Rich Dad / Robert Kiyosaki Blog

October 2, 2009

Robert Kiyosaki on Silver & the Economy

Filed under: Interviews, Rich Dad Gold — ~ @ 2:31 am


COOK: Congress passed an $800 billion “economic stimulus” plan to get the U.S. economy moving again. Do you think it will work?

KIYOSAKI: Personally, my question is, is it enough? If not enough – it won’t work. If it is too high – we will go into hyperinflation.

COOK: With the federal government printing more money to cover the bailouts, many financial experts are predicting another period of severe inflation. Do you agree?

KIYOSAKI: Yes, I do. Just like Warren Buffett said, I think we should not expect it until two to five years from now.

COOK: I heard a recent radio interview with you in which you recommended purchasing silver as hedge against further economic downturn. Why are you bullish on silver?

KIYOSAKI: Silver is an industrial metal. It is consumed and used in every cell phone, TV and computer. The supply of silver is low and gold is being hoarded, so gold goes up. With silver, there is supply vs. demand.

COOK: Does a depression help or hurt silver?

KIYOSAKI: Depression hurts everybody. But it depends what kind of depression it is. If there is deflation, then it will hurt silver. If there is a hyperinflation, like in Germany in 1930 – then that will make silver go up. I think we are moving towards hyperinflation.

COOK: What percentage of my net worth should be in silver?

KIYOSAKI: That is completely up to the individual.

COOK: How high could the price of silver go?

KIYOSAKI: I expect it to go to at least $50. The price was $50 in 1980 and I think it will go to that or higher.

COOK: What else should the average American do to hold onto whatever assets they have left?

KIYOSAKI: Start studying what interests you as an investor, so you can understand what the market does. Don’t diversify, but have focus on one thing you understand instead.

COOK: What about gold as a safe haven?

KIYOSAKI: That depends on the price and value relative to other assets. When money flows into the market, money flows out of gold. When money flows out of the market, money flows into gold.

COOK: Is the government going to turn the economy around?

KIYOSAKI: The U.S. economy depends on jobs and it depends on the individual. Don’t depend on the government. The individual should take care of themselves. I always say,in a good or bad economy – if you know what you are doing, you will do well.

COOK: In your new book, “Conspiracy of the Rich,” you discuss a number of “conspiracies” that keep everyday Americans from ever reaching financial freedom. What are the main ones?

A) In 1904, the Rockefellers took over the school system, which began a conspiracy against the people. B) In 1913, they created the Federal Reserve and made us think it was part of the Government, when it really is a cartel. And then the Federal
Reserve took over the money system. C) In 1971, they took us off the gold standard, and that was a conspiracy against money.



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