little as $100, earning passive income alongside long-term gains.
Oil represents the third asset class on Kiyosaki’s list of favorites, often referred to as the “lifeblood of civilizations.” Rather than opting for oil company stocks, Robert Kiyosaki favors tangible investments like oil wells. While the prospect of discovering and drilling a well may be unrealistic for the average investor, purchasing shares in companies like Chevron Corporation (NYSE: CVX) can provide equity in thousands of wells, accompanied by a 4.18% dividend yield.
It’s important to note that statements from successful entrepreneurs, like Kiyosaki, should be approached with caution and not taken literally. While valuable insights can be gleaned from his statements, thorough research and consultation with an investment advisor are essential before making any investment decisions.