The famous author of the bestselling book Rich Dad Poor Dad, Robert Kiyosaki, says it’s time to open his closed mind after listening to economist Harry Dent. He now buys 2-year US Treasuries despite repeatedly saying he doesn’t invest in anything printed by the Federal Reserve or Wall Street.
Robert Kiyosaki, influenced by Harry Dent, buys Treasuries
Rich Dad Poor Dad author Robert Kiyosaki opens his “closed mind” and buys 2-year US Treasuries after listening to economic forecaster Harry Dent.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for more than six years. Over 32 million copies of the book have been sold in over 51 languages in over 109 countries.
Kiyosaki tweeted on Tuesday:
Open my closed mind. I don’t invest in Fed or Wall Street printouts. It’s time to open my mind. After listening to Harry Dent, I buy 2-year US Treasury bonds.
His tweet drew a lot of criticism. Some people have noted that Harry Dent has been saying the same thing for years. Another reminded the famous author that Dent does not recommend 2-year Treasuries, pointing out that the economic forecaster said he preferred longer-term bonds, like 20 or 30 years.
Some people have questioned Kiyosaki’s decision to invest in low-yielding bonds. “Why would we buy a Treasury bill at 3% when real inflation is still above 17%? Additionally, Treasury bonds, like all paper assets, are pegged to the dollar, and the paradigm shift underway is the END of dollar hegemony. IMO, respect your original and continuing advice on physical gold and silver.
Wednesday’s tweet from Kiyosaki also mentioned a prediction by Jim Rickards, the author of the national bestseller, “Currency Wars: The Making of the Next Global Crisis.” Author Rich Dad Poor Dad wrote:
Jim Rickards calls for the biggest crash in history to occur on September 21, 2022.
A number of people on Twitter commented on Rickards’ predictions. “Jim Rickards has been claiming the biggest crash in history every week for years,” one replied to Kiyosaki. Another pointed out: “Announcing a crash on an exact scheduled date is pure hype entertainment aimed at playing on the emotions of influential novice investors.
A third person said the Federal Open Market Committee (FOMC) would meet on September 21 and that Federal Reserve Chairman Jerome Powell would likely raise interest rates again. Noting that Powell will likely raise rates “more than the market expects”, the Twitter user suggested that Sept. 22 “stands a better chance than the day of the crash.”
Kiyosaki has said for years that he doesn’t trust the Federal Reserve, the US Treasury and the Biden administration. He said in May that the United States was led by the Three Stooges: Biden, Treasury Secretary Janet Yellen and Fed Chairman Powell.
The famed author recently poked fun at President Joe Biden over his zero inflation claim, saying, “I think Joe is talking about his financial IQ.” Kiyosaki has previously warned that inflation could lead to greater depression.
He warned in February that the Federal Reserve and Treasury were “destroying the dollar, sending billions of uninformed dollar savers into financial hell”, advising investors to buy gold, silver and bitcoin. The Rich Dad Poor Dad author also said he was waiting for BTC to bottom out to buy some. He revealed last month that he was in a cash position waiting to buy the cryptocurrency.
In July, he said silver was the best investment value, noting that the price of gold was above $1,700, but for $25 you could buy a silver coin. “Silver is an industrial precious metal. Gold is not,” he pointed out. Kiyosaki also warned of the biggest bond crash since 1788, adding that he is “buying more gold, silver now and waiting for bitcoin to go down.”
What do you think about the fact that Robert Kiyosaki changed his mind about investing in Treasuries after listening to economist Harry Dent? Let us know in the comments section below.
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