Kiyosaki Reaffirms Prepper Stance, Warns of Inflationary Risks
Renowned author Robert Kiyosaki has reaffirmed his stance as a 'financial prepper', emphasizing the importance of holding assets that a central bank cannot create. Speaking to a group, Kiyosaki used the analogy of car insurance to explain his position, stating that drivers never hope for accidents, but they still carry coverage. When asked if being a prepper is pessimistic, Kiyosaki replied that it's about being prepared for the unexpected.
Kiyosaki's argument is centered around the idea that governments can create wealth through inflationary policies, such as printing more money. He warns investors to treat scarce assets as insurance against debasement, rather than expecting quick returns. The author also emphasizes the importance of holding assets that are not subject to central bank control, such as oil wells, since governments are dependable buyers of crude.
The numbers partly validate Kiyosaki's thesis, with total United States public debt exceeding $40.2 trillion and the personal consumption expenditures price index holding near 3.4% annually. Despite the macro backdrop, the prices of gold, silver, and Bitcoin have not reached Kiyosaki's targets, with gold trading near $4,140 per ounce, silver sitting around $60, and Bitcoin hovering near $85,450.